Subject:
Title
Resolution to Consider an Ad Valorem Tax Abatement for Roswell U.S., LLC d/b/a Roswell Marine
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Fiscal Impact:
There will not be a fiscal impact to the County in FY 2020-2021. The fiscal impact to the County in FY 2021-2022 is estimated at $5,274 for an ad valorem tax exemption on the tangible personal property investment of $1,057,818 added to the Brevard County tax rolls.
Dept/Office:
County Manager
Requested Action:
Recommendation
The Economic Development Commission of the Florida's Space Coast requests the Board of County Commissioners adopt an Economic Development Ad Valorem Tax Exemption Resolution qualifying Roswell U.S., LLC d/b/a Roswell Marine as an eligible business under the County's Tax Abatement program and authorize the advertisement of a public hearing to consider adopting an Ad Valorem Tax Exemption Ordinance for the Board of County Commission meeting on December 8, 2020.
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Summary Explanation and Background:
The Resolution requests the Brevard County Property Appraiser conduct the required analysis and provide the Board with a report as required by Section 196.1995(9), Florida Statutes and Economic Development Commission of Florida's Space Coast conduct an economic impact analysis of Roswell U.S., LLC d/b/a Roswell Marine and provide the Board of County Commission with its recommendation as to extent and length of tax abatement.
Roswell U.S., LLC d/b/a Roswell Marine is an industry leading designer, manufacture, and distributor of marine products and accessories. The Company provides design and manufacturing services both inside and outside the State of Florida.
Roswell U.S., LLC d/b/a Roswell Marine is considering additional equipment purchases as well as additional employment for their location in Rockledge, Florida. The Company plans to create 21 new jobs over 2 years with the average wage of $53,714. This wage is higher than Enterprise Florida's average wage requirements (2018), the Office of Economic and ...
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