Subject:
Title
Resolution to consider an Ad Valorem Tax Abatement - Dark Storm Industries, LLC
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Fiscal Impact:
Fiscal Impact FY2020-2021 - No fiscal impact until company builds and moves into facility.
Fiscal Impact FY2021-2022 - Fiscal impact will be the amount of ad valorem taxes exempted. (This is calculated by the Brevard County Property Appraiser's Office based on the percentage and the deration of the ad valorem tax exemption as approved by the Board of County Commissioners.)
Dept/Office:
County Manager's Office
Requested Action:
Recommendation
The Economic Development Commission of Florida's Space Coast requests the Board of County Commissioners adopt an Economic Development Ad Valorem Tax Exemption Resolution qualifying Dark Storm Industries, LLC 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 April 6, 2021.
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Summary Explanation and Background:
This resolution requests that 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 Dark Storm Industries, LLC and provide the Board with its recommendation as to extent and length of tax abatement
Dark Storm Industries, LLC, manufactures and assembles firearm components and is looking to relocate their manufacturing facility to Brevard County. The Company annual sales exceed $12 million.
Dark Storm Industries, LLC, is considering constructing a new 25,000 SF build-to-suit facility in Titusville, FL. The company plans to create 50 new jobs over 4 years with an average wage of $50,000 and invest approximately $3,200,000 in new capital expenditures. The proposed job creation timeline for the project is as follows:
# of Ne...
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