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HomeMy WebLinkAboutPacket 01-29-13.pdfC"ity of Cape Canaveral Community & Economic Development Department 41) ECONOMIC DEVELOPMENT BOARD MEETING CANAVERAL LIBRARY MEETING ROOM i Polk Avenue, Cape Canaveral, Florida Tuesday January 29, 2013 3:00 PM Ill 4,011 1021,11:110MIZ-11141 2. Election of Vice Chairperson 3. Florida In The Sunshine Overview — Asst. City Attorney Kate Latorre 4. Filing of Form 1, Statement of Financial Interests — Asst. City Attorney Kate Latorre 5. City Code Sec. 2-171. - Uniform procedures and requirements — Asst. City Attorney Kate Latorre �• 11! 1111111111 � 1111 Is - . 1 - - 9. Projects/tasks: 0 Enterprise Zone 7510N Atlantic Avenue –P.O. Box 326 –Cape Canaveral, FL 32920-0326 Telephone (321) 868-1222 – Fax (321) 868-1247 �ywiv.ciltjg..111 '.anavcrah.) 4 e-niail: ecanaverd.o . . M,�! _5 Bch.) R - ... .... - - _-L—ODn' /0fCape Canaveral, Florida 3iO8sSand Economic Development Board Meeting wary 29,2013 )e 2[f 2 Pursuant to Section 286.0105. Florida Statutes, the City hereby advises the public that: If person decides to appeal any decision made by the Business and Economic Development Board with respect tnany matter considered at this meeding, that person will need a record of the proceedings, and for such purpose that person may need toensure that overbatim record ofthe proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. This notice does not constitute consent by the City for the introduction or admission into evidence of otherwise inadmissible or irrelevant evidence, nor does itauthorize challenges orappeals not otherwise allowed bylaw. In accordance with the Americans with Disabilities Act: all inbanaohad parties may attend this Public Meeting. The facility is accessible to the physically handicapped. Persons with disabilities needing assistance to participate in the proceedings should contact the City Clerk's office (868-1220 x220 orx221)48 hours in advance ofthe meeting. Subject: Open Discussion Items Department: Community and Economic Development Summary: Florida In The Sunshine Overview — Asst. City Attorney Kate Latorre will present information, answer questions and instruct Board Members as to the laws governing Government In the Sunshine and provide examples. Filing of Form 1, Statement of Financial Interests — Asst. City Attorney Kate Latorre will present information, answer questions and instruct Board Members as to the State of Florida Commission on Ethics annual reporting requirements. City Code Sec. 2-171. - Uniform procedures and requirements — Asst. City Attorney Kate Latorre will present information, answer questions and instruct Board Members as to the City Code Section which establishes uniform and consistent procedures and requirements for boards and committees. Meeting Selection Time and Date. Staff anticipates a quarterly meeting schedule, plus meetings as necessary. For the quarterly meetings, the Board may either: a) Select a preferred -• date and time. Staff will need to subsequently verify venue availability, or b) Task Staff to set dates and times, on a per -meeting basis, based on a polling of r- ". - e Role • the B.E.D. Board — a roundtable discussion of anticipated work items, goals and various methods • achievement. Projects/tasks — a roundtable discussion of specific, potentially viable and significant economic development pursuits: Community Branding — the process of image communication to a target market is related to the notion that places compete for people, resources and business. The competitive environment makes it important for places, no matter their size or composition, to clearly differentiate themselves and to convey why they are relevant and valued options. City branding refers to all activities that are undertaken with the purpose of turning a City from a location into a destination. Successful branding can tum a city into a place where people want to live, work and visit. It creates a single brand for the city and extends it to all its offerings and interactions. From a customer point of view, this creates a unique picture of the city at every level of interaction. This helps in removing the need to present a case by case picture of the city for each of its offerings to customers. A city brand is its promise of value, a promise that needs to be kept. Good branding can assist in making cities desirable, just as bad branding can assist in making them undesirable. Some examples of well branded cities are New York, San Francisco and Paris. Successful city brands market their history, quality of place, lifestyle, culture/diversity and proactively form cooperative partnerships between municipalities and the larger governmental community in order to enhance their infrastructure. In general, a place brand is derived from existing assets of the place such as its value offering or public perception. Otherwise, the place brand is derived from created assets, such as events, policies, abstract concepts of tolerance, and so on. The derived image of the place brand is then communicated through communication channels. These channels vary and range from television advertisements to Internet marketing efforts. These communications are aimed at a specific target market. Foreign Trade Zone - A Foreign Trade Zone (FTZ) is a geographical area, in (or adjacent to) a United States Port of Entry where commercial merchandise, both domestic and foreign, receives the same Customs treatment it would if it were outside the commerce of the United States. Merchandise of every description may be landed, handled, manufactured or reconfigured, and re-exported without the intervention of the Customs authorities and without being subject to Customs duties and other ad valorem taxes. Only when the goods are moved to consumers within the country in which the zone is located, do they become subject to the prevailing Customs duties. This tariff and tax relief is designed to increase the global competitiveness of U.S. based companies, lower the costs of U.S. based operations engaged in international trade and, thereby, create and retain the employment and capital investment opportunities that result from those operations. These special geographic areas are under the supervision of the U.S. Customs and Border Protection under the United States Homeland Security Council. Since 1986, U.S. Customs' oversight of FTZ operations has been conducted on an audit -inspection basis known as Compliance Reviews. Today, there are over 230 Foreign -Trade Zone projects and nearly 400 Subzones in the United States. In Brevard County, FTZ No.136 (Port Canaveral) currently covers 4,160 acres, including 1,372 contiguous acres surrounding the Space Coast Regional Airport and the Spaceport Commerce Park; 886.1 acres at Port Canaveral; a 23.5 acre parcel at Tate Industrial Park in Cocoa; 1,876.2 acres in the immediate area of Melbourne International Airport and the City of Melbourne. It includes 5 general purpose Warehouses, one private operator and one subzone. Enterprise Zone - An Enterprise Zone is a specific geographic area targeted for economic revitalization. It encourages economic growth and investment in distressed areas by offering tax advantages and incentives to businesses locating within zone boundaries. As of March 1, 2011 Florida has 59 enterprise zones. The Program offers businesses located in an Enterprise Zone corporate and sales tax credits for hiring zone residents. Sales tax refunds are offered to businesses that purchase building materials and business equipment for use in the zone. Corporate tax credits are available to new and expanding businesses that locate or expand their facilities in a zone. In some zones, a sales tax exemption on electrical energy is available to new businesses locating there. In addition to the State incentives, local governments also provide a number of incentives to attract new businesses as well as to help existing businesses expand. During the timeframe of October 1, 2009 through September 30, 2010 the following activity levels were reported by Enterprise Zone Coordinators Statewide: 7,559 new businesses moved into or were created in enterprise zones; 6,784 new jobs were created by businesses located in enterprise zones; and $67,602,483 state tax incentives were approved by the Department of Revenue. Local governments administering the 59 enterprise zones received more than $50 million of funding from federal and state agencies during the 2009-10 time period to supplement their revitalization efforts. Attachments: Map of FTZ No. 136 (Brevard County) Map of FL Enterprise Zones List of Enterprise Zone Incentive Programs -- ............ Financial Impact: Costs to prepare the agenda and hold the meeting. Reviewed by Finance Director: John McGinnis' Date: ;,,a The Community and Economic Developmer m ,�/Dir6ctor recommends that the Businesses and Economic Development Board take the following action(s): Review Open Discussion items and report to next meeting with a prioritized action item list. Submitting Department Director: Todd Morle,r Date: 2. 2_,,_ Z 0, .. . .. . ..... ........... . � '' 1 t County rty County Gadsden County [akulla County I r t. Darks Loon County County adtson County Hamilton Cou �Franklln County Calhoun County -Gulf County ` Lshlogton County Levy County Holmes County Sumter County Freeport Defunlak Springs Brooksville/ Walton County Hernando County :restviewl Hillsborough County 3kaloosa County Clearwater la Tampa County St. Petersburg Palmetto/Manatee County Bradenton Highlands County DeSoto County Sarasota County Ft. Myers/Lee County Hendry County Imm0alee f=l*h�i'I Jacksonville Columbia County Suwannee County Gainesville Putnam County Daytona Beach Oak Hill Lake Apopka Orange County—town ®le Cocoa Kissimmee]Osceola County Lakeland Indiana River CountyNero Beach Hardee County Ft. Pierce Okeechobee County Glades County Pahokee Pallia Beach_ Ria�ra lad Beach CcauntylSNealt aimBeach Broward County Miami Beach — North Central Dade South Dade *FFICE OF TOURISM, TRADE AND ECONOMIC THE CAPITOL, 11 *'"•,«111 PHONE:1 4« 850487-3014 ENTERPRISE ZONE INCENTIVES The Florida Enterprise Zone Program includes financial incentives which are offered to businesses to encourage private investment and increase employment opportunities for enterprise zone residents. These incentives are available to businesses that are located within a designated zone. A statutory reference is provided for each incentive. The approved amounts of these incentives are summarized in a table on pages 11 -13 of this report. • Enterprise Zone Jobs Tax Credit (Sales & Use Tax): Businesses located in a zone, who collect and pay Florida sales and use tax, are allowed a monthly credit against their sales tax due on wages paid to new employees who have been employed for at least three months and are residents of a Florida enterprise zone or a rural county (s. 212.0%, FS). • Enterprise Zone Jobs Tax Credit (Corporate Income Tax): Businesses located in a zone who pay Florida Corporate Income Tax are allowed a corporate income tax credit for wages paid to new employees who have been employed for at least three months and are residents of a Florida enterprise zone or a rural county (s. 220.181, FS). • Enterprise Zone Property Tax Credit (Corporate Income Tax): New or expanded businesses located in a zone are allowed a credit on their Florida Corporate Income Tax equal to 96 percent of ad valorem taxes paid on the new or improved property (the assessment rate varies by county) (s. 220.182, FS). • Sales Tax Refund for Building Materials Used in an Enterprise Zone: A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in a zone. Effective on July 1, 2010, condominium projects are no longer eligible for a sales tax refund. (s. 212.08(5)(g), FS). • Sales Tax Refund for Business Machinery and Equipment Used in an Enterprise Zone: A refund is available for sales taxes paid on the purchase of certain business property, (e.g. tangible personal property such as office equipment, warehouse equipment, and some industrial machinery and equipment), which is used exclusively in a zone for at least three years. The minimum purchase price of equipment is $5,000 per unit. (s. 212.08(5) (h), FS). • Sales Tax Exemption for Electrical Energy Used in an Enterprise Zone: A 50 percent sales tax exemption is available to qualified businesses located in a zone on the purchase of electrical energy. The exemption is only available if the municipality in which the business is located has passed an ordinance to exempt qualified enterprise zone businesses from 50 percent of the municipal utility tax (s. 212.08(15), FS). • Community Contribution Tax Credit Program: Businesses located anywhere in Florida are allowed a 50 percent credit on Florida Corporate Income Tax or Insurance Premium Tax as well as a sales tax refund for eligible donations made to approved community development projects (s. 212.08 (5) (p), 220.183 & s. 624.5105, FS). • Exemption for a Licensed Child Care Facility operating in an Enterprise Zone: An exemption of ad valorem property tax for child care facilities operating in an enterprise zone. The child care facility must be owned and operated by the property owner as well as meet the requirements of s. 402,302, FS. (s. 196.095). Florida Enterprise Zone Program: Annual Report, March 1, 2011 9