Invest in Our Future!
The Board of County Commissioners have been discussing economic incentives that will largely shape the future financial and economic outlook of Nassau County. The objective of these incentives are to lure two large companies to bring their capital investment and job creation to our great County. There are varying opinions on offering incentives and I’d like to communicate my views on this subject so you can get to know me as you consider who to elect as County Commissioner for district 5.
The major project being discussed is simply referred to as “Project MOM,” due to confidentiality of ongoing negotiations. This project would bring a minimum capital investment of $170 million dollars and approximately 220 manufacturing jobs to the west side of our County. These jobs guarantee an average annual salary of more than $43,000.
Incentives sought by “Project MOM” largely award a rebate of taxes paid; ultimately allowing this business to forgo a portion of their County paid property taxes for 15 years. However, since the rebate is only applicable to the County (BOCC) millage, the company would pay estimated taxes of approximately $22 million over that 15 year period to the School Board and other applicable taxing authorities without a refund of those payments. In addition, the immediate direct impact will be the 220 high paying local jobs. This gives our workforce the ability to support our local stores, restaurants, etc. and bolsters revenue to the County in the form of sales and gasoline taxes that are currently in place. These revenues will aid in assuring our roads, parks and facilities can be improved. In addition, this job creation will help in reducing the 60% of our citizens that have to travel out of County for work each day. It is also important to note that incentives being explored require no upfront cash. Therefore, funds do not have to be found in the County’s tight budget, nor is an undue burden placed on current taxpayers.
The long term impact would be even greater. Once the incentives expire, “Project MOM” would pay well over $2.5 million dollars a year in property taxes between all County taxing districts (School Board, County, etc.). This amount of tax revenue would help in keeping residential property taxes low. So I ask you, would you refund ten dollars of a twenty dollar payment today in order to secure getting twenty dollar payments for the next 30, 50 or more years? You generate $10 dollars of revenue today while securing a revenue source, for not only today’s generation, but future Nassau County generations. It is this common sense and long-term approach to community development I will strive for as County Commissioner.
Justin Taylor
Candidate for County Commissioner, district 5
The major project being discussed is simply referred to as “Project MOM,” due to confidentiality of ongoing negotiations. This project would bring a minimum capital investment of $170 million dollars and approximately 220 manufacturing jobs to the west side of our County. These jobs guarantee an average annual salary of more than $43,000.
Incentives sought by “Project MOM” largely award a rebate of taxes paid; ultimately allowing this business to forgo a portion of their County paid property taxes for 15 years. However, since the rebate is only applicable to the County (BOCC) millage, the company would pay estimated taxes of approximately $22 million over that 15 year period to the School Board and other applicable taxing authorities without a refund of those payments. In addition, the immediate direct impact will be the 220 high paying local jobs. This gives our workforce the ability to support our local stores, restaurants, etc. and bolsters revenue to the County in the form of sales and gasoline taxes that are currently in place. These revenues will aid in assuring our roads, parks and facilities can be improved. In addition, this job creation will help in reducing the 60% of our citizens that have to travel out of County for work each day. It is also important to note that incentives being explored require no upfront cash. Therefore, funds do not have to be found in the County’s tight budget, nor is an undue burden placed on current taxpayers.
The long term impact would be even greater. Once the incentives expire, “Project MOM” would pay well over $2.5 million dollars a year in property taxes between all County taxing districts (School Board, County, etc.). This amount of tax revenue would help in keeping residential property taxes low. So I ask you, would you refund ten dollars of a twenty dollar payment today in order to secure getting twenty dollar payments for the next 30, 50 or more years? You generate $10 dollars of revenue today while securing a revenue source, for not only today’s generation, but future Nassau County generations. It is this common sense and long-term approach to community development I will strive for as County Commissioner.
Justin Taylor
Candidate for County Commissioner, district 5
