As advocates for the business community, the Palm Beach North Chamber has taken the official position in support of the City of Palm Beach Garden's ballot item for the Ad Valorem Tax Exemption Program.
The Ad Valorem Tax Exemption Program is an economic development tool that helps the City to diversify its business base by encouraging qualified industries to locate or expand in Palm Beach Gardens. They aim to attract businesses that offer higher-than-average salaries and that will have a significant, long-term impact on the local economy. In the case of UTC, the City achieved this goal when the company’s decision to locate their headquarters in the City resulted in a $148 million capital investment and the creation of 541 new jobs.
The Palm Beach North Chamber sees the Ad Valorem Tax Exemption Program used by the City of Palm Beach Gardens as a win-win for the business community, as well as residents of the City. Economic development tools such as these, when used responsibly, allow for a more attractive business climate, helps attract high-salary jobs and allows governments to attract targeted industries that work with their roadmap for success.
We’d like to ask Palm Beach Gardens residents and businesses to support this renewal by voting YES on August 23rd!