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Economic Impacts Brief: The Economic Development Return on Public Investment in Indian River County
<br />...........................................................................................................................................................................
<br />Calculation of the Statewide Fiscal Revenues Allocated to Indian River County
<br />Indian River County - State/County Tax Allocation
<br />50
<br />Corporate Profits Tax _ 100.00% 0.00%$102,563
<br />Dividends _ _ — — ----100.00% i 0.00%
<br />7-1
<br />$10,5361
<br />$0
<br />$0
<br />$102,563
<br />$10,536
<br />Indirect Business Taxes:
<br />Motor Vehicle Licenses
<br />100.00o/a ; 0.00%
<br />j $4- 9,354
<br />$0
<br />$49,354
<br />Other Taxes
<br />100.00%
<br />0.00%
<br />$293,614 ;
<br />$0
<br />$293,614
<br />Property Tax
<br />0.00%1 100.00%
<br />f $0
<br />$1,965,524
<br />$1,965,524
<br />State/Local Non Taxes
<br />50.00%
<br />1 50.00%_
<br />_$78,201 ----
<br />$2,417,735_i_$402,956
<br />$78,201
<br />$156,402
<br />$2,820,691
<br />_
<br />Sales Tax_85.71%1 14.29%
<br />Severance Tax 100.00% 1 _0.00%
<br />Personal Taxes:
<br />$3,641 i
<br />$0
<br />$3,641
<br />_
<br />Estate & Gift Tax
<br />Income Tax __—
<br />_ 100.00%1 0.00%
<br />I 100.00% i 0.00%
<br />— $0 ; $0
<br />$0 $0$0
<br />— $0
<br />$0
<br />Motor Vehicle Licenses
<br />_ _' _ 100.00% I 0.00%
<br />L
<br />_
<br />_$48,602i
<br />$0
<br />`$48,602
<br />Non Taxes Fines - Fees)
<br />50.00%
<br />i 50.00%
<br />$106,859_;
<br />$106,8591
<br />$213,719
<br />Other Taxes (Fish / Hunt)
<br />100.00%
<br />: 0.00%
<br />$3,249
<br />$0 i
<br />$3,249 i
<br />Property Tax
<br />_ 0.00%
<br />100.00%
<br />$0 '
<br />$18,6161
<br />$18,616
<br />Social Insurance Taxes:
<br />Employee Contribution
<br />— 100.00%1
<br />0.00%
<br />$16,515 j
<br />$0
<br />$16,515
<br />Employer Contribution
<br />— _ 100.00%!
<br />0.00%
<br />$32,25_5 1$0
<br />$32,255
<br />Total State and Local Taxes
<br />$3,163,123
<br />$2;572;.56-
<br />$5,735,279
<br />Source: The Washington Economics Group, Inc. (WEG)
<br />_ _
<br />Calculation of the Total Investment Made By Indian River County in Enacting
<br />Performance -Based Incentives for Targeted Companies, 2007 -Present
<br />Total Local Jobs Grants Approved and Awarded by the County $785,989
<br />Total Tax Abatement Provided $873,232
<br />Total investment to the Chamber's Economic Development Efforts $1,314,992
<br />Grand Total $2,974,213
<br />..............................................................................................................................................................................................................................
<br />The Washington Economics Group, Inc. (WEG) Page 113
<br />-7.A.15.
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