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Jobs and Economic Opportunities Trust Fund
What is the Jobs and Economic Opportunities Trust Fund?
Pasco County has been fortunate. In November, 2012, the voters of Pasco County renewed the Penny for Pasco sales tax referendum that included a provision to use a portion of the funds as a source to incentivize economic development projects. At that time, revenue projections estimated that approximately $45 million dollars would be generated to help fund the Office of Economic 
Growth to encourage private industry create target industry jobs for our residents and the region. 

January 1, 2015 marks the beginning of the collection of the sales tax that will aid in the implementation of the County's dynamic adopted Economic Development Plan



How does this work? Authorizing Resolution.
Staff from the Office of Economic Growth are currently partnering with the Board of County Commissioners and interested community members to create the program. Supported by the Board's Strategic Plan and the Economic Development Plan, Resolution 15-110,  was adopted on March 24, 2015. This authorizing resolution provides the basis for the expenditures of the Jobs and Economic Opportunity Trust Funds. 

Resolution 15-110
contains provisions that describes the purpose and intent of the program, procedures for staff and the Board of County Commissioners to solicit and rank projects, and a procedure for the Office of Economic Growth to accept unsolicited proposals. In a separate resolution, the Board of County Commissioners has established the Jobs and Economic Opportunities Committee. 

This committee is anticipated to be comprised of individuals who have expertise in the fields of manufacturing, financing/banking, agriculture, real estate, and other target private industry sectors and will be confirmed for participation through the Board of County Commissioners.This group will be charged to keep a watchful eye on the use of the Jobs and Economic Opportunities Trust Fund  and ensure that the promises made to the voters will be kept and that the expenditures of the funds meet the requirements set forth in the resolution to be adopted by the Board of County Commissioners. 

What is the Promise to the Voters?
In the ordinance and resolution authorizing the referendum for November 9, 2012, the Board of County Commissioners promised that the Jobs and Economic Opportunities Trust Fund would:

“…provide financial support for job creation generated and economic development projects having a general public purpose of improving the local economy…”

and would improve

“…the local economy through incentivizing economic development.”

Click here for more information about Penny for Pasco. 

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