Editorial
Publix Super Markets is planning to expand its IT Department to downtown Lakeland by purchasing and upgrading the FedEx building and adding an estimated 100 new jobs in three years, according to documents.
Polk County Commissioners gave Publix an additional $250,000 plus a 10-year exemption on 75% of the ad valorem taxes that would be paid on the assessed value of its improvements to the facility at 333 E. Lemon Street; it also requested exemption of qualifying tangible personal property taxes.
The ad valorem tax exemptions are estimated to cost the county in lost revenue in the 10 years of $3,522,845 due to this agreement.
Total loss of taxpayer money over 10 years $4,022,845.00
So why are we giving corporate welfare on the backs of the taxpayers to a local billion-dollar company?