September 10, 2025 • 9 mins
There are many more opportunities available through local incentives. As the Business Development Board of Palm Beach County notes, they serve as a connection to grants, assistance, and financial incentives available through the State of Florida, Palm Beach County, and local municipalities. There may or may not be grant or related incentive opportunities for select local businesses, but one would never know unless the questions are asked, and the opportunities are explored. Many business owners aren’t aware of these potential opportunities.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
Have a question or topic you want to have addressed.
Just ask. This is the Brian Mud Show. Yeah, Today's que.
Speaker 2 (00:13):
And a our local incentives for business relocations worth it.
This is brought to you by mon Listen Ashes, check
Mark collections. Each day I feature a listener question sent
by one of these methods. You may email me Brian
Mud at iHeartMedia dot com, hit me up on social
ats Brian Mud Radio. You may also use the iHeartRadio
(00:33):
talk bag feature. Love it if you would go into
the app make us your number one preset and the
Brian Mudshow podcast number two pre set. While you're in there,
look for the little microphone button. See it, tap it.
You may lay down a message right there, maybe for
a future Q and a Today's That is this?
Speaker 1 (00:47):
Hey, Brian, love.
Speaker 2 (00:48):
The show and the fact that you use analytics and
statistics to inform and educate us. Joel's awesome too. You
had a story this week, got a nice nod and smile.
Audigil story this week about a company, and I forgot
the name of the company that is moving here and
bringing eight hundred and twenty five jobs. This is generally
spoken of as a good thing, but I'm struggling.
Speaker 1 (01:09):
With why that is.
Speaker 2 (01:10):
The general theory is that it brings more tax money
in and helps with the tax burden. If that's the case,
why are my proposed taxes higher for my house and
quite a bit higher for my warehouse?
Speaker 1 (01:20):
The only thing I see that is added is congestion.
Speaker 2 (01:24):
Furthermore, I've always been a free market person, So if
it's good for a company to move here, why does
the government need to give them money? Aren't they putting
their finger on the scale. I've had a small business
here for thirty years and have never received money or
incentives from the government. Well, I appreciate the note, and
I hear you and understand before diving into the analytics.
(01:47):
You know, I do commonly hear concerns voiced by local
business owners who questioned why it is that relocating or
expanding companies are often incentivized to move their businesses to
our area. Will often small business owners who've always been
here just I've never received assistance, And as a former
entrepreneur and small business owner, I do get it. You know.
Speaker 1 (02:06):
When I first when I started.
Speaker 2 (02:07):
My first company in the nineties as a teenager, I
didn't get any insteatives. In fact, my business plan was
rejected by numerous lenders before I finally found a lender
willing to work with me on the eighty thousand dollars
loan that I needed to launch my company.
Speaker 1 (02:22):
So the whole thing was a struggle.
Speaker 2 (02:24):
But nevertheless, it's understandable that when you hear millions of
dollars of being doled out to recruit businesses to our
area a mid rising taxes, no less, you might have
a bit of resentment. And I'll start by breaking down
the situation at hand. So recently, Palm Beach County's Business
Development Board announced the awarding of a total of seventeen
(02:48):
million dollars to a yet named company that is set
to establish a business location in city place with an
agreement for the creation of at least eight hundred and
fifty six jobs. There are provisions in the agreement that
would result in less money being awarded if the company
didn't deliver on at least the agreed to number of jobs. Now,
(03:09):
because the Business Development Board of Palm Beach County was
involved in the facilitation of this deal, there might be
some confusion about where the grant money is coming from.
Palm Beach County is not the entity awarding the grant money,
but rather fifteen million dollars is being awarded through the
state of Florida, with the remaining two million dollars awarded
(03:31):
by the city of West Palm Beach over the course
of six years. Now, due to a Bloomberg report, it
is believed that the company involved is Service Now. They
are a nearly two hundred billion dollar aiicloud computing company.
Speaker 1 (03:46):
They're a big time player.
Speaker 2 (03:48):
The Bloomberg report state Service Now could eventually add thousands
of employees in Florida, and that they've considered relocating their
corporate headquarters from Silicon Valley to West Palm Beach. So
I'm going to pause here to unpack a few things
now that we've established the details of the likely situation
in play. The first is where the money is coming from.
(04:10):
I'm not sure if the combination of the state in
West's Palm Beach combo for the grant funding changes your
perspective any but what I can offer is this, often
incentives like what we're discussing here don't happen by happenstance.
It's through intentionality as they are sought out by the businesses.
(04:31):
For example, case if it is serviced. Now they might go,
all right, we're interested in moving to West Palm Beach.
What's available for us to do so? And then they
have people dig in, ask questions and see if there
is an opportunity for them to benefit by doing so,
and then they'll do the same and maybe other locations
and have different locales compete against one another.
Speaker 1 (04:53):
It's just kind of good business for them that way.
Speaker 2 (04:56):
For example, did you know, and a lot of people
probably did not, that there are multiple business grant opportunities
that are currently opened through the State of Florida right now.
In fact, this story is up with all my stories
to Brian Mundshow blog. I have the direct link to
grant opportunities for businesses through the State of Florida.
Speaker 1 (05:14):
You can go check it out.
Speaker 2 (05:15):
There are many more opportunities available through local incentives, as
the Business Development Board of Palm Beach County notes, they
serve as a connection to grants, assistance, and financial incentives
available through the State of Florida, Palm Beach County, and
local municipalities. So there may or may not be grant
or related incentive opportunities for select local businesses, but one
(05:39):
would never know unless the questions are asked and the
opportunities are explored, and the bottom line is that many
business owners just aren't aware of.
Speaker 1 (05:48):
These potential opportunities.
Speaker 2 (05:50):
And so that is maybe one of the more instructive
points and something I think is important in this conversation
to have so that you know whether it's you or other.
Speaker 1 (05:58):
Companies might look into it now.
Speaker 2 (06:02):
To be fair, in most instances, these significant incentives issued
will come with hefty guarantees of jobs and money being
brought into the community that most startups and small businesses
would find to be too steep. But again, you don't
know until you try. The next thing to unpack in
today's example is the economic impact if in fact it
(06:22):
proves to be service Now that is going to be
delivering eight hundred and fifty six plus jobs to West
spam Beach. Independent of any of the money being spent
by the company and opening a location here and operating it,
there's the impact of the employees alone that will be
hired or and or relocated here. The average earnings of
(06:43):
a service Now employee are one hundred and nineteen thousand
dollars per year. That is far greater than double the
average full time salary of just over fifty thousand dollars
currently in West spam Beach. In addition to the high
paying jobs, that means they'll be paying the new West
Palm Beach employees over one hundred million dollars annually in income.
(07:06):
So having that much additional income generated will without a doubt,
have a meaningful economic impact on many area businesses, perhaps yours,
I'm not sure what you.
Speaker 1 (07:17):
Do, but maybe even yours. In addition to the tax base.
But about the tax base, as.
Speaker 2 (07:23):
You mentioned, the general theory is that it brings more
tax money in and helps with the tax burden. If
that's the case, why are my proposed taxes higher for
my house quite a bit higher for my warehouse.
Speaker 1 (07:34):
This is a great point. It's a great point.
Speaker 2 (07:36):
Now from the perspective of local officials, they tend to
look at the dynamic as adding to the tax base
as opposed to helping with the tax burden, so to speak. So,
in other words, the goal is to continue to grow
the economy locally so that we don't have a stagnant
or receding economy and can hopefully improve the overall quality
of life through higher incomes and career opportunities. Now, With
(07:58):
that said, your point here is exactly right, and in fact,
it's at the foundation of the recently enacted Florida dojaudits
and is the impetus behind Governor DeSantis's push to end
property taxes on home stead of properties. Now, what we've
commonly seen at the local government level is that rising
tax bases have not resulted in lower tax burdens for residents,
(08:20):
but rather simply more government spending and what could be
argued to be bloated local governments. As my recent analysis
of Palm Beach County showed, over the past five years,
the county spending has grown at a rate that is
fifteen percent faster than the rate of population growth adjusted
for inflation. But rather than reducing the tax burden on
(08:41):
residents by the equivalent of fifteen percent, which would obviously
be significant, they've spent it. But that ultimately comes back
to us and who we elect to represent our interests.
Had residents chosen a majority of fiscally conservative commissioners who
would return excess proceeds back to their constituents, we could
have had those meaningful tax breaks. However, that has just
(09:02):
not been the case. Save a couple of minor militrate
reductions that amounted to well less in the increases in
property assessments. So that is the dynamic that the Doze
audits will seek to expose to educate voters heading into
next year's election, which we've been told will come with
the ability to vote on dramatically reducing or potentially eliminating
in the case of homesteaded properties.
Speaker 1 (09:24):
Are property taxes
Have a question or topic you want to have addressed.
Just ask. This is the Brian Mud Show. Yeah, Today's que.
Speaker 2 (00:13):
And a our local incentives for business relocations worth it.
This is brought to you by mon Listen Ashes, check
Mark collections. Each day I feature a listener question sent
by one of these methods. You may email me Brian
Mud at iHeartMedia dot com, hit me up on social
ats Brian Mud Radio. You may also use the iHeartRadio
(00:33):
talk bag feature. Love it if you would go into
the app make us your number one preset and the
Brian Mudshow podcast number two pre set. While you're in there,
look for the little microphone button. See it, tap it.
You may lay down a message right there, maybe for
a future Q and a Today's That is this?
Speaker 1 (00:47):
Hey, Brian, love.
Speaker 2 (00:48):
The show and the fact that you use analytics and
statistics to inform and educate us. Joel's awesome too. You
had a story this week, got a nice nod and smile.
Audigil story this week about a company, and I forgot
the name of the company that is moving here and
bringing eight hundred and twenty five jobs. This is generally
spoken of as a good thing, but I'm struggling.
Speaker 1 (01:09):
With why that is.
Speaker 2 (01:10):
The general theory is that it brings more tax money
in and helps with the tax burden. If that's the case,
why are my proposed taxes higher for my house and
quite a bit higher for my warehouse?
Speaker 1 (01:20):
The only thing I see that is added is congestion.
Speaker 2 (01:24):
Furthermore, I've always been a free market person, So if
it's good for a company to move here, why does
the government need to give them money? Aren't they putting
their finger on the scale. I've had a small business
here for thirty years and have never received money or
incentives from the government. Well, I appreciate the note, and
I hear you and understand before diving into the analytics.
(01:47):
You know, I do commonly hear concerns voiced by local
business owners who questioned why it is that relocating or
expanding companies are often incentivized to move their businesses to
our area. Will often small business owners who've always been
here just I've never received assistance, And as a former
entrepreneur and small business owner, I do get it. You know.
Speaker 1 (02:06):
When I first when I started.
Speaker 2 (02:07):
My first company in the nineties as a teenager, I
didn't get any insteatives. In fact, my business plan was
rejected by numerous lenders before I finally found a lender
willing to work with me on the eighty thousand dollars
loan that I needed to launch my company.
Speaker 1 (02:22):
So the whole thing was a struggle.
Speaker 2 (02:24):
But nevertheless, it's understandable that when you hear millions of
dollars of being doled out to recruit businesses to our
area a mid rising taxes, no less, you might have
a bit of resentment. And I'll start by breaking down
the situation at hand. So recently, Palm Beach County's Business
Development Board announced the awarding of a total of seventeen
(02:48):
million dollars to a yet named company that is set
to establish a business location in city place with an
agreement for the creation of at least eight hundred and
fifty six jobs. There are provisions in the agreement that
would result in less money being awarded if the company
didn't deliver on at least the agreed to number of jobs. Now,
(03:09):
because the Business Development Board of Palm Beach County was
involved in the facilitation of this deal, there might be
some confusion about where the grant money is coming from.
Palm Beach County is not the entity awarding the grant money,
but rather fifteen million dollars is being awarded through the
state of Florida, with the remaining two million dollars awarded
(03:31):
by the city of West Palm Beach over the course
of six years. Now, due to a Bloomberg report, it
is believed that the company involved is Service Now. They
are a nearly two hundred billion dollar aiicloud computing company.
Speaker 1 (03:46):
They're a big time player.
Speaker 2 (03:48):
The Bloomberg report state Service Now could eventually add thousands
of employees in Florida, and that they've considered relocating their
corporate headquarters from Silicon Valley to West Palm Beach. So
I'm going to pause here to unpack a few things
now that we've established the details of the likely situation
in play. The first is where the money is coming from.
(04:10):
I'm not sure if the combination of the state in
West's Palm Beach combo for the grant funding changes your
perspective any but what I can offer is this, often
incentives like what we're discussing here don't happen by happenstance.
It's through intentionality as they are sought out by the businesses.
(04:31):
For example, case if it is serviced. Now they might go,
all right, we're interested in moving to West Palm Beach.
What's available for us to do so? And then they
have people dig in, ask questions and see if there
is an opportunity for them to benefit by doing so,
and then they'll do the same and maybe other locations
and have different locales compete against one another.
Speaker 1 (04:53):
It's just kind of good business for them that way.
Speaker 2 (04:56):
For example, did you know, and a lot of people
probably did not, that there are multiple business grant opportunities
that are currently opened through the State of Florida right now.
In fact, this story is up with all my stories
to Brian Mundshow blog. I have the direct link to
grant opportunities for businesses through the State of Florida.
Speaker 1 (05:14):
You can go check it out.
Speaker 2 (05:15):
There are many more opportunities available through local incentives, as
the Business Development Board of Palm Beach County notes, they
serve as a connection to grants, assistance, and financial incentives
available through the State of Florida, Palm Beach County, and
local municipalities. So there may or may not be grant
or related incentive opportunities for select local businesses, but one
(05:39):
would never know unless the questions are asked and the
opportunities are explored, and the bottom line is that many
business owners just aren't aware of.
Speaker 1 (05:48):
These potential opportunities.
Speaker 2 (05:50):
And so that is maybe one of the more instructive
points and something I think is important in this conversation
to have so that you know whether it's you or other.
Speaker 1 (05:58):
Companies might look into it now.
Speaker 2 (06:02):
To be fair, in most instances, these significant incentives issued
will come with hefty guarantees of jobs and money being
brought into the community that most startups and small businesses
would find to be too steep. But again, you don't
know until you try. The next thing to unpack in
today's example is the economic impact if in fact it
(06:22):
proves to be service Now that is going to be
delivering eight hundred and fifty six plus jobs to West
spam Beach. Independent of any of the money being spent
by the company and opening a location here and operating it,
there's the impact of the employees alone that will be
hired or and or relocated here. The average earnings of
(06:43):
a service Now employee are one hundred and nineteen thousand
dollars per year. That is far greater than double the
average full time salary of just over fifty thousand dollars
currently in West spam Beach. In addition to the high
paying jobs, that means they'll be paying the new West
Palm Beach employees over one hundred million dollars annually in income.
(07:06):
So having that much additional income generated will without a doubt,
have a meaningful economic impact on many area businesses, perhaps yours,
I'm not sure what you.
Speaker 1 (07:17):
Do, but maybe even yours. In addition to the tax base.
But about the tax base, as.
Speaker 2 (07:23):
You mentioned, the general theory is that it brings more
tax money in and helps with the tax burden. If
that's the case, why are my proposed taxes higher for
my house quite a bit higher for my warehouse.
Speaker 1 (07:34):
This is a great point. It's a great point.
Speaker 2 (07:36):
Now from the perspective of local officials, they tend to
look at the dynamic as adding to the tax base
as opposed to helping with the tax burden, so to speak. So,
in other words, the goal is to continue to grow
the economy locally so that we don't have a stagnant
or receding economy and can hopefully improve the overall quality
of life through higher incomes and career opportunities. Now, With
(07:58):
that said, your point here is exactly right, and in fact,
it's at the foundation of the recently enacted Florida dojaudits
and is the impetus behind Governor DeSantis's push to end
property taxes on home stead of properties. Now, what we've
commonly seen at the local government level is that rising
tax bases have not resulted in lower tax burdens for residents,
(08:20):
but rather simply more government spending and what could be
argued to be bloated local governments. As my recent analysis
of Palm Beach County showed, over the past five years,
the county spending has grown at a rate that is
fifteen percent faster than the rate of population growth adjusted
for inflation. But rather than reducing the tax burden on
(08:41):
residents by the equivalent of fifteen percent, which would obviously
be significant, they've spent it. But that ultimately comes back
to us and who we elect to represent our interests.
Had residents chosen a majority of fiscally conservative commissioners who
would return excess proceeds back to their constituents, we could
have had those meaningful tax breaks. However, that has just
(09:02):
not been the case. Save a couple of minor militrate
reductions that amounted to well less in the increases in
property assessments. So that is the dynamic that the Doze
audits will seek to expose to educate voters heading into
next year's election, which we've been told will come with
the ability to vote on dramatically reducing or potentially eliminating
in the case of homesteaded properties.
Speaker 1 (09:24):
Are property taxes
Popular Podcasts
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Clay Travis and Buck Sexton Show
The Clay Travis and Buck Sexton Show. Clay Travis and Buck Sexton tackle the biggest stories in news, politics and current events with intelligence and humor. From the border crisis, to the madness of cancel culture and far-left missteps, Clay and Buck guide listeners through the latest headlines and hot topics with fun and entertaining conversations and opinions.