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County grants 10-year ad valorem tax exemption to TalkingParents expansion
Summary
Okaloosa County approved an economic development ad valorem tax exemption for TalkingParents (TalkingParents/Bit Wizards) for a proposed new 50,869-square-foot office and $15 million facility at Freedom Tech Center; the company pledged 30 new jobs by 2028 with an average salary above the county threshold and the exemption is performance-based.
Okaloosa County commissioners on July 1 adopted an ordinance granting a performance-based ad valorem tax exemption for TalkingParents to support an expansion at Freedom Tech Center in Fort Walton Beach.
Project details: Planning staff and Nathan Sparks of the Okaloosa Economic Development Council said TalkingParents would enter a build-to-suit leaseback for a 50,869-square-foot Class A office building and related equipment purchases estimated at $1 million. The total proposed capital investment was presented as $15,000,000 for the facility and $1,000,000 for equipment. TalkingParents’ CEO, Vince Mayfield, attended the public hearing and thanked the board.
Jobs and wages: The company committed to creating 30 additional full-time jobs by the end of 2028 on top of the 64 existing local jobs. Staff said the new jobs will pay an average of $75,000 annually, above the county’s job-wage qualification threshold (discussed in staff materials as 110% of county average wage). The property-appraiser analysis in the staff packet estimated that a full 10-year exemption at 100% would translate to $479,116 in county tax exemption over 10 years (roughly $459,696 for the facility and $19,420 for equipment), and that new improvements become fully taxable after the exemption period.
Performance conditions: The exemption is performance-based. The county’s economic development program requires annual reporting and certification that the company has met its investment and job-creation commitments; failure to meet metrics would make the company ineligible for the exemption in the affected year.
Board action: After the public hearing and a statement from CEO Vince Mayfield, the board voted unanimously to adopt the ordinance granting the exemption. Staff noted a University of West Florida investigator estimate that the expansion could generate substantial annual economic impact to the community; the UWF Haas Center analysis was provided as additional context in the packet.
