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Fort Myers board urges performance‑based economic investments, not open‑ended incentives
Summary
At its May 1 meeting the Economic Development Advisory Board recommended council workshop focus on structuring municipal incentives as investments tied to measurable returns, citing examples including job targets, wage floors and clawbacks.
The City of Fort Myers Economic Development Advisory Board pressed city leaders to reshape how the city offers incentives, recommending performance‑based agreements that the board said should look and act like investments. Economic Development Director Weathers urged the change, saying the city should expect measurable returns when it foregoes revenue.
"I like the word investment," Economic Development Director Weathers said. "If I'm a city and we're giving you a $1,000,000 tax break… I want to see 100 jobs at a minimum wage of $19 an hour created within two years. And if you only deliver half, we take half that incentive back." The board discussed structure, clawbacks, and tradeoffs — including whether fee waivers or expedited permitting are more effective than cash grants.
Weathers illustrated the tradeoffs with a recent council discussion about an Amazon project that would pay a $9 million impact fee, noting that waiving such fees shifts infrastructure costs to taxpayers. Board members debated what the city's tolerance should be for using impact‑fee discounts versus other forms of targeted support and asked staff to draft options for a council workshop.
Why it matters: Board members said the city is entering a redevelopment phase and may need to be proactive about what kinds of projects it will support. The group recommended the council workshop include clear criteria (jobs, wages, capital investment thresholds and timelines) and sample contract language so decisionmakers can weigh the fiscal impacts alongside expected economic benefits.
What happens next: Staff agreed to bring proposed incentive/investment approaches to a city council workshop for discussion and possible direction.
