City is already in Economic Development business

Both Charlie Fairchild and Jerry Maygarden have said the City of Pensacola government shouldn’t be in the economic development business. Well, it already is.

The City of Pensacola owns two of the county’s biggest economic development assets – the Pensacola Airport and the Port of Pensacola. Plus, the City owns the gas utility that depends on customer growth in the unincorporated areas of the county. The Airport, Port and Energy Services of Pensacola have budgets totaling $84 million and contribute $9.6 million towards the City’s General Fund—which equals 71 percent of the property taxes collected.

The City of Pensacola depends on Economic Development almost as much as it does property taxes. It is key to economic development in the region.