Efforts to Bring Businesses to Bradenton a Boost to the Real Estate Market


SARASOTA, FLORIDA, June, 4, 2013 – Concerted efforts at state and county levels to attract new business locators and spur job creation augur well for the Florida real estate industry reports Sarasota Bay Real Estate. Among these initiatives, the full service realty firm noted, is the $71 million that Florida legislators have approved as economic incentives for enterprises choosing to relocate their businesses in the state. These come-ons were included in the Florida budget passed this May for the fiscal year to start this July.

In Manatee County, meanwhile, the Bradenton Area Economic Council is currently campaigning for the approval of the Economic Development Ad Valorem Tax Exemption which will be voted upon in a public referendum this June 18. This measure seeks to empower the county’s commissioners to grant property tax exemptions to companies investing in Manatee County which is currently uncompetitive with its nearby counties that already adopted the ad valorem tax abatement program.

Job creation spurs household formation

Under state laws, local governments are allowed to grant up to 100% property tax exemptions for 10 years. These statutes also set the criteria to determine the percentage and time span of exemptions.

The local government’s tax holidays are distinct from what the state government grants. It is common practice for counties wooing investors to match the state incentives in order to make them more attractive to business locators.

For the coming fiscal year, the $71 million tax incentive package allocated in the state of Florida budget approved by the House and the Senate consists of $45 million new funding plus a $26.1 million rollover from the current budget. Florida granted close to $72 million in tax incentives for fiscal 2012. In the process, this created 13,000 new jobs with $69,000 average annual salary per position, serving as added stimulus to household formation and demand for homes, Sarasota Bay Real Estate said.

Added market drivers

New Businesses

The recent revitalization efforts at the downtown of Bradenton dovetails perfectly with Manatee County’s bid to draw more businesses to its fold, the realty company added. For instance, the newly rebuilt Hampton Inn, formerly known as the Pink Palace that traces its roots to the 1920s Manatee River Hotel, is set to open before year-end. Two craft brewers—The Little Giant Brewery and Motorworks Brewery—are also set to open this August in the city’s downtown district.

These developments, coupled with existing attractions such as the Riverwalk at Rossi Park, should further whet the interest of prospective home buyers in search of properties around Bradenton’s central district.

Affordable Bradenton homes for sale

For competitively priced choices, Village Green, which is a short distance west of the downtown, has listings among Bradenton homes for sale in the low $100s. These available residences have two to three bedrooms in their floor areas of up to 1,600-plus square feet. At the low $200s, sales-listed residences in this subdivision feature floor plans measuring up to 2,100 square feet.

Asking prices as attractive can be found in the Braden River Lakes community, east of the downtown. The floor area of an available property in this subdivision with an asking price in the high $100s is typically of two-bedroom design with a floor plan of between 1,400 and 1,900 square feet.