Orange County electorate on Tuesday voted to grant authority to county commissioners to provide property tax exemptions to new and expanding businesses, in an effort to encourage jobs.
Nearly 62 percent or 58,662 voters approved the Orange County referendum that had been put on the 2012 Presidential Preference Primary election ballot. Thirty-eight percent, or 36,260 voted against the tax abatement.
“I’m pleased by the outcome of the job-creation-tax abatement referendum,” said Orange County Mayor Teresa Jacobs, in a statement. “This economic development tool will help Orange County attract high-paying jobs in targeted industries and will help secure our long-term sustainability.” She elaborated, “This is another way to get our citizens back to work so they can provide for themselves and their families. I thank the voters for recognizing that this is a worthwhile investment in our local economy.”
It is unclear how many jobs are expected to be created and the likely cost to Orange County.
