2008 membership directory - Panama City Beach Chamber of ...

Earning
pCounty. The assessed value of
property in the City was $4.5 billion
in 2006. Panama City Beach
has the largest utility system
(water & sewer) in the county with
over 20,000 customers.
anama City Beach is a fairly new City; it was formed
less than 40 years ago. Property-wise the City of
Panama City Beach is the most valuable city in Bay
The City has 251 employees. The
police department consists of 57
personnel with 38 of those patrol
officers. The City employs 28 professional
fire fighters who are also
first responders. The City budget
is $138 Million ($78 Million without
the Community Redevelopment
Agency). The City operates
on revenues coming from 1%
business registration tax and franchise fees. This revenue
continues to increase about 8% per year. There
is no property tax in Panama City Beach.
Key Economic Sectors
Several key “new economy” sectors in Bay County
offer large growth potential and overall economic
impact. Life Sciences – including hospitals, clinics,
treatment centers, medical manufacturing, pharmaceuticals
– bring more businesses and vendors to the
Taxes
PCB Millage Rates 0
Bay County Bed Tax 3%
Bay County Millage Rates
Government 3.7915
Schools 6.4710
Special .0450
Total 10.3075
State Tax
Corporate Income Tax 6.0 %
Personal Income Tax 0.00 %
Retail Sales Tax 6.00 %
City Sales Tax 1.00 %
Ad Valorem Tax Exemption Yes
Retail Sales Tax 0.5
Source: Bay County Property Appraiser
area. Information Technology is a growing sector.
Aviation and Aerospace are strong and growing sectors;
established military bases like Eglin, Tyndall and
Naval Support Activity have the
resources to attract commercial
aviation and launch smaller
research companies focused
on homeland security defense.
Manufacturing is another solid
industry in Bay County.
City Stats & Facts
• Expected Panama City Beach
Winter Residents: 13,000-15,000
• Season begins in mid-October,
peaks in January; most will leave
by the end of March/early April
• Most will be traveling from
Canada and the Midwest
• About 60% come from the
Ontario, Canada market
• Winter residents will generate an expected $28-30
million in direct expenditures for Panama City Beach
• Expected PCB Spring Breakers: 250,000-300,000
• Season begins late February and ends early April
• Spring Breakers are expected to generate $60 million
in direct expenditures for the Panama City Beach area
• Overnight Visitors (annually) 4.5 million
• Day Visitors (annually)
2 million
Source: Convention and Visitor’s Bureau
• BUSINESS
COMMUNITY
• TAXES
• KEY ECONOMIC
SECTORS
• CITY STATS & FACTS
• WORKFORCE
• JOB MARKET
TOP: Innovations Federal Credit
Union, Panama City Beach.
PCBeach.org Relocation Guide & 2008 Membership Directory 27