NCEDB Executive Director presented on the state of Fernandina Beach economic and growth opportunities to the Commission

1. Presentation to the City of
Fernandina Beach Commissioners
By Steve Rieck, Executive Director
February 18, 2014

2. Fernandina’s Population
Nassau County’s population will grow 18 times faster
than Fernandina Beach between now and 2025
1,134 new residents
20,754 new residents
Source: NEFRC; U.S. Census Bureau

3. Fernandina’s Population
2012 Share
2025 Share
0% 0%
0% 0%
13%
16%
Fernandina
Nassau
84%
Fernandina
Nassau
87%
Source: NEFRC; U.S. Census Bureau

4. Fernandina’s Population
Population Trends
•
•
•
Fernandina’s population growth
rate has begun to level off
The 65+ age cohort is the
fastest growing (almost 400%
since 1970)
The 0-4 and the 5-19 age
cohorts as a percentage of
population have both
decreased since their peaks in
1990 (they represented 20% of
total population in 1970; 17% in
2010)
Source: NEFRC; U.S. Census Bureau

5. Fernandina’s Population
Percent of Working Aged Residents
Nassau
36.9%
Fernandina
31.7%
Source: NEFRC; U.S. Census Bureau

6. Household Income
Concentration of Wealth: Percent of Households reporting income greater
than $100,000
Source: NEFRC; U.S. Census Bureau

7. Household Income
Median Household Income
Source: Nassau County Property Appraiser

8. Household Income
And there’s a greater concentration of poverty in
Fernandina than in Nassau county—
In Fernandina Beach, 13.2 percent of families live below
the poverty level, while in Nassau County the
percentage is 7.2 percent
Source: NEFRC; U.S. Census Bureau

9. Tax Structure
• Fernandina’s share of “total just property” fell
from 25% in 2008 to 23% in 2013.
• Fernandina’s just property values continued their
five-year decline in 2013 while unincorporated
Nassau County saw values increase by 10.5%.
• Fernandina represents 55.6% of the total taxable
value for Industrial Property and 49.8% of the
total taxable value for Personal Property
reflecting the importance of the two mills in the
city’s economy.
Source: Nassau County Property Appraiser

10. Conclusions
• Fernandina’s population will stabilize at about
12,000 residents over the next 10-15 years and will
continue to get older.
• There’s a growing divide between Fernandina’s
wealthy and poor.
• It’s getting harder for middle class workers to find
affordable housing on Amelia Island.
• Without the presence of Fernandina’s two mills, the
city would have to rely almost exclusively on
residential property taxes to provide services to
citizens.

11. Conclusions
• BUT… For every $1 generated by residential
property taxes, the government spends $1.38 in
services.
• On the other hand, commercial, industrial and retail
property taxes save taxpayers money in the long run.
A dollar generated by business taxes only results in
the need for 48 cents worth of services.
Source: Fishkind & Associates, 2008

12. “Fernandina’s future”
Part of the City’s 2030
Comprehensive Plan
• Strengthens new growth and
redevelopment opportunities
within the community while
balancing the needs of its
citizens, its unique character,
and its cultural, historical, and
environmental resources.
• Provides for an articulated and
shared vision of where the City
wants to go and what things
residents and businesses value.

13. “Fernandina’s future”
• Establishes a coordinated
intergovernmental and
public/private partnership
approach to lead economic
development strategies
• Identifies targeted industries and
businesses
• Promotes year-round tourism
and expands visitor demand
• Identifies “Job Opportunity
Areas” throughout the City

14. “Fernandina’s future”
1
3
2
4
5
1.
2.
3.
4.
5.
Central business district
8th Street/14th Street corridors
Main beach
Sadler/Fletcher corridor
Fernandina Beach Municipal
Airport

15. How can you help?
• Become personally involved in one or more
Job Opportunity Area working groups.
• Consider revising and adopting policies that
are consistent, fair, and that will make
Fernandina Beach more attractive to
business.
• Provide leadership in dealing with tough
issues like infrastructure repair and city
services.

16. “Aaron Bell’s kids”
“Nassau County needs good
jobs. We need working people
and families. We are not all
retired folk—at least, not yet. I
feel it is easy to lose sight of the
need to help young people such
as myself to work, own homes,
raise their children and give
back to the community. Most
parents hope that their children
can find a job locally and stay in
the community where they grew
up.”

17. Questions?