Mosaic brings many benefits to the counties where we operate. In addition to the jobs provided by Mosaic, our operations generate additional revenues for county governments as well as a significant boost to local philanthropic organizations.
Most areas we mine were previously zoned for agricultural use and must be rezoned for mining. As a result of this rezoning, property tax revenue from the land increases by millions, providing benefits to local schools and governments. In addition to property tax revenue, county governments receive a portion of the severance tax paid on each ton of phosphate rock mined at our facilities. With new mining operations, an entirely new revenue stream is created for the county government which can be invested in services for its citizens.
For example, the DeSoto mine plant construction is expected to require a capital investment from Mosaic of nearly $1 billion. This investment creates a ripple effect to surrounding businesses and a further increase in tax revenues for the county government. Construction of the plants will result in the creation of significant temporary construction jobs at the site.
Aside from the company’s cash investments in our operations, we believe that we have a responsibility to support the communities where we operate. After all, this is where we live, work and play as well. Each year, the company contributes millions of dollars to Central Florida charities and the United Way.
During the 2019 calendar year, Mosaic’s economic impact in Florida included:
• $446 million in payroll
• $448 million in capital expenditures
• $39 million in land reclamation
• $30 million in county tangible and real estate taxes
• $36 million in state severance and sales taxes
• $743,000 to United Way organizations in Florida