All of the money raised by the tax increase in Bay County is planned to be spent attracting an airline. Only part of the money raised in Walton County by the 1-cent increase would go toward attracting an airline. More would be spent as an investment in the area to attract additional tourists and ultimately, businesses.
Projects mentioned are a sports complex and a performing arts center. A sports complex (ball fields, swimming pool, etc.) would not only benefit local familes, but events such as a major youth soccer tournament (1st annual event currently being planned) drawing teams from across the southeast, would fill up a lot of rentals and benefit local businesses by creating additional revenue.
Such a complex would also offer the space to properly conduct even larger outdoor events throughout the year - think music festival, car show, etc.
A performing arts center has obvious benefits for culture and economic opportunities, while benefitting existing companies like the Seaside Rep.