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Significant incentives are available to companies locating or expanding in the State of Florida.  The following major business incentive programs are currently being offered by the State of Florida:
 

State of Florida Targeted Industry Incentives:

Qualified Target Industry Tax Refund (QTI)

  • Available for companies that create high wage jobs in targeted high value-added industries.
  • Includes refunds on corporate income, sales, ad valorem, intangible personal property, insurance premium, and certain other taxes.
Pre-approved applicants who create jobs in Florida receive tax refunds of:     

  • Available for companies that create high wage jobs in targeted high value-added industries.
  • $3,000 per net new job; $6,000 in an Enterprise Zone or Rural Community (county).
  • For businesses paying 150 percent of the average annual wage, add $1,000 per job.
  • For businesses paying 200 percent of the average annual salary, add $2,000 per job.
  • Businesses falling within a designated high impact sector or increasing exports of its goods through a seaport or airport in the state by at least 10 percent in value or tonnage in each year of receiving a QTI refund, add $2,000 per job.
  • Projects locating in a designated Brownfield area (Brownfield Bonus) can add $2,500 per job.

Qualified Defense and Space Contractor Tax Refund (QDSC)

  • Gives Florida defense, homeland security, and space business contractors a competitive edge in consolidating contracts or subcontracts, acquiring new contracts, or converting contracts to commercial production.
  • Pre-approved applicants creating or retaining jobs in Florida may receive tax refunds of $3,000 per net new Florida full-time equivalent job created or retained.
  • $6,000 in an Enterprise Zone or rural county.
  • For businesses paying 150 percent of the average annual wage, add $1,000 per job.
  • For businesses paying 200 percent of the average annual salary, add $2,000 per job.

Capital Investment Tax Credit (CITC)

  • Used to attract and grow capital-intensive industries in Florida.
  • Annual credit, provided for up to twenty years, against the corporate income tax.
  • Eligible projects are those in designated high-impact portions of the following sectors: clean energy, biomedical technology, financial services, information technology, silicon technology, transportation equipment manufacturing, or be a corporate headquarters facility.
  • Projects must also create a minimum of 100 jobs and invest at least $25 million in eligible capital costs. Eligible capital costs include all expenses incurred in the acquisition, construction, installation, and equipping of a project from the beginning of construction to the commencement of operations.
  • Annual credit determined by the level of investment and the project's Florida corporate income tax liability for the 20 years following commencement.

High Impact Performance Incentive Grant (HIPI)

  • A negotiated grant used to attract and grow major high-impact facilities in Florida.
  • Grants are provided to pre-approved applicants in certain high-impact sectors designated by the State of Florida.
Grant requirements:
  • Operate within designated high-impact portions of the following sectors-- clean energy, corporate headquarters, financial services, life sciences, semiconductors, and transportation equipment manufacturing.
  • Create at least 50 new full-time equivalent jobs (if a R&D facility, create at least 25 new full-time equivalent jobs) in Florida in a three-year period.
  • And make a cumulative investment in the state of at least $50 million (if a R&D facility, make a cumulative investment of at least $25 million) in a three-year period.
  • Once approved, the high impact business is awarded 50 percent of the eligible grant upon commencement of operations and the balance of the awarded grant once full employment and capital investment goals are met.

State of Florida Infrastructure Incentive:

Economic Development Transportation Fund

  • Commonly referred to as the "Road Fund," it is an incentive tool designed to alleviate transportation problems that adversely impact a specific company's location or expansion decision.
  • The award amount is based on the number of new and retained jobs and the eligible transportation project costs, up to $3 million.
  • The award is made to the local government on behalf of a specific business for public transportation improvements.

State of Florida Special Opportunity Incentives:

Rural Incentives: Florida encourages growth by offering increased incentive awards and lower wage qualification thresholds in its rural counties. Additionally, a Rural Community Development Revolving Loan Fund and Rural Infrastructure Fund exist to meet the special needs that businesses encounter in rural counties.

Rural Enterprise Zone Incentives: Florida’s Great Northwest has 9 rural counties in the central portion and one rural county in the eastern portion of the 16 counties. All of these counties are designated as Rural Area of Critical Economic Concern (RACEC) by the Governor’s office. As such, they are also Rural Enterprise Zones with enhanced incentives available for a company locating in of those counties. These incentives include a sales and use tax credit, tax refund for business machinery and equipment used in an enterprise zone, sales tax refund for building materials used in an Enterprise Zone, and a sales tax exemption for electrical energy used in an enterprise zone.

Urban Enterprise Zone Incentives: There are urban enterprise zones located in Florida’s Great Northwest in Tallahassee, Crestview and three in Escambia County. Florida offers increased incentive awards and lower wage qualification thresholds for businesses locating in these zones. The incentives for urban enterprise zones are the same as those for the rural enterprise zones.

Brownfield Incentives: Florida offers incentives to businesses that locate in Brownfield sites, which are underutilized industrial or commercial sites due to actual or perceived environmental contamination. The Brownfield Redevelopment Bonus Refund is available to encourage Brownfield redevelopment and job creation. Approved applicants receive tax refunds of up to $2,500 for each job created.

Local Government Distressed Area Matching Grant Program (LDMG)
  • Stimulates investment in Florida's economy by assisting local governments in attracting and retaining targeted businesses.
  • Applications are accepted from local governments/municipalities that plan on offering financial assistance to a specific business in the area.
  • Targeted businesses are required to create at least 15 full-time jobs and the project must either be new to Florida; expanding operations in Florida; or leaving Florida unless it receives local and state government assistance.
  • The amount awarded by the State of Florida will equal $50,000 or 50% of the local government's assistance amount, whichever is less, and be provided following the commitment and payment of that assistance.

State of Florida Workforce Training Incentives:

Quick Response Training Program (QRT)

  • An employer-driven training program designed to assist new value-added businesses and provide existing Florida businesses the necessary training for expansion.
  • A state educational facility—community college, area technical center, school district or university—is available to assist with application and program development or delivery.
  • The educational facility will also serve as fiscal agent for the project.
  • The company may use in-house training, outside vendor training programs or the local educational entity to provide training. Reimbursable training expenses include: instructors'/trainers' wages, curriculum development, and textbooks/manuals.
  • This program is customized, flexible, and responsive to individual company needs. To learn more about the QRT program, visit CareerSource Florida.

Incumbent Worker Training Program (IWT)

  • Provides training to currently employed workers to keep Florida's workforce competitive in a global economy and to retain existing businesses.
  • Available to all Florida businesses that have been in operation for at least one year prior to application and require skills upgrade training for existing employees.
  • Priority is given to businesses in targeted industries, Enterprise Zones, HUB Zones, Inner City Distressed areas, Rural Counties and areas, and Brownfield areas. For additional information on the IWT program, visit CareerSource Florida.

FFlorida offers Sales and Use Tax Exemptions on:

  • Machinery and equipment used by a new or expanding Florida business to manufacture, produce or process tangible personal property for sale
  • Labor, parts and materials used in repair of and incorporated into machinery and equipment
  • Electricity used in the manufacturing process
  • Certain boiler fuels (including natural gas) used in the manufacturing process
  • Semiconductor, defense and space technology-based industry transactions involving manufacturing equipment
  • Machinery and equipment used predominantly in research and development
  • Labor component of research and development expenditures
  • Commercial space activity — launch vehicles, payloads and fuel, machinery and equipment for production of items used exclusively at Spaceport Florida
  • Aircraft parts, modification, maintenance and repair, sale or lease of qualified aircraft
  • Production companies engaged in Florida in the production of motion pictures, made for television motion pictures, television series, commercial music videos or sound recordings.

Northwest Florida Regional and Local Incentives:

In addition to the state incentives, many of the local counties and communities in Northwest Florida offer incentives to new and expanding companies. Those local incentives include expedited permitting, tax abatements and enhanced performance-based payments based on employment and capital investment.

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