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Incentives

Financial assistance can go a long way in making a future location more attractive. This assistance is provided on a case-by-case basis. Industry type, job creation, anticipated average wages and capital investment are some of the main determinants of incentives.

Operating in
Targeted Industries
Locating in
Specific Areas
Hiring and/or
Training Employees
Infrastructure
Improvements
Tax Exemptions CUSTOMIZED
PACKAGES
 

For Companies Operating in Targeted Industries

 
  Qualified Targeted Industry Tax Refund (QTI)
  Available for companies that create high wage jobs in targeted high value-added industries. This incentive 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 $3,000 per net new Florida full-time equivalent job created; $6,000 in an Enterprise Zone. 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. The local community where the company locates contributes 20 percent of the total tax refund. There is a cap of $5 million per single qualified applicant in all years, and no more than 25 percent of the total refund approved may be taken in any single fiscal year. New or expanding businesses in selected targeted industries or corporate headquarters are eligible.
Requires 20% match from local community (either County or City).
Administered by The State of Florida's Enterprise Florida.
 
  Qualified Defense and Space Contractor Tax Refund (QDSC)
  Florida is committed to preserving and growing its high technology employment base by giving 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 may receive tax refunds of $3,000 per net new full-time equivalent job created or retained; $6,000 in an Enterprise Zone. 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.
Administered by The State of Florida's Enterprise Florida.
 
  Capital Investment Tax Credit (CITC)
  Used to attract and grow capital-intensive industries. It is an annual credit, provided for up to twenty years, against the state's 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. The level of investment and the project's corporate income tax liability for the 20 years following commencement of operations determines the amount of the annual credit.
Administered by The State of Florida's Enterprise Florida.
 
  High Impact Performance Incentive Grant (HIPI)
  A negotiated grant used to attract and grow major high impact facilities. In order to participate in the program, the project must: 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 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.
Administered by The State of Florida's Enterprise Florida.
 
 

For Hiring and/or Training Employees

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  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.
Administered by The State of Florida's CareerSource Florida.
 
  Incumbent Worker Training Program (IWT)
  A program that provides training to currently employed workers to keep Florida's workforce competitive in a global economy and to retain existing businesses. The program is 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.
Administered by The State of Florida's CareerSource Florida.
 
  Employed Worker Training Program Funding Assistance Program (EWT)
  Businesses and organizations can benefit from this program, which helps employers fund training for existing employees to keep their firms and workers competitive.
Administered by CareerSource Flagler Volusia dba. The Center for Business Excellence.
 
  On-The-Job Training Funding Assistance Program (OJT)
  This program assists businesses and organizations in imparting skills and credentials to a new employee. Once the employee completes training per the terms of the Training Contract, the employer may be reimbursed 50 percent of the employee’s wages for the approved training period.
Administered by CareerSource Flagler Volusia dba. The Center for Business Excellence.
 

For Companies Locating in Specific Areas

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  Community Redevelopment Areas (CRA)
  There are several areas in Volusia targeted for economic revitalization by a Community Redevelopment Agency (CRA).  Each agency is a public entity created to implement the community redevelopment activities outlined under the Community Redevelopment Act which was enacted in 1969 (Chapter 163, Part III, Florida Statutes). The CRA is established by the local government and functions within that local government. 
Administered by the appropriate local government; for more information contact us to receive a personal visit to each of our unique communities.
 
  Brownfields / Economic Enhancement Districts
  Brownfields are real properties where expansion, reuse, or redevelopment may be complicated by real or perceived environmental conditions.  Brownfields do not necessarily have to be contaminated.  As interpreted from its definition, the object is to rejuvenate abandoned, vacant, or underused properties and utilize them to their greatest potential. It is an incentive-driven program with financial enticement for redevelopment and liability relief when cleaning up any discovered contamination. A Brownfields designation opens the door to federal, state, and local incentives that might not otherwise be available, including job creation bonuses.
Administered by the appropriate local government; for more information contact us to receive a personal visit to each of our unique communities.
 
  Enterprise Zones
  Areas targeted for economic revitalizing,  Enterprise Zones encourage economic growth and investment by offering tax advantages and incentives to businesses locating within the zone boundaries.
Administered by the appropriate local government; for more information contact us to receive a personal visit to each of our unique communities.
 
  Historically Underutilized Business Zones (HUBZones)
  Helps small businesses gain preferential access to federal procurement opportunities. These preferences go to small businesses that obtain HUBZone certification in part by employing staff who live in a HUBZone. The company must also maintain a "principal office" in one of these specially designated areas. Volusia County has 10 Census Tracts that are designated as HUBZones.  You can search by specific address here.
Administered by The U.S. Small Business Administration.
 

Infrastructure Improvements

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  Economic Development Transportation Fund
  Commonly referred to as the "Road Fund," 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.
Administered by The State of Florida's Enterprise Florida.
 

Tax Exemptions

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  Sales & Use Tax Exemptions
  The purchase of equipment and machinery used in the manufacturing process is exempt from the payment of Florida State sales tax. This applies to other supporting equipment as well, such as computers that are used 50% or more to control the production process.  The exemption is 100% of all sales tax for new industries, and the new equipment purchased by existing industries where the purchase increases production by 10% or more.  There is no exemption for sales tax paid for replacement equipment not increasing production by at least 10%.
 
  Inventories & Personal Property Tax Exemptions
  Inventories (raw material and finish product) are 100% exempt from taxation at both state and local levels.  Personal property used in business (office equipment, plant machinery, equipment, etc.) is taxed at the local level only.
 

 

Customized Package

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  Local Economic Incentives
  On a case-by-case basis, local jurisdictions are prepared to offer inducements to companies that will have an impact on the community. This may include items such as tax abatements, fee abatements, relocation costs and infrastructure enhancements.
Administered by the appropriate local government; for more information contact us to receive a personal visit to each of our unique communities.