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.
 Qualified Targeted Industry Tax Refund (QTI)
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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.
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Qualified Defense and Space Contractor Tax Refund (QDSC)
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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.
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Capital Investment Tax Credit (CITC)
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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.
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High Impact Performance Incentive Grant (HIPI)
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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.
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Quick Response Training Program (QRT)
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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 Workforce Florida.
Administered by The State of Florida's Workforce
Florida.
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Incumbent Worker Training Program (IWT)
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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 Workforce Florida.
Administered by The State of Florida's Workforce
Florida.
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Employed Worker Training Program Funding Assistance Program (EWT)
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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 The Volusia/Flagler Workforce Board dba. The Center for Business
Excellence.
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On-The-Job Training Funding Assistance Program (OJT)
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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 The Volusia/Flagler Workforce Board dba. The Center for Business
Excellence.
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Community Redevelopment Areas (CRA)
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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.
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Brownfields / Economic Enhancement Districts
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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.
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Enterprise Zones
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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.
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Historically Underutilized Business Zones (HUBZones)
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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.
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Economic Development Transportation Fund
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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.
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Sales & Use Tax Exemptions
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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%.
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Inventories & Personal Property Tax Exemptions
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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.
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Local Economic Incentives
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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.
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