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Incentives

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.

  • Locating in Specific Areas 

  • Hiring and / or Training Employees

  • Infrastructure Improvements

  • Tax Exemptions

  • Customized Packages

 

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.

Administered by Enterprise Florida.


For Hiring and / or Training Employees

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 the tax 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 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 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.


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.


For Companies Locating in Specific Areas

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 use 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.

 

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 US Small Business Administration .

 

Infrastructure Improvements

Customized on a case-by-case basis and location-specific. Please contact us for more information

 

Sales & Use Tax  Exemptions

Manufacturing Sales Tax Exemption 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.

 

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

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.