Encouraging Growth

Site-Specific Advantages

?RURAL INCENTIVES

Rural Infrastructure Fund
Grants made to local governments on behalf of a business that may fund up to 30% of the costs for public infrastructure upgrades.

Rural Community Development Revolving Loans
A loan or loan guaranty available for a specific project that will lead to new jobs and increase the economic visibility and diversification of Florida’s rural counties.

Rural Job Tax Credit
An incentive for eligible businesses to locate in one of Florida’s rural counties. Provides $1,000 per qualified employee and can be taken against Florida corporate income tax or Florida sales and use tax.

» The following enhanced tax incentives are available to businesses located in Rural Enterprise Zones (REZs):

Jobs Tax Credit, Sales Tax
Credit against sales tax for 30% or 45% of wages paid to new employees who reside within a REZ. To be eligible, a business must create at least one new job. Cannot be used in conjunction with the corporate income tax credit.

Jobs Tax Credit, Corporate Income Tax
Credit against corporate income tax for 30% or 45% of wages paid to new employees who reside within a REZ. To be eligible, a business must create at least one new job. Cannot be used in conjunction with the sales tax credit.

Business Equipment Sales Tax Refund
For sales taxes paid on the purchase of certain business property used exclusively in a REZ for at least three years.

Building Materials Sales Tax Refund
Applies to sales taxes paid on the purchase of building materials used to rehabilitate real property located in a REZ.

Property Tax Credit, Corporate Income Tax
Credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property for new or expanded businesses in a REZ, up to $50,000 annually for up to five years.

Sales Tax Exemption for Electrical Energy
A 50% sales tax exemption available to qualified businesses located within a REZ on the purchase of electrical energy, if the municipality has reduced the municipal utility tax by at least 50%.

Community Contribution Tax Credit
50% credit on Florida corporate income tax, insurance premium tax or sales tax refund for donations made to local community development programs.

? URBAN INCENTIVES

Urban Job Tax Credit
Provides credits to eligible businesses that are located within the 13 urban areas designated by the Governor’s Office of Tourism, Trade and Economic Development (OTTED) and hire a specific number of employees. Ranges from $500 to $2,000 per qualified job and can be taken against either Florida corporate income tax or Florida sales and use tax.

» The following enhanced tax incentives are available to businesses located in urban Enterprise Zones (EZs):

Jobs Tax Credit, Sales Tax
Credit against sales tax for 20% or 30% of wages paid to new employees who reside within an EZ. To be eligible, a business must create at least one new job. Cannot be used in conjunction with the corporate income tax credit.

Jobs Tax Credit, Corporate Income Tax
Credit against corporate income tax for 20% or 30% of wages paid to new employees who reside within an EZ. To be eligible, a business must create at least one new job. Cannot be used in conjunction with the sales tax credit.

Business Equipment Sales Tax Refund
For sales taxes paid on the purchase of certain business property used exclusively in an EZ for at least three years.

Building Materials Sales Tax Refund
Applies to sales taxes paid on the purchase of building materials used to rehabilitate real property located in an EZ.

Property Tax Credit, Corporate Income Tax
Credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property for new or expanded businesses within the EZ, up to $50,000 annually for up to five years.

Sales Tax Exemption for Electrical Energy
A 50% sales tax exemption on the purchase of electrical energy for qualified businesses within an Enterprise Zone, if the municipality has reduced the municipal utility tax by at least 50%.

Community Contribution Tax Credit
50% credit on Florida corporate income tax, insurance premium tax or sales tax refund for donations made to local community development programs.

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