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April 25, 2015


Urban Advantages: Diamonds in the Rough

Florida offers plenty of incentives to help companies find the beauty that lies beneath.

Credits, Refunds, Incentives
More Reasons to Locate in Urban Florida

» Business Equipment Sales Tax Refund For sales taxes paid on the purchase of certain business property used exclusively in an Enterprise Zone 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 Enterprise Zone.

» 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.

» Sales Tax Exemption for Electrical Energy A 50% sales tax exemption 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 projects.

Gemstone-quality diamonds, in their raw state, typically aren’t much to look at. In fact, it takes more than a little imagination to see the beauty that is just waiting to burst forth with the right cut and polish.

Urban properties that are showing signs of abandonment, economic decline or contamination are a lot like diamonds in the rough. Since 1981, Florida’s Urban Advantages programs, along with local community support and federal initiatives, have helped thousands of companies discover the hidden sparkle of diamonds-in-the-rough properties and circumstances.

Urban Job Tax Credits: Eligible businesses locating within Urban Enterprise Zones and hiring a specific number of employees may be eligible for job tax credits.

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

» Job Tax Credit, Corporate Income Tax — Credit against corporate income tax for 20% or 30% of wages paid to new employees who reside within an Enterprise Zone. Cannot be used in conjunction with the sales tax credit.

For More Information

To learn more about Florida’s many incentive programs, visit

Tags: Environment, Business Florida

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