Business Resources and Incentives

Brownfield Redevelopment Bonus
When an eligible project is located in a designated Brownfield area, it may qualify for a bonus of up to $2,500 per new job created. This program may be coupled with other programs.

Capital Investment Tax Credit (CITC)
Annual credit against Florida corporate income taxes for certain approved industry sectors (Financial Services, Biomedical Technology, Silicon Technology, Transportation Equipment Manufacturing).

Economic Development Transportation Fund (EDTF)
This program is funded by the state legislature as an inducement for the location, expansion or retention of qualified business and industrial projects to Florida. Application is made by the city/county to the state of Florida to fund the cost (up to $2,000,000) of transportation projects (access roads, road widening, grade crossings, traffic signalization, etc.) necessary for the location, expansion, or retention of a qualified business or industry.

High Impact Performance Incentive Grant (HIPI)
The High Impact Performance Incentive is a negotiated grant used to attract and grow major high impact facilities in Florida.

Incumbent Worker Training Grant (IWT)
The Incumbent Worker Training Program provides grant funding for customized training for existing for-profit businesses.

Qualified Target Industry (QTI)
QTI Tax Refund incentive is available for companies that create high wage jobs in targeted high value-added industries, and 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 or Rural Community (county). 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. New or expanding businesses in selected targeted industries or corporate headquarters are eligible.

Qualified Defense Contractor Tax Refund (QDC)
The Florida Qualified Defense Contractor program is provided to encourage the location and expansion of defense industries in the state.

Quick Response Training Grant (QRT)
QRT is an inducement program for job creation and retention. In addition to actual employee training, the grant may cover the cost of acquiring specialized equipment, retaining an instructor, and provision of a training facility (if required) necessary for the conduct of the training program.

Pro-Business Tax Structure
Business dollars go a lot farther here given Florida's limited corporate taxes and no personal income tax. Thanks to a history of responsible spending decisions and high financial reserves, Florida has earned a AAA bond rating – the highest available – while enjoying this low-tax climate. Businesses thrive in this low-tax environment and employees enjoy the benefit of no personal income tax.

Smart Laws
Tort reform has been a priority for Florida’s business-friendly leaders. Some of their most recent successes include the elimination of joint and several liability, rate reductions for workers compensation insurance and class-action suit reform.

Expedited Permitting
Florida understands that businesses need certainty, predictability and efficiency in government regulations. The state's regulatory agencies and local governments provide quicker, less costly and more predictable permitting processes for significant economic development projects without reducing environmental standards.

Available Resources
For entrepreneurs and growing businesses, Florida offers access to capital from private, federal and other sources and has implemented other initiatives, such as the Florida Opportunity Fund, to stimulate capital formation in the state.

Financial Assistance from U.S. Small Business Administration
All businesses require money to get off the ground and to continue to grow. SBA's resources help you research loan programs, explore options around export financing. Learn more about Small Business Investment Companies (SBICs), and determine if surety bonds are ideal for your situation.

Qualified Defense and Space Contractor Tax Refund (QDSC)
Florida is committed to preserving and growing its high technology employment base by giving Florida 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 in Florida may receive tax refunds of $3,000 per net new Florida full-time equivalent job created or retained; $6,000 in an Enterprise Zone or rural county. 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.

Rural Incentives
Florida encourages growth throughout the state by offering increased incentive awards and lower wage qualification thresholds in its rural counties. Additionally, a Rural Community Development Revolving Loan Fund and Rural Infrastructure Fund exist to meet the special needs that businesses encounter in rural counties.

Enterprise Zone Incentives
Florida offers an assortment of tax incentives to businesses that choose to create employment within an enterprise zone which is a specific geographic area targeted for economic revitalization. These include a sales and use tax credit, tax refund for business machinery and equipment used in an enterprise zone, sales tax refund for building materials used in an Enterprise Zone, and a sales tax exemption for electrical energy used in an enterprise zone.

Jobs for the Unemployed Tax Credit Program (JUTC)
JUTC provides incentives to businesses throughout Florida to hire qualified employees who were previously unemployed. The program is available to all businesses that are identified as a "target industry." The business may receive a tax credit of $1,000 for every employee hired as of July 1, 2010. The business may claim only new hires that were previously unemployed for a minimum of 30 days, and that remain employed after a 12-month period at an average of 36 hours per week. This program will run until June 30, 2012 with a limit of $10 million available for tax credits.
Fact Sheet PDF format   Application PDF format   ApplicationMS Word format

Florida First Business Bond Pool
Reserves 20% of Florida’s total annual private activity bond allocation for large industrial projects making significant contributions to Florida’s economy. Florida also reserves a portion of the total allocation to assist small manufacturers to obtain cost-effective financing for expansion or relocation projects, if allocation is not available from the Manufacturing Facilities Bond Pool.

Semiconductor, Space and Defense Sales and Use Tax Exemption
Used to attract and grow businesses in these sectors by providing an exemption for all sales and use taxes on investments in machinery and equipment used in manufacturing and research.

Local Government Distressed Area Matching Grant Program (LDMG)
Stimulates investment in Florida’s economy by assisting Local Governments in attracting and retaining targeted businesses. Applications are accepted from local governments/municipalities that plan on offering qualified business assistance (not derived from State or Federal funds) to a specific business in the area. These targeted businesses are required to create at least 15 full-time jobs and the project must either be new to Florida; expanding operations in Florida; or leaving Florida unless it receives local and state government assistance. The amount awarded by the State of Florida will equal $50,000 or 50% of the local government’s qualified business assistance amount (not derived from State or Federal funds), whichever is less, and be provided following the commitment and payment of that assistance.
Fact Sheet – PDF format   Application – PDF format   Application – MS Word format
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Manufacturing and Spaceport Investment Incentive Program (MSII)
Encourages capital investment and job creation in manufacturing and spaceport activities in Florida. Applications are accepted by eligible businesses from July 1, 2010 to June 30, 2012. A tax refund up to $50,000 will be given on the State Sales and Use Tax paid for eligible equipment purchases. Purchase cost must exceed a business’ total expenditures on eligible equipment purchased and placed into service in this state during the 2008 tax year.
Fact Sheet – PDF format   Application Phase I – PDF format   Application Phase I – MS Word format   Application Phase IIPDF Format   Application Phase IIMS Word format
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ADDITIONAL INFORMATION AND INCENTIVES

Economic Development Ad Valorem Tax Abatement (EDATE)

OrdinanceApplication - Less than 150 employeesApplication - More than 150 employeesEnterprise ZoneApplication

Historical Preservation

Find out if your property qualifies (list of historic properties)

Local Economic Development Incentives
Please make initial application for local incentives through the Pensacola Bay Area Chamber of Commerce. Phone: (850) 438-4081.

Oil Spill Recovery Incentives

  • Available in Escambia County.
  • Provides preferences and waivers for certain incentive threshold requirements for 2012-2014.
  • Appropriates $10 million/year for 3 years (2012-2014) to assist/support economic activities (approximately 80-85% is earmarked for economic development/job creation projects).


Florida State Contact:

Enterprise Florida, Inc.
800 North Magnolia Ave., Suite 1100
Orlando, FL 32803
(407) 956-5600
Fax: (407) 956-5599