Enterprise Zone Incentives
The Florida Enterprise Zone Program offers various tax incentives to businesses located within the designated enterprise zones. In addition, local governments may also offer their own incentives.
Listed below are all of the Florida incentives for businesses located in an Enterprise Zone. Click on the name of the incentive for further details.
- Jobs Tax Credit (Sales Tax): Rural Enterprise Zones
Allows a business located within a Rural Enterprise Zone to take a sale and use tax credit for 30 or 45 percent of wages paid to new employees who live within a Rural County. To be eligible, a business must create at least one new job. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Jobs Credit.
- Jobs Tax Credit (Sales Tax): Urban Enterprise Zones
Allows a business located within an Urban Enterprise Zone to take a sale and use tax credit for 20 or 30 percent of wages paid to new employees who reside within an enterprise zone. To be eligible, a business must create at least one new job. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Jobs Credit).
- Jobs Tax Credit (Corporate Income Tax): Rural Enterprise Zones
Allows a business located within a Rural Enterprise Zone to take a corporate income tax credit for 30 or 45 percent of wages paid to new employees who reside within a Rural County. To be eligible, a business must create at least one new job. The Corporate Tax Credit cannot be used in conjunction with the Sales Tax Credit.
- Jobs Tax Credit (Corporate Income Tax): Urban Enterprise Zones
Allows a business located within an Urban Enterprise Zone to take a corporate income tax credit for 20 or 30 percent of wages paid to new employees who reside within an enterprise zone. The Corporate Tax Credit cannot be used in conjunction with the Sales Tax Credit.
- Business Equipment Sales Tax Refund: Rural and Urban Enterprise Zones
A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in an Enterprise Zone for at least 3 years.
- Building Materials Sales Tax Refund: Rural and Urban Enterprise Zones
A refund is available for 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): Rural and Urban Enterprise Zones
New or expanded businesses located within an enterprise zone are allowed a 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: Rural and Urban Enterprise Zones
A 50% sales tax exemption is available to qualified businesses located within an Enterprise Zone on the purchase of electrical energy, if the municipality has reduced the municipal utility tax by at least 50%.
- Community Contribution Tax Credit Program: Rural and Urban Enterprise Zones
Allows businesses a 50% credit on Florida corporate income tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in an enterprise zone to be eligible for this credit.
Workforce Training Incentives
Quick Response Training Program (QRT)
Quick Response Training (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 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.
Incumbent Worker Training Program (IWT)
Incumbent Worker Training (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 the Workforce Florida website.
Additional information
- Incumbent Worker Application
- Incumbent Worker Eligibility Requirements
On-the-Job (OJT) Training for New Employees
On-the-Job Training is designed to provide occupational training in your work environment and to your specifications. Through this service, companies can be reimbursed up to 50 % of the wages paid to a training participant. For more information, call 954-677-JOBS (5627).
Employed Worker Training for Existing Employees
The goal of this locally funded program is to upgrade the skills of your existing employees for the purpose of advancing their wages and positions, and to assist employees in retaining jobs that provide self-sufficient employment.
Job Creation Incentives
Qualified Target Industry Tax Refund (QTI)
The Qualified Target Industry Tax Refund incentive is 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 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. 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.
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.
Road Infrastructure Fund and Capital Investment Incentives
Economic Development Transportation Fund
The Economic Development Transportation Fund, 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.
Capital Investment Tax Credit (CITC)
The Capital Investment Tax Credit is used to attract and grow capital-intensive industries in Florida. It is an annual credit, provided for up to twenty years, against the 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 Florida corporate income tax liability for the 20 years following commencement of operations determines the amount of the annual credit.
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. Grants are provided to pre-approved applicants in certain high-impact sectors designated by the Governor's Office of Tourism, Trade and Economic Development (OTTED). In order to participate in the program, the project must: operate within designated high-impact portions of the following sectors-- clean energy, biomedical technology, financial services, silicon technology, and transportation equipment manufacturing or be a corporate headquarters facility supporting international, national or regional operations; create at least 100 new full-time equivalent jobs (if a R&D facility, create at least 75 new full-time equivalent jobs) in Florida in a three-year period; and make a cumulative investment in the state of at least $100 million (if a R&D facility, make a cumulative investment of at least $75 million) in a three-year period. Once recommended by Enterprise Florida, Inc. (EFI) and approved by OTTED, the high impact business is awarded 50 percent of the eligible grant upon commencement of operations and the balance of the awarded grant once full employment and capital investment goals are met.
Broward County Economic Incentive Programs
Broward County participates in economic incentive programs whereby businesses considering relocation to or expansion within the County may receive financial benefits directly related to job creation and positive economic impact on the community. To support the pro-business climate, Broward County offers the following economic incentive programs:
- Broward County Direct Cash/ Job Creation Incentive Program
- Economic Impact Incentive Program
- State and Federal Local Match Program
- Employment Diversity Training Grant Program
- Public Facilities Improvements Program
In determining whether to provide economic development incentives, an analysis shall be made as to whether the tax revenue generated to Broward County Government from the new or expanded business will cover the amount of any actual incentive award granted to an applicant within a period not to exceed six (6) years from the date of such award, and that the County will receive a net positive return on its investment at least 50%. Any tax revenue/incentive payment analysis conducted by the County shall consider sales, personal property, and ad valorem taxes generated by the applicant. |
