Business Resources

State & Local Business Incentives

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COUNTY INCENTIVES

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Jobs Growth Incentive Program

The Economic Development Department of Seminole County initiated a Jobs Growth Incentive Fund in 1995 for companies creating new jobs. Seminole County will consider awarding funds for expenses such as impact and permit fees, relocation costs, equipment purchases, land acquisition, building construction, loan interest pay-down, lease-hold improvements or any other legitimate business expense as determined by the Board of County Commissioners. Special consideration will be given to projects seeking to locate in targeted redevelopment areas. Preference will be given to projects that will be constructing new buildings. This program is available to new, relocating, and expanding companies in Seminole County. New start-up companies must create a minimum of 3 new jobs that will earn 80% of the county’s average annual wage. Expanding companies must increase their employee base by a minimum of 10% and the jobs created must earn at least 80% of the county’s average annual wage. Companies relocating within Seminole County will need to create a minimum of 25 new jobs and must earn at least 115% of the county’s average annual wage. The county’s average annual wage is currently $40,015.

Please see the additional information for the Jobs Growth Incentive Program.

Redevelopment and Construction Grant 

Redevelopment and Construction Grant Application The Redevelopment and Construction Grant encourages redevelopment of existing buildings and new construction in the US 17-92 CRA Area. The program provides funding for up to 20 percent of the total project cost, per building, to cover redevelopment and construction projects. Funding is available on a first-come, first-served basis. All funding is limited to Catalyst Projects as defined within the application under Eligibility Requirements.

Redevelopment and Construction Grant Application

CRA Grant Comparison Table

CRA Grant Process

Catalyst Project Definition

CITY INCENTIVES

Fiserv

Altamonte Springs

The city offers development incentives that reduce building and impact fees for qualified new construction projects within the Central Business District. To qualify, commercial and office projects must be at least 100,000 square feet. Mixed-use projects must be at least 150,000 square feet.

Casselberry

Casselberry Jobs Growth Incentive Program: Eligible firms may receive front-loaded cash incentive up to $2,000.00 per new qualifying job.

Ad-Valorem Tax Abatement:  Beginning April 2013, City may grant ad-valorem tax abatement for up to 10 years for new or expanding qualifying targeted industries.

Casselberry Community Redevelopment Area (CRA):  Redevelopment district focusing on the 17-92 corridor.  Tax Increment Funding (TIF) available for qualifying projects.

Site Location Assistance:  City staff will facilitate identification of available sites and facilities for industry expansion or relocations.

Expedited Review and Permitting:  City staff engages in expedited review and permitting.

Incentive Partnering:  The City of Casselberry has worked in partnership with Seminole County to provide incentives for significant projects on a case-by-case basis.

Oviedo

Oviedo Jobs Growth Incentive Program: Front-loaded cash incentive for new or expanding targeted industries.  Up to $2,000.00 per new qualifying job.

Impact Fee Assistance: Impact fee payment assistance up to $2,000 per new qualifying job for new or expanding targeted industries.

Incubator Graduate Rental Subsidy and BTR Grant:  City pays for Oviedo Business Tax Receipt (Occupational license) and up to $12,000.00 for one year rental subsidy for small business incubator program graduates.

Ad-Valorem Tax Abatement:  City may grant ad-valorem tax abatement for up to 10 years for new or expanding qualifying targeted industries.

Oviedo Seminole Economic Enhancement District (Oviedo-SEED):  Economic Brownfield area.  Enables access to state and federal environmental assessment programs, remediation  and loan programs.  Also enables additional state QTI incentive bonus. (MAP Attached)

Oviedo Community Redevelopment Area (CRA):  Targeted redevelopment area joining historic downtown Oviedo and new Oviedo on the Park development.  Tax Increment Funding (TIF) available for qualifying projects. (MAPs Attached)

Site Location Assistance:  City staff will facilitate identification of available sites and facilities for target industry expansion or relocations.

Expedited Review and Permitting:  City staff will facilitate expedited review and permitting of targeted industry development. 

Incentive Partnering:  The City of Oviedo also partners with Seminole County on incentive projects for new and expanding targeted industries.

Lake Mary

The city has worked in partnership with Seminole County to provide incentives for projects on a case-by-case basis.

Longwood

The city has worked in partnership with Seminole County to provide incentives for significant projects on a case-by-case basis. The city offers a Residential Energy Efficiency Program (REEP) that allows for energy efficiency rebates. The city has designated and approved the Longwood Economic Enhancement Program (LEEP) that takes advantage of State brownfield rebates and incentives.

Sanford

The city has worked in partnership with Seminole County to provide incentives for projects on a case-by-case basis.

Winter Springs

The city will create a customized incentive package for qualifying businesses.  The City's package may include one or more of the following:  property tax exemption, impact fee credit, performance-based cash grant, local share of the State of Florida incentives in partnership with Seminole County.

STATE INCENTIVES

Florida's Key Incentives (PDF) [27KB]

Incentives Average Wage Requirements(PDF) [251KB]

EFI Incentive Matrix (PDF) [34KB]

Capital Investment Tax Credit (PDF) [103KB]

The Capital Investment Tax Credit is an annual credit against the project's Florida corporate income tax for up to 20 years. Eligible projects are those in designated, high-impact sectors (currently silicon technology, biotechnology, biocertain transportation equipment manufacturing or certain information technology facilities) that create at least 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. Florida’s Corporate Income Tax Rate is 5.5% of apportioned taxable income.

Economic Development Transportation Fund (PDF) [40KB]

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 elimination of the problem must serve as an inducement for a specific company's location, retention, or expansion project in Florida and create or retain job opportunities for Floridians.

Eligible projects include those that facilitate economic development by eradicating location-specific transportation problems (e.g., access roads, signalization, road widening, etc.) on behalf of a specific eligible company (e.g., a manufacturing, corporate/regional headquarters, or recycling facility). Up to $2,000,000 may be provided to a local government to implement the improvements. The actual amount funded is based on specific job creation and/or retention criteria.

High Impact Performance Grant (PDF) [35KB]

The High Impact Business Performance Incentive Grant is a negotiated incentive used to attract and grow major high impact facilities in Florida. Grants are provided to pre-approved applicants in certain high-impact sectors as designated by the Governor's Office of Tourism, Trade and Economic Development (OTTED).

Permitting Streamlining (PDF) [46KB]

Florida has developed permit-streamlining procedures to assist existing, expanding or new-to-Florida businesses. This is achieved through a commitment among the state's regulatory agencies and local governments to provide quicker, less costly and more predictable permitting processes for significant economic development projects without reducing environmental standards.

Qualified Defense Contractor Tax Refund (PDF) [129KB]

The Qualified Defense Contractor Tax Refund is a tool to preserve and grow Florida's high technology employment base---giving Florida a competitive edge as defense contractors consolidate defense contracts, acquire new contracts, or convert to commercial production. Pre-approved projects receive tax refunds of up to $5000 per job created or saved in Florida. Conversion of defense jobs to civilian production, the acquisition of a new defense contract, or the consolidation of a defense contract are eligible projects.

Qualified Target Industry Tax Refund (PDF) [144KB]

The Qualified Target Industry (QTI) Tax Refund incentive is available for companies that create high wage, value added jobs in targeted high value-added industries such as (but not limited to): communications, corporate headquarters, research & development, manufacturing, and electronic equipment. 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. New or expanding businesses in selected targeted industries or corporate headquarters are eligible.

Sales Tax Exemption - Electricity (PDF) [42KB]

Exemptions from sales tax on electricity and boiler fuels used during the manufacturing process.

Aviation Industry Tax Exemptions (PDF) [39KB]

Space Industry Tax Exemptions (PDF) [126KB]

  • No state personal income tax
  • No state-level ad valorem tax
  • No inventory tax
  • Exemptions from sales tax on manufacturing machinery and equipment used in production
  • Sales and use tax exemptions for research and development costs
  • Sales tax exemptions for the motion picture, television and recording industries