Florida Incentives

 

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Florida offers bottom-line business incentives and advantages for long-term profitability for all types of businesses, from corporate headquarters to manufacturing plants to service firms. Some of the most commonly accessed incentives are:

 

Qualified Target Industry Tax Refund 

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.

 

Qualified Defense and Space Contractor Tax Refund 

Offers 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. Companies receive tax refunds for job creation.

 

Capital Investment Tax Credit

An annual credit, provided for up to 20 years, against 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 a corporate headquarters facility.

 

High Impact Performance Incentive

A negotiated grant used to attract and grow major high impact facilities in Florida. 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 it must 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.

 

Florida Power & Light - Economic Development Rate 

Discounted elecric service for new or expanding businesses that add a minimum level of new electric load and new jobs, with a higher incentive for businesses that locate in commercial or industrial space that has been vacant for more than six months.
 

Industry Specific Incentives and Sales Tax Exemptions

Machinery & Equipment Sales Tax Exemptions
Research & Development Sales Tax Exemptions
Agricultural Sales Tax Exemptions
Clean Energy Incentives
Electricity & Steam Sales Tax Exemptions