COUNTY INCENTIVES

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 to 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 $37,614.

For additional information regarding the Jobs Growth Incentive Program please contact us.

CITY INCENTIVES

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

Lake Mary – The city has worked in partnership with Seminole County to provide incentives for significant 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.

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 is willing to partner with Seminole County to create an incentive package for projects on a case-by-case basis for companies located in targeted areas.

STATE INCENTIVES

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

Incentives Average Wage Requirements (PDF) [25KB]

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 Transporation 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

- International transactions exempted from documentary stamp tax and international
  banking transactions from intangible tax.