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Incentives
Financial Incentive | Sales Tax Exemption |
Florida Tax Advantages | Other Incentives
Thinking of expanding or relocating your production business or corporation? Then look no further than Florida, the new state of business!
The Walt Disney Company, Universal Studios, the Cisneros Group, PaxNet, MTV Latin America and other major motion picture and television corporations have made Florida their official home base of operations. Why? Because Florida is more than just a great place to visit, it's a great place to do business!
Florida is not only committed to improving education, infrastructure and technology to support entertainment industry growth, but is also committed to providing incentives that make Florida an attractive destination for business relocation and expansion.
Check out these resources to find out more about other Florida business incentives:
Small business and start-up:
For information on how to start a small business in Florida,
visit the Florida Small Business web site at www.floridasmallbusiness.com.
Florida Venture Capital Directory:
This resource is a directory for entrepreneurs, which lists sources of equity capital and moderate to high-risk debt for growth-oriented companies. It also provides information on intermediaries with access to capital. For more information call 407-316-4646.
For more information, please visit this site.
Qualified Target Industry Refund Program (QTI):
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.
For more information about this program, please contact:
Enterprise Florida
800 N. Magnolia Avenue, Suite 1100
Orlando, Florida 32803
T 407-956-5600
F 407-956-5599
www.eflorida.com
Incumbent Worker Program:
The Incumbent Worker Training Program provides grant funding for customized training for existing businesses. Visit Workforce Florida, Inc. for more information.
Urban Job Tax Credit Program:
An urban job tax credit is an incentive for eligible business located within one of the 15 designated urban areas to create new jobs. The credit ranges from $500 to $2000 per qualified job and can be taken against either the Florida Corporate Income Tax or the Florida Sales & Use Tax. These tax credits are provided to encourage meaningful employment opportunities that will improve the quality of life of those employed and encourage economic expansion of new and existing businesses in urban areas of Florida.
For more information on how your business can apply contact:
Executive Office of the Governor
Office of Tourism Trade and Economic Development
The Capitol, Suite 2001
Tallahassee, FL 32399-0001
850-487-2568
burt.vonhoff@myflorida.com
Rural Job Tax Credit Program:
Rural Job Tax Credit is an incentive for eligible businesses located within one of 15 designated rural counties to create new jobs. The tax credit ranges from $500 to $2,000 per qualified employee and can be taken against either the Florida Corporate Income Tax or the Florida Sales and Use Tax. These tax credits are provided to encourage meaningful employment opportunities that will improve the quality of life of those employed and to encourage economic expansion of new and existing businesses in rural areas of Florida.
For more information on how your business can apply contact:
Executive Office of the Governor
Office of Tourism. Trade and Economic Development
The Capitol, Suite 2001
Tallahassee, FL 32399-0001
850-487-2568
burt.vonhoff@myflorida.com
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