Florida on Business Facilities Online

FLORIDA Fast Facts

• Population (2008): 18,328,340
• Largest Cities (2008): Jacksonville, 807,815; Miami, 413,201; Tampa, 340,882; St. Petersburg, 245,314;
   Orlando, 230,519
• Targeted Industries:Clean Energy, Life Sciences, IT, Aviation & Aerospace, Homeland Security
• Key Incentives: Qualified Target Industry Tax Refund, High-Impact Performance Incentive Grants, Capital
   Investment Tax Credit
• GDP (All Industry 2008): $744 billion*

*Bureau of Economic Analysis, U.S. Department of Commerce

Florida State Incentives

incentive is increased to $6,000 per job if the company locates in a rural county or an Enterprise Zone. Higher awards are available to companies paying high wages. To qualify for the QTI program, a company must create at least 10 new jobs (or a 10% increase for expanding Florida companies), pay an average of at least 115% of area wages, have a significant positive impact on the community, and have local support.

The High-Impact Performance Incentive is a negotiated grant used to attract and grow major high-impact facilities in Florida. Grants are provided to applicants pre-approved 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-biomedical technology, financial services, silicon technology, and transportation equipment manufacturing; create at least 100 new full-time equivalent jobs (if an 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 an R&D facility, make a cumulative investment of at least $75 million) in a three-year period. Once recommended and approved, the high-impact business is awarded 50% of the eligible grant upon commencement of operations, and the balance is awarded once full employment and capital investment goals are met.

The Capital Investment Tax Credit is an annual credit, provided for up to 20 years, against the corporate income tax. Eligible projects are those in designated high-impact portions of the following sectors: biomedical technology, financial services, information technology, silicon technology, and transportation equipment manufacturing. Projects must also create a minimum of 100 jobs and invest at least $25 million in eligible capital costs, which includes 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.

Explore detailed community demographic information at ZoomProspector.com

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