Economic Incentive Programs

State Enterprise Zone (EZ)

Companies located in an EZ and employing EZ residents may be eligible for the following tax refunds or credits:

• Building materials sales tax refund of up to $10,000
• Business equipment sales tax refund of up to $10,000
• Jobs (income or sales) tax credit of 20 to 30 percent of wages paid for new jobs created in EZ
• Corporate income tax credits for building and property improvements

Incumbent Worker Training Grant (IWT)

IWT provides grant funding open to all Florida businesses that have been in operation for a minimum of one year prior to the application date and require training for existing employees. Training costs eligible for reimbursement include tuition, instructor's wages, course development, text books/manuals, and materials/supplies.

Quick Response Training Incentive (QRT)

QRT provides grant funding for customized training for new or expanding targeted high-wage businesses (paying 115 percent of local area wages). A local community college or training provider helps develop or deliver a customized program and provides assistance in the application process. For businesses that already have training programs in place, the local training provider will supervise and manage the training programs and serve as the fiscal agent for the grant funds. Reimbursable training expenses include instructors'/trainers' salaries, curriculum development, textbooks/manuals, and materials/supplies. Grants often range in value from $500 and $2,000 per employee.

Manufacturing Sales & Use Tax

Industrial machinery and equipment is exempt from tax when purchased by an expanding business to increase productive output by at least 10%.

Sales Tax Exemption on Electricity & Steam

Charges for electricity used directly and exclusively at a fixed location to operate machinery and equipment that is used to manufacture, process, compound, or produce items of tangible personal property for sale, or to operate pollution control equipment, recycling equipment, maintenance equipment, or monitoring or control equipment used in such operations, may be exempt from sales tax.

Wired Grant

Through the WIRED Initiative, the U.S. Department of Labor via the Employment and Training Administration will invest $195 million in thirteen regional economies, including Northwest Florida. The WIRED Initiative is empowering regions to implement ground-breaking strategies that will result in their workforce investment system becoming a key component of the area's economic development strategy. The 100% match built into the WIRED Northwest Florida program turns a $15 million grant into a $30 million initiative.

• The Wired Job Training Grant is applicable to newly created positions that pay at least 125% of the average MSA wage or $39,470 are eligible to receive grant funding. Qualified projects may receive $500 to $5,000 per qualifying position up to the maximum grant of $500,000.