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Santa Rosa County Industry Incentives
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“TEAM Santa Rosa helped us acquire state grants, which have not only had a positive impact on our company, but on the local economy as well.”
-Michael Murdoch, AppRiver CEO
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TEAM Santa Rosa Economic Development Council offers numerous incentives to industries that relocate to Northwest Florida. Incentives range from tax exemptions and credits, to loan programs, to workforce training and assistance through development permitting. But, what really sets TEAM apart, in terms of incentives, is its pricing guidelines program for publicly owned industrial property. This innovative, unique, and attractive incentive offers new and expanding industry discounted land, based on what you bring to our community (i.e. employment capacity, wages, company’s performance, capital investment).
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Land Pricing Guidelines:Pricing Guidelines are in place to provide TEAM Santa Rosa EDC with a rational, non-arbitrary, non-discriminating basis for determining a cost per acre for industrial publicly owned property within Santa Rosa County. The point system represents the discount from the base price of publicly owned industrial property as it relates to the economic impact the proposed business will have on the area. – For more information click here |
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State of Florida Incentives
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Brownfield Redevelopment Bonus:
If an eligible project is located in a designated Brownfield area, it may qualify for a bonus of up to $2,500 per new job created. This program may be coupled with the QTI program. – For more information click here and here
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Capital Investment Tax Credit, (CITC):Annual credit against Florida corporate income taxes for certain approved industry sectors (Financial Services, Biomedical Technology, Silicon Technology, Transportation Equipment Manufacturing). – For more information click here
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Economic Development Transportation Fund (EDTF):
This program is funded by the state legislature as an inducement for the location, expansion, or retention of qualified business and industrial projects to Florida. Application is made by the city/county to the state of Florida to fund the cost (up to $2,000,000) of transportation projects (access roads, road widening, grade crossings, traffic signalization, etc.) necessary for the location, expansion, or retention of a qualified business or industry in Florida.
– For more information click here
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High Impact Performance Incentive Grant (HIPI):
The High Impact Performance Incentive is a negotiated grant used to attract and grow major high impact facilities in Florida. – For more information click here
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Incumbent Worker Training Grant (IWT):
The Incumbent Worker Training Program provides grant funding for customized training for existing for-profit businesses. – For more information click here
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Permit Streamlining Initiatives:
Companies with extensive permitting and regulatory needs can benefit from streamlining procedures. Streamlining is achieved through commitment among the state's regulatory agencies and local governments to provide quicker, less costly and more predictable permit approvals to significant economic development projects without reducing environmental standards.
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Qualified Target Industry (QTI):
The Qualified Target Industry Tax Refund incentive is available for companies that create high wage jobs in targeted high value-added industries. – For more information click here
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Qualified Defense Contractor Tax Refund (QDC):
The Florida Qualified Defense Contractor program is provided to encourage the location and expansion of defense industries in the state. – For more information click here
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Quick Response Training Grant (QRT):
An inducement program for job creation and retention. In addition to actual employee training, the grant may cover the cost of acquiring specialized equipment, retaining an instructor, and provision of a training facility (if required) necessary for the conduct of the training program. – For more information click here
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State of Florida Tax Advantages
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Sales and Use Tax Exemption on Electricity and 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 the sales tax. – For more information click here
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Sales and Use Tax Exemption on Machinery and Equipment:Tax exemption award made to businesses to aid new and expanding businesses that use machinery and equipment at a particular location to manufacture, process, compound, or produce tangible personal property for sale or for exclusive use in spaceport activities. – For more information click here and here
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Tax Advantages:
Florida ranks among the best states for business and entrepreneurs because of its pro-business tax policies and competitive cost of doing business. Your business dollars go further given the State’s limited corporate taxes and no personal income tax. – For more information click here
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