Incentives & Financing
The State of Florida offers excellent incentives, tax advantages and several financing options for financing for new, relocating and existing businesses.
Incentives
Florida offers a variety of incentives for all types of businesses, including targeted industries, workforce training, infrastructure and special opportunity incentives.
Targeted Industry Incentives:
- Qualified Target Industry Tax Refund (QTI)
- Qualified Defense and Space Contractor Tax Refund (QDSC)
- Capital Investment Tax Credit (CITC)
- High Impact Performance Incentive Grant (HIPI)
Workforce Training Incentives:
- Quick Response Training Program (QRT)
- Incumbent Worker Training Program (IWT)
Infrastructure Incentive
- Economic Development Transportation Fund
Special Opportunity Incentives
- Rural Incentives
- Urban Incentives
- Enterprise Zone Incentives
- Brownfield Incentives
- Local Government Distressed Area Matching Grant Program (LDMG)
Tax Advantages and Exemptions
Florida enjoys a favorable tax climate and offers Sales and Use Tax Exemptions on a large number of goods, equipment and activities.
According to the Enterprise Florida website, the State of Florida has…
- NO corporate income tax on limited partnerships
- NO corporate income tax on subchapter S-corporations
- NO state personal income tax guaranteed by constitutional provision
- NO corporate franchise tax on capital stock
- NO state-level property tax assessed
- NO property tax on business inventories
- NO property tax on goods-in-transit for up to 180 days
- NO sales and use tax on goods manufactured or produced in Florida for export outside the state
- NO sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging
- NO sales/use tax on co-generation of electricity
- And a Manufacturing Tax Exemption
Financing Options
The State of Florida offers a variety of options for companies seeking access to capital. Florida is home to commercial banks as well as angel investors and venture capitalists. There are also federal and state programs that can aid you financially, including:
- Enterprise Bond Program
- Tax-exempt, low interest bond financing to qualifying manufacturing and non-profit organizations
- SBA Loan Program
- The SBA offers several loan programs for small businesses. For North Central Florida businesses, contact the Jacksonville SBA office.
- Federal Grants
- The federal government offers grants for research and development efforts. Visit these websites for more information:
