Focus Area: Entrepreneurship & Innovation

State Incentives

Program	Benefits	Qualifications
High Impact Performance Incentive	Cash Grant	50 new FT jobs, $50 million capital investment in 3 years
Capital Investment Tax Credit (CITC)	Annual credit against state corporate income tax for 20 years equal of 5% of eligible capital costs	$25 million minimum capital investment
Research and Development Tax Credit	10% of excess qualified research expenses over company’s base	Qualified expenses allowable under U.S. Code Title 26 §41. Base amount equal to qualified expenses for 4 prior taxable years
Manufacturing Machinery and Equipment Sales Tax Exemption	Up to 100% on Sales and Use Taxes	Purchase of manufacturing equipment
Electricity Sales Tax Exemption	50-100% Sales and use tax exemption on electricity	Amount of exemption dependent on consumption
Boiler Fuels Sales Tax Exemption	Sales tax exemption on combustible fuel in the manufacturing process	Fuel source is a clean natural resource
Repair and Labor Charges Tax Exemption	Sales tax exemption	Qualified expenses are on repair and labor charges and parts and materials for repairs to industrial machinery

Flexible Workforce Training Grants

Program	Benefits
Quick Response Training (QRT)	Assistance developing a training program that is customized, flexible, and responsive to individual company needs
Incumbent Worker Training (IWT)	Established companies in Florida can receive assistance for skills upgrade training for existing employees.
Veterans Florida Workforce Training Grant	Grant funding for customized, skills-based curriculum development and training for the military veteran population

Special Financial Toolkit – Space Florida

Companies with aviation, aerospace or space applications may be eligible to pursue tools as part of Space Florida’s unique financial structure.

Program	Benefits
Conduit Financing	A way to get quick funding to pay for property or infrastructure that is repaid as a long-term loan or lease. This allows a company to access cash quickly and defer payment while using existing capital more strategically.
Synthetic Lease	An operating lease structured in such a way that it’s not recorded as an asset or liability on a balance sheet. Instead, it’s an expense. The biggest benefit to a synthetic lease is it enables businesses to defer large expenditures or spread them out over multiple years.
Real Estate	The ability to secure property and rights to infrastructure from federal, state and local governments for commercial use on behalf of the business. Space Florida can conduct business-to-business deals for property on commercial terms, freeing businesses from the usual insurance, safety and labor constraints associated with the use of government facilities, in addition to offsetting real and personal property taxes.

Rural Incentives

Special incentives are provided to companies that locate/expand in a Rural Area of Opportunity (RAO).

Program	Benefits
Rural Jobs Tax Credit	A tax credit of $1,000 for every new job, good for a two-year period, plus a 5-year carry-forward period. Applies to the Florida Corporate Income Tax or Sales and Use Tax owed by the company to the State.
Rural Infrastructure Fund	Facilitates the planning, preparing, and financing of traditional economic development or nature-based tourism infrastructure projects that encourage job creation and capital investment in rural communities.

Local Incentives

Local cities and counties can provide additional incentives to help offset business costs to ensure your company is successful in their community. A few examples of what communities can offer include: