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Business Incentives

Sales and Use Tax Exemption for
Purchases of Industrial Machinery and Equipment

Effective April 30, 2014, an exemption from temporary sales and use tax is available for purchases of certain industrial machinery and equipment from April 30, 2014 to April 30, 2017. Industrial machinery and equipment purchased by an eligible manufacturing business that is used at a fixed location in Florida for the manufacture, process, compound, or produce for sale items of tangible personal property. The exemption also includes parts and accessories for the industrial machinery and equipment if they are purchased before the date the machinery and equipment are placed in service.

For More Information

For forms and other information, visit website at www.myflorida.com/dor or call Taxpayer Services at 800-352-3671, Monday through Friday (excluding holidays).
For a detailed written response to your questions, write the Florida Department of Revenue, Taxpayer Services, MS 3-2000, 5050 West Tennessee Street, Tallahassee, FL 32399-0112.

Targeted Industry Incentives

Qualified Target Industry Tax Refund (QTI): 

The Qualified Target Industry Tax Refund incentive is available for companies that create high wage jobs in targeted high value-added industries. This incentive includes refunds on corporate income, sales, ad valorem, intangible personal property, insurance premium, and certain other taxes. Pre-approved applicants can be eligible to receive tax refunds from $3,000 to $5,000 per new full-time equivalent job created.

Qualified Defense and Space Contractor Tax Refund (QDSC):

Gives defense, homeland security, and space business contractors a competitive edge in consolidating contracts or subcontracts, acquiring new contracts, or converting contracts to commercial production. Pre-approved applicants can be eligible to receive tax refunds from $3,000 to $6,000 per net new full-time equivalent job created or retained.

Capital Investment Tax Credit (CITC):

Eligible projects are those in designated high-impact portions of the following sectors: clean energy, biomedical technology, financial services, information technology, silicon technology, transportation equipment manufacturing, or be a corporate headquarters facility. Projects must also create a minimum of 100 jobs and invest at least $25 million in eligible capital costs. 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.

High Impact Performance Incentive Grant (HIPI):

The project must operate within designated high-impact portions of the following sectors– clean energy, corporate headquarters, financial services, life sciences, semiconductors, and transportation equipment manufacturing. Also, the project must create at least 50 new full-time equivalent jobs (25 if a R&D facility) and make a cumulative investment of at least $50 million ($25 million if a R&D facility) in a three-year period. Once approved the business is awarded 50% of the eligible grant upon commencement of operations and the balance once the employment and investment goals are met. 
 

Workforce Training Incentives

Quick Response Training Program (QRT):

An employer-driven training program designed to assist new value-added businesses and provide existing businesses the necessary training for expansion. The company may use in-house training, outside vendor training programs or the local educational entity to provide training. Reimbursable training expenses include: instructors’/trainers’ wages, curriculum development, and textbooks/manuals.

Incumbent Worker Training Program (IWT):

Provides training to currently employed workers to keep workforce competitive in a global economy and to retain existing businesses. The program is available to businesses that have been in operation for at least one year prior to application and require skills upgrade training for existing employees.

Infrastructure Incentives

Economic Development Transportation Fund:

An incentive tool designed to alleviate transportation problems that adversely impact a specific company’s location or expansion decision. The award amount is based on the number of new and retained jobs and the eligible transportation project costs, up to $3 million. The award is made to the local government on behalf of a specific business for public transportation improvements.

Special Opportunity Incentives

Urban Incentives

Increased incentive awards and lower wage qualification thresholds for businesses location in many urban core/inner city areas that are experiencing conditions affecting the economic viability of the community and hampering the self-sufficiency of the residents.

Brownfield Incentives

The Brownfield Redevelopment Bonus Refund is available to encourage Brownfield redevelopment and job creation. Approved applicants receive tax refunds of up to $2,500 for each job created.