Incentives

Capital Investment Tax Credit (CITC)
This annual credit, provided for up to twenty years, is used against the corporate income tax. Eligible projects are those in designated high-impact portions of the following sectors: advanced manufacturing, clean energy, biomedical technology, financial services, information technology, silicon technology, transportation equipment manufacturing or a corporate headquarters facility. Projects must also create a minimum of 100 jobs and invest at least $25 million in eligible capital costs. Eligible capital costs include all expenses incurred in the acquisition, construction, installation and equipping of a project from the beginning of construction to the commencement of operations. 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. More Information

High Impact Performance Incentive (HIPI)
The HIPI is a negotiated grant used to attract and grow major high-impact facilities in Florida. Grants are provided to applicants pre-approved by FloridaCommerce. In order to participate in the program, the project must: operate within designated high-impact portions of the following sectors — Clean Energy, Life Sciences, Financial Services, Corporate Headquarters, Transportation Equipment Manufacturing, Information Technology, Advanced Manufacturing and Semiconductors; create at least 50 new full-time equivalent jobs (if a R&D facility, create at least 25 new full-time equivalent jobs) in Florida in a three-year period; and make a cumulative investment in the state of at least $50 million (if an R&D facility, make a cumulative investment of at least $25 million) in a three year period. Once approved by FloridaCommerce, the high-impact business is awarded 50 percent of the eligible grant upon commencement of operations and the balance of the awarded grant once full employment and capital investment goals are met. More Information

Single Sales Factor Apportionment
Single Sales Factor Apportionment of federal income may be available to companies that made qualified capital expenditures equal to or exceeding $250 million within a 2-year period. More Information

Research and Development Tax Credit
Florida provides a corporate income tax credit for eligible businesses for certain qualified research expenses. More Information

Florida’s Site Readiness and Rural Programs offers comprehensive assistance to ensure that potential development sites meet the needs of expanding businesses. It includes tools from several other economic development programs, such as Rural Infrastructure Fund (RIF) and the Florida Job Growth Grant Fund (FJGGF). More Information

• Job Growth Grant Fund
• Rural Infrastructure Fund (RIF)
• Rural Job Tax Credit
• Urban Job Tax Credit Program
• Brownfield Redevelopment Bonus Tax Refund
• Permit Streamlining Initiatives

Workforce is at the center of economic growth. Florida offers several workforce development initiatives including grants for educational programs enhancements, employee training, and job tax credits.

• Incumbent Worker Training
• Job Growth Grant Fund
• Veterans Florida
• Urban Job Tax Credit
• Rural Job Tax Credit

In addition to the listed programs, Florida offers a variety of economic development tools, from export assistance to small business support. Click here for a list of current economic development programs and tools.