Economic Development Job Creation Tax Refunds, Credits and Grants

Capital Investment Tax Credit

The Capital Investment Tax Credit is used to attract and grow capital-intensive industries in Florida. It is an annual credit, provided for up to twenty years, against the corporate income tax. The amount of the annual credit is based on the eligible capital costs associated with a qualifying project. 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.

To Qualify:

In order to participate in the program, a company must apply to Enterprise Florida, Inc. (EFI) and be certified by the Department of Economic Opportunity (DEO) prior to the commencement of operations. In order to qualify for consideration under the program, an applicant must:

• Create a minimum of 100 new jobs to Florida.
• Operate within one of the following industry sectors:
  • Clean Energy
  • Life Sciences
  • Financial Services
  • Corporate Headquarters
  • Information Technology
  • Advanced Manufacturing
  • Semiconductors
  • Transportation Equipment Manufacturing
• Make a cumulative capital investment of at least $25 million in connection with the project during the period from the beginning of construction to the commencement of operations.

High Impact Performance Incentive Grant

The High Impact Business Performance Incentive Grant(PDF, 396KB) is a negotiated incentive used to attract and grow major high impact facilities in Florida. Grants are provided to pre-approved applicants in certain high-impact sectors as designated by the Department of Economic Opportunity (DEO). Once recommended by Enterprise Florida, Inc. (EFI) and approved by DEO, 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.

To Qualify:

To participate in the program, a company must apply to Enterprise Florida prior to making a decision to locate or expand in Florida. In order to qualify for consideration under the program, an applicant must:

• Create 50 new-to-Florida jobs in a designated high impact sector in a 3-year period (25 for research and development).
• Make $50 million in capital investment in a three-year period ($25 million for research and development).
• Operate within designated high-impact portions of the following industry sectors:
  • Clean Energy
  • Life Sciences
  • Financial Services
  • Corporate Headquarters
  • Information Technology
  • Advanced Manufacturing
  • Semiconductors
  • Transportation Equipment Manufacturing