Business Incentives

Aviation Tax Exemptions

The State of Florida offers certain tax exemptions within specific sections of the aviation industry. These exemptions are covered in greater detail in the document below.

Electricity Sales Tax Exemption for Manufacturing

Charges for electricity used directly and exclusively at a fixed location to operate machinery and equipment that is used to manufacture, process, compound, or produce items of tangible personal property for sale, or to operate pollution control equipment, recycling equipment, maintenance equipment, or monitoring or control equipment used in such operations, may be exempt from the sales tax.

Expedited Permitting Assistance

High Impact Performance Incentive Grant

Incumbent Worker Training Program

The Incumbent Worker Training Program is funded by the Federal Workforce Investment Act (WIA) and administered by Workforce Florida, Inc. The purpose of the program is to provide grants to employers to assist with certain expenses associated with skills upgrade training for full-time employees of the company. The total amount of funding available for all training projects in 2007/2008 is $2 million. Training projects funded may begin on the approval date and may have 12 months from the approval date to complete training.

Industrial Revenue Bonds

Guidelines

Introduction

This document has been prepared to assist members of the Osceola County Industrial Development Authority the “Authority” in considering and acting upon applications for the issuance of the Authority’s industrial development revenue bonds and to assist applicants in preparing and submitting applications for the issuance of the Authority’s industrial development revenue bonds.

Machine and Equipment Sales Tax Exemption

Machinery and Equipment purchased by new and expanding businesses that use such equipment at a fixed location to manufacture, process, compound, or produce tangible personal property for sale, or for exclusive use in spaceport activities, is tax exempt. (Section 212.08(5)(b), Florida Statutes)

Qualified Target Industry Tax Refund Program

This program provides an inducement for target industry to locate new facilities in Osceola County or to expand existing facilities in Osceola County. The program provides tax refunds of $3,000 per new job created at 15% higher than the county's average wage. Higher awards of $4,000 or $5,000 per new job are available to companies paying wages 50% and 100% higher than the average wage respectively. To qualify for the "QTI" program, a company must create at least 10 new jobs (or a 10% increase for expanding Osceola County companies). A General Project Overview (GPO) must accompany this application.

Quick Response Training Program

The Quick Response Training Program provides grant funding for customized training to new or expanding businesses. The program is flexible and structured to respond quickly to meet business training objectives. Reimbursable training expenses include: instructors'/ trainers' salaries, curriculum development, textbooks/manuals, and materials/supplies.

Transportation Fund

The Economic Development Transportation Fund, commonly referred to as the “Road Fund,” is an incentive tool designed to alleviate transportation problems that adversely impact a specific company’s location or expansion decision. The elimination of the problem must serve as an inducement for a specific company’s location, retention, or expansion project in Florida and create or retain job opportunities for Floridians.

Transportation Impact Fee Mitigation Program

Targeted industries creating more than 10 jobs or expanding their Osceola County employment by 10% percent and paying the new positions an average of at least 115% of the Osceola County average wage or targeted industries creating more than 10 jobs or expanding their Osceola County employment by 10% percent and making a $10 million or more capital investment can qualify for up to 50% mitigation of their transportation impact fees based on their capital investment. The targeted company receiving the incentive must own the newly constructed or expanded building.