Incentives

Holmes County is developing a 260 acre Eco-Industrial Park emphasizing sustainability and green manufacturing. Our area also has an abundance of reasonably priced open green space sites on continuous 400-4,000 acres throughout the county. Presidential designation of Census Truck "Opportunity Zone" enabling utilization of special capital investment incentives are also available.

 

Rural Area of Opportunity

 

Holmes County is a Rural Area of Opportunity (RAO) designated by the Florida Legislature. Florida encourages growth throughout the state by encouraging incentive awards and lower wage qualifications thresholds in its rural counties. The Holmes County Development Commission takes advantages of special RAO incentives when promoting new and expanding business opportunities.

 

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Florida Sales & Use Tax Exemptions

  • Machinery and equipment used by a new or expanding Florida business to manufacture, produce or process tangible personal property for sale.

  • Agricultural parts and labor

  • Parts, materials and labor used in repair of and incorporated into machinery and equipment

  • Electricity used in the manufacturing process

  • Certain boiler fuels (including natural gas) used in the manufacturing process

  • Semiconductor, defense and space technology-based industry transactions involving manufacturing equipment

  • Machinery and equipment used predominantly in research and development

  • Labor component of research and development expenditures

  • Commercial space activity — launch vehicles, payloads and fuel, machinery and equipment for production of items used exclusively at Spaceport Florida

  • Aircraft parts, modification, maintenance and repair, sale or lease of qualified aircraft

  • Production companies engaged in Florida in the production of motion pictures, made for television motion pictures, television series, commercial music videos or sound recordings.

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Local Incentives

 

*Expedited Permitting, Assistance with Site Work, Workforce Training, Some Build to Suit*

 

Ad-Valorem Tax Exemption

  • Available to qualified new, expanding and existing businesses

  • The length of time that the exemption will be in effect will be based on the number of permanent full time jobs created by the project. Jobs must be created and employees hired within the first year the exemption is in effect.

  • Application must be approved by the Holmes Co. Board of County Commissioners

 

Rural Community Tax Credit

  • Up to $4,000 for a Rural Community (county)

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State Incentives

 

Qualified Target Industry Tax Refund (QTI)

  • Available for companies that create high wage jobs in targeted high value-added industries.

  • Includes refunds on corporate income, sales, ad valorem, intangible personal property, insurance premium, and certain other taxes.

  • Pre-approved applicants who create jobs in Florida receive tax refunds of:

  • Available for companies that create high wage jobs in targeted high value-added industries.

  • $3,000 per net new job; up to $4,000 in a Rural Community (county).

  • For businesses paying 150 percent of the average annual wage, add $1,000 per job.

  • For businesses paying 200 percent of the average annual salary, add $2,000 per job.

  • Businesses falling within a designated high impact sector or increasing exports of its goods through a seaport or airport in the state by at least 10 percent in value or tonnage in each year of receiving a QTI refund, add $2,000 per job.

  • Projects locating in a designated Brownfield area (Brownfield Bonus) can add $2,500 per job.

 

Qualified Defense and Space Contractor Tax Refund (QDSC)

  • Gives Florida 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 creating or retaining jobs in Florida may receive tax refunds of $3,000 per net new Florida full-time equivalent job created or retained.

  • Up to $4,000 in a Rural Community (county)

  • For businesses paying 150 percent of the average annual wage, add $1,000 per job.

  • For businesses paying 200 percent of the average annual salary, add $2,000 per job.

High Impact Performance Incentive Grant (HIPI)

  • A negotiated grant used to attract and grow major high-impact facilities in Florida.

  • Grants are provided to pre-approved applicants in certain high-impact sectors designated by the State of Florida.

 

Grant requirements:

  • Operate within designated high-impact portions of the following sectors-- clean energy, corporate headquarters, financial services, life sciences, semiconductors, and transportation equipment manufacturing.

  • 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 a R&D facility, make a cumulative investment of at least $25 million) in a three-year period.

  • Once approved, 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.

 

 

Source: http://www.floridasgreatnorthwest.com/business-information/financing---incentives.aspx

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