The VentureCrossings Development Team can assist your company with both State of Florida and local incentive application processes. A brief summary of each appears below, but feel free to contact us for further details.
State of Florida Incentives
Target Industries
New or expanding businesses within the Transportation Equipment Manufacturing sector, which include Aircraft Manufacturing; Aerospace Manufacturing; and Aircraft Maintenance, Repair and Overhaul industries, are eligible to be considered for incentives that help with relocation and expansion.
High Wage Jobs
Companies createing Florida jobs paying at least 115% of Bay County’s average annual wage are eligible to be considered for incentives.
High Impact Business Performance Incentive Grant (HIPI)
A negotiated incentive used to attract and grow major high-impact facilities in Florida, HIPI grants are provided in certain designated portions of Florida’s target sectors to companies who can create new jobs and make a significant investment in the area’s economy.
Capital Investment Tax Credit (CITC)
Used to attract and grow capital-intensive industries in Florida, CITC is an annual credit, provided for up to 20 years, against the corporate income tax.
Qualified Defense and Space Contractor Tax Refund (QDSC)
A tool to preserve and grow Florida’s high technology employment base, QDSC was created to give Florida a competitive edge as a base for defense, homeland security or space business contractors.
Qualified Target Industry Tax Refund (QTI)
A tool available to Florida communities, QTI encourages quality job growth in the state’s targeted high value-added businesses.
Economic Development Transportation Fund (“Road Fund”)
The Road Fund is an incentive program designed to alleviate transportation problems that adversely impact a specific company’s location or expansion decision.
Quick Response Training (QRT)
QRT is a customer-driven program designed to provide new and expanding Florida businesses the customized training necessary for relocation and expansion. A flexible reimbursement program, it is structured to respond quickly to meet a business’s training objectives.
Bay County Incentives
Economic Development Ad Valorem Property Tax Exemption
The Bay County Board of County Commissioners may provide an abatement of the local property tax on improvements to real and personal property at the business location for a period up to 10 years.
Streamlined Permitting
The Bay County Board of Commissioners offers streamlined permitting to expanding or relocating businesses that create more than 10 new jobs within the first 12 months after facility construction is complete.
Workforce Center Services
A one-stop shop for Bay County employers’ human resources needs, the Workforce Center offers free comprehensive services that assist companies in their recruitment efforts and in the management of their workforces.
Custom Packages
The County works in partnership with local and state agencies to customize incentive packages for companies whose location to or expansion in Bay County has a significant economic impact. Such packages may include a combination of State of Florida incentives, local incentives, cash contributions, financing assistance and workforce development programs.
