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Other State Incentive Programs

Florida First Business Bond Pool
Reserves 20% of Florida’s total annual private activity bond allocation for large industrial projects making significant contributions to Florida’s economy. Florida also reserves a portion of the total allocation to assist small manufacturers to obtain very cost-effective financing for expansion or relocation projects, if allocation is not available from the Manufacturing Facilities Bond Pool.

Semiconductor, Space and Defense Sales and Use Tax Exemption – Used to attract and grow businesses in these sectors by providing an exemption for all sales and use taxes on investments in machinery and equipment used in manufacturing and research.

The Community Contribution Tax Credit Program – The Department of Economic Opportunity oversees the Community Contribution Tax Credit Program which encourages private sector donations to community redevelopment projects in enterprise zones and to low-income housing projects. A tax credit of 50% of the donation is allowed.

Manufacturing and Spaceport Investment Incentive Program (MSII) – encourages capital investment and job creation in manufacturing and spaceport activities in Florida. Applications are accepted by eligible businesses from July 1, 2010 to June 30, 2012. A tax refund up to $50,000 will be given on the State Sales and Use Tax paid for eligible equipment purchases. Purchase cost must exceed a business’ total expenditures on eligible equipment purchased and placed into service in this state during the 2008 tax year.