The city of St. Petersburg's Planning and Economic Development Department has unveiled a new online Incentive Lookup Wizard. It is designed to inform businesses exactly which incentive programs they may be eligible for, by simply answering a few questions.
The following information is based on locating a business in the City of St. Petersburg. The quick reference incentives matrix PDFs below includes a summary of the program information.
| Incentives for Small Business |
| Incentives for Business |
| (both include program descriptions and boundary maps) |
For complete program guidelines and application forms, please click on the links below or contact us or the agency noted.
Incentives
- Enterprise Zone
- Urban Job Credit
- HUBZone
- Qualified Target Industry
- Brownfield Redevelopment Bonus
- Economic Development Transportation Road Fund Grant
- Ad Valorem Tax Exemption for Historic Preservation
- Federal Historic Rehabilitation Tax Credit
- Federal Non-Historic Rehabilitation Tax Credit
- Capital Investment Tax Credit
- High Impact Performance Incentive Grant
- Qualified Defense Contractor Tax Refund
- Sales Tax Exemptions
- Special Considerations for Urban Areas
- State of Florida Programs
- Enterprise Zone Brochure
- View an Enterprise Zone map (PDF)
- Enterprise Zone Wizard to determine property designation
- Contact the Enterprise Zone Coordinator for assistance
There are six different credits available under this program:
Jobs Tax Credit (State Sales & Use Tax)
- Checklist to determine eligibility
- (View Forms) (PDF)
Allows businesses, who collect and pay Florida sales and use tax, a monthly credit against their tax due on wages paid to new, full-time employees who have been employed by the business for at least 3 months and are residents of an Enterprise Zone or are Welfare Transition Program participants. A new job must be created before the business earns a tax credit.
If less than 20% of permanent, full-time employees are residents of an Enterprise Zone, this incentive provides a credit of 20% of the monthly wages paid to new eligible employees who are residents of an Enterprise Zone. If 20% or more of permanent, full-time employees are residents of an Enterprise Zone, this incentive provides a credit of 30% of the monthly wages paid to new eligible employees who are residents of an Enterprise Zone. This credit is limited to 24 months if the employee remains employed for 24 months and is not available if the Jobs Tax Credit (State Corporate Income Tax) is taken. All required forms must be filed with the Department of Revenue within six months of hire date. This tax credit program will expire on December 31, 2015. (s. 220.181, F.S.)
Jobs Tax Credit (State Corporate Income Tax)
- Checklist to determine eligibility
- (View Forms) (PDF)
Allows businesses, who collect and pay Florida Corporate Income tax, a credit against their tax due on wages paid to new, full-time employees who have been employed by the business for at least 3 months and are residents of an Enterprise Zone or are Welfare Transition Program participants.
If less than 20% of the permanent, full-time employees of the business are residents of an EZ, this incentive provides a credit of 20% of the monthly wages paid to new eligible employees who are residents of an EZ. If 20% or more of the permanent, full-time employees are residents of an EZ, this incentive provides a credit of 30% of the monthly wages paid to new eligible employees who are residents of an EZ. This credit is limited to 24 months if the employee remains employed for 24 months and is not available if the Jobs Tax Credit (Sales & Use Tax) is taken. This tax credit program will expire on December 31, 2015. (s. 220.181, F.S.)
Business Equipment Refund (State Sales & Use Tax)
- Checklist to determine eligibility
- (View Forms) (PDF)
A refund is available for state sales taxes paid on the purchase of qualified business equipment which is used exclusively in an Enterprise Zone (EZ) for at least 3 years. Business equipment must have a sales price of at least $5,000 per unit. The refund is 97% of the state sales tax (6%) paid on business equipment. If less than 20% of permanent, full-time employees are residents of an Enterprise Zone, the maximum refund per application will be no more than $5,000. If 20% or more of permanent, full-time employees are residents of an Enterprise Zone, the maximum refund per allocation will be no more than $10,000. There is no limit on the number of applications that can be filed. All required forms must be filed with the Department of Revenue within six months after the equipment is purchased or the tax is due. This tax refund program will expire on December 31, 2015. (s. 212.08 (5)(h), F.S.)
Building Materials Refund (State Sales & Use Tax)
- Checklist to determine eligibility
- (View Forms) (PDF)
A refund is available for state sales taxes paid on the purchase of building materials used to construct real property located in a Florida Enterprise Zone (EZ). This refund is only available one time per parcel of real estate. As of July 1, 2010, condominiums are no longer eligible for this program. The total amount of the state sales tax refund must be at least $500. If less than 20% of the business' permanent, full-time employees are residents of the Enterprise Zone, the maximum refund per application will be no more than $5,000 or 97% of the state sales tax paid. If 20% or more of the business' permanent, full-time employees are residents of the Enterprise Zone the refund will be no more than the lesser of $10,000 or 97% of the state sales tax paid. This tax refund program will expire on December 31, 2015. (s. 212.08(5)(g), F.S)
Property Tax Credit (State Corporate Income Tax)
- (View Forms) (PDF)
New or expanding businesses are allowed a credit on Florida Corporate Income tax paid. This credit is calculated based on the amount of ad valorem taxes paid. The business must earn more than $5,000 and establish 5 or more new full-time jobs to take advantage of this credit. If less than 20% of the business' permanent, full-time employees are residents of the Enterprise Zone, the maximum refund of $25,000 annual credit can be claimed for 5 years. If 20% or more of the business' permanent, full-time employees are residents of the Enterprise Zone the maximum refund of $50,000 annual credit can be claimed for 5 years. Any unused portion of the credit may be carried forward for 5 years, however, unless the Enterprise Zone Program is extended, the credit will become void on December 31, 2015. (s. 220.182, F.S.)
Community Contribution Tax Credit (State Corporate Income Tax, Insurance Premium Tax, or Sales Tax Refund)
- (View Forms) (PDF)
Community Contribution Tax Credit 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. (S. 220.183, F.S.)
- (View Forms) (PDF)
- (View Map) (PDF)
A new or expanding company that creates new full-time jobs in specified industries including manufacturing (SIC 20-SIC 39) can receive a $500 credit per job. A new company must create at least 30 new jobs and an existing business must have at least 15 more qualified employees than it had one year prior to its date of application The incentive is a state corporate income tax credit or state sales/use tax credit of $500 per job. Credit is one time only for each new hire. (s. 212.097, F.S.)
HUBZone Empowerment Contracting Program:
- To view the City's HUBZone Map, Click here. (PDF)
This program seeks to encourage economic development in historically underutilized business zones - HUBZones - through the establishment of preferences for award of Federal contracts to small businesses located in these areas. The programs falls under the auspices of the U.S. Small Business Administration. As of October 1, 2000, all Federal departments and agencies involved with procurement must factor into their contracting plans annual goals that have been established for the HUBZone Empowerment Contracting Program (FY2002 - 2.5% of total Federal prime contract awards, FY 2003 and each fiscal year thereafter - 3%)
For a business to qualify as a HUBZone small business the following criteria must be met:
- Small business by SBA standards
- Located in a HUBZone - SBA online mapping service
- Owned and controlled by one or more U.S. citizens, a Community Development Corporation, or Indian Tribe
- At least 35% of its employees reside in a HUBZone
Another benefit that HUBZone businesses are eligible for is higher SBA-guaranteed surety bonds on construction and service contract bids.
The district office that works with the City of St. Petersburg's HUBZone is the South Florida DO. Contacts at the office are Jack Geis (305-536-5841) or Gilbert Colon (305-536-5527).
Additional information can be obtained at www.sba.gov/hubzone the HUBZone web page.
Qualified Target Industry Tax Refund Program (QTI):
- (View official narrative and list of industries) (PDF)
- (View QTI Attachment to the General Project Overview form) (PDF)
- (View General Project Overview Form) (PDF)
This program provides an inducement for target industry to locate new facilities in Florida or to expand existing facilities in Florida. The program provides tax refunds (Corporate, Insurance premium, Sales/Use, Intangible personal property, Emergency excise, Excise taxes on documents, Ad valorem) of $6,000 per job if the company locates in the Enterprise Zone. Greater awards are available to companies paying very high wages.
To qualify for the QTI program, a company must create at least 10 new jobs (or a 10% increase for expanding Florida companies), pay an average of at least 115% of area wages, have a significant positive impact on the community and have local support. The City may request waiver of average wages requirement, if a project is located in a brownfield area and Enterprise zone, but only if the merits of the project in relation to the community warrant such action.
Funds may not be expended in connection with the relocation of a business from one community to another community in Florida unless Florida's Office of Tourism, Trade and Economic Development determines that without such relocation the business will move outside Florida or determines that the business has a compelling economic rationale for the relocation and that the relocation will create additional jobs. The business must file an application before the business has made the decision to locate a new business in this state or before the business had made the decision to expand an existing business in this state. (s.288.106, F.S.)
Pinellas County Job Creation Incentive
With the assistance of the City of St. Petersburg, businesses must apply to Pinellas County Economic Development and be approved prior to making a decision to locate or expand. Businesses must meet QTI program criteria, provide a new capital investment of at least $50M, and create at least 200 new new high wage jobs.. Maximum term of the grant is 15 years.
City of St. Petersburg Job Creation Incentive Program
Businesses must meet QTI program criteria, and must retain and/or create 1,500 existing jobs with retention businesses needing to create an additional 500 new jobs paying at least 115% of average county wage. Maximum term of program is 15 years.
Brownfield Redevelopment Bonus:
- (View Project Narrative) (PDF)
- (View Brownfield Incentive Application) (PDF)
- (View General Project Overview Form) (PDF)
- (View Map of Brownfield area) (PDF)
A State Tax Refund of 20% of average annual wage of new jobs creates up to $2,500 per new job. The business must be eligible for QTI or make a $2 million capital investment and create 10 new Florida full-time jobs with benefits, and provide City/County resolution providing 20% of tax refund. (s. 288.107, F.S.) To learn more, please visit the city's Brownfields site page.
Economic Development Transportation Road Fund:
- (View Forms) (PDF)
This is a state grant to the City of St. Petersburg on behalf of the business. The grant used to alleviate a transportation problem that adversely impacts the company's location or expansion decision. The business must file an application before the business has made the decision to locate a new business in this state or before the business had made the decision to expand an existing business in this state. (s. 288.063, F.S.)
Ad Valorem Tax Exemption for Historic Preservation:
This is city and county program that exempts eligible property owners from an increase in city or county taxes resulting from an approved renovation for ten years. Available to individually listed historic properties or those contributing to a historic district, many of which are located in Downtown St. Petersburg. Projects must expend in construction costs a sum at least 10% of the assessed taxable value of the property. Project must be reviewed and approved by the City of St. Petersburg prior to construction. City Council approves tax exemption after work is completed. The maximum incentive for a single family home is $100,000 and $1,000,000 for all others. Contact the city of St. Petersburg Urban Design and Historic Preservation at 893-7153 for more information.
Federal Historic Rehabilitation Tax Credit:
This federal program, administered by the Florida Division of Historic Resources, is open to taxpayers substantially renovating a historic building and provides a tax credit on federal income tax of 20% of the eligible renovation costs. The property must be a certified historic structure, used for income-producing purposes, and the rehabilitation must be certified as consistent with the historic character of the property. "Substantial" means rehabilitation expenses must exceed the adjusted basis of the building and its structural components. A "certified historic structure" is one listed on the National Register of Historic Places or contributing to a National Register historic district. Contact the city of St. Petersburg Urban Design and Historic Preservation at 893-7153 for more information.
Federal Non-Historic Rehabilitation Tax Credit:
The program, administered by the IRS, is federal income tax credit of 10% of the eligible renovation costs and is available to owners of commercial, nonresidential properties not listed on the National Register and constructed prior to 1936. These buildings must be certified as non-historic by the National Park Service and meet the following conditions after renovation: 1) 50% or more of the existing external walls are retained in place as external walls; 2) 75% or more of the existing external walls are retained in place as internal or external walls; and 3) 75% or more of the existing internal structural framework is retained in place. Contact the city of St. Petersburg Urban Design and Historic Preservation at 893-7153 for more information.
Capital Investment Tax Credit :
- (View Capital Investment Tax Credit Attachment to the General Project Overview Form) (PDF)
- (View General Project Overview Form) (PDF)
The program offers an annual credit against the corporate income tax for up to 20 years in an amount equal to 5% of the eligible capital costs generated by a qualifying project. The business must apply and be certified by the state of Florida prior to the commencement of operations. The business must be in a designated high impact sector, create at least 100 new jobs in Florida and make a cumulative capital investment of at least $25 million. (s. 220.191, F.S.)
High Impact Performance Incentive Grant:
- (View Official Narrative) (PDF)
- (View General Project Overview Form) (PDF)
The High Impact Performance Incentive Grant (HIPI) 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 (which has recently been expanded to include financial services) designated by the Governor's Office of Tourism, Trade and Economic Development. In order to participate in the program, a company must be in a designated high impact sector; create at least 100 new full-time equivalent jobs (if a research and development facility, create at least 75 new full-time equivalent jobs) in Florida in a three year period; and make a cumulative investment in the state of at least $100 million (if a research and development facility, make a cumulative investment of at least $75 million) in a 3-year period. They also must apply to Enterprise Florida prior to making a decision to locate or expand in Florida. View the Florida Statute, s. 288.108, (F.S.)
Qualified Defense Contractor Tax Refund:
- (View Forms) (PDF)
- (View Official Narrative) (PDF)
The Qualified Defense Contractor Tax Refund is a pre-approved tax refund program that provides up to $5,000 per job created or saved in Florida that is defense related. Conversion of defense jobs to civilian production, the acquisition of a new defense contract, or the consolidation of a defense contract are eligible projects. If approved, an applicant may receive refunds on taxes it pays related to the project. There is a cap of $7.5 million per single qualified applicant in all years and no more thank $2.5 million in tax refunds may be received in any fiscal year. In order to participate, a company must apply to Enterprise Florida prior to making a decision to locate or expand in Florida.
In order to participate a company must derive at least 70% of its Florida gross receipts from Department of Defense contracts in the last year and not less than 80% over the preceding five years, demonstrate that the jobs created or retained make a significant economic contribution to the area economy, demonstrate that the tax refund is necessary to allow the business to complete for the new contract or make a consolidation, and provide a resolution from the county commission indicating the 20% required for local financial support will be available each year as refunds are due. View the Florida Statute, s. 288.1045, (F.S.)
The State of Florida has numerous sales tax exemptions. For more information contact your tax professional, contact the Florida Department of Revenue at (850) 488-6387 or go to the Florida Department of Revenue's web site http://sun6.dms.state.fl.us/dor/tips/2004.html.
Special Considerations for Urban Areas:
There are special considerations for several of the state incentive programs listed for projects locating in urban areas that are experiencing conditions that affect the economic viability of the community and hamper the self-sufficiency of the residents. These considerations provide additional incentive money, waivers and lower wage qualification thresholds for businesses locating in these urban areas.
Incumbent Worker Training Grant
Provides grant funding to employers to assist with expenses associated with customized skills upgrade training for existing employees. Eligible businesses must have been in operation for at least 1 year, have at least 1 full time employee, and be current on all state taxes.
Sales Tax Exemption on Electricity and Steam
Business in eligible industries are eligible for an exemption of sales tax they pay on their electricity and steam. At least 50% of the electricity and steam used at the business' fixed location must be used to operate qualifying machinery or equipment. This program is administered by the Florida Department of Revenue.
Economic Development Transportation Fund
The City must make a competitive application to the State of Florida on behalf of the business and be approved prior to the business making a decision to relocate or expand. The grant is used to alleviate a location specific transportation problem that adversely impacts a company's location or expansion decision.