Federal, State and County Programs

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Federal, State and County Programs

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 727-893-7153 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 727-893-7153 for more information.

State of Florida Programs

FloridaFlex

Provides grant funding to relocating or expanding businesses for expenses related to training new or existing employees after jobs have been created or retained, and training has occurred. Eligible businesses will be in a qualified target industry, have an exportable good or service, and have wages 115% above average state or local wage. More information.

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. More information.

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.