Local Incentives for Florida Business Owners
Although starting a new business requires large amounts of capital that is often acquired through investors, bank loans, and other entrepreneurial lenders, it is possible for Florida business owners to obtain grants and financial incentives through a myriad of programs targeted to their specific business sector. Listed below are several local incentives and grants for Florida business owners.
Qualified Target Industry Tax Refund Program (QTI)
The QTI is a grant designed specifically to aid business in the creation of high-skill jobs in growing corporations in targeted industries. For every new job created in Florida, whether for a new business or in the growth of an existing one, the QTI will grant a $3,000 tax refund. For businesses in an Enterprise Zone or in a Rural County, the tax refund amount increases to $6,000 per new job created. If a business also pays a wage that is 150% over the minimum wage of the region, it will be eligible for an additional $1,000 per job bonus, and a $2,000 per job bonus is available for businesses paying 200% over the minimum wage.