2016-046 - Laserfiche WebLink

Home Browse Search

Comprehensive Plan Economic Develonment Element • Qualified Target Industry Tax Refund Program The Qualified Target Industry Tax Refund Program, administered through Enterprise Florida, provides a tax refund of up to $8,000 per newjeb if the bi a55 i5 located in the County's Enterp�:�o Zoneorup to $5,000 per new job if the business is l,.eated within the Ceunty, but eutside th Enterprise Zene, a bonus of $2,000 per job if the business falls within a designated high impact sector; $2,500 per job if the project is located in a designated Brownfield area. To be eligible, the business must create at least ten new jobs in any of the state's target industries and Pav an average annual wale of at least 115 percent of the countv's average annual wale. For a manufacturing oroiect paving at least 100 percent of the prevailing averaize wale: the wale requirement may be waived in special circumstances. Locally, the county provides a 20% match of the total taxes refunded. This program is designed to create high value-added jobs and encourage the growth of corporate headquarters and other targeted high value industries. • Local Jobs Grant Program This program can apply to a company that creates at least five jobs in the county's target industries. The amount of the grant is based on the number of jobs created and the average salary of those jobs. Each grant application is reviewed by the Board of County Commissioners. The County provides $3,000 for each new position created that pays from 75% to 99.99% of the County's average annual wage; $5,000 for each new position created that pays from 100% to 149.99% of the County's average annual wage; and $7,000 for each new position created that pays 150% or more of the County's average annual wage. In addition, a 10% bonus is provided to businesses that locate within the City of Vero Beach/Indian River County Enterprise ZaneArea. • Impact Fee Financing Program An impact fee financing program is another incentive offered by Indian River County to encourage development. This program allows financing of impact fees for businesses listed on the county's target industries list. • Waiving County Utility Deposits Another incentive offered by Indian River County relates to county utility deposits. With this incentive, the county will guarantee county utility (county water and/or sewer) deposits of up to $10,000 for businesses meeting certain requirements. Instead of the business paying the deposit amounts up front, the county will pledge funds that can be drawn upon if necessary. 0 Special Incentives Granted by the Board Of County Commissioners Community Development Department Indian River County 27