STATE & LOCAL INCENTIVE PROGRAMS As Miami-Dade County’s official economic development partnership, The Beacon Council is responsible for facilitating the application process for financial incentives companies may qualify for. By assisting with the application for incentives, which is a free and confidential service, The Beacon Council has helped to secure millions of dollars for hundreds of companies over the years. The incentive programs include:
Qualified Target Industry (QTI) Tax Refund (STATE)
This incentive is available for companies that create high wage jobs in targeted high value-added industries and may provide the company with a tax refund of up to $3,000 per new job created. This program is funded by the State of Florida (80%) and Miami-Dade County (20%). The QTI program requires the creation of at least 10 new full-time jobs at salary levels equal to or exceeding 115% of the State annual average wage, or $45,834.
For businesses paying 150% of the State average annual wage, add $1,000 per job; for 200% of the State average annual wage, add $2,000 per job. For companies that locate or expand within any of Miami-Dade County’s Enterprise Zones, this incentive is increased up to $6,000 per new job created, and the minimum salary requirement may be waived.
Miami-Dade County Targeted Jobs Incentive Fund (TJIF) (COUNTY)The TJIF is an inducement program available only to companies from outside the County (with the exception of Palm Beach, Broward, and Monroe Counties) wishing to relocate here, and to Miami-Dade companies which undertake a business expansion and that create jobs as a result of the local expansion. Nevertheless, a Palm Beach, Broward or Monroe County-located Company that is planning to relocate outside South Florida is eligible for this program. The Company must provide verifiable documentation supporting its consideration of other locales. Any business decisions, such as announcements, leasing of space or hiring of employees, made prior to the final TJIF approval, will likely be grounds for disapproval unless waived by the Miami-Dade County Manager after a showing of good cause. Projects that do not require inducement will not be approved.
To qualify for consideration under the program, an applicant must:
Be one of the targeted industries as per the State of Florida QTI Program (see QTI incentive information sheet for Industry List).
In addition, Miami-Dade One Community One Goal (OCOG) target industries are also eligible, as are regional offices.
Create at least 10 net new full-time equivalent Miami-Dade jobs;
The capital investment by the company must exceed $3 million in taxable property value.
The company may receive an incentive spread out over a period of up to 6 years (or longer as may be determined by the County). The actual amount of the award/benefit will be determined by an Economic Impact Analysis and approval by the Miami-Dade Board of County Commissioners;
The base amount of the incentive is calculated using the amount of capital investment in real property (new buildings or improvements of buildings used by the company) and the capital investment in tangible personal property (furniture and equipment used by the company).
Additional bonus incentive amounts can be awarded when the company capital investment and activities include the following:
Being a Green Certified business by Miami-Dade County (this is a self-evaluation process of the business’ green activities, such as recycling in the office and using energy-efficient products);
Being located in a Designated Priority Area, such as targeted urban areas, Brownfield areas and enterprise zones);
Being located in is Green Certified building (minimum LEED Silver level);
Being classified as having is principal business in the manufacturing, installation, and repair of Solar Thermal and Photovoltaic Energy production or other clean projects.
Quick Response Training (QRT) Program (STATE)
This State of Florida incentive may be available to a company for the training needs of any new employees hired in Miami-Dade County. This is a customer-driven training program designed as an inducement to secure new value-added businesses. It has an average minimum wage requirement of 115% of the State annual wage, or $45,834 for the new jobs created.
The training services can be provided through community colleges (Miami-Dade College), state universities (Florida International University), the Miami-Dade County Public School System or vocational-technical centers, consultants, or trainers from the business.
Incumbent Worker Training (IWT) Program (STATE)
This program is funded by the Federal Workforce Investment Act and is administered by Workforce Florida, Inc. This program provides a grant to train currently employed workers, with the goal of keeping the company’s employees competitive by providing them with new skills and retaining existing businesses. Training services can be provided through community colleges, state universities (Florida International University), the Miami-Dade County Public School System, vocational-technical centers, consultants, or trainers from the business.
Enterprise Zone Program
State tax benefits include a sales tax credit for job creation, a sales tax refund on business property and building materials, and a state corporate tax credit of 20% or 30% of wages paid to Enterprise Zone residents.
State of Florida Sales Tax Benefits
Sales Tax Credit for Job Creation If your business collects and pays Florida Sales and Use Tax, your business may apply for a State sales tax credit equal to 20% or 30% of wages paid to new Enterprise Zone residents. If the percentage of employees residing in an Enterprise Zone is less than 20% the tax credit will be 20% of monthly wages paid to new employee. If this percentage is 20% or more the tax credit will be 30% of monthly wages paid to new employee.
Sales Tax Refund on Business Equipment
If your business locates or expands in an Enterprise Zone, 97% of the State sales tax on business property is exempted, up to $10,000.
Sales Tax Refund on Building Materials
If your business builds or renovates in an Enterprise Zone, 97% of the State sales tax on materials used in rehabilitation of real property is exempted, up to $10,000 per parcel of real property.
Sales Tax Exemption for Electricity (Form DR-15JEZ)
If your business builds or expands in an Enterprise Zone, 50% or 100% of the State sales tax on utilities and 50% of the municipal utility tax is exempted based on municipality participation.
Corporate Income Tax Benefits
If your business pays Florida Corporate Income Tax, your business may apply for a State Corporate Income tax credit equal to 20% or 30% of wages paid to new Enterprise Zone residents. If the percentage of employees residing in an Enterprise Zone is less than 20% the tax credit will be 20% of monthly wages paid to new employee. If this percentage is 20% or more the tax credit will be 30% of monthly wages paid to new employee.
Property Tax Credit
If your business pays Florida Corporate Income Tax, a tax credit equal to 96% of all ad valorem taxes not abated by local government is applied against State corporate income taxes for a period of up to five (5) years. Maximum credit is up to $50,000 annually.
Community Contribution Tax Incentive If your business pays Florida Corporate Income Tax, 50% of contributions made to approve community organizations is credited against State corporate income taxes.
Administration and Application Procedures
Please forward all completed applications for certification and applicable fees to:
Miami-Dade County’s Enterprise Zone Coordinator (EZDA)
Office of Community and Economic Development
140 West Flagler Street, Suite 1100
Miami, Florida 33130
Forms and Applications
The following forms and applications are available the Florida Enterprise Zone website. http://www.floridaenterprisezone.com
• Form F-1158Z Enterprise Zone Jobs Credit
• Form DR-15ZC Sales Tax
• Form F-1156Z Corporate Income Tax
• DR-15CS Sales and Use Tax Return Form
• DR-26S Application for Refund for Sales and Use Tax Form
• EZ-E Business Equipment Sales Tax Refund Form
• EZ-M Building Materials Sales Tax Refund Form
• 8E-17TCA#012005 Community Contribution Tax Credit Program Form