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 $41,516. 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) This incentive is paid for by Miami-Dade County and is modeled after the State of Florida’s Qualified Target Industry Tax Refund Program, which gives tax refunds to expanding or relocating companies that create jobs. Under this locally funded program, Miami-Dade County may provide the company with a refund of up to 100% of the incremental Countywide Ad Valorem Property taxes generated by the company’s location or expansion. This is determined by the capital investment or the number of new jobs created and the benefit can be extended for up to six years. The program can be based on either of two different criteria. First, the County may provide up to $6,000 per new job as follows: $3,000 for each new job ($4,500 if the job is in a Designated Priority Area), and an additional $1,500 for each new employee that resides in a Designated Priority Area.
The second scenario evaluates capital investment that must exceed $3 million in taxable property value. The company may, for a period of up to 6 years (or longer as may be determined by the County), receive a tax refund of 80% of the amount of Countywide Ad Valorem Property taxes generated by the project and up to 100% if in a Designated Priority Area. 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.
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 $41,516 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
Jobs Credit
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
Quick Links
http://www.floridaenterprisezone.com
http://www.miamidade.gov/ced/ez_maps.asp http://gisims2.miamidade.gov/Cservices/CSReport.asp