The City of Plantation works with the State of Florida, Enterprise Florida, to attract, expand and retain businesses in our community. A number of programs are offered by the State to assist enterprising industries to flourish, enable thriving companies to grow, ensure existing businesses prosper, and overcome development related obstacles.
Assistance is provided through Enterprise Florida to businesses which meet various goals which promote a stable economy, and improve the quality of life. Enterprise Florida works negotiate incentives with various businesses seeking opportunities in Florida. Additionally it conducts competitive analysis and makes policy recommendations to assist with local economic stability. The Governor’s Office of Tourism, Trade and Economic Development(OTTED) is also available which maintains the approval authority and promotes the governor’s economic development initiatives.
Programs offered through the State of Florida assists with: local incentives, corporate taxes, tax exemptions, labor costs, energy availability and associated costs, occupancy or construction costs, highway accessibility, land availability, and environmental regulations. To qualify for State programs, businesses must meet certain criteria that addresses a defined target industry business, ensures stability, allows for higher wages, provides for independent marketing and resources, offers an industrial base that is diversified, and other economic benefits. The following is a list of programs and program criteria offered through the State of Florida in which the City of Plantation participates.
Qualified Target Industry
The Qualified Target Industry (QTI) program provides an incentive for target industries to locate new facilities in Florida or to expand existing facilities in Florida. To qualify a company must create at least ten (10) new jobs (or a 10% increase for expanding Florida companies), pay an average of at least 115% of the area wages, have a significant positive impact on the community.
Quick Response Training Incentives
The Quick Response Training (QRT) program provides grant funding for customized training to new or expanding businesses. The program is flexible and structured to respond quickly to meet business training objectives. A local training provider, such as a local college, university or technical center, is selected and available to assist in the application process and program development or delivery. Reimbursable expenses include instructors, trainer salaries, curriculum development, books, and supplies.
Incumbent Worker Training Program
The Incumbent Worker Training (IWT) Program provides employers with funds to train currently employed workers in an effort to keep their firms and workers competitive. The program addresses retraining to meet changing skill requirements caused by new technology, retooling and so forth.
Economic Development Transportation Fund or Road Fund
Grant funding is available to the City to alleviate transportation impediments for companies directed toward business retention, expansion or by location. Criteria is similar to Qualified Target Industry criteria.
Capital Investment Tax Credit
Tax credits are available for designated portions of high impact industries such as the life sciences, corporate headquarters, and information technology. Companies must provide for a minimum of 100 new jobs and $25 million of capital investment, plus other specifics.
High Impact Performance Incentive
Negotiable grant funding assistance is available to businesses which offer is in the high impact. Companies must provide for a minimum of 100 new jobs with 75 jobs for research and development, and $100 million capital investment with $75 million for research and development.
Local permit streamlining procedures is offered to assist businesses depending upon the specifics of the project. For more specific details on State programs go to www.eflorida.com or contact Charity Good