FLORIDA INCENTIVES SUMMARY
High Impact Performance Incentive (HIPI)
HIPI is a negotiated grant for projects designated as high-impact portions of the following sectors - Clean Energy, Life Sciences, Financial Services, Corporate Headquarters, Transportation Equipment Manufacturing, Information Technology, Advanced Manufacturing, and Semiconductors. Companies must create at least 50 new full-time equivalent jobs (R&D must create 25 new full-time equivalents). The project must have a cumulative capital investment of $50 million over a three year period. Fifty percent of the eligible grant is awarded at the commencement of operations and the balance of the award once full employment and capital investment goals are met.
Capital Investment Tax Credit (CITC)
The CITC is an annual tax credit used to attract and grow capital-intensive industries to Florida. Projects must create a minimum of 100 new jobs and make a capital investment of at least $25 million. The tax credit may be for a term of up to 20 years.
Quick Response Training (QRT)
QRT provides a reimbursement of training expenses including instructor and trainer wages, curriculum development, and textbooks/manuals. The program considers the needs of individual companies and allows a customization of the QRT to meet the training needs of each company.
Incumbent Worker Training Program (IWT)
Provides training to existing Florida workers to keep the state workforce competitive and to retain existing companies. IWT is available to companies in operation at least one year and require upgrading of the skills of their existing workforce.
Notice: This list of economic development incentive programs is intended to provide a high-level overview of commonly pursued state discretionary programs. A comprehensive analysis of project details will determine the full scope of state and local incentive programs that may be available to support a specific project.