Economic Incentives

St. Johns County, in cooperation with the Economic Development Council, offers a business incentive program for new and expanding business.

New Business into St. Johns County
Companies planning to start a business in St. Johns County may qualify for incentives depending on several factors. Incentives may be offered to qualifying companies based on designation as a target industry, size of workforce, size of facility, average wage rate, and location in an underdeveloped area.

Possible awards include expedited permitting, application assistance with any potential State incentives, and an economic development grant. Depending on total qualifications, grants may be awarded for amounts up to four years' value of ad valorem tax, four years' value of tangible personal property tax, and up to 100% rebate of water and sewer unit connection fees.

Existing St. Johns County Businesses Planning Expansion
Businesses currently located in St. Johns County that are planning an expansion may qualify for incentives, and they benefit from qualification standards that are a bit lower than those for newcomers.
Incentives may be offered to qualifying companies based on designation as a target industry, size of workforce, size of facility addition, average wage rate, and location in an underdeveloped area.
Possible awards include expedited permitting, application assistance with any potential State incentives, and an economic development grant. Depending on total qualifications, grants may be awarded for amounts up to 100% of impact fees and up to 100% of water and sewer unit connection fees.

STATE OF FLORIDA INCENTIVES
Targeted Industry Incentives
Qualified Target Industry Tax Refund
The Qualified Target Industry (QTI) Tax Refund incentive is available for companies that create high wage, value-added jobs in targeted high value-added industries such as (but not limited to): communications, corporate headquarters, research & development, manufacturing, and electronic equipment. Pre-approved applicants who create jobs in Florida receive tax refunds of $3,000 per net new Florida full-time equivalent job created; $6,000 in an Enterprise Zone or Rural County. For businesses paying 150 percent of the average annual wage, add $1,000 per job; for businesses paying 200 percent of the average annual salary, add $2,000 per job. New or expanding businesses in selected targeted industries or corporate headquarters are eligible.

High Impact Performance Incentive Grant (HIPI)
The High Impact Performance Incentive Grant (HIPI) is a negotiated incentive used to attract and grow major high impact facilities in Florida. Grants are provided to pre-approved applicants in certain high-impact sectors designated by the Governor's Office of Tourism, Trade and Economic Development. In order to participate in the program, a company must be in a designated high-impact sector; create at least 100 new full-time equivalent jobs (if a research and development facility, create at least 75 new full-time equivalent jobs) in Florida in a 3- year period; and make a cumulative investment in the state of at least $100 million (if a research and development facility make a cumulative investment of at least $75 million) in a 3-year period.

Capital Investment Tax Credit (CITC)
The Capital Investment Tax Credit is an annual credit against the project's Florida corporate income tax for up to 20 years. Eligible projects are those in designated, high-impact sectors (currently financial services, silicon technology, biotechnology, transportation equipment manufacturing or corporate headquarters) that create at least 100 jobs and invest at least $25 million in eligible capital costs.

Workforce Training Incentives
Quick Response Training Incentives
Quick Response Training (QRT) is an employer-driven training program designed to assist new value-added businesses and provide existing Florida businesses the necessary training for expansion. This program is customized, flexible and responsive to individual company needs. Workforce Florida Inc. administers this program and is Florida's innovative private-public partnership for competitive workforce incentives.