Special State Incentive Programs Available Only for High Economic Impact Projects

High Impact Performance Incentive (HIPI)

Negotiated performance grant to attract and grow major high impact facilities in Florida in certain approved industry sectors (Corporate Headquarters, Financial Services, Biomedical Technology, Silicon Technology, Transportation Equipment Manufacturing).  Projects recommended by Enterprise Florida to Governor's Office must make a cumulative investment in the state of at least $100 million and create at least 100 new full-time equivalent jobs in the state or if a research and development facility must make a cumulative investment of at least $75 million and create at least 75 full-time equivalent jobs.
 

Capital Investment Tax Credit (CITC)

Annual credit against Florida corporate income taxes for certain approved industry sectors (Corporate Headquarters, Financial Services, Biomedical Technology, Information Technology, Silicon Technology, Transportation Equipment Manufacturing).  Must create at least 100 new jobs and have a capital investment of at least $25 million.  An existing industry may be eligible if it creates or retains 1,000 jobs in the state (100 of which must be new jobs).  A headquarters facility locating or expanding in an Enterprise or Brownfields Zone may be eligible if it creates 1,500 new jobs paying at least 130% of the statewide average wage and makes a cumulative capital investment of at least $250 million. 
 

Florida Quick Action Closing Fund (QACF)

This is an up-front discretionary grant incentive that can be accessed by Florida's Governor, after consultation with the President of the Senate and the Speaker of the House of Representatives and review by the Joint Legislative Budget  Commission, to respond to unique requirements of wealth-creating projects.  When Florida is vying for intensely competitive projects, Closing Funds may be utilized to overcome a distinct, quantifiable disadvantage after other available resources have been exhausted.  Average wages must equal or exceed 125% of the state private sector average wage and the project must demonstrate a 5:1 return on state dollars investment ratio.
 

Florida Clean & Renewable Energy Technology Sector Programs

Florida has enacted a series of incentives including grants, tax refunds, tax credits, tax exemptions and venture capital programs designed to promote clean energy technology and to strengthen Florida's energy sources and economy while preserving the natural environment.  These incentives are available to companies looking to produce renewable energy sources and for those who want to integrate renewable energy into their production process.  Renewable energy means electrical, mechanical or thermal energy produced from a method that uses one or more of the following fuels of energy resources:  hydrogen, biomass, solar energy, geothermal energy, wind energy, ocean energy, waste heat or hydroelectric power.