State Incentives

Florida has a great climate for business, and Sarasota County is an ideal place to locate and grow. Our local incentive programs solve three key problems for business – time, cost, and uncertainty.

Incentives to Solve 3 Key Problems

  • Time
  • Cost
  • Uncertainty

How Can We Help?

Contact Destin Wells, VP of Business Development, to see how we can help you thrive in Sarasota County.

Which Florida Incentives Are Right for You?

We believe in making it worth your while to relocate or start your business here. And for industry sectors targeted for investment, the state offers even more grants, refunds, and credits to make it happen.

Florida Qualified Target-Industry Tax Refund

This award provides $3,000-$7,000 per job tax refund for companies that create high-wage jobs in targeted, high-value industries. This incentive includes refunds on corporate income, sales, ad valorem, intangible personal property, insurance premiums and certain other taxes.

Requirements
  • Operate in a qualified targeted industry
  • Create a minimum of 10 new full-time jobs in Sarasota County
  • Pay an average annual wage of 115% metropolitan statistical area (MSA) – $48,102

Download More on Target-Industry Tax Refunds

Florida Capital Investment Tax Credit

The Capital Investment Tax Credit is an annual credit, provided for up to 20 years against the corporate income tax. Eligible projects are in biomedical technology, financial services, information technology, silicon technology and transportation equipment manufacturing.

Requirements
  • Operate in a qualified targeted industry
  • Create a minimum of 100 new full time jobs in Sarasota County
  • Capital Investment of at least $25 million

Download More on Capital Investment Tax Credit

Florida High Impact Performance
Incentive Grant

The High Impact Performance Incentive is a case-by-case negotiated grant used to attract and grow major facilities in Clean Energy, Corporate Headquarters, Financial Services, Life Sciences, Semiconductors, and Transportation Equipment Manufacturing.

Requirements
  • Operate in a High Impact-designated qualified targeted industry
Florida’s tax climate provides these stable and highly favorable advantages that make Florida a profitable location for every type of business
  • NO corporate income tax on limited partnerships
  • NO corporate income tax on subchapter S-corporations
  • NO state personal income tax guaranteed by constitutional provision
  • NO corporate franchise tax on capital stock
  • NO state-level property tax assessed
  • NO property tax on business inventories
  • NO property tax on goods-in-transit for up to 180 days
  • NO sales and use tax on goods manufactured or produced in Florida for export outside the state
  • NO sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging
  • NO sales and use tax on co-generation of electricity
Your business may be entitled to more great sales and use tax exemptions
  • Machinery and equipment used by a new or expanding Florida business to manufacture, produce or process tangible personal property for sale
  • Labor, parts and materials used in repair of and incorporated into machinery and equipment
  • Electricity used in the manufacturing process
  • Certain boiler fuels (including natural gas) used in the manufacturing process
  • Semiconductor, defense and space technology-based industry transactions involving manufacturing equipment
  • Machinery and equipment used predominantly in research and development
  • Labor component of research and development expenditures
  • Commercial space activity — launch vehicles, payloads and fuel, machinery and equipment for production of items used exclusively at Spaceport Florida
  • Aircraft parts, modification, maintenance and repair, sale or lease of qualified aircraft
  • Production companies engaged in Florida in the production of motion pictures made for television motion pictures, television series, commercial music videos or sound recordings

 

Incentives to Solve 3 Key Problems

  • Time
  • Cost
  • Uncertainty

How Can We Help?

Contact Destin Wells, VP of Business Development, to see how we can help you thrive in Sarasota County.

Explore the Possibilities

Property Search

Search available properties to find the right location for you and your business.

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Top Employers

See the companies forming the economic base for our dynamic county.

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Workforce Development

Learn how we're continuing to grow our qualified workforce on the Suncoast.

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Chairman’s Advisors

CareerSource Suncoast
Wells Fargo
University of South Florida
Gulf Coast Community Foundation
FCCI Insurance Group
Sarasota Bradenton International
Suntrust
S-one1
Sarasota Memorial Hospital
Schumaker
Schroeder Manatee Ranch
Ringling College
Premiero Community Bank
PNC Bank
PGT Windows
Michael Saunders & Company
Lakewood Ranch Commercial
Herald Tribune
Florida Power & Electric
Comcast Business
CenterState Bank
Benderson Development
Bank of Tampa
Coldwell Banker
Baltimore Orioles
Onideas
Sarasota magazine
CareerEdge
Teco Peoples Gas