Local 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.

Sarasota County Incentives

It all comes down to choosing the right local community. Because this isn’t just where you work. It’s where you live. And it’s where you’ll be recruiting new employees and clients to work with you.

Sarasota Means Action Response Team (SMART) Permitting Program

A fast-track permitting system, the SMART program allows targeted industry companies wishing to expand or relocate in Sarasota County to develop a facility within a time frame that meets corporate goals and deadlines. Shorter than working through the system without special assistance, the SMART program doesn’t eliminate or circumvent existing land use regulations or construction standards; it simply accelerates the process.

Requirements

  • Operate in a Qualified Targeted Industry
  • Create a minimum of 10 new full-time jobs in Sarasota County
  • Pay average annual wage exceeding the average wage of private industries in Sarasota County ($45,625)

Economic Development Incentive Fund

This fund helps retain existing businesses, assist those who want to expand, and attract new businesses that are considering Sarasota County. The pay-for-performance grant program is focused on Qualified Targeted Industry companies identified by Enterprise Florida and County Resolution, with quality job creation.

Requirements

  • Manufacturing & Logistics – Average Wage of the new employees located in the County will meet or exceed 100% of the average annual wage of the Metropolitan Statistical Area ($45,625)
  • All other targeted industries – Average Wage of the new employees located in the County will meet or exceed 115% of the average annual wage of the MSA ($52,469)

Additional Considerations

  • Business falls within the industries identified as Qualified Targeted Industries.
  • Business will create a minimum of 10 new full time, permanent jobs in Sarasota County.
  • Other economic benefits to the community, i.e., capital investment, economic impact and increased sources of revenue to the County.

Economic Development Ad Valorem Tax Exemption (EDAVTE)

The EDAVTE program is a catalyst for existing businesses to relocate, expand and create new job opportunities for local residents. This program authorizes the County, and those respective Cities’ Commissions, to grant a property tax exemption to qualifying businesses for up to 100 percent for up to 10 years, on both real and tangible personal property.

Requirements – New Business to Sarasota County

  • Operate in a Qualified Targeted Industry
  • Create 10, 25 or 50 (based on below requirements) new-to-Sarasota County jobs in first 2 years of the exemption
  • Pay an average annual wage of 115% Metropolitan Statistical Area ($52,469)
  • Capital Investment of at least $1 million
  • A business establishing ten (10) or more full-time jobs which manufactures, processes, compounds, fabricates, or produces for sale items of tangible personal property at a fixed location and which comprises an industrial or manufacturing plant; or
  • A business establishing twenty-five (25) or more full-time jobs, the sales factor for which, as defined below, for the facility with respect to which it requests an economic development ad valorem tax exemption, is less than fifty (50%) percent inside the Metropolitan Statistical Area  for each year the exemption is claimed; or
  • An office space in the County/City leased or owned and used by a corporation newly domiciled in the County/City;
    provided such office space houses fifty (50) or more full-time employees of such corporation; provided that such
    business or office first begins operation on a site clearly separate from any other commercial or industrial operation
    owned by the same business

Requirements – Expanding Sarasota County Business

  • Operate in a Qualified Targeted Industry
  • Create 10 new-to-Sarasota County jobs in first 2 years of the exemption
  • Pay an average annual wage of 115% Metropolitan Statistical Area ($52,469)
  • Capital Investment of at least $1 million
  • A business establishing ten (10) or more full-time jobs which manufactures, processes, compounds, fabricates, or produces for sale items of tangible personal property at a fixed location and which comprises an industrial or manufacturing plant; or
  • A business establishing twenty-five (25) or more full-time jobs, the Sales Factor for which, as defined below, for the facility with respect to which it requests an economic development ad valorem tax exemption, is less than fifty (50%) percent inside the Metropolitan Statistical Area for each year the exemption is claimed; provided that such business increases operations on a site co-located with a commercial or industrial operation owned by the same business, resulting in a net increase in employment of not less than ten (10%) percent or an increase in productive output of not less than ten (10%) percent.

Mobility Fee Mitigation Program

This award is determined based on job creation, wages, capital investment, and availability of child care for employees. It allows the County to mitigate up to 100% of mobility fees (short-term costs, typically paid before a building permit or certificate of occupancy is issued), to foster economic development while maintaining funding for transportation facilities.

Calculate your anticipated mobility fee using this tool

Requirements

  • Operate in a Qualified Targeted Industry
  • Create 10 new-to-Sarasota County jobs
  • Must be located in a designated mitigation area

Special Meeting Incentive

Visit Sarasota County is pleased to partner with the EDC of Sarasota County to offer a special meeting cash incentive for targeted industries holding a conference or meeting in Sarasota County. The incentive is specifically designed to introduce first-time and re-introduce infrequent conferences/meetings to Sarasota County. Choose an incentive option based on the needs of your group. The Incentive amount distributed is based on the highest peak room night produced up to $3,750 in incentives, PLUS, industries within the following sectors will be awarded a $500 bonus.

VSC Meeting Sales Manager: Amanda Walker [email protected]
VSC Director of Sales: Kelly M. Defebo, CMP [email protected]

Requirements

  • Operate in a Qualified Targeted Industry
  • Headquartered outside of Sarasota, Manatee & Charlotte Counties
  • Minimum 10 peak room nights

Ready to Start?

Learn more about what we can do for you.

How Can We Help?

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

Contact The EDC

Incentives to Solve 3 Key Problems

  • Time
  • Cost
  • Uncertainty

Invest in Sarasota County

The EDC of Sarasota County diversifies our local economy and helps create jobs for Floridians. Investing in the EDC empowers us to grow our economy and attract more business to our region.

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