Clay County Investment Incentives

ECONOMIC DEVELOPMENT TAX INCREMENT GRANT: Targets commercial projects that add to the tax base, project new employment in excess of 10 direct, full-time equivalent persons and makes a significant economic impact (PCI greater than $1,000,000). Utilizing a “base year” assessed taxable property value (from the Property Appraiser’s database) for the project, a certain percentage of the county’s incremental increase in ad valorem taxes on real property paid by the project above the base year amount is available as an EDG to the developer.

LARGE EMPLOYER RETENTION GRANT: Available as an incentive for large employers to remain in Clay County if they are contemplating a move out of the county. In order to be eligible, a business does not need to meet the criteria of capital investment, creation of jobs or minimum salary requirements. The Employer must pay real property ad valorem taxes to the County either directly or as a pass-through charge under a lease agreement.

TANGIBLE PERSONAL PROPERTY CAPITAL INVESTMENT GRANT: Available as an incentive for an Employer who is contemplating moving its business to Clay County, Florida and who intends to invest a minimum of $1,000,000 for machinery and equipment in its Clay County, Florida location.

INDUSTRIAL DEVELOPMENT REVENUE BONDS: The Clay County Development Authority (CCDA) is the sole industrial development authority for Clay County. In this capacity, CCDA is authorized to issue tax-exempt bonds to finance the expansion or relocation of industrial development.

REGULATORY RELIEF: The intended purpose behind regulatory relief is to promote positive forms of new development and redevelopment, to reward the creation and retention of high skilled, high wage jobs, to attract primary businesses, to increase the non-residential tax base and to foster a more diverse employment base within Clay County. (Subsequently, Clay County has regulatory relief programs for Target Industry employers in the form of Impact Fee Mitigation.)

 

"The Clay County Board of County Commissioners has established its number one priority as economic development."

Clay County has a Business Incentive Policy that offers property tax rebates to qualifying businesses relocating to Clay County.

Qualifying projects create at least 10 new jobs that pay a minimum of 101% above Clay's average wage and invest a minimum of $1,000,000 in capital improvements. Each project is reviewed and approved by the Board of County Commissioners.

Click Here to download a printable Clay County Incentive Summary Sheet.  


Florida Incentives

Florida consistently ranks as the #1 business tax climate in the Southeast.  Florida offers bottom-line advantages for long term profitability for all types of businesses.  Florida also offers tax credits, refunds, and other incentives to promote business development and job creation.  

Find more information about Florida Sales and Use Tax Incentives below:

The Qualified Target Industry Tax Refund (QTI) is available for companies that create high wage jobs in targeted high value-added industries.  This incentive includes refunds on corporate income, sales, ad valorem, intangible personal property, insurance premium, and certain other taxes. 

The Capital Investment Tax Credit is used to attract and grow capital-intensive industries in Florida.  It is an annual credit, provided for up to twenty years, against the corporate income tax.  Eligible projects are those in designated high-impact portions of the following sectors: advanced manufacturing, clean energy, biomedical technology, financial services, information technology, silicon technology, transportation equipment manufacturing, or be a corporate headquarters facility.  Projects must create a minimum of 100 jobs and invest at least $25 million in eligible capital costs.  

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.  A state educational facility is available to assist with application and program development or delivery.  The educational facility will also serve as fiscal agent for the project.  

Incumbent Worker Training is a program that provides training to currently employed workers to keep Florida's workforce competitive and to retain existing businesses.  The program is available to all Florida's businesses that have been in operation for at least one year prior to application and require skills upgrade training for existing employees.