City of Lake Wales - Economic Development

BUSINESS INCENTIVES (Offered through Enterprise Florida)
	Qualified Target Industry Tax Refund Program (QTI)	Quick Response Training Program (QRT)	Economic Development Transportation Fund	Qualified Defense Contractor Tax Refund Program (QDC)
Type of Incentive	Tax Refund	Grant	Grant	Tax Refund
Award Made to Whom	Business	Training Provider	Local government for business	Business
Wage Requirement	At Least 115% of state/county/ or MSA wage	At Least 115% of state or county wages	Considered but not required	At Least 115% of state/county/ or MSA wage
Number of Jobs Required	At least 10 new full time jobs / Expansion: 10% increase in jobs	At least 10 new full time jobs / Expansion: 10% increase in jobs
Available to Expanding Industry	Yes	Yes	Yes	Yes
Available to New Industry	Yes	Yes	Yes	Yes
Available to Retain Jobs	No	As part of an expansion project	Yes	Yes
Amount of Award	Up to $5,000 per job not exceeding $5 million. Enterprise Zones: $7,000 per job not exceeding $7 million	Negotiated with local education provider to meet industry needs	Up to $2 million	Up to $5,000 per job not to exceed a total of $7.5 million
Payout Schedule	Over a minimum of 4 years	Reimbursement quarterly to local education provider	Paid to local government as needed for construction	Over a minimum of 4 years
Specified Use of Funds	None		Design & engineering, construction costs and traffic signals	None
Local Support Required	Yes - 20% of total tax refund	Yes	Yes, right-of-way	Yes - 20% of total tax refund
"But For" Incentive	Yes	No	Yes	Yes
Eligible Industries/ Businesses/ Activities	Corporate HQ; Manufacturers; Security/Commodity Brokers Insurance Carriers; Business Services; Printing/Publishing; Communications; R&D	Must produce goods/services for outside the local area	Manufacturers, corporate headquarters	Defense only
Ineligible Industries/Businesses/ Activities	Retail activities, electrical utility company, phosphates/solid minerals severance, mining, or processing, oil/gas exploration or production	Retail establishments Training for existing employees	Retail, distributors, hotels (except for EZ, REDI counties, and distressed areas)	See Above
For Further Information	850-488-6300	850-922-8645	850-488-6300	850-488-6300

OTHER BUSINESS INCENTIVES
GROUP	PROGRAM	QUALIFICATIONS	BENEFIT
Workforce Development Board	On-the-Job Training	The company agrees to provide the training.	Employers can receive a reimbursement of up to 50% of wages paid to qualified employees
Workforce Development Board	Customized Training	Employers needing to hire and train employees (groups of 8 or more) in the same or similar job. Employer commits to hire those qualified that successfully complete the training.	The Board coordinates and pays for the training to the employer’s specifications.
Florida Jobs and Benefit Service	Applicant Prescreening	None	At no cost to the employer, Job Service will pre-screen applicants, take I-9 and application forms. Job Service will forward qualified potential candidates to the appropriate Human Services Office.
Central Florida Development Council	Business Industry Roundtable	None	Serve as a liaison to local universities, colleges, technical centers, and Job Services of Florida. Offers counsel and direction to above institutions regarding education and training to the Polk County work force.
State/Local	Sales Tax Exemption	Expanding Businesses; for manufacturing equipment purchases above $50,000 and research and development costs	Sales and use tax exemption
State/Local	Manufacturer's Electricity Sales Tax Exemption		Electricity charges used directly to operate machinery and equipment used to manufacture or produce items for sale or operate pollution control, recycling maintenance equipment are exempt from sales tax.
State/Local	Manufacturing Equipment Tax Exemption	New Manufacturing Businesses	A refund on the 6% sales tax paid on purchases of new machinery and equipment qualifying as : Section 38 - property defined in the Internal Code
State/Local	Boiler Fuel Tax Exemption		Boiler fuels (recycled oil, waste oil, and solid waste material used as fuel) materials incorporated in the final product and container/packaging are not subject to use or sales tax.
State/Local	Computer Software Tax Exemption		Custom Software and certified resource recovery equipment are exempt from the sales and use tax, as is cogeneration of electricity.
State/Local	Pollution Control Tax Incentive		Equipment is assessed at salvage value for property tax purposes.
Polk County	Industrial Revenue Bonds	Not available	Bonds are for financing a wide variety of manufacturing projects and range in amounts from $2 - $10 million.

Visit the website of our new 165-acre Longleaf Business Park. For information about the Business Park and other economic development opportunities in Lake Wales, Florida, contact Economic Development at (863) 678-4182, ext. 224 or send e-mail inquiries