City of Lake Wales Florida
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City of Lake Wales, Florida Economic Development Department
Economic Development
Incentives

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
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 the Lake Wales Economic Development Council at (863) 676-3445, or send e-mail inquiries




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