Local & State Incentives

Businesses like Pasco County's strong employment incentive programs.  County government has $45 million available to help companies locate in Pasco County.  These funds can be used for training, water and sewer extensions, road improvements, or even direct cash payments for companies creating employment opportunities.

For example, a company creating 100 jobs with an average salary of $40,000 will qualify for an incentive of $2,000 per job - a total of $200,000.  This is paid in four annual payments averaging $50,000.

The State of Florida has similar incentives, including training, road improvements, and state tax credits.  Pasco EDC can help companies apply for these funds.

Pasco County, Florida Incentives

Pasco County Job Creation Incentive Program

This incentive program is in addition to the State of Florida's incentive programs. 

Program Characteristics:

  • $2,000-$5,000 per job
  • Minimum 10 new jobs created in Pasco County during the first year of operations
  • Average annual wage of at least 115% of the prevailing Pasco County wage
    $35,494 - Pasco County average annual wage as of January 2017 (source: Enterprise Florida)
  • At least 51% of sales outside of Pasco County
  • Payable to the company at 25% per year over four years

Penny for Pasco

In the year 2012, Pasco County residents approved a $0.01 sales tax increase with a portion earmarked specifically for economic development programs.  Estimated to generate approximately $56 million over 10 years, monies can be used for:

  • Business Park Development
  • Infrastructure, Permitting
  • Speculative Building Construction
  • Land Assembly

Pasco County Expedited Permitting

This Pasco County initiative strives to streamline governmental review and approval of building permits for new construction of office and industrial buildings. 

Program Characteristics:

  • Easy application
  • Fast Approval
  • Expedited Review, Recommendations, and Approvals

State of Florida Incentives

Qualified Targeted Industry Tax Refund

For targeted industries to expand existing facilities or locate new facilities in Florida. 

Program Characteristics:

  • Provides tax refunds on eligible state taxes due and paid by the company
  • $3,000 per new job created over initial three years of project locating to or expanding in Florida
  • Minimum 10 new jobs to Florida or a 10% increase in employment for expanding Florida companies
  • Average annual wage of at least 115% of the prevailing community wage
    $35,494 - Pasco County average annual wage as of January 2017 (source: Enterprise Florida)
  • Paid over four years at no more than 25% of total tax refund in any fiscal year.

High Impact Performance Incentive

A negotiated grant used to attract and grow major high-impact facilities in Florida.  Business is awarded 50% of the eligible grant upon commencement of operations.  The balance of the awarded grant will be paid once full employment and capital investment goals are met. 

To Qualify:

  • Create 50 new-to-Florida jobs (25 for research and development)
  • Make $50 million in capital investment in a three-year period ($25 million for research and development)
  • Operate within designated high-impact portions of the following industry sectors:
    • Clean Energy
    • Life Sciences
    • Financial Services
    • Corporate Headquarters
    • Transportation
    • Information Technology
    • Advanced Manufacturing
    • Semi Conductors
    • Equipment Manufacturing

Capital Investment Tax Credit

An annual tax credit provided up to 20 years against Florida's corporate income tax.

To Qualify:

  • Have a cumulative capital investment of at least $25 million in the acquisition, construction, installation, and equipping of a project from the beginning of construction to commencement of operations
  • Create a minimum 100 new jobs to Florida
  • Operate within one of the following industry sectors:
    • Clean Energy
    • Life Sciences
    • Financial Services
    • Corporate Headquarters
    • Transportation
    • Information Technology
    • Advanced Manufacturing
    • Semi Conductors
    • Equipment Manufacturing

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CONTACT ME
Local & State Incentives
Tom Ryan
Economic Development Manager

Email: .(JavaScript must be enabled to view this email address)
Toll free: (888) 60-PASCO | (888-607-2726)
Telephone: (813) 926-0827 ext. 228
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