Incentives...
Ocala/Marion County is a community that understands the competitive nature of business. The job of the EDC is to play an instrumental role in assisting new and existing firms with potential incentive packages when ready to take the next step of growth.
NOTE: In many cases incentive programs require a condition to exist whereby the company makes a declaration that the funds are needed to help them decide on a specific site or community thereby creating the "inducement". Commitments prior to this declaration may prohibit the company from being eligible for the funds.
City of Ocala Economic Improvement Fund (EIF)
Created by the Ocala Electric Utility and managed by the Ocala City Council, these funds may be used for a myriad of purposes including: infrastructure development, training or matching funds for the state sponsored Qualified Target Industry Tax Refund Program.
The Quick Response Training Program (QRT)
Workforce Florida has a training program designed to help companies identify, recruit and train employees during initial phases of locating or expanding in a Florida community.
The Qualified Target Industry Tax Refund Program (QTI)
This program allows for tax refunds of up to $3,000 per job created within certain industry sectors.
The Economic Development Transportation Fund (Road Fund)
Enterprise Florida has built an infrastructure program designed to remove any transportation barriers from a company. Grant amounts are directly tied to jobs created.
Waiver of Sales Tax on Power Consumption by Manufacturers
The Florida Department of Revenue allows communities to eliminate the state’s portion of the sales tax normally charged to companies on power consumption in the manufacturing process.
Marion County Industrial Development Bonds (IDBs)
This Marion County supported financing program is designed to utilize assets and future income of the applicant to guarantee payment of low interest loans. Those funds may be used to purchase land, build a new facility, purchase new equipment or cover some “soft costs,” such as architectural fees. Users must be manufacturers, healthcare facilities or eligible 501(C)(3) organizations.
Enterprise Bond Program
This statewide program administered by Enterprise Florida pools smaller industrial development bond requests together to make the sale financially feasible for small and medium-sized businesses.
Note: Other incentives exist for specialized projects, large investments or high-tech industries. Contact us at 352-291-4410 for details.
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