Lake County Jobs Growth Investment Trust Fund
Cash incentives are available to new industrial and manufacturing businesses that create ten or more jobs, and for existing business expansions that create at least five new positions at a salary range of 115% of the County’s average wage (which is currently $16.80 per hour or $34,944 annually). Maximum awards up to $4,000 per job for industrial/manufacturing, and $2,000 per job for warehouse/distribution and backoffice/corporate headquarters activities are available on a countywide basis.
Transportation Impact Fee Deferral
Lake County transportation impact fees may be deferred for new businesses, or expansions to existing business, until a certificate of occupancy is issued for any new building or addition; for new businesses that create ten or more jobs, and for existing businesses adding five or more new positions. This program is administered countywide.Permitting
Manufacturing, warehouse distribution, and corporate headquarters relocations and expansions qualify for “Fast Track” permitting status from site plan application through building plan approval in Lake County jurisdiction.
Finance
Lake County adopted a resolution allowing the Enterprise Florida Development Finance Corporation to operate the Enterprise Bond program in Lake County. The Enterprise Bond program provides access to Industrial Development Bonds to small borrowers from $500,000 to $2 million by grouping financings for small, individual borrowers into a larger pooled bond issue.
The pooling spreads the costs of issuance over many small borrowers who would otherwise find it uneconomical to seek tax exempt financing. The Metro Orlando Economic Development Commission administers the Industrial Revenue Bond program on behalf of Lake County for qualified borrowers needing between $2 million and $10 million.
These Tax Exempt Industrial Revenue Bonds are recommended by the Lake County Industrial Development Authority and approved by the Lake County Board of County Commissioners.
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