Business Attraction and Recruitment

The Office of Economic and Small Business Development (OESBD) provides technical support in various forms to businesses and non-profit organizations. This technical support can be through internship/co-op programs between local universities and business needs, and assistance with grants and incentive information. New and existing businesses can inquire upon applications for bonds and other financial assistance programs that could help businesses grow resulting in job creation, as well as grant information to aid in the implementation or expansion of a new headquarters, district or business. 

Among the tools and resources employed by OESBD to accomplish these objectives are:

Qualified Target Industry Tax Refund (QTI)

New and existing companies that create high wage jobs in targeted industries may be eligible for this incentive. The incentive includes refunds on corporate income, sales, ad valorem (property taxes), tangible & intangible personal property, insurance premium, and certain other taxes. Applicants who create jobs in these industries at 115% of the County's average annual wage could be eligible for incentive tax refunds of up to $6,000 per new job created.

Broward County Job Growth Incentive

Both new and existing businesses creating high skill/high wage jobs and serving multi-state or international markets may be eligible for this incentive. The incentive is a direct cash incentive paid to companies creating jobs in excess of the 115% of the County's average annual wage. This program requires the joint participation of Broward County and the municipality in which the company is, or will be located. Companies could receive up to $2,000 per new job created to a maximum Broward County contribution of $200,000 per company.

High Impact Performance Incentive Grant

Designated high-impact sector businesses creating at least 50 new full-time equivalent jobs (if a R&D facility, create at least 25 new full-time equivalent jobs) in Florida in a three-year period; and making an investment of at least $50 million (if a R&D facility, an investment of at least $25 million) in a three-year period may be eligible for this grant program. Upon approval, the business would be awarded 50% of the eligible grant upon commencement of operations, with balance of the awarded grant provided when full employment and capital investment goals are met.

Capital Investment Tax Credit

This is an annual credit, provided for up to 20 years, against the corporate income tax. Eligible projects are those in designated high-impact portions of the following sectors: advanced manufacturing, clean energy, biomedical technology, financial services, information technology, silicon technology, transportation equipment manufacturing or be a corporate headquarters facility. Projects must create a minimum of 100 jobs and invest at least $25 million in eligible capital costs. The level of investment and the project's Florida corporate income tact liability for the 20 years following commencement of operations determines the amount of the annual credit.

 

The Office of Economic and Small Business Development's Retention and Expansion programs are also used to attract and recruit businesses. For more information, contact us at 954-357-6400.