The Office of Economic and Small Business Development (OESBD) provides assistance to Broward County businesses through business development, training, technical assistance, and international trade programs. These programs are designed to facilitate better communication between the Broward County business community and County government and to increase contracting opportunities for small businesses. Additionally, Broward County works with our private sector partner the Greater Fort Lauderdale Alliance to help companies already located in Broward County succeed and prosper. A key business retention and expansion initiative is BRAVO (Business Retention Assistance and Visitation Outreach). Through this program, representatives of the Alliance, local municipalities, and chambers of commerce conduct visits to local businesses in an effort to strengthen the local economy.
Among the tools and resources employed by OESBD to accomplish these objectives are:
- Direct Cash/Job Growth Incentive
- Strategic Job Creation Incentive
- Qualified Target Industry Tax Refund
- High Impact Performance Incentive Grant
- Capital Investment Tax Credit
Direct Cash/Job Growth Incentive
This County incentive program provides a monetary award to new, relocating, or expanding Targeted Industry Businesses and businesses that meet the Special Project criteria, that provide the County with a positive return on investment based upon each company's projected capital investment and number of new jobs created in Broward County. Any incentive awarded under this program will be paid by the County and/or the municipality in which the company is created, relocated, or expanded. The County and the applicable municipality will negotiate the percentage each will contribute based upon an analysis of projected tax revenue receipts over the incentive period. The County may elect to award this incentive without municipal contribution.
Incentives under this program may be granted to qualified companies that pay at least one hundred fifteen percent (115%) of the average annual wage in Broward County and create a minimum of ten (10) new jobs, with the exception of Special Projects. Companies may receive up to $2,000 per new job created to a maximum Broward County contribution of $200,000 per company.
Strategic Job Creation Incentive
This County incentive program provides a monetary award to new, relocating, or expanding Targeted Industry Businesses, and businesses that create manufacturing jobs, that provide the County with a positive return on investment based upon the number of new jobs created in Broward County and their corresponding cumulative salaries. The County and the applicable municipality may negotiate with the local municipality based upon an analysis of projected tax revenue receipts over the incentive period. The County may elect to award this incentive without municipal contribution.
Incentives under this program may be granted to qualified companies that create new jobs with salaries that exceed the average annual wage in Broward County. The amount of any incentive award under this program will vary according to the salary of the jobs created and retained up to $2,000 per new job created and a maximum Broward County contribution of $1,000,000 per company. The award for each new job created and retained under this program is as follows:
|Category - Strategic Job Creation Incentive||2023 Average Annual Wage ($) Minimum Requirement||Incentive Per Job Created|
|Manufacturing (County average wage)||$62,881||$750|
|115% County average wage||$72,313||$1,000|
|150% County average wage||$94,322||$1,500|
|200% County average wage||$125,762||$2,000|
Source (Average Annual Wage): state-of-florida-2023-incentive-wage-requirement-county.pdf (chooseclay.com)
Qualified Target Industry Tax Refund (QTI)
The QTI Program expired on June 30, 2020, but FLDEO, Broward County, and cities continue to process payments for projects approved before the program expired.
High Impact Performance Incentive Grant
Designated high-impact sector businesses creating at least 50 new full-time equivalent jobs (if an 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 an 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 the 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.
Broward County Incentives Story Map
Broward County OESBD developed the NEW Broward County Incentives Story Map to provide developers, investors and small businesses access to economic development incentives and information. A brief tutorial is available for your convenience.
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.