Incentive - Sarasota County Government

Long recognized for its charming cities with world-class arts and

culture, Sarasota County today is on the national map as a great

place to live and work. Sarasota County anchors the middle of

Florida’s western coast, 60 miles south of Tampa Bay, centrally

located within 90 minutes of three international airports and a

major port.

Blessed with inspiring natural beauty and an appealing climate

which includes an average temperature of 72 degrees, this coastal

paradise is one of the Southeast’s most dynamic business centers.

Sarasota County Shines:

Forbes: #11 “Best Cities for Jobs”

Inc. Magazine: #8 “Boomtowns”

Relocate-America: Top100 “Best Places to Live”

Money Magazine: #7 “Top Places to Retire Young”

KPMG Study: Tampa Bay Region #2 Lowest Overall Business Cost

Consistently voted among the Top 10 Beaches in the Country

Sarasota County Florida... For Business. For Pleasure. For Life.

Sarasota County has many of the attributes necessary for success

in the global economy: superior schools, significant research and

education facilities, high educational attainment and a regional

workforce of more than 350,000.

A leader in innovative environmental management and

sustainable living, Sarasota County’s focus on quality of life

outshines many growth communities.

ECONOMIC INCENTIVE PROGRAMSARASOTA COuNTy, FlORIdA

Rapid Response seRvices

customized county Rapid ResponseSMART (Rapid Permitting Program)A fast-track permitting system, the Sarasota Means Action Response Team (SMART) program will allow targeted industry companies wishing to expand or relocate in Sarasota County to develop a facility within a time frame that meets corporate goals and deadlines. This time frame is usually shorter than working through the system without special assistance. The SMART program does not eliminate or circumvent existing land use regulations or construction standards; it accelerates the process by making certain determinations and decisions about the development of the land facilities in a more expeditious manner.

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expedited permitting for Green designed projects and/or affordable HousingGreen designated and/or projects designated for affordable housingare expedited to a greater degree than all other permits. This includesall phases of the approval process, including site and development review and building permits.

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WeB-Based permit applicationsWeb based permit applications for Over the Counter permits for any of the following: Change out (1) window or (1) door, electrical, electrical service change, electrical T-pole, electrical wiring, garage door, mechanical change out/replacement, plumbing-sewerline, plumbing-waterline, plumbing-repipe, reroof (various types), solar panels and storm shutters.https://buildings.scgov.net

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Contact:Economic Development Corporation of Sarasota CountyLive Oak Corporate Center2601 Cattleman Rd. Suite 102Sarasota, Florida 34232941.309.1200www.edcsarasotacounty.com

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Contact:Planning and Development ServicesGreg Yantorno, Acting Building [email protected]

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Contact:Planning and Development ServicesGreg Yantorno, Acting Building [email protected]

Business expansion and/or Relocation

Job creation incentives – tax Refunds/credits/exemptionsFlorida Qualified Target Industries Tax RefundThis program is available to qualified target industry businesses with average wages exceeding 115% of the state average (as per section 288.106 Florida Statutes) which create new high wage employment opportunities in Florida either by existing business expansion within the state, or by relocating a new business into the state. Coordinated with the Economic Development Corporation and Enterprise Florida.

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capital investment tax creditUsed to attract grow capital-intensive industries in Florida, the Capital Investment Tax Credit (CITC) is an annual credit, provided for up to twenty years, against the corporate income tax. This program is available to companies with designated high impact portions of Life Sciences, Financial Services, Information Technology, Transportation Equipment Manufacturing and Semiconductors. Coordinated with the Economic Development Corporation.

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Qualified defense contractor tax Refund (Qdc)This program is a tool to preserve and grow Florida’s high technology employment base – giving Florida a competitive edge as defense or homeland security contractors acquire new contracts or subcontracts, consolidate contracts or subcontracts, or convert contracts to commercial production. Pre-approved projects receive tax refunds of up to $5,000 per job created or saved in Florida. If approved, an applicant may receive refunds on various taxes it pays related to the project.

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entertainment industry tax exemptionThis program provides a myriad of tax exemptions on activities relatedto the film and entertainment industry.

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Contact: Economic Development Corporation of Sarasota County Live Oak Corporate Center 2601 Cattleman Rd. Suite 102 Sarasota, Florida 34232 941.309.1200 www.edcsarasotacounty.com

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Contact: Sarasota County Film & Entertainment Office 2601 Cattleman Rd. Suite 102 Sarasota, Florida 34232 941.309.1200 www.filmsarasota.com

targeted Jobs tax credits (tJtc)This program allows a credit against the federal incomes tax to employers who hire pre-qualified individuals from certain targeted groups. The maximum credit per year is 40 percent of the first $6,000 in qualified wages ($2,400) for the first year of employment. There is a minimum employment period of 90 days or 120 hours of paid employment (whichever occurs first) before the employer can claim credit. Employees must be pre-qualified prior to hiring by the local Suncoast Workforce Board. (Employment and Training Center).

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Fast track economic stimulus for small BusinessEffective July 1, 2009, the State of Florida established the New Markets Development Program which provides tax credits for making qualified equity investments in small businesses. Tax credits may be subject to annual redemption limitations, and/or carryover provisions.

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Brownfield Redevelopment BonusEncourages the development of abandoned, idled or underused industrial and commercial sites where expansion or development is complicated by actual or perceived environmental contamination. The Bonus is designed to work with QTI projects, paying a bonus of $2,500 per job over and above the QTI award. The program also provides a $2,500 per job award for non-QTI projects that meet job creation and capital investment requirements.

JoB cReation incentives – GRants

High impact performance incentive Grant (Hipi)This incentive is a negotiated grant used to attract and grow major high impact facilities in Florida. It is available to companies with designated high impact portions of Life Sciences, Financial Services, Transportation Equipment Manufacturing and Semiconductors. Applicants must be pre-approved by the Governor’s Office of Tourism, Trade and Economic Development (OTTED) working in cooperation with the Economic Development Corporation.

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Contact: Suncoast Workforce Board 3660 North Washington Boulevard Sarasota, Florida 34234 941.368.4200 www.jobsetc.org

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economic development transportation Fund (Road Fund)Grant to local government to alleviate a transportation impediment that adversely impacts a specific company’s location or expansion decision. The elimination of the problem must serve as an inducement for a specific company’s location, retention, or expansion project in Florida and create or retain job opportunities for Floridians. This program is available to projects that facilitate economic development by eradicating location-specific transportation problems on behalf of a specific eligible company.

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economic development incentive programSarasota County has established an Economic Development Incentive Program that is used to help retain existing businesses and assist those who want to expand and to help attract new businesses that are considering relocating to Sarasota County. Companies that are interested in requesting financial assistance from Sarasota County in order to complete their expansion or relocation plans are encouraged to contact the Sarasota County Economic Development Corporation for more information.

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Minority convention GrantNon-profit corporations and other organizations proposing activities or promotional programs designed to attract national conventions or conferences involving minorities may qualify for grants based upon the expected economic benefit of the event on the local area.

Fee MitiGation seRvices

Road impact Fee MitigationRoad Impact Fee Mitigation Program allows the County to mitigate up to 100% of the road impact fees (short term costs, typically paid before a building permit or certificate of occupancy is issued), designed to assist businesses that will benefit the local economy. A formal application is required and final approval of the Sarasota County Commission is required.

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Contact: Economic Development Corporation of Sarasota County

Live Oak Corporate Center2601 Cattleman Rd. Suite 102Sarasota, Florida 34232941.309.1200www.edcsarasotacounty.com

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Contact:Sarasota Convention and Visitors Bureau701 N Tamiami TrailSarasota, Florida 34236941.957.1877www.sarasotafl.org


affordable Housing impact Fee Mitigation Purchasers of affordable housing are eligible to receive a loan for the amount of their County and educational impact and capacity fees subject to the availability of funds. The loan is 0% interest and there are no monthly payments until the property is sold, transferred or no longer occupied by the borrower for 30 years, whichever is first.

FinancinG pRoGRaMs

Recovery Zone Facility BondsLow rate, tax-exempt capital financing is available on a limited basis to for-profit organizations. Some factors of eligibility include Economic Development Impact, Financial Feasibility, Risk, Security, and Manner of Sale. A formal application is required, and final approval of the Sarasota County Commission is required. Applicant is responsible for an application fee, and the consulting fees of the County’s Financial Advisor and Bond Counsel.

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industrial development Revenue BondsLow rate, tax-exempt capital financing is available to non-profit 501(c)(3) corporations and manufacturing companies. Some factors of eligibility include Community Need, Financial Feasibility, Risk, Security, and Manner of Sale. A formal application is required, and final approval of the Sarasota County Commission is required. Applicant is responsible for an application fee, and the consulting fees of the County’s Financial Advisor and Bond Counsel.

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Business Funding ResourcesBusiness opportunities in the Sarasota area are abundant and there is a large availability of financial resources to fund business ventures. A number of financial resources are available for the establishment or expansion of business ventures in the area. Programs available include:• Angel Capital • Bank Financing • Business Incubators/Consortiums • Finance Companies• Import/Export Financing • Investment Banks• Public Offerings • Venture Capital• Receivable Financing Factoring • Grants• Leasing

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Contact:Office of Housing and Community DevelopmentDon Hadsell, [email protected]


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Guaranty loan program Loan guaranty program available to start-up and existing businesses through the U.S. Small Business Administration. Up to 85% for loans under $150,000, and up to 75% for loans over $150,000. Eligible for-profit businesses must meet certain size requirements set by the SBA, and all projects will be considered except speculation, gambling, illegal activities, multilevel marketing, loan packaging and lending investments.

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economic Gardening program Sarasota County’s Economic Gardening program focuses on offering services to stimulate growth in “second-stage” companies. To qualify as second stage, a company must have between 10 and 50 employees, generate annual sales of $1 million to $25 million, and have increased sales and employment during three of the last five years. The EDC and its partners, including the Greater Sarasota Chamber of Commerce, are providing access to specific services: strategic analysis, peer-to-peer networking, network mapping, market research and mentoring by third-stage CEOs, to name a few.

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export Guaranty loan program Loan guarantees available to small and medium businesses to assist with their export sales, particularly Export / Import Bank working capital guarantees, and credit and political risk insurance policies. Qualifying businesses must have less than 250 employees and net worth less than $6,000,000.

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Fisheries Finance programDirect government loans are available to the fishing and aquaculture industries from the U.S. Department of Commerce for financing, refinancing or construction of certain projects in these industries.

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Black Business investment BoardCommercial businesses comprised of at least 51% ownership by black Americans can apply for loans and loan guarantees. BBIB offices are located throughout Florida.

WoRkeR tRaininG pRoGRaMs

employed Worker training GrantThis program is administered by Jobs, ETC and provides short-term training to upgrade skills for employed workers in Manatee and Sarasota counties. The program coordinator meets with the company to assess training needs. In most cases, training can be customized, and employees can receive training on-site or at a local training institute.

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incumbent Worker training programFlorida businesses in existence for at least one year needing upgrades to worker skills may qualify for reimbursement grants for pre-approved direct training related costs. Priorities are given to businesses with 25 employees or less and certain targeted industries.

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Quick Response training programNew and existing businesses may qualify for grant funding for customized, entry-level skills training for new employees. Qualifying jobs are those that support the production of exportable goods. Special consideration is given to those businesses that locate in distressed urban and rural locations, Brownfield areas, and Enterprise Zones.

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coMMunity RedevelopMent aReas

cRa economic development incentivesStorefront Improvement Program (Englewood CRA)Encourages owners of existing business properties to rehabilitate, preserve or alter in a manner that preserves, provides or enhances the portions and elements that are significant to Englewood’s history and cultural values. The CRA will provide assistance in the form of a match to owners or long-term leaseholders for exterior improvements to the commercial buildings or property located within the CRA. The assistance is in the form of a zero percent interest rate loan for up to a maximum $15,000 or ½ the total approved Storefront Improvements, whichever is less.

CITy OF SARASOTA

saRasota enteRpRise Zone

enterprise Zone incentive programsJobs Tax Credit (Sales Tax): Urban Enterprise ZonesAllows a business located within an Urban Enterprise Zone to take a sales and use tax credit for 20 or 30 percent of wages paid to new employees who reside within an enterprise zone. To be eligible, a business must create at least one new job. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Jobs Credit.

Jobs Tax Credit (Income Tax): Urban Enterprise ZonesAllows a business located within an Urban Enterprise Zone to take a corporate income tax credit for 20 or 30 percent of wages paid to new employees who reside within an enterprise zone. The Corporate Tax Credit cannot be used in conjunction with the Sales Tax Credit.

Sales Tax Refund for Business Equipment & Machinery A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in an Enterprise Zone for at least 3 years.

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Contact:Sarasota County Neighborhood ServicesJane H. Grogg, [email protected]

Contact:City of SarasotaNeighborhood and Development Services Dept.Dru Jones, Economic Development Coordinator1782 Dr. Martin Luther King Jr. WaySarasota, Florida, 34234941. 365.2200, ext. 3222www.floridaenterprisezones.com

Property Tax CreditNew or expanded businesses located within an enterprise zone are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property.

Sales Tax Refund for Building MaterialsA refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in an Enterprise Zone.

Sales Tax Exemption for Electrical EnergyA 50% state and municipal sales tax exemption is available to qualified businesses located within an Enterprise Zone on the purchase of electrical energy by at least 50%.

Community Contribution Tax CreditAllows businesses a 50% credit on Florida corporate income tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in an enterprise zone to be eligible for this credit.

Property Tax Exemption for Childcare FacilitiesProvides an exemption from ad valorem property tax for licensed childcare facilities operating in areas designated as enterprise zones.

Impact Fee WaiverFees are waived for all Sarasota County impact fees.

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city of sarasota community Redevelopment areas The City created a CRA for the downtown in 1986 and instituted Tax Increment Financing for this area. Since inception, the City has adopted two master plans for the CRA area with the most recent being the Downtown Master Plan 2020 that was adopted in 2001. TIF has been used to fund numerous improvements in the downtown including infrastructure, amenities such as parks and streetscapes, street lighting, and creation of on-street parking spaces. The City investments have been an incentive for businesses to locate or remain in the downtown. A sample of businesses that have located in the CRA include Whole Foods, the Ritz-Carlton, Sarasota Herald-Tribune, and Hollywood 20 Theaters.

In 2008, the CRA was expanded to include that portion of the Newtown community located within the City of Sarasota. A redevelopment plan for Newtown that had been created in 2002 was adopted as the Community Redevelopment Area Plan for the expanded area. Further, an Economic Development Plan for the Dr. Martin Luther King, Jr. Way corridor was created in 2006. The combination of these documents should prove to improve economic development potential in the Newtown area.

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Contact:Susan DoddAssistant to the Finance DirectorCity of Sarasota, FloridaP.O. Box 1058Sarasota, Florida 34230941.954.4136 or 941.365.2200 ext [email protected]

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Downtown Sarasota CRA Contact:Department of Neighborhood and Development ServicesSteve Stancel, Chief Planner1565 First StreetSarasota, Florida 34234941.954.2200, ext. [email protected]

Newtown CRA Contact:Department of Neighborhood and Development ServicesLorna Alston, General Manager1782 Dr. Martin Luther King Jr. WaySarasota, Florida, 34234941.373.7764 365.2200 ext. [email protected]

The Sarasota City Commission serves as the Community Redevelopment Agency. Private developers and organizations may apply to the CRA for financial assistance in order to use TIF funds.

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Rapid Response permitting servicesThe City Commission recently approved the COSMOS (City Of Sarasota Mandates Outstanding Service) fast-track permitting system in conjunction with the Sarasota County EDC. Existing businesses that wish to expand or relocate, or new businesses that wish to make the City of Sarasota their home are eligible for COSMOS provided they meet the criteria for fast-track permitting established by the EDC and reaffirmed by the City of Sarasota. COSMOS projects will be given priority over any other projects currently under review by the City of Sarasota, with a review time not to exceed 25 working days. However, this timeline does not include land use approvals that require public hearings, such as variances, rezoning, conditional uses, and site plan review. When any of these processes are required by the comprehensive plan or zoning code, staff review will be expedited in order to schedule the public hearing at the earliest possible date. During construction, COSMOS projects will continue to be on an accelerated timeline. The Facilitator will serve as an ombudsman on behalf of the applicant, and the Department of Neighborhood and Development Services will expedite inspections, re-inspections, and the issuance of occupancy permits.

The City expedites all affordable and “green” building permits. As of March 2010, all building permits are being expedited with an average approval process of about 10 days.

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newtown storefront Grant programThe City has allocated $736,000 in Community Development Block Grant funds to assist businesses in Newtown to improve their storefront façades. The grant funding is targeted to businesses on the Dr. Martin Luther King Jr. Way corridor where economic redevelopment efforts are being emphasized, as well as the Newtown CRA Area. To date, six projects have been completed and eight are in progress.

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Contact:Department of Neighborhood and Development ServicesGretchen Schneider, General Manager1565 First StreetSarasota, Florida 34234941.954.2200, ext. [email protected]

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Contact:Department of Neighborhood and Development ServicesLorna Alston, General Manager1782 Dr. Martin Luther King Jr. WaySarasota, Florida, 34234941.365.2200 ext. [email protected]

Florida Brownfield Redevelopment programThe City encourages the redevelopment of sites that might be complicated by actual or perceived environmental contamination. By City Commission resolution, a redevelopment site can be designated as a brownfield and would qualify for the following state incentives: bonus refund for job creation, up to $2,500 per job; loan guarantees for primary lenders – up to 50% on all sites, up to 75% when end use is affordable housing; sales tax credit on building materials. Developer might qualify for other benefits administrated by Enterprise Florida Inc. and other federal programs.

The City Commission has designated the city-owned Marion Anderson Place site in Newtown as a brownfield. Staff is currently working toward developing a Brownfield Site Rehabilitation Agreement (BSRA) with the Florida Department of Environmental Protection in order to move forward with clean-up and development of that particular site.

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Business assistanceThe North Sarasota Redevelopment Office coordinates the Community Entrepreneur Opportunity (CEO) Business-training Program. The CEO program is a 12-week course that teaches the basic business skills needed to start or improve a business and the steps to avoid common mistakes. The training elements follow the business plan as the model, including financials, sales and marketing, and time management, in an interactive classroom setting. Continuing technical assistance is provided beyond the CEO program in addition to initiative underway to create an enhanced business assistance program as part of a business incubator.

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HuBZoneA HUBZone is a United States Small Business Administration (SBA) Historically Underutilized Business Zones (HUBZones). The HUBZone Program stimulates economic development and creates jobs in urban and rural communities by providing Federal contracting preferences to small businesses. These preferences go to small businesses that obtain HUBZone certification in part by employing at least 35% of its employees who reside in a HUBZone. The company must be owned and controlled at least 51% by U.S. citizens and must also maintain a “principal office” in the HUBZone. http://www.sba.gov/hubzone

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Contact:Department of Neighborhood and Development ServicesLorna Alston, General Manager1782 Dr. Martin Luther King Jr. WaySarasota, Florida 34234941.365.2200 ext. [email protected]

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Contact:Department of Neighborhood and Development ServicesDru Jones, Economic Development Coordinator1782 Dr. Martin Luther King Jr. WaySarasota, Florida, 34234941.365.2200 ext. [email protected]

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Department of Neighborhood and Development Services Contact:Dru Jones, Economic Development Coordinator1782 Dr. Martin Luther King Jr. WaySarasota, Florida 34234941.365.2200 ext. [email protected]

USF Small Business Development Center Contact:Charlene Bostic, Procurement Technical AssistanceTampa Port Authority1101 Channelside Drive, Ste. 210Tampa, Florida 33602813.905.5800www.sbdctampabay.com

CITy OF NORTh PORT

city oF noRtH poRt incentives

Fee Mitigation, discount and/or Waiver servicesPermit Fees: Waiver/ReductionMany cities have provided waivers or a reduction in permit fees to help mitigate the front-end costs for new businesses or new developments. This incentive is particularly helpful to small businesses and small scale development projects.

Land Donation/DiscountProviding free or discounted land can be a major determinant in securing a highly desired development project that will provide high wage, permanent jobs; sustainable economic development; and serve as a catalyst to attract spin-off development and investment in the community.

Utility Deposit Fees: Reduction/DeferralReduction or deferral of utility fees has the same impact as permit fee waivers or reductions and help to mitigate front-end costs for new businesses and new developments.

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public infrastructure improvementsPublic Infrastructure ImprovementsThese can include a variety of improvements to enhance business/development projects including, sidewalk construction; streetscape and streetlights; installation of sewer and water lines; roadway paving and redesign; accommodation for public transit; etc.

Façade Grant ProgramProvide funds to subsidize the cost of improvements to building facades. Many programs of this type provide grants up to a certain amount to businesses/property owners who update and improve the fronts of their buildings. The purpose of a Façade Grant Program would be to enhance the aesthetics of a business district/corridor by eliminating blighted or deteriorated store fronts; increase the values of commercial properties; and increase customer traffic in the area.

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Contact:City of North Port Economic Development DivisionAllan Lane, Economic Development Manager4970 City Hall BoulevardNorth Port, Florida [email protected]

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Financing programsRevolving Loan FundRevolving loan funds are often established to provide low interest financing to small businesses. These loan programs provide favorable interest rates to borrowers and often have requirements that are much more flexible than conventional lending sources.

Business Improvement DistrictsMembers of a business improvement district tax themselves to fund area improvements and marketing efforts above what local governments can provide.

COuNTy-WIdE INCENTIVESeconoMic developMentad valoReM tax exeMption

Job creation incentives – tax Refunds/credits/exemptionsAvailable in unincorporated Sarasota County, the cities of Sarasota, Venice and North Port.The economic development ad valorem tax exemption (EDAVTE) program is designed to encourage new businesses to relocate to Sarasota County. In addition, it serves as a catalyst for existing businesses to expand creating new job opportunities for residents within the County and the cities of Sarasota, Venice and North Port. This program authorizes the County, and those respective Cities’ Commissions, to grant qualifying businesses a property tax exemption of up to 100 percent for up to 10 years, on both real and tangible personal property.

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Good Ideas Don’t Just Happen.

“Our strong

partnership with

Sarasota County,

has enabled

Benderson to

conduct project development in

a supportive business environment.

International-class rowing regattas

at the Nathan Benderson Park

are great marketing and business

opportunities, attracting more than

30,000 spectators and participants

to our community this year alone.

Our concept collaboration with

Sarasota County positioned us

for additional growth and made

economic development sense

– a true win-win for everyone.”

- Paul Blackketter Benderson Project Manager

They’re Developed.Sarasota County, located on the Southwest Florida coast, offers an unparalleled quality of life, with world-ranked beaches and a world-renowned cultural environment. Sarasota County also offers a business-friendly and supportive atmosphere for development – and over the past several years has executed more than $160 million in development agreements.

Sarasota County knows what a business needs for an effective partnership. Sarasota County provided assistance for every phase of development of Nathan Benderson Park, a 600-acre ideal setting for a 2,000-meter, competitive rowing facility. The park is expected to become an Olympic training site and the top collegiate rowing location in North America.

Our business partnerships include Benderson Development’s centerpiece, University Town Center. The project offers two-million square feet of urban mixed-use development, with retail, hotels and restaurants adjacent to the park rowing venue.

Tangible benefits of a Sarasota County collaboration: • Infrastructure & Improvements • Facilitation of Permitting • Community Assets • Water Resource Planning • Federal Stimulus Funding • Workforce Development

If you want a results-oriented public/private partnership, contact Jeff Maultsby, Business and Economic Development Manager of Sarasota County at 941-861-5257.

Sarasota County Government1660 Ringling Blvd.Sarasota, FL 34236

941-861-5000www.scgov.net

2601 Cattlemen RoadSuite 102

Sarasota, FL 34232941-309-1200

edcSarasotaCounty.com

Sarasota County Florida... For Business. For Pleasure. For Life.

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Incentive - Sarasota County Government