Indian River County welcomes inquiries from businesses seeking
to relocate. More than one business has come to our area because
the president, CEO, or other officer visited here, recognized
our unique environment, and decided to relocate.
Our ideal climate, wealth of recreational and cultural
opportunities, wide range of housing options, and business
relocation support make the transition a pleasant experience for
everyone. If you have any questions please contact our Economic
Development Director at
directored@indianriverchamber.com
ECONOMIC DEVELOPMENT INCENTIVES
Below is a list of economic development incentives available
to qualified targeted businesses relocating to, or
expanding in, Indian River County:
•
Participation in the
Florida
Qualified Target Industry Tax Refund Program
•
Local Jobs Grant Program
·
Enterprise Zone Program tax benefits for businesses located
within the Zone
•
Impact Fee Financing
•
Utility Deposit Waivers
•
Expedited permitting process
•
Availability of infrastructure with sufficient capacity
(roads, water, sewer)
•
Availability of Industrial Revenue Bonds
•
Availability of job training and training grants through
Indian River
Community College
•
Assistance in acquiring federal or state grants (such as
Community Development Block Grants)
Qualified
Target Industry Tax Refund Program
•
Business can receive a tax refund of up to $5,000 per new job
created, $8,000 if located in the Enterprise Zone.
•
Business must pay an average wage of at least 115% of local
average annual wage.
•
Business must create at least 10 new jobs in any of the state’s
target industries. If an expansion, the expansion
must result in at least
a 10% increase in the business’s employment. The county provides
20% match of the total taxes refunded.
Local Jobs Grant Program
• The
Jobs Grant Program can apply to a company that creates 5 or more
jobs in the county’s target industries.
• The
salary or wage of each employee used to qualify the business for
the jobs grant program must equal at least 100% of the county’s
average annual wage.
•
Amount* of the grant is determined based on the following
criteria:
5-19 employees
= $1,000
per job created
20-49 employees
=
$1,250 per job created
50-99 employees
=
$1,500 per job created
100-149 employees =
$1,750 per job created
150 + employees
= $2,000
per job created
*
Bonuses for hiring county residents, for higher than average
salaries, and for locating in an Enterprise Zone.
Maximum grant to an individual company is $500,000,
except for the additional bonus to a business locating in an
Enterprise Zone. Details of terms and conditions available on
request.
Enterprise Zone Tax Benefits
• Job
Tax Credit on Sales Tax or Corporate Tax for new jobs created in
the Enterprise Zone
• Sales
Tax Refund on building materials purchased for rehabilitation of
real property, and on the purchase of machinery/equipment used
in the Zone
•
Corporate Tax Credit based on increased ad valorem on improved
real property
Impact Fee Financing Program
Allow
financing of county-imposed Impact Fees up to six years for
businesses listed on the county’s target industries list.
Details of terms and conditions available on request.
Waiving
County
Utility
Deposit
The county will guarantee county utility deposits
of up to $10,000 (water and/or sewer) for businesses meeting
eligibility requirements. Details of terms and conditions
available on request.
TESTIMONIALS ABOUT INDIAN RIVER COUNTY
Testimonials from corporate executives will tell you first hand
why Indian River County is an ideal choice when considering a
corporate relocation.
“The natural beauty, relaxed lifestyle and affluent atmosphere
make it a popular alternative to busier vacation
destinations.”
General Manager, Disney’s Vero Beach Resort
“Local people are often surprised to learn that the third
largest privately-owned company in Florida is headquartered
here in Vero Beach. In the high-profile corporate world it is
nice to blend in and become part of the community’s ambience.”
Chief Financial Officer, George E. Warren Corporation
“Recruiting and keeping a skilled workforce like ours is much
easier in a community that offers such a satisfying quality of
life. Also, Indian River County is easy to get in and out of
which is important to us because our distribution and customer
base is worldwide.”
President, The New Piper Aircraft
“I have looked all over Florida the past five years for the
ideal spot to relocate my New Jersey-based test equipment
manufacturing business. When I decided on Vero Beach, the rest
was easy. I quickly found the right location and had no
problem recruiting people.”
President, M. C. Miller Company
“Imagine being a short drive from Florida’s aerospace and
defense center, yet far from the congestion and hectic pace it
creates.”
Vice President of Business Management, XL Vision
MSNBC - video on Vero
Questions? Please contact: directored@indianriverchamber.com |
