Enterprise Zone

The Florida Enterprise Zone Program offers certain tax benefits to businesses located within the designated enterprise zones.  In addition, local governments may also offer their own incentives.

The Indian River County/City of Vero Beach Enterprise Zone encompasses all of the Vero Beach Municipal Airport and the adjacent Gifford community.  To view the boundaries of the Indian River County/City of Vero Beach Enterprise Zone, please click on the "boundary" map, below left.  To see where the Zone is in relation to the entire county, please click on the "county" map, below right.
Enterprise Zone Map - boundary                                      Enterprise Zone map - county             

The Chamber's Economic Development Director serves as the Enterprise Zone Coordinator for the local program.  Please contact our office by calling 772-567-3491 x121 or email at directored@indianriverchamber.com.

Jobs Tax Credit on Florida Sales Tax
Allows a business located within an 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 on Sales Tax application form

Jobs Tax Credit on Corporate Income Tax
Allows a business located within an Enterprise Zone to take a corporate income tax credit for 15 or 20 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.
Jobs Tax Credit on Corporate Tax application form

Business Equipment Sales Tax Refund
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.
Business Equipment Sales Tax refund application form

Building Materials Sales Tax Refund
A refund is available for sales taxes paid on the purchase of building materials used in new construction or renovations of residential, commercial or industrial property in an Enterprise Zone.
The refund can be calculated one of two ways:  using actual costs and saving your receipts; or using the before and after property value of the project.  As property values have severely declined, it is highly recommended that property owners use actual costs, saving all receipts showing sales taxes paid and submitting them with your refund request.
Building Materials Sales Tax refund application form

DR-26 - Application for Sales Tax Refund
A business applying for an Enterprise Zone refund will complete this form and submit it to the Florida Department of Revenue along with their request for Building Materials Sales Tax Refund or their Business Equipment Sales Tax Refund.

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

Municipal Utility Tax Exemption on Electricity
Business customers of Vero Beach Utilities that are located in the Enterprise Zone may be eligible for a 50% exemption on the municipal tax on electricity.  A business must meet the following eligibility criteria:
       Business located in an Enterprise Zone, and is in a:
          * newly occupied structure (no previous electrical service); or
          * renovated structure (no electrical service for three months); or
          * has received a building materials sales tax refund
Application for the Exemption of Electrical Energy Used in an Enterprise Zone 

Community Contribution Tax Credit Program: Rural and Urban Enterprise Zones
Allows 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. 
Community Contribution Program - sponsor application
 

Indian River County/City of Vero Beach Enterprise Zone Annual Report 2011/2012

Note: You will need Adobe Acrobat Reader to view and print forms. To download the free Adobe software, click on the link below.