City of Port St. Lucie
State of Florida
Qualified Targeted Industry Tax Refund
The Qualified Targeted Industry Tax Refund incentive is available for companies that create high wage jobs in targeted high value-added industries. This incentive includes refunds on corporate income, sales, ad valorem, intangible personal property, insurance premium, and certain other taxes. Pre-approved applicants who create jobs in Florida receive tax refunds of $3,000 per net new Florida full-time equivalent job created.
Capital Investment Tax Credit
The Capital Investment Tax Credit is an annual credit, provided for up to twenty 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 also create a minimum of 100 jobs and invest at least $25 million in eligible capital costs. Eligible capital costs include all expenses incurred in the acquisition, construction, installation, and equipping of a project from the beginning of construction to the commencement of operations. The level of investment and the project’s Florida corporate income tax liability for the 20 years following commencement of operations determines the amount of the annual credit.
City of Port St. Lucie
Economic Development Ad Valorem Tax Exemption
Companies that are eligible under Florida’s Qualified Targeted Industries can receive up to 100% of the assessed value of all improvements to real property and tangible personal property for up to ten years for a newly constructed building. Qualified companies that are expanding in an existing building, can receive up to 100% of the assessed value of all added improvements to real property and all personal property acquired for the company’s expansion for up to 10 years.
Expedited Site Plan Review and Fast Track Permitting
Qualified companies are eligible for expedited site plan review and fast track permitting. Our Land Development Team will coordinate with your company to streamline the development review and permitting process to ensure your development is completed on schedule.