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Business Incentives

The Economic Development Group has assisted numerous companies obtain millions of dollars in state and local incentives ranging from grants providing needed road access to training highly skilled maintenance mechanics in programmable logic control. Our toolbox includes all of the incentives provided by the State of Florida and by local communities. We are also able, on a case-by-case basis, to provide incentives to qualified companies from our own resources.

Most of the incentives are based on companies paying their employees 115 percent of the average annual wage and have job creation requirements. The average annual wage in Polk County is $34,694 or $16.68 per hour. 115 percent of the average annual wage is $39,898 or $19.18 per hour.

A wide variety of incentives are offered by the state of Florida, and the Key Incentives include:

Qualified Target Industry Tax Refund Program (QTI)

The QTI Tax Refund is a tool available to Florida communities to encourage quality job growth in targeted high value-added businesses. Pre-approved applicants who create jobs in Florida receive tax refunds of $3,000 per net new full-time equivalent job created. For businesses paying 150 percent of the average annual wage, add $1,000 per job; for businesses paying 200 percent of the average annual wage, add $2,000 per job. New or expanding businesses in selected targeted industries or corporate headquarters are eligible.

Quick Response Training Grant (QRT)

The Quick Response Training program provides grand funding for customized training to new or expanding businesses. The program is flexible and structured to respond quickly to meet business training objectives. A local training provider – community college, area technical center or university – is selected and available to assist in the application process and program development or development or delivery. If the business has a training program in place, a state training provider will supervise and manage the training program and serve as the fiscal agent for the grant funds. Reimbursable training expenses include: instructors/trainers salaries, curriculum development, textbooks/manuals and materials/supplies.

Economic Development Transportation Fund (EDTF)

The EDTF is known as the “road fund” and is used to improve transportation systems to help companies commit to growing in Central Florida’s Polk County.

Electricity and Steam Tax Exemption

Machinery and Equipment Tax Exemption

For more information on incentives call our office, CFDC (863) 534-4370.

Testimonials
"The county's business environment and the ongoing support of the CFDC have helped us achieve [our] goal for many years and we look forward to our continued partnership."
- Charles Matthews, VP Operations, Florida's Natural Growers
"We initially targeted Polk County because of its obvious logistical advantages, but we were immediately impressed by the tremendous support and cooperation we received from the CFDC. A building can be built anywhere, but what makes a project...successful is a cooperative relationship with community leaders and the availability of a dedicated and reliable workforce."
- David Behm, VP, Aldi Inc.
"From a personal and business perspective, being new to Polk County has been a very positive experience. We are excited to live and work in Polk County and look forward to what the future has to bring in terms of growth and opportunities."
- Stacy Hackworth, Facility Manager, Ferguson
"We found the economic development atmosphere and support from Polk County to be a true asset in our decision to locate our new, state-of-the-art facility in Lakeland. When you are building the most advanced manufacturing facility your industry has ever seen, you have to have confidence in the long-term commitment of the community. We found just that in Polk County and are pleased to be one of their newest business neighbors and partners."
- Ross Dalton, President, GTECH Printing Corporation
"In 1962, State Farm opened its doors in Winter Haven, which is now our Florida headquarters. We are so proud to be a part of this great Polk County community. Polk County provides State Farm with a workforce that brings diverse talents and experiences to provide the quality service our State Farm customers expect and deserve."
- Jim Thompson, Sr. Vice President, State Farm Insurance