Local and state incentives help companies that are locating and doing business in Citrus County.
Brief Overview of Citrus County Economic Development Incentive Programs
Basic Industry Growth Promotion Incentive (BIGI)
A $1,500 per job grant for companies that create at least ten Target Industry jobs with wages meeting or exceeding corresponding Citrus-specific averages for those industries. This program is designed to provide an incentive for export industries important to the local economic base that may not meet QTI wage eligibility.
Advanced Long Term Productivity Strategy
This incentive of 0.75% of actual payroll payable each year for four years is available to State-QTI-enrolled Targeted Industry companies that create at least 25 jobs with aggregate average wages of at least 150% of the County’s average wages.
Participation Florida’s QTI (State Incentives Below)
Provide local funding participation of 20%. QTI is available to companies that create at least 10 Target Industry jobs with wages of at least 115% of the county average. Total state awards range from $3,000 per created job that meets or exceeds specified wage levels to $6,000 per created eligible job based on specific criteria.
Capital Investment for Diversification Incentive (CID)
CID is an inducement grant providing a benefit equivalent of up to 100% of the value of the Building Fees and Impact Fees to encourage Target Industry businesses that may not meet other program requirements. The Grant is paid in four equal annual installments, initial payment occurs one year from Certificate of Occupancy
Qualified Target Industry Tax Refund
The Qualified Target 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.
Capital Investment Tax Credit
The Capital Investment Tax Credit is used to attract and grow capital-intensive industries in Florida. It is an annual credit, provided for up to twenty years, against the corporate income tax.
Quick Response Training
Quick Response Training (QRT) – an employer-driven training program designed to assist new value-added businesses and provide existing Florida businesses the necessary training for expansion.
Incumbent Worker Training
Incumbent Worker Training (IWT) – a program that provides training to currently employed workers to keep Florida’s workforce competitive in a global economy and to retain existing businesses.
CareerSource Citrus Levy Marion is the regional division of the state’s workforce system that serves Citrus, Levy, and Marion counties by connecting employers with well-qualified job candidates.