The Gulf County Economic Development Coalition is established to maintain and grow a strong economic base in Gulf County and consists of professionals who have the authority to make administrative decisions involved in various aspects of a qualified project. As a Rural Area of Opportunity, or RAO, designated by the Florida Legislature, Gulf County is able to access special consideration for projects impacting economic development.
THE FOLLOWING ARE SPECIAL INCENTIVES AVAILABLE IN OUR AREA
QUICK RESPONSE TRAINING GRANT
- Non-degree specialized skills training (for up to 12 months) that is not available at the local level
- $3,500 per new job in a rural county
- Reimbursements can be spread over 24 months.
RURAL JOBS TAX CREDIT
- Up to $1,000 per new job created in a Rural Area of Opportunity (Gulf County)
- Must be taken against Florida Corporate Income Tax or Sales and Use Tax obligations
RURAL INFRASTRUCTURE FUND
- State sales tax exemption (6%) on purchase price of industrial machinery and equipment used in manufacturing or production [FL Statute 212.08(5)b]
INDUSTRIAL SALES TAX BENEFIT MACHINERY AND EQUIPMENT
- State sales tax exemption (6%) on purchase price of industrial machinery and equipment used in manufacturing or production [FL Statute 212.08(5)b]
ELECTRICAL ENERGY SALES TAX BENEFIT
- State sales tax exemption (6%) available on electrical energy used in manufacturing or production of tangible personal property (FL Statute 212.08 (7)ff]
- Examples may be figured for up to 10 years.
BUILDING MATERIALS SALES TAX REFUND
- Sales tax refund of 6% (state portion) on new construction in a rural area of opportunity county
- Minimum of $500 and up to $10,000 refund per one parcel of land
Other Sources of Incentives
Triumph Gulf Coast, Inc. , is a nonprofit corporation organized to oversee the expenditure of 1.5 billion dollars of funds recovered by the Florida for economic damages to the state that resulted from the 2010 Deepwater Horizon oil spill. Gulf County is one of eight counties eligible for these economic funding grants that are outright awards with no payback required if performance measures are met. The grants do contain clawback provisions if targeted performance measures are not achieved. The Grants requires public private partnerships and Gulf County has demonstrated its willingness to be partner.
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