Incentives

 

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Economic Development Business Incentives


Economic Development Ad Valorem Tax Exemption (EDATE): This program is a local option tax incentive for new or expanding businesses, which may be granted at the sole discretion of the City Council, if certain criteria are met.  The abatement will not exceed 75% of the City’s portion of the ad valorem tax.
 

Impact Fee Reduction Program: This program allows businesses to reduce the City of Milton Water and Sewer Impact Fee. The number of jobs created and the increase in property valuation determine the percentage reduction.
 

Impact Fee Financing Program: The program provides financing opportunities when the total of City impact fees reaches $50,000.00. The program requires the business to pay 20% of the impact fee upon application with the balance financed over a period of up to five years at a minimum of $700.00 per month until paid in full.
 

City of Milton Commercial Façade Program (CFP): Matching grants to improve the exterior of commercial buildings.
 

Stormwater Fee Credits: Stormwater fee credits of up to fifty percent (50%) may be given to newly developed properties demonstrating stormwater control and management facilities which generate less volume of runoff then currently required and apply Best Management Practices (BMPs) to improve water quality.
 

Capital Investment Tax Credit (CITC): Annual credit against Florida corporate income taxes for certain approved industry sectors (Financial Services, Biomedical Technology, Silicon Technology, Transportation Equipment Manufacturing).

Economic Development Transportation Fund (EDTF): This program is funded by the state legislature as an inducement for the location, expansion, or retention of qualified business and industrial projects to Florida. Application is made by the city/county to the state of Florida to fund the cost (up to $2,000,000) of transportation projects (access roads, road widening, grade crossings, traffic signalization, etc.) necessary for the location, expansion, or retention of a qualified business or industry in Florida.


High Impact Performance Incentive Grant (HIPI): The High Impact Performance Incentive is a negotiated grant used to attract and grow major high impact facilities in Florida.


Incumbent Worker Training Grant (IWT): The Incumbent Worker Training Program provides grant funding for customized training for existing for-profit businesses.


Permit Streamlining Initiatives: Companies with extensive permitting and regulatory needs can benefit from streamlining procedures. Streamlining is achieved through commitment among the state's regulatory agencies and local governments to provide quicker, less costly, and more predictable permit approvals to significant economic development projects without reducing environmental standards.


Qualified Target Industry (QTI): The Qualified Target Industry Tax Refund incentive is available for companies that create high wage jobs in targeted high value-added industries.


 Qualified Defense Contractor Tax Refund (QDC): The Florida Qualified Defense Contractor program is provided to encourage the location and expansion of defense industries in the state. 


Quick Response Training Grant (QRT): An inducement program for job creation and retention. In addition to actual employee training, the grant may cover the cost of acquiring specialized equipment, retaining an instructor, and provision of a training facility (if required) necessary for the conduct of the training program.


 

 

Through the Santa Rosa County Economic Development Organization, the following incentives are available to businesses within the Milton City Limits:  

 

Land Pricing Guidelines: Pricing Guidelines are in place to provide Santa Rosa Economic Development with a rational, non-arbitrary, non-discriminating basis for determining a cost per acre for industrial publicly owned property within Santa Rosa County. The point system represents the discount from the base price of publicly owned industrial property as it relates to the economic impact the proposed business will have on the area.
 

Ad Valorem / Property Tax Rebates: The Economic Development Ad Valorem Tax Exemption (EDATE) is a local option tax incentive for new or expanding businesses, which may be granted at the sole discretion of Santa Rosa County Commissioners.
 

Capital Investment Tax Credit, (CITC): Annual credit against Florida corporate income taxes for certain approved industry sectors (Financial Services, Biomedical Technology, Silicon Technology, Transportation Equipment Manufacturing).
 

Economic Development Transportation Fund (EDTF): This program is funded by the state legislature as an inducement for the location, expansion, or retention of qualified business and industrial projects to Florida. Application is made by the city/county to the state of Florida to fund the cost (up to $2,000,000) of transportation projects (access roads, road widening, grade crossings, traffic signalization, etc.) necessary for the location, expansion, or retention of a qualified business or industry in Florida.
 

High Impact Performance Incentive Grant (HIPI): The High Impact Performance Incentive is a negotiated grant used to attract and grow major high impact facilities in Florida.
 

Incumbent Worker Training Grant (IWT): The Incumbent Worker Training Program provides grant funding for customized training for existing for-profit businesses.

Qualified Target Industry (QTI): The Qualified Target Industry Tax Refund incentive is available for companies that create high wage jobs in targeted high value-added industries.
 

Quick Response Training Grant (QRT): An inducement program for job creation and retention. In addition to actual employee training, the grant may cover the cost of acquiring specialized equipment, retaining an instructor, and provision of a training facility (if required) necessary for the conduct of the training program.
 

Sales and Use Tax Exemption on Electricity and Steam: Charges for electricity used directly and exclusively at a fixed location to operate machinery and equipment that is used to manufacture, process, compound, or produce items of tangible personal property for sale, or to operate pollution control equipment, recycling equipment, maintenance equipment, or monitoring or control equipment used in such operations, may be exempt from the sales tax.
 

Sales and Use Tax Exemption on Machinery and Equipment: Tax exemption award made to businesses to aid new and expanding businesses that use machinery and equipment at a particular location to manufacture, process, compound, or produce tangible personal property for sale or for exclusive use in spaceport activities.
 

Florida Vets Business Training Grant: The Veterans Florida Business Training Grant Program, is designed to increase the competitiveness of Florida businesses in the global economy by providing a trained, skilled workforce from the pool of Florida’s military veteran population. The business benefits of hiring military veterans are well documented, and the economic impact of the veteran workforce continues to rise. The Veterans Florida Business Training Grant program provides grant funding for customized, skills-based curriculum development and training, through partial reimbursement, to businesses in Florida’s targeted, high-growth and high-wage industries (qualified targeted industries). These are high-skill industries producing goods or services and wages generally 125 percent above state or local wages.