Urban Job Tax Credit

TAMPA INCENTIVES:

 UJTC Designated Areas. The Florida Legislature created the Urban Job Tax Credit (UJTC) Program in 1997 to encourage the creation of job opportunities and the economic expansion of new and existing businesses.

Categories of Areas. The areas that qualify for a UJTC designation are ranked in three categories; Tier One, Tier Two, and Tier Three. Every three years the State's Office of Tourism, Trade & Economic Development reviews the ranking of the areas. Each tier has different job creation requirements for existing and new businesses.

Tax Credits. The UJTC Program provides tax credits against corporate income tax or sales and use tax to businesses that are: located within urban areas designated by OTTED; hire a specific number of employees according to the established criteria; and are predominantly engaged in (or headquarters for) a specific list of activities classified by the Standard Industrial Classification (SIC) Code. Businesses must meet the definition specified in the Florida Legislature. The application may be filed at any time. Tax credits are granted on a first come, first served basis until the maximum amount of credit allowable per calendar year has been exhausted.