TARGETED INDUSTRY INCENTIVES:

The Capital Investment Tax Credit is an annual credit against the project's Florida corporate income tax for up to 20 years. Eligible projects are those in designated, high-impact sectors (currently silicon technology, certain transportation equipment manufacturing, certain information technology, or biomedical technology) that create at least 100 jobs and invest at least $25 million in eligible capital costs. Eligible capital costs include all expenses incurred in the acquisition, construction, installation and equipping of a project from the beginning of construction to the commencement of operations. The level of investment and the project’s Florida corporate income tax liability for the 20 years following commencement of operations determines the amount of the annual credit. Florida’s Corporate Income Tax Rate is 5.5 percent of apportioned taxable income.