Tax Credits

Draken_4

QUALIFIED TARGET INDUSTRY

The Qualified Target Industry (QTI) Tax Refund is a tool available to Florida communities to encourage quality job growth in targeted, high value-added industries. Pre-approved applicants creating jobs in Florida receive refunds on the taxes they pay including corporate income, sales, ad valorem, and certain other taxes.

Eligible applicants pay an average annual wage that is at least 115 percent of the state, metropolitan statistical area (MSA), or the local average wage – a minimum average annual wage of $45,957 ($22.09 per hour) for Polk County. The amount of the refunds is equal to $3,000 per new job created. An additional $1,000 “per job” bonus is available for businesses paying 150 percent of the local or statewide average annual wage ($59,945 for Polk County).

In order to participate, the company must apply to Enterprise Florida prior to making a decision to locate in Florida. The community must provide a resolution from the city or county commission recommending the applicant for the incentive and committing to provide a local match equaling 20 percent of the total tax refund.

QTI overview      Targeted Industry List      2018 Wage Requirements

LAKELAND COMPANIES RECEIVING QUALIFIED TARGET INDUSTRY TAX REFUNDS

Year CompanyJobs CreatedLocal Tax Credit (20%)State Tax Credit (80%)
2004Pepperidge Farm80$86,000$334,000
2005Pepperidge Farm38$22,800$91,200
2005Lockheed Martin100$82,400$329,600
2008WellDyne638$403,800$1,615,200
2009Colorado Boxed Beef44$16,000$144,000
2009QMI/ITW30$18,000$72,000
2009GTECH221$132,600$530,400
2011SteriPack65$39,000$156,000
2012Draken International55$66,000$264,000
2012Sykes38$48,000$192,000
2013DS Services32$25,600$102,400
2013Amazon248$148,800$595,200
2016Publix - Deli Line Expansion41$24,600$98,400
2016DS Service5817,400174,000
2017Publix - Kitchen25$25,000$100,000
2017GEICO500$500,000$2,000,000
2018DHL Supply Chain (IKEA)160$96,000$384,000
2018Digarc33$39,600$158,400
2018Project Sunshine40$24,000$96,000
2018Publix700$700,000$2,800,000
TOTAL3,191$2,565,000$10,434,400

da2004

URBAN JOB

The Urban Job Tax Credit is an incentive for eligible businesses located in a designated urban area to create new jobs. The credit is $500 per qualified job and can be taken against either the Florida Corporate Income Tax or the Florida Sales and Use Tax  Urban Job Tax Credit Overview & Application  +   UJTC MAP

LAKELAND COMPANIES RECEIVING URBAN JOB TAX CREDITS

CompanyJobsGrant
Terrace Hotel55$27,500
Advanced Discount Auto Parts16$8,000
Publix Super Markets21$10,500
Publix Super Markets52$26,000
GC Services660$330,000
Owens Corning31$15,500
Owens Corning64$32,000
Caito Food Service45$22,500
Publix48$24,000
TOTALS992$496,000