Economic Incentives

Florida means business. The state in cooperation with the county entities and the City of Oldsmar offer a variety of incentives to qualifying businesses. The purpose of the incentives is not only to attract business to the area but also to help our existing business partners expand and prosper. Most incentives are tax-based and performance driven. The three most commonly used programs are:

  • Economic Development Transportation Road Fund. A portion of the state’s road building money is set aside to correct transportation problems that inhibit businesses from expanding or relocating a facility to Florida. Up to $2,000,000 can be requested by a community. Benefits:
    • Generates Jobs
    • Improves Local Infrastructure
    • Easy To Use
    • Quick

  • Qualified Target Industry (QTI) Tax Refund Program. This performance-based program returns a portion of the taxes paid by businesses after the company meets agreed job creation and wage commitments. This is done in partnership with the local community. The company can receive up to $3,000 corporate tax refunds for each job created. Benefits:
    • Creates Jobs
    • Locally driven
    • Performance-based

  • Quick Response Training (QRT) Program. The State reimburses qualified businesses for a portion of the costs of training new employees who work in an expanded or relocated business. Benefits:
    • Aid’s company success
    • Generates skilled workforce
    • Customer driven

If you are looking to locate or relocate to the Upper Tampa Bay or seeking some assistance in expanding your current footprint in the community, please let us help you do that in the most cost beneficial manner. Oldsmar is a business friendly community. For more information e-mail Jerry Peruzzi or call at 813-855-4233.