Powerful Incentives on Every Level
Gadsden County is committed to helping companies interested in locating here take advantage of Florida’s pro-business tax policies and competitive cost of doing business. Your business dollars go further given the State’s limited corporate taxes and no personal income tax.
Designated as a Rural Area of Opportunity (RAO) by the State of Florida, Gadsden can provide special considerations to any company developing within the area. Local government can successfully leverage the state’s Rural Infrastructure Fund and federal Community Development Block Grants for projects requiring new infrastructure.
Businesses locating in Gadsden County enjoy several tax benefits on the state level, including:
- No corporate income tax on limited partnerships or subchapter S-corporations
- No corporate franchise tax on capital stock
- No state property taxes
- No property tax on business inventories or on goods-in-transit for up to 180 days
- No sales and use tax on goods manufactured or produced in Florida for export outside the state
- No personal income tax
There are also many incentives available for specific industry sectors such as:
- Aerospace Industry
- Motion picture and music industries
- Aircraft industry
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. Learn more…
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. The exemption also includes parts and accessories for the industrial machinery and equipment if they are purchased before the due date the machinery and equipment are placed in service. Learn more…
Local Ad Valorem / Property Tax Exemption
The Ad Valorem Tax exemption may be granted at the discretion of Gadsden County Commissioners, based on the economic impact that the proposed new business will have on the community and region. The exemption may be granted for up to 100% of the assessed value of all improvements to real property or tangible personal property made by or for the use of a qualifying new business. Qualification is based on the number of new employees brought to the county and their wage in relation to the county average.
Resources for every type of business
Florida’s High Impact Performance Incentive program and Florida Flex workforce training grants are highly effective when combined to attract companies in Florida’s target industries. The value of these programs increases with the level of jobs, wages and capital investment made. Significant capital investment will trigger use of Florida’s Capital Investment Tax Credit program.
For smaller businesses, Florida’s Mainstreet Program offers economic development incentives focused on historic preservation. Main Street Districts in Chattahoochee, Quincy, and Havana are great opportunities for craft breweries, restaurants and shops, professional services, and other small business that thrive in historic areas – providing places people come to find unique shopping and dining experiences.
On the local level, Gadsden County welcomes new businesses with its own set of incentives, including property tax abatements for qualifying industries and comprehensive workforce training and employment services to help companies find workers with the skills they need.
On every level, Gadsden County is a great place to do business. Contact us today – we’re here to help your business take advantage of everything we have to offer!