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Lake County, FL Office of Elevate Lake

Incentives

Lake County’s central location in the state makes it easy to access Florida’s interstates, highways, seaports and international airports. Companies in Lake County are able to service businesses state-wide, nationally and internationally. Lake County offers small town character, down-home southern hospitality, plenty of sunshine and is really close to world renowned theme parks and amenities of Orlando. Lake County is not just an attractive destination for tourists, but the low cost of living and the abundance of recreational activities makes it a great place to live and work.

Lake County, Florida has...
  • NO state personal income tax guaranteed by constitutional provision
  • NO corporate income tax on limited partnerships
  • NO corporate income tax on subchapter S-corporations
  • NO corporate franchise tax on capital stock
  • NO state - level property tax assessed
  • NO property tax on business inventories
  • NO sales tax on manufacturing machinery And equipment
  • NO property tax 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 sales tax On purchases Of raw materials incorporated In a final product For resale, including non-reusable containers Or packaging
  • NO sales / use tax on co-generation of electricity

Lake County’s commitment to economic viability and sustainability is evident through its tireless efforts to foster a pro-business climate, as well as its willingness to invest in companies for the benefit of residents and the local economy. Incentives are available to qualifying relocating and expanding companies on a case-by-case basis with job creation, quality of wages and capital investment being the significant deciding factors. Our most popular incentives are detailed below:

Local Incentive Programs:

Lake County Economic Development Grant

The exemption was implemented to support economic growth and enhance the county’s competitiveness. To be eligible, a business must be in industry categories: manufacturing, corporate headquarters, research and development, global logistics, homeland security/defense, aviation, aerospace, information technology, life sciences, clean technology, financial or other professional services, emerging technologies, or innovative technology including but not limited to new or advanced methods of processing or delivery of goods or services. There are two tiers of eligibility for this program.

Tier 1: Company must hire at least ten (10) new fulltime employees who make at least 115% the average annual wage for Lake County and make a capital investment of at least one million dollars ($1 million) in the establishment, relocation or expansion of their business in Lake County.

Table A: Manufacturing Businesses – Tier 1
YR1 YR2 YR3 YR4 YR5
100% 80% 60% 40% 20%

Table B: All Other Targeted Businesses – Tier 1
YR1 YR2 YR3 YR4 YR5
80% 60% 40% 20% 10%


Tier 2: Company must hire at least twenty-five (25) new fulltime employees who make at least 115% the average annual wage for Lake County and make a capital investment of at least twenty-five million dollars ($25 million) in the establishment, relocation or expansion of their business in Lake County.

Table C: Manufacturing Businesses – Tier 2
YR1 YR2 YR3 YR4 YR5 YR6 YR7 YR8 YR9 YR10
100% 90% 80% 70% 60% 50% 40% 30% 20% 10%

Table D: All Other Targeted Businesses – Tier 2
YR1 YR2 YR3 YR4 YR5 YR6 YR7 YR8 YR9 YR10
80% 70% 60% 50% 40% 30% 25% 20% 15% 10%

Lake County Transportation Impact Fee Waiver-Reimbursement Program
Lake County Board of County Commissioners created the transportation impact fee waiver program for those same targeted industries and businesses that qualify and is granted approval of the Tier 2, Lake County Economic Development Grant.

Regional Incentive Programs:

Duke Energy Economic Development Rider

Economic Development Rider (ED-1): This rider offers discounts over five years on the demand and energy charges for new loads over 500 kW demand when stipulated employment and/or investment conditions are satisfied.

Economic Re-Development Rider (EDR-1): This rider offers discounts over three years on the non-fuel BA-1 tariff charges for new loads over 350 kW demand when stipulated employment and/or investment conditions are satisfied.

State Incentive Programs:

Qualified Target Industry (QTI) Tax Refund

The Qualified Target Industry Tax Refund incentive is available to companies that create high wage jobs in targeted industries. If your business qualifies, you will receive a tax refund against corporate, sales, ad valorem, intangible personal property, insurance premiums and other taxes. Pre-approved companies who create jobs in Florida will receive $3,000 for every full-time job created with higher awards available for companies paying very high wages, operating within a designated high impact sector, or meeting other specific criteria.

Quick Response Training (QRT) Grant

The QRT Grant is available to new or expanding businesses to help fund customized training for new employees. Reimbursable training expenses include: instructors’/trainers’ wages, curriculum development, and textbooks/manuals. Because this program is customized, flexible, and responsive to individual company needs, funds are determined on a case-by-case basis.

For additional State incentives, visit Enterprise Florida’s website: https://www.enterpriseflorida.com/why-florida/business-climate/incentives/

*All incentives require a completed application and must be approved by the Lake County Board of County Commissioners before a building is purchased, lease is signed, or announcement is made, unless negotiated prior to approval. Most incentives are considered "but for" – meaning that but for the fact that these incentives were made available, the applicant company would be locating elsewhere.

**Disclaimer: Elevate Lake and its partners have provided the above incentive information for companies interested in doing business in Central Florida. However, under no circumstances, are these incentives guaranteed. A business must meet the required qualifications to be eligible for incentives.