Economic development is Suwannee County’s number one priority. That entails a shared commitment to supporting existing and attracting new business development, expanding and diversifying the tax base, and creating jobs in the area. Success in economic development ensures Suwannee County’s long-term financial ability to provide ongoing quality services and infrastructure and preserve the quality of life for its residential and corporate citizens.

We want you to be part of our growing community. We offer several incentives to help you develop, expand, and continue to succeed in your business.

GOVERNMENT INCENTIVES

Concierge Services
Our local government works together to save you time, money, and energy in bringing your business to Suwannee County. Delays in processes don’t benefit anyone, so we make every effort to fast-track your success. We work in tandem with our commissioners and building department to get you up and running quickly and responsibly, increasing the speed to market with our expedited permitting processes.

BUSINESS INCENTIVES

Employment Centers
We’ve established five sites, known as Employment Centers, which are dedicated areas intended for manufacturing, distribution, warehousing, commercial, and other industrial uses. Because the land use is already in place, significant investments have been made to provide water and wastewater utilities therefore increasing your company’s speed to market.

Each site is strategically located to take advantage of interstates, highways, railways, and ports.

Suwannee County Regional Industrial Corridor
West of Live Oak on US Highway 90 at the Interstate 10 interchange is the 500-acre Suwannee County Regional Industrial Corridor (SCRIC). This corridor is an excellent growth opportunity for manufacturing and industrial-size businesses, such as distribution, building component design and manufacturing, biofuels, and cleantech. The infrastructure at the site includes water, wastewater, electrical power, natural gas, fiber, and rail spur from the Florida Gulf and Atlantic mainline.

With continued demand, Suwannee County has continued to expand the SCRIC with the acquisition of an additional 250 acres of county-owned property with the availability of approximately 1,500 additional privately owned acres.

This site puts new developments in the lead for a faster, more efficient process from start to finish.

Community Support
Our community shares values such as taking care of our incredible environment, and we’re looking for businesses that share those values, too. Encouraging a win-win fit is one way we look out for residents and make sure the community fully supports any business that comes here. It also means you’re likely to get along with your neighbors when you do move in.

SUWANNEE COUNTY BUSINESS FINANCIAL INCENTIVES

Local Economic Development Grants
Suwannee County will consider providing economic development grants to stimulate new business growth within the county that meet and/or exceed the objectives of the Suwannee County Board of County Commissioners.  

Suwannee County’s grant program is a point-based system that is applied to individual project criteria. Grant funds may be used for locating a new industry, expanding an existing business, or developing speculative space within the County.

INCENTIVES

High Impact Performance Incentive
A program that awards grants to spur capital investment and job creation. These grants are reserved for major facilities operating in designated high-impact sectors.

Capital Investment Tax Credit
This is for capital-intensive industries operating in a designated high-impact portion of the following sectors in Florida: advanced manufacturing, clean energy, financial services, life sciences, information technology, transportation, semiconductors or a corporate headquarters facility. Annual credit against the corporate income or premium tax liability is provided for up to 20 years. Businesses must make a cumulative investment of at least $25 million and create a minimum of 100 new full-time jobs to receive this credit.

TAX REFUNDS AND CREDITS

Rural Areas of Opportunity Exempt Goods and Services Sales Tax Refund Program
The RAO Exempt Good and Service Sales Tax Refund Program is for eligible businesses or individuals who complete a new construction project in a Rural Area of Opportunity (RAO). Sales tax refunds ($500 min. – $10,000 max.) may be available on the purchase of building materials, rental of tangible personal property, and pest control services used in the new construction.

Rural Jobs Tax Credit
A Rural Jobs Tax Credit is an incentive for eligible businesses located in Suwannee County creating new jobs. The tax credit provides for $1,000 per qualified job and can only be taken against either the Florida Corporate Income Tax or the Florida Sales and Use Tax.

New Market Tax Credit
The New Market Tax Credit is an incentive for privately invested businesses located in distressed communities. The tax credit totals 39% of the original investment amount and is claimed over a period of seven years.  Opportunity zones can be found on the NMTC Policy Map.

TAX EXEMPTIONS

Manufacturing Machinery and Equipment Sales Tax Exemption
This is available to all businesses that conduct their primary operations in specific industry classifications, utilizing industrial machinery and equipment to manufacture, process, compound or create tangible personal property.

WORKFORCE RESOURCES

Work Opportunity Tax Credit Program
This program provides employers with the opportunity to earn a federal tax credit ranging from $1,200 to $9,600 per employee when they hire individuals who qualify as members of specific target groups.

Quick Response Training Programs
Quick Response Training (QRT) is a state-funded program that provides funding to eligible businesses to train their net new, full-time employees. Reimbursable training expenses include salaries for instructors/trainers, curriculum development, textbooks/manuals, and materials and supplies.

Companies can select a local training provider—a community college, area technical center, or university—that will assist in the application process, program development, and delivery. Program instructors can be full- or part-time educators, vendors, or subject matter experts. 

Businesses approved for QRT funding are limited to one grant award per site every two years. Approved training costs are disbursed to the training provider monthly, based on a cost reimbursement and performance method of payment.

Incumbent Worker Training Programs
The Incumbent Worker Training (IWT) grants provide funding for customized training and continuing education of incumbent employees at existing for-profit Florida businesses. 

Grant funding is available for reimbursement of training costs for existing employees. The award amount is based on eligibility and need.

Please contact us to learn more.