QUALIFIED TARGET INDUSTRY TAX REFUND (QTI)
(Industry Listing)
Award made to businesses, which serve multi-state and/or international markets and are able to locate in other states.
What? Tax Refund
$3,000 per job ($6,000 in a rural county or enterprise zone)
Increased per job award for high wages.
Why? To encourage quality job growth in targeted high value-added businesses.
How? Be in a target industry. *
Demonstrate that the tax refund is necessary for the business to locate or expand in the community.
Pay an average annual wage that is at least 115% of the state, MSA (metropolitan statistical area), or county wage (whichever is lowest.)
Requirement may be waived for rural or enterprise zone projects in special situations.
Create at least 10 new Florida jobs. If an expansion project, increase employment by at least 10 %.
Requirement may be waived for rural or enterprise zone projects in special situations.
Show that the jobs make a significant economic contribution to the area economy.
Provide a resolution from the city or county commission recommending the applicant for the incentive and committing the community to provide a local match equaling 20% of the total tax refund.
If located in a Rural County, the business may elect to be exempt from the local match and accept a refund equal to 80 percent of the refund for which they would otherwise qualify.
*TARGET INDUSTRIES LIST BY 2-DIGIT SIC
APPAREL AND OTHER TEXTILES (22, 23)
BUSINESS SERVICES (73)
CHEMICALS AND ALLIED PRODUCTS (28)
COMMUNICATIONS (48)
CORPORATE HEADQUARTERS (88)
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT (36)
FABRICATED METAL PRODUCTS (34)
FOOD AND KINDRED PRODUCTS (20)
FURNITURE AND FIXTURES (25)
HOLDING AND OTHER INVESTMENT OFFICES (67)
INDUSTRIAL MACHINERY AND EQUIPMENT (35)
INSTRUMENTS AND RELATED PRODUCTS (38)
INSURANCE CARRIERS (63)
LUMBER AND WOOD PRODUCTS (24)
MISCELLANEOUS MANUFACTURING (38)
MOTION PICTURES - Only motion picture sound
recording and reproducing studios (78)
NON-DEPOSITORY CREDIT INST. (61)
PAPER AND ALLIED PRODUCTS (26)
PRIMARY METAL INDUSTRIES (33)
PRINTING AND PUBLISHING (27)
RESEARCH AND DEVELOPMENT (87)
RUBBER AND MISC. PLASTICS (30)
SECURITY AND COMMODITY BROKERS (62)
STONE, CLAY AND GLASS (32)
TRANSPORTATION EQUIPMENT (37)
WHOLESALE DISTRIBUTION (50, 51)
*TARGET INDUSTRIES LIST BY NAICS
Manufacturing
Food & Kindred Products
Textile Mill Products
Apparel & Other Textile Products
Lumber & Wood Products
Furniture & Fixtures
Paper & Allied Products
Printing & Publishing
Chemicals & Allied Products
Rubber & Miscellaneous Plastics Products
Stone, Clay, Glass, & Concrete Products
Primary Metal Industries
Fabricated Metal Product
Industrial Machinery & Equipment
Electrical & Electronic Equipment
Transportation Equipment
Instruments & Related Products
Miscellaneous Manufacturing Industries
Transportation, Communications, Electric, Gas, & Sanitary Services
Communications
Wholesale Trade
Durable Goods
Nondurable Goods
Retail Trade
None
Finance, Insurance, & Real Estate
Nondepository Credit Institutions
Security & Commodity Brokers, Dealers, Exchanges & Services
Insurance Carriers
Holding & Other Investment Offices
Services
Business Services
Motion Pictures (Production Studios) Engineering, Accounting, Research, Management & Related Service
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