Qualified Target Industry Tax Refund Program (QTI)

The Qualified Target Industry (QTI) Tax Refund is a tool available to Florida communities to encourage quality job growth in targeted high value-added businesses.

Pre-approved applicants who create jobs in Florida receive tax refunds of $3,000 per net new full-time equivalent Florida job created; $6,000 in an Enterprise Zone or Rural County. For businesses paying 150 percent of the average annual wage, add $1,000 per job; for businesses paying 200 percent of the average annual salary, add $2,000 per job. New or expanding businesses in selected targeted industries or corporate headquarters are eligible.

If approved, the applicant may receive refunds on the taxes it pays. This includes corporate income, sales, ad valorem, intangible personal property, insurance premium, and certain other taxes. There is a cap of $5 million per single qualified applicant in all years, and no more than 25 percent of the total refund approved may be taken in any single fiscal year.

ELIGIBILITY

In order to participate, a company must apply to Enterprise Florida prior to making a decision to locate or expand in Florida¹. In order to qualify for consideration under the program, an applicant must:

• Be in a (Adobe PDF document) target industry
• Submit an application before making a decision to locate or expand in Florida, and demonstrate that the tax refund will make a material difference in the company's decision to locate or expand in the community.
• Create at least 10 net new full-time equivalent Florida jobs and; if an expansion project, increase employment by at least 10 percent (whichever is greater). For a project located in a rural community or an enterprise zone, the net increase in employment may be waived in special circumstances.
• Pay an average annual wage that is at least 115 percent of the state, metropolitan statistical area (MSA), or the local average wages. For a project located in a rural county, rural community, a designated brownfield area or an enterprise zone, the wage requirement may be waived in special circumstances.
• 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 percent of the tax refund. If located in a Rural County or designated brownfield area, 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.

¹ All final decisions on applications are based upon all available information at that time. Any business decisions, such as announcements, leasing of space or hiring of employees, made prior to submission of a complete, effective QTI application will be grounds for disapproval. Projects, which clearly do not require inducement, will not be approved.

For additional information contact the Economic Development Council of Tallahassee/Leon County, Inc. (850) 521-3106.