| Program | Miami-Dade County - Targeted Jobs Incentive Fund |
|---|---|
| Category | Financial Incentive |
| Implementing sector | Local |
| Last Update | |
| State | Florida |
| Administrator | Miami-Dade County, District 8 |
| Website | http://www.miamidade.gov/business/targeted-jobs-incentive-fund.asp |
| Technologies | Solar Thermal Electric, Solar Photovoltaics |
The Targeted Jobs Incentive Fund (TJIF) provides financial incentives for select industries, including solar thermal and photovoltaic manufacturing, installation and repair companies that are relocating or expanding within Miami-Dade County. The program is administered by the Beacon Council. To be eligible, new or expanding companies relocating to Miami-Dade County must create at least 10 new jobs with salaries equal to or exceeding 100% of the state annual average wage, and make a capital improvement of at least $3 million.
Qualifying industries include:
- Advanced Manufacturing
- Aviation/Aerospace
- Clean Energy,
- Financial/Professional Services
- Homeland Security/Defense
- Information Technology
- Life Sciences
- Creative Industries
- Global Logistics
- Corporate Headquarters
Miami-Dade County will provide a qualifying company a property tax credit up to 1.7% of total real property capital investment or 1.15% of the tangible personal property capital investment. Incentives will be paid over a six year time period. Incentive award cannot exceed more than the revenue generated by the TJIF project over the same six year time period.
Additional incentive opportunities for eligible real property and tangible personal property are as follows:
- 17.5% of capital investment bonus for each new job if the Company is located in a Designated Priority Area.
- 17.5% of capital investment bonus for each new job if the Company is a "Green Certified" business in Miami-Dade County.
- 5% of capital investment bonus for companies that operate their businesses out of buildings or facilities that qualify as "green construction" or that incorporate an alternative energy system. Specifically, a company can receive a bonus of up to $1,000 if the company operates its business out of a building or facility which qualifies as "green construction" and is certified through the Leadership in Energy and Environmental Design (LEED) Green Building Rating System by the Florida Green Building Council or by the U.S. Green Building Council; and an additional bonus of up to $500 if the company operates its business in a building or facility which incorporates energy generated by solar thermal, solar photovoltaics, fuel cells, and/or co-generation. The alternative energy systems, with the exception of solar thermal, must be grid connected to the local utility in order to qualify.
- 5% of capital investment bonus, if the company manufactures, installs or repairs solar thermal or photovoltaic systems.
All incentive disbursements will occur after jobs are created, capital investments are made and a qualifying company has paid taxes.
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