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Enterprise Zone

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To learn if your property is within the Enterprise Zone, please call the Economic Development Office with your 12 digit Parcel ID that can be found on your tax bill.
	Enterprise Zone Designation:
	In June 2011, the County began working with our local state delegation to amend Section 290.0076, Florida Statute to allow Charlotte County to apply to the Department of Economic Opportunity for designation of one enterprise zone in Charlotte County. The Florida Legislature enacted HB 7087 that included the approval of the Charlotte County Enterprise Zone contingent on the completion of an application to the Florida Department of Economic Opportunity by December 31, 2012.

	On August 28, 2012 the Board of County Commissioners approved the nominating area of the Charlotte County Enterprise Zone and established the Charlotte County Enterprise Zone Development Agency. View Resolution These approvals were the first in a series of steps necessary to establish the zone which provides incentives to businesses to locate or expand in the zone.

	Charlotte County Enterprise Zone Development Agency consists of six volunteers who serve on the newly created Agency that oversee the development and implementation of the Enterprise Zone Strategic Plan. The positions include: one representative of a financial or insurance entity located in the Enterprise Zone; one representative of a business operating in the Enterprise Zone; one resident of the Enterprise Zone; a representative of a non-profit community-based organization operating in or providing services in the Enterprise Zone; and two at-large members of the County. View Enterprise Zone Strategic Development Plan . Following review, the Department of Economic Opportunity approved the Enterprise Zone designation EZ-0801 to be in effect from January 1, 2013 to December 31, 2015. For more information please contact Debrah Forester at 941-764-4943.

	What are Enterprise Zones:
	In 1982, the State of Florida established the Enterprise Zone program to encourage economic development in economically distressed areas of the state by providing tax advantages and incentives to induce private investment into the area which will lead to job growth and capital investment.

	Benefits of the Enterprise Zone: Encourages the creation of new jobs and the hiring of local residents that live within the Enterprise Zone. Encourages private investment into the Enterprise Zones by providing incentives to build new facilities and to purchase new equipment.
	Criteria for Establishing the Enterprise Zone:
	Based on State Requirements, the Enterprise Zone cannot exceed 20 square miles. An Enterprise Zone is allowed up to three non-contiguous areas provided the poverty and unemployment rates for each area are met. The selected area suffers from pervasive poverty, unemployment, and general distress by having the following poverty and unemployment demographics: In each census geographic block group within the nominated area the poverty rate may not be less than 20%; In at least 50 percent of the block groups within the area the poverty rate may not be less than 30%; The average unemployment rate for the nominated area is not less than the state's average of unemployment (8.9%); General Distress shall be evidenced by describing adverse conditions within the nominated area other than those of pervasive poverty and unemployment.
	Enterprise Zone Incentives: Jobs Tax Credit (Sales Tax Credit) – Allows a business located in an Urban Enterprise Zone to take a sales and use tax credit for 20% to 30% of the wages paid to new employees who reside in the zone. To be eligible, a business must create at least one new job. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Credit. Jobs Tax Credit (Corporate Income Tax) – Allows a business located within an Urban Enterprise Zone to take a corporate tax credit for 20% to 30% of wages paid to new employees who reside within the Enterprise Zone. The Corporate Income Tax cannot be used in conjunction with the Sales Tax Credit. Business Equipment Sales Tax Refund – A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in an Enterprise Zone for at least 3 years (up to $5,000). Building Materials Sales Tax Refund – A refund is available for sales taxes paid on the purchase of building materials used exclusively in an Enterprise Zone (up to $5,000). Property Tax Credit (Corporate Income Tax) – New or expanded businesses located within an Enterprise Zone are allowed a credit against Florida Corporate Income Tax equal to 96% of ad valorem taxes paid on the new or improved property. Sales Tax Exemption for Electrical Energy – Provides 50% sales tax exemption to qualified businesses located in the Enterprise Zone on the purchase of electrical energy (up to 5 years). Community Contribution Tax Credit Program – Allows businesses a 50% credit on Florida Corporate Income Tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in an Enterprise Zone to be eligible for this credit.
	Explaination of Incentives
	Approval letter
	EZ Brochure

18501 Murdock Circle, Suite 302 ~ Port Charlotte, Florida 33948 ~ Phone: 1-941-764-4941 ~ Fax: 1-941-764-4947
Email: FloridaEDO@charlottefl.com ~ Web Site: http://www.FloridasInnovationCoast.com
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Enterprise Zone