Taxes and Incentives

IT’S BETTER IN BRADFORD!

Let us show you how a Bradford County location can benefit your business! Our team is here to provide customized information and assistance to help you throughout your company’s expansion or relocation planning process. Here are just a few of the advantages Bradford County provides:

Bradford County, a FTZ and Rural Opportunity Zone designated county, has one of the lowest tax burdens in the U.S. That’s a big reason why more companies are looking here. A Bradford County, Florida location offers:

• NO corporate income tax on limited partnerships
• NO corporate income tax on subchapter S-corporations
• NO state personal income tax guaranteed by constitutional provision
• NO corporate franchise tax on capital stock
• NO property tax on business inventories
• NO property tax on goods-in-transit for up to 180 days
• NO sales and use tax on goods manufactured or produced in Florida for export outside the state
• NO sales tax purchases on raw materials incorporated in a final product for resale
• NO sales/ use tax on co-generation of electricity

Logistics Advantages:

Bradford County is centrally located between Jacksonville, Gainesville, and Lake City, with transportation accessibility to three major interstate systems (Interstate 10, 75 & 95) as well as US 301 and SR 100. This coupled with rail access, and proximity to airports and JAXPORT keeps your business moving forward.

Expedited permitting - fast track rezoning - impact fee waivers:

Bradford County is committed to moving at the speed of business. A building permit can be secured based on stamped, engineered plans in ten days. Rezoning property can be accomplished in two months. Water management permits for properties in Bradford County can be secured within a month, with more complicated environmental permits secured within six months. At this time, Bradford County has waived impact fees indefinitely.

Property Tax Advantages:

Bradford County ranks among the bottom half of all counties in the United States by property tax collections, and 51st among Florida’s 67 counties in median property taxes.

Aggressive Local Option Economic Development Tax Abatement:

On top of our competitive overall property tax rates, Bradford County offers aggressive local option economic development tax abatement for companies opening or expanding facilities, which allows for the abatement of an incremental percentage of the County portion of ad valorem taxes. Abatement values are based on the number of jobs expected to be created, and the salaries associated with those jobs. Abatement is subject to application and approval by the Board of County Commissioners. 

FPL HAS TWO INCENTIVE PROGRAMS FOR YOUR GROWING BUSINESS:

Power costs should never be a barrier in choosing Florida for your business. Even with rates among the lowest in the Southeast and well below the national average, we understand that, in today’s competitive economy, sometimes it takes more. FPL has two programs for economic development projects:    

Economic Development Rider (EDR)

Our economic development rider was designed to help attract new investment to the Sunshine State and create more jobs for Floridians. Eligible companies receive discounts on new electric demand for up to five years.

Commercial Industrial Service Rider (CISR)

This rate was designed to attract new, large power users to the state as part of a competitive site location project.

https://www.poweringflorida.com/florida-advantage/rates-incentives/

Other Financial Advantages:

Companies in Bradford County can also benefit from:

• Industrial Revenue Bonds
• Workforce Training Assistance, including customized job/hiring fairs, customized training courses, and free job posting
• New Market Tax Credits
• Targeted rural incentives, including the Rural Job Tax Credit, Rural Bonus on the QTI Tax Refund Program, and Rural Infrastructure Fund
• Opportunity Zone Tax Incentive (See Census Tract 4)

For more information on any of these programs or other questions you may have, please contact: chair@choosebradfordcounty.com or Pam Whittle at the N. Fl. Regional Chamber at 904-964-5278.