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Business incentives in the Tampa Bay area are available to local start-up companies or companies looking to relocate or expand. Many business incentives are offered to companies at the state level by the State of Florida, as well as at the local level by the city and county.
The incentives that are offered to businesses bring growth to the community and to the companies themselves. The business incentives improve the overall economy of the community, increase the job market, improve quality of life, and so much more.
Business incentives are available in the form of tax credits, refunds, special financing, tax exemptions, and assistance. To find out what business incentives are available to your business, contact your local or state offices.
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At the local level, some of the business incentives available are:
- TEDCO (Tampa Bay Economic Development Corp.) -- a private, nonprofit, economic development, and job creation organization designed to give local businesses assistance in creating job growth and economic growth.
- TBBBIC (Tampa Bay Black Business Incentive Corp.) -- makes funds available to local business that are African-American owned. The TBBBIC has been designed to offer economic assistance in the form of loans to promote growth for qualifying African-American owned businesses.
- HBIF (Hispanic Business Initiative Fund) -- provides technical assistance to Hispanic entrepreneurs and businesses in the form of management training programs and professional services. The HBIF provides strength and opportunity for Hispanic businesses in Tampa.
At the State level, business incentives that are offered by the State of Florida are:
- Qualified Target Industry Program which encourages businesses to create jobs by offering tax refunds in exchange for high-wage job creation.
- The Road Fund, which provides local governments with state funding for transportation-related projects to induce companies to remain or expand locally.
- Workforce Training, which offers customized training to secure new value-added businesses to Florida and provide existing businesses with necessary training to enable expansion.
These are just a few of the business incentives that are offered to local businesses by the State of Florida. Contact your local or state officials to receive more information about business incentives that are available to you and your company.
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