Clay County Florida has a reputation for being one of the most business-friendly counties for a reason. The push to encourage new business development continued in October with new incentives offered by the county.
The new $1.9 billion First Coast Expressway project by the Florida Department of Transportation is expected to help infrastructure and growth in the county. Now Clay County leaders are making a push for the business required to maintain booming population growth.
Several new incentives offered by the county, meant to attract new business development, include:
Economic Development Grants that look to grow commercial real estate that add to the tax base in Clay County. Businesses must create 10 or more full-time jobs that pay over the county average by 1% or more. The 10 jobs have to be created for a full tax year and capital investments by the business must be over $1 million.
Large Primary Employer Retention Grants are available for larger employers. Businesses must employ at least 100 workers and provide goods and services that attract new sales and investment into the county.
Tangible Personal Property Capital Investment Grants encourage businesses to move to Clay County. Businesses must fall into certain qualified target industries, create at least 50 jobs paying 101% (or 20 jobs paying 150%) of the county’s average wage. The business must also invest at least $1 million into equipment.
Large Primary Employer Grants are intended to attract new businesses looking to build or lease facilities. Businesses are required to employ at least 150 people with at least 10 of those paid 101% of the county’s annual average wage.
Industrial Development Revenue Bonds are given by the Clay County Development Authority for industrial businesses looking to relocate or expand. The Development Authority will determine the amount of the bonds based on the scale of the project.
Regulatory relief is available for select target industries who are creating jobs. Businesses must create 10 jobs or create a 10% increase in existing job wages paying 115% of the county’s average wage, or 100% of the average wage for manufacturing businesses.
As Clay County continues to push for new businesses to support a growing population, Landmark Commercial Realty Group stands in support of incentives to attract high wage jobs and strong business to the area. As the only independent and local commercial realty group we’re happy to help any business looking to relocate find the proper home. Browse our commercial real estate listings and learn more about what our county has to offer by following us on Facebook today.
Learn more about the Clay County Economic Development Corporation at: http://www.chooseclay.com/