Qualified Target Industry
The Qualified Target Industry (QTI) Tax Refund is available to Florida communities for encouraging quality job growth in targeted, high value-added industries. Pre-approved applicants creating jobs in Florida receive refunds on the taxes they pay including corporate income, sales, ad valorem, and certain other taxes.
Eligible applicants pay an average annual wage that is at least 115 percent of the state, metropolitan statistical area (MSA), or the local average wage – a minimum average annual wage of $47,204 ($22.69 per hour) for Polk County. The amount of the refund is equal to $3,000 per new job created. An additional $1,000 “per job” bonus is available for businesses paying 150 percent of the local or statewide average annual wage ($61,571 for Polk County).
In order to participate, the company must apply to Enterprise Florida prior to making a decision to locate in Florida. The community must provide a resolution from the city or county commission recommending the applicant for the incentive, and commit to provide a local match equaling 20 percent of the total tax refund.