A Rundown of Economic Incentive Programs in Brevard County

Pile of moneyMany people and companies are flocking to Brevard County in recent years because of the area’s ever-growing high tech corridor. While the jobs in those fields are the driving force behind a growing workforce population, the economic incentives offered by the county no doubt play an important role in the recruitment of new faces and businesses. Ranging from funds to grants and programs, the opportunity is there to take advantage of a fresh start in more ways than one.

Qualified Target Industry Tax Refund

Targeted towards companies willing to locate in Brevard County, this refund offers numerous financial incentives to create jobs for the area. Offering up to $3,000 for every new full-time job created and up to $6,000 in “enterprise zones,” a relocating company could receive a large initial boost when moving to Brevard. Applications for the refund must be submitted before a company hires and/or relocates to ensure proper protocol is followed.

Community Development Block Grant

Grants devoted to companies and agencies who provide some sort of community service to the area, the Community Development Block Grant is available to companies that meet 501c(3) status. For those that have just started a business in the county or moved to the area, this could help ingratiate the business to Brevard. To receive the grant, companies must do one or more of the following: make public improvements, demolish or clear areas in need of redevelopment, acquire land for the community, provide economic development to the area, or provide educational or recreational mentoring services to the community.

Quick Response Training Program

This program provides grant funding for customized training. By creating new, high-quality jobs, the training program will allow companies to bring in trainers that meet the educational needs of the individual company. In order to be eligible for this program, companies must: be for-profit and create permanent full-time jobs, pay an average annual wage at least 115% or more of local or state private-sector salaries, and produce an exportable good or service.

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