Economics Development Incentives
ECONOMIC DEVELOPMENT INCENTIVES FOR NEW AND EXPANDED BUSINESS LOCATIONS
CITY OF QUINCY
1) Alternative Utility Rate (discounted utility rate): As incentive to promote new business locations, the City of Quincy offers utility rate reduction for the first years of a business location based on the amount electricity consumed by the business and the number of full time employments created. The utility rate will be reduced based on the rate below:
Year 1 – 20% reduction
Year 2 – 15% reduction
Year 3 – 10% reduction
Year 4 – 5% reduction
Year 5 – 5% reduction
For details see Attachment A.
For more information:
Contact: Robin Ryals, Director.
Utility Department
Quincy, Florida 32351
2) Tax Incentives (Enterprise Zone Incentives): The City of Quincy is within the State of Florida Enterprise Zone. The State offers an assortment of tax incentives for businesses that choose to locate and create jobs within an enterprise zone. A business that chooses to locate in the City of Quincy and create jobs will be eligible for the tax incentives including sales tax credit, corporate tax credit, business equipment tax refund, building materials tax refund, and property tax refund. (For details see Attachment B).
For more information:
Contact: Bernard Piawah, Director
Building and Planning
Quincy, Florida 32351
ATTACHMENT A
City of Quincy, Florida Original Sheet No. 1 of 2
ECONOMIC DEVELOPMENT INCENTIVE PROGRAM
AVAILABILITY – Available throughout the area served.
APPLICABILITY – This Economic Development Incentive Program (the “Program”) is available for load associated with initial permanent service to new establishments or the expansion of existing establishments. Service under this Program is limited to customers who make application to the City for service under this Program, and for whom the City approves such application after October 1, 2013. The new load applicable under this Program, either for a new establishment or the incremental new load for an existing establishment must be a minimum of 200 Kw and 75,000 Kwh per month at a single delivery point. In the case of the expansion of existing facilities, the added new load must be a minimum of 100 Kw, however, in order to qualify, the total load after the addition of the new load must be a minimum of 200 Kw at a single delivery point.
Initial application for this Program is not available to existing load. However, if a change in ownership occurs after the customer contracts for service under this Program, the successor customer may be allowed to fulfill the balance of the contract under this Program and continue the schedule of credits outlined below. This Program is not available for renewal of service following interruptions such as equipment failure, temporary plant shutdown, strike or economic conditions. This Program is not available for load shifted from one establishment or delivery point on the City system to another on the City system.
The load requirements under this Program must be achieved at the same delivery point. Additional metering equipment may be required to qualify for this Program. The customer’s service agreement under this Program must include a description of the amount and nature of the load being provided, the number of full-time jobs resulting (which must fall in the range of 40 to 60 jobs), and documentation verifying that the availability of the Economic Development Incentive Program is a significant factor in the customer’s location/expansion decision.
LIMITATIONS – The City reserves the right to limit applications for this Program when the City’s economic development expenses from this Program and other sources exceed $200,000 per year.
DEFINITION – New Load is that which is added to the City’s system by a new establishment after October 1, 2013. For existing establishments, New Load is the net incremental load above that which existed prior to approval for service under this Program.
(Continued on Sheet No. 2 of 2)
City of Quincy, Florida Original Sheet No. 2 of 2
(Continued from Sheet No. 1 of 2)
DESCRIPTION – A credit based on the percentages below will be applied to the customer charge, demand charge, and non-fuel (base) energy charge of the customer’s otherwise applicable rate schedule associated with the customer’s New Load:
Year 1 – 20% reduction
Year 2 – 15% reduction
Year 3 – 10% reduction
Year 4 – 5% reduction
Year 5 – 5% reduction
TERM OF SERVICE – The customer agrees to a five year contract term. Service under this Program will terminate at the end of the fifth year.
The City may terminate service under this Program at any time if the customer fails to comply with the terms and conditions of this Program. Failure to: (1) maintain the level of employment specified in the customer’s service agreement and/or (2) purchase from the City the amount of load specified in the customer’s service agreement may be considered grounds for termination.
PROVISIONS FOR EARLY TERMINATION – If the City terminates service under this Program for the customer’s failure to comply with its provisions, the Customer will be required to reimburse the City for any discounts received under this Program plus interest.
If the customer opts to terminate service under this Program before the term of service specified in the service agreement, the customer will be required to reimburse the City for any discounts received under this Program plus interest.
SPECIAL PROVISIONS:
- Service under this program is subject to orders of governmental bodies having jurisdiction, including the Florida Public Service Commission.
ATTACHMENT B
Tax incentives for new businesses in the City of Quincy (Enterprise Zone)
The State of Florida has designated the City of Quincy and Gadsden County as a Rural Enterprise Zone and as such is eligible for certain tax incentives. The following incentives are available for businesses that choose to locate in the City of Quincy and create employments:
Jobs Tax Credit (Sales):
This allows a business located within the Rural Enterprise Zone to take sales and use tax credit for 30 or 45 percent of wages paid to new employees that live in a Rural County. The business must create at least one job to be eligible.
Jobs Tax Credit (Corporate Income Tax)
Allows a business located within REZ to take a corporate income tax credit for 30 or 45 percent of wages paid to new employees who reside within a Rural County. To be eligible, the business must create at least one new job. This credit cannot be used in conjunction with the sales tax credit
Business Equipment Sales Tax Refund:
A refund is available for sales taxes paid on the purchase of certain business properties which are used exclusively in the Enterprise Zone for at least 3 years.
Business equipment must have a sales price of at least $5,000 per unit
The maximum refund per application will be no more than $5,000 or 97% of the tax paid
If 20% or more of the permanent, full-time employees of the business are residents of the County, the refund will be no more than the lesser of $10,000 or 97% of the tax paid.
Building Materials Sales Tax Refund
A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in the enterprise zone
The total amount of the sales tax refund must be at least $500, but no more than the lesser of $5,000 or 97% of the tax paid per parcel of property
If 20% or more of the permanent, full time employees of the business are residents of an Enterprise zone the refund will be no more than the lesser of $10,000 or 97% of the tax paid per parcel.
Property Tax Credit (Corporate Income Tax)
New or expanded businesses located within an enterprise zone are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property
The corporation must be located within an Enterprise Zone
Firms must earn more than $50,000 to take advantage of the credit
New businesses must establish 5 or more new jobs
An Expanding business must establish 5 or more new jobs
A Rebuilding business must have suffered damage in an emergency
For more information on the tax incentives contact:
Burt C. Von Hoff
Florida Department of Economic Opportunity
Division of Community Development 107 East Madison Street; MSC 160
Tallahassee, Florida 32399
Phone: 850-717-8518
Or
Bernard Piawah, Ph.D
Director Building and Planning
Quincy, Florida 32351
Phone: 850-618-1885
Economic Development
VACANT STRUCTURES AND ASSETS In the Quincy Environment Building & Planning
February 14, 2013
The old Quincy Printing House
Area: 24.64 acres
Buildings (2): 202,817 sq. ft. total
Zoning: County Industrial; location and facility suitable for light manufacturing
The Old All-Tech Building; 190 Corporate CT
Area: 5 acres
Buildings (2): 11,444 sq. ft. total
Zoning: C-2; location and facility suitable for packaging, warehousing and distribution; light industrial; etc.
The Old Higdon Furniture Company Facility; 1811 Florida Avenue
Area: 2.07 acres
Buildings (2): 37,656 sq. ft. total
Zoning: M-1; location and facility suitable for light manufacturing; warehousing and distribution
The Old Higdon Manufacturing Company buildings; 1703 Florida Avenue
Area: 5.37 acres
Buildings (3): 103,832 sq. ft. total
Zoning: M-1; location and facility suitable for light manufacturing; warehousing and distribution
The Old IGA Building; 1509 Jefferson Street
Area: 4.53 acres
Building: 56,189 Sq. ft.
Zoning: C-2; location and facility suitable for retail use & warehousing and distribution.
The Old Specialty Chemical building; 115 W. Clark Street
Area: 0.33 acres
Buildings (2): 35,000 sq. ft. total
Zoning: C-2; location and facility suitable for warehousing
The Old Masonic building; No. 2 Adams Street
Area: 0.29 acres
Building: Four-story building; 21,000 sq. ft.
Zoning: C-1; location and facility suitable for retail and office; could be rezoned to add residential
Capital City Bank adjacent building; No. 12 Washington Street
Area: Less than an acre
Building: Two-story building; approximately 11, 000 sq. ft.
Zoning: C-1; location and facility suitable for retail and office
Quincy Business Park; Joe Adams Road
Area: Approximately 100 acres
Condition: Vacant and cleared; preliminary platted in 2-5 acre lots
Location: About one half of a mile from I-10
Zoning: C-2; location is suitable for wholesale and distribution; assemble and packaging, warehousing, and light manufacturing; has railroad access