ENTERPRISE ZONE FINANCIAL INCENTIVES

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Mayor Ed Austin brought the Enterprise Zone into effect on May 3, 1995. The zone was designated to be 16.3 square miles in Jacksonville with approximately 60,000 people living within the area. The program gives many opportunities for tax credits and refunds for businesses and employees located in the Enterprise Zone. Six financial incentives were designed to help businesses in the area. For more information, eligibility requirements, and applications click on the links below.

• Enterprise Zone Jobs Tax Credits (Sales tax)
• Enterprise Zone Jobs Tax Credits (Corporate Income Tax)

  This is a program to encourage employers to hire individuals who live and work in the Enterprise Zone. To promote this Jacksonville offers these tax credits for businesses.
  
  To qualify for either of these tax credits employer and employee must meet these criteria.
  
  

  Business Requirements:	Must be located within Enterprise Zone Must collect and pay sales and use tax Both tax credits cannot be used simultaneously
  Employee Requirements:	Must reside and work in Enterprise Zone Minimum of 20 hours per week Must be employed for 90 days Can't be partner or an owner Cannot be from temporary employment agency

• Business Equipment Sales Tax Refund
• Building Materials Sales Tax Refund

  These two programs are to encourage businesses to renovate and update sites in the Enterprise Zone.
  
  To qualify for these refunds business must meet these criteria.

  Business Requirements:

  Must be located in Enterprise Zone Purchase must be of recovery property, industrial machinery, or building materials. Equipment must be used in an Enterprise Zone for at least three years. *For Materials Sales Tax Refund property being renovated must be in an Enterprise Zone.

• Enterprise Zone Property Tax Credit

  This incentive is designed to encourage employers to locate in the Enterprise Zone and create jobs for workers in the zone.
  
  To qualify for the Property Tax Credit businesses must meet these criteria.

  Business Requirements:

  Located within the Enterprise Zone Must earn more than $5,000 New businesses must establish five or more jobs Expanding businesses must create five or more new jobs Rebuilding businesses must have suffered damage in an "emergency"

• Sales Tax Exemption For Electrical Energy

  This program is designed to encourage businesses to occupy new or newly renovated buildings in the Enterprise Zone by offering exemptions for electrical energy.
  
  To qualify business must meet the following criteria.

  Business Requirements:

  Must be located in the Enterprise Zone Must be a newly occupied structure (no previous electrical service) Or a renovated structure (no electrical for three months) Or has received a building materials sales tax refund

  FOR MORE INFORMATION CONTACT JOSEPH WHITAKER AT (904) 630-1624