Business Tools to “Prosper in Paradise"….
|What is the Economic Recovery Task Force (ERTF)? Click here…..|
DIVERSIFICATION OF THE LOCAL ECONOMY
One of the largest, Master Planned Artificial Reef Projects in the Western Hemisphere is underway off the Gulf waters of Collier County. Click here for more information; article begins on page 19.
FUNDING OPPORTUNITIES FOR YOUR BUSINESS
Industrial Development Revenue Bonds
Industrial Development Revenue Bonds (IRDBs) are securities issued by a local governmental agency, such as the Collier County Industrial Development Authority, for the purpose of financing capital projects for companies. Industrial Development Revenue Bonds, also known as “private activity bonds” are a viable method of financing certain types of industrial relocation and expansion, as outlined below. It is important to note that the debt is a liability of the respective company, not the local governmental agency.
Industrial Development Revenue Bonds offer some advantages over conventional financing methods, including the following:
1- Since IDRBs are considered limited and special obligations of governmental units, the interest on the bond may not be subject to federal income tax and certain State and local taxes, including intangible taxes and documentary stamp taxes.
2- Some capital costs associated with the acquisition of an industrial project may be financed.
The qualifications for Industrial Revenue Bond financing are established by Federal and State regulations and by the policies adopted by the issuing agency of local government. There are numerous types of projects which may be eligible for tax exempt financing and these are defined in Florida Statute Section 159.27(5). Eligible projects include, but are not limited to, the following:
Manufacturing or industrial plants
Research and development parks
Warehousing and distribution facilities
Corporate headquarters facilities
Health care facilities
Airport or port facilities
This brief synopsis is not intended to be a statement of the current law on the subject and interested parties should retain proper consultants to ensure that they have knowledge of the most current laws, rules and regulations related to their particular project at the time at which they engage in financing.
Click here for the Bond Application Process.
For more information on this program please contact: Don Pickworth at email@example.com
Tamiami Angel Fund
The Tamiami Angel Fund I, LLC ("TAFI" or "the Fund") is Southwest Florida’s first Angel Fund. TAFI is a formal fund of growth capital organized to invest in Florida-based early stage through expansion stage companies. TAFI is a Member-owned and Member-managed for-profit limited liability company that seeks to provide its Members an opportunity for active involvement in a diversified capital investment process and a portfolio of high quality, high growth companies located in the State of Florida.
Angel investors nationally, provide billions of dollars of funds each year for early stage companies; in some years more than all venture capital firms combined. While there are many varieties of angels, the members of the Tamiami Angel Fund (I) are sophisticated, experienced investors that offer more than just growth capital. The career capital that is represented by our membership can provide valuable introductions, management expertise, and strategic coaching. If you are a company with a great idea, we want to hear from you. Read about investment criteria, funding process, and then learn how to submit your business plan at www.tamiamiangels.com
For more information contact: Daphne Barlie at firstname.lastname@example.org or phone: 239.262.6300.
VIP PERMITTING PROCESS
The Economic Recovery Task Force-Commercial Retrofitting SWAT team has created a group of development professionals that are offering assistance to business owners through the initial permit application process. This pro-bono service will include an initial consultation to review plans, offer insight into local and state code requirements, and provide tips on how to expeditiously move through the review process. Once the project is ready to be submitted, the Economic Recovery Task Force-Commercial Retrofitting SWAT team member will introduce the applicant and his/her design professional to a member of the Collier County Growth Management Division (GMD) Client Services Section, who will be assigned to track and guide your project through the review and inspection process, providing weekly follow-up, and correspondence pertaining to reviews and inspections. Contact: Team Leader Brad Schiffer at email@example.com to schedule a plan review or for more information.
The Collier County Growth Management Division, Operations and Regulatory Management Department, has established the following performance standards for review of the building permit plans within the following time periods:
One and Two Family Units: 5 Business Days
Commercial (one trade): 5 Business Days
Commercial (two to three trades): 10 Business Days
Commercial (greater than three trades): 15 Business Days
In the event that any building permit application review is not completed within the aforementioned timeframes, the building permit applicant shall be eligible for a refund of 50% of the building permit application review fee. For more information regarding all of the building permit review performance standards, contact Jamie French at JamesFrench@colliergov.net
Cost to businesses have been substantially reducedCost to businesses have been substantially reduced
REASONS TO LOCATE YOUR BUSINESS IN THE ENTERPRISE ZONE (Immokalee)
Jobs Tax Credit on Sales Tax
This incentive is designed to encourage businesses to hire local residents. It allows a business located within an Enterprise Zone to take sales and use tax credit for 20 or 30 percent of wages paid to new employees who reside within an enterprise zone. To be eligible, a business must create at least one new job for every job application filed. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Jobs Credit.
Jobs Tax Credit Corporate Income Tax
This incentive is also designed to encourage businesses to hire local residents. It allows a business located within an Enterprise Zone to take a corporate income tax credit for 15 or 20 percent of wages paid to new employees who reside within an enterprise zone. The Corporate Tax Credit cannot be used in conjunction with the Sales Tax Credit. A business should evaluate which job tax credit offers the most benefit.
Business Equipment Sales Tax Refund
A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in an Enterprise Zone for at least three years.
Building Materials Sales Tax Refund
A business located in the Enterprise Zone can apply for a refund of the sales taxes paid on the purchase of building materials used to rehabilitate real property.
Property Tax Credit for 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. For More information contact Brad Muckel Bradley at Bradleymuckel@colliergov.net or log onto www.immokaleetoday.com
NEW ADVERTISING OPPORTUNITY FOR YOUR BUSINESS
"One sandwich board sign is allowed at the entrance door of a business establishment as long as the base is no more than 30 inches and a maximum height of 42 inches. The sign location must allow for a passageway of 36 inches for ADA accessibility of pedestrians and shall be removed from the entrance door area when the business is not open." View Executive Summary to BCC
FLORIDA IS THE FIFTH (5) BEST BUSINESS TAX CLIMATE IN THE NATION
The Tax Foundation 2015 State Business Tax Climate Index (SBTCI) is a tool to gauge how the States’ tax systems compare. The 2015 SBTCI compares the states on five separate aspects of their tax systems and then adds the results up to a final, overall ranking. This approach has the advantage of rewarding states on particularly strong aspects of their tax systems (or penalizing them on particularly weak aspects) while also measuring the general competitiveness of their overall tax systems. The result is a score that can be compared to other states’ scores.
The ten best states in the Nation are as follows:
2. South Dakota
7. New Hampshire
Click here to view the 2015 State Business Tax Climate Index:
SMALL BUSINESS DEVELOPMENT (SBDC) AT FLORIDA GULF COAST UNIVERSITY
The SBDC Program is designed to deliver up-to-date counseling, training and technical assistance in all aspects of small business management. SBDC services include, but are not limited to, assisting small business with financial, marketing, production, organization, engineering, and technical problems, and feasibility studies. Special SBDC programs and economic development activities include international trade assistance, technical assistance, procurement assistance, venture-capital formation, loan package information, and rural development. For additional information contact Ms. Suzanne Specht at 239-745-3704 or firstname.lastname@example.org
SCORE NAPLES CHAPTER - Counselors to America’s Small Business
For more information: www.scorenaples.org or contact 239-430-0081. Offices are open weekdays from 9:00 a.m. - 12:00 noon. No appointment is necessary if you visit our office. If you call for an appointment after hours, you will be contacted by a counselor within 48 hours.
BRING YOUR BUSINESS TO A BRIGHTER PLACE
Choosing a location to grow or expand your business requires both knowledge and vision; an understanding of the current environment and a sense of what the future has to offer; a grasp of the facts and a feel for the potential.
That’s the beauty of Southwest Florida; a dynamic region rich in possibilities.
This five-county partnership is committed to the continued expansion of its infrastructure, resources, intellectual, and financial capital. It is prepared to respond to the distinct needs of the business community, and to support creative people and companies that are tired of doing business the “same old way” in the “same old places”…that are looking for a new opportunity to take advantage of an emerging, pro-business environment.
COLLIER COUNTY RESIDENTS ARE THE HEALTHIEST IN THE STATE ACCORDING TO A STUDY BY A LEASING HEALTH-CARE PHILANTHROPIC ORGANIZATION http://www.countyhealthrankings.org/sites/default/files/states/CHR2010_FL_0.pdf
Sheriff Rambosk speaks of the Collier County Sheriff's Office Community Safety Plan. A plan that will further the Sherifff's Office efforts at continuous improvement and organizational excellence and clarifies their direction for members and the community they serve. www.colliersheriff.org/greatplace
FAST FACTS ABOUT FLORIDA www.TheFloridaScorecard.com
OR MORE INFORMATION ABOUT THE ECONOMIC RECOVERY TASK FORCE (ERTF)