Innovative companies are rethinking their strategies and exploring new frontiers. Based on the assets in our community Gulf County is positioned to respond to these demands and help businesses and industries secure strong market positions for future growth. Assets such as a deep water port (Port of Port St. Joe), an industrial canal capable of barge traffic that connects the Gulf of Mexico with the Gulf Intracoastal Waterway, abundant fresh water supply, excess waste capacity, excess power and natural gas capacity, and industrial rail system are available for potential businesses.
Gulf County located in Northwest Florida is uniquely positioned for success with a new Sacred Heart Hospital, an educated workforce and top ranked public schools. Growth potential in the region is excellent with Tyndall Air Force Base just minutes away. The future Gulf Coast Parkway will provide easier access to Northwest Florida Beaches International Airport, the first new international airport in the United States in over a decade.
Gulf County is located 22 miles east of Panama City Florida and just two hours from the state capital of Tallahassee. The Gulf County Economic Development Coalition is positioned to assist in business attraction and expansion as well as helping local companies to grow. We invite you to take a look at exciting opportunities unfolding that will change the way you think about doing business in Gulf County, Florida.
As a Rural Area of Opportunity designated by the Florida Legislature, Gulf County is able to access special consideration for projects impacting economic development. The following are special incentives through the State Enterprise Zone Program:
Additional Qualified Target Industry Tax Refund (QTI) per job created award.
Jobs Tax Credit (Sales Tax or Corporate Income Tax) – Tax credit (15-30% of wages for urban, 30-45% for rural) against either the sales tax or the corporate income tax (but not both) that the business pays to State of Florida. Depending upon percent of workforce residing in zone or rural county, credit may be greater.
Business Equipment Sales Tax Refund – Refund (up to $5,000) of sales tax paid on business equipment used in zone (up to $10,000 if 20% of employees live in zone)
Building Materials Sales Tax Refund – Refund of sales tax paid on building materials up to $5,000. (up to $10,000 if 20% of employees live in zone)
City and/or Local Property Tax Credit against Corporate Income Tax – Credit of up to $50,000 of local property tax liability may be taken against state corporate income tax.
Community Contribution Tax Credit Program – Credit on state corporate income tax or insurance premium tax equal to 50% of charitable contributions to an approved local community development project located in zone.
Click here to view more information via the Department of Economic Opportunity.
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