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2020

Number of jobs committed by contract created through Greater Fort Lauderdale Alliance leads and through existing Qualified Target Industries (QTI) projects

Status Indicators:
Proceeding as Planned
 Monitoring Progress
Reviewing for Improvement
Information Unavailable

Status Indicators: Proceeding as Planned |  Monitoring Progress | Reviewing for Improvement | Information Unavailable

Many companies open or relocate and grow in Broward and Fort Lauderdale area without any incentive assistance. Companies that reach out to obtain information to better understand the local market usually also seek information about available incentives.  QTI is the number one incentive used in the State of Florida. Virtually all QTI companies make initial local contact through either the City of Fort Lauderdale, Economic and Community Investment Division (ECI), and/or the Greater Fort Lauderdale Alliance (GFLA), a Countywide economic development agency.

ECI and GFLA work closely together to support and influence prospective companies to complete their selection to relocation in Fort Lauderdale and the GFLA assists the company to fill out the QTI contract application.

In order to participate in the QTI Tax Refund program, companies must apply to Enterprise Florida (EFI) prior to making a decision to locate or expand in Florida. In order to qualify for consideration under the program, an applicant must:

  • Be in a defined target industry that is developed by Department of Economic Opportunity (DEO) and EFI;
  • Submit an application before making a decision to locate or expand in Florida, and demonstrate that the tax refund will make a material difference in the company’s decision to locate or expand in the community;
  • Within a 5-year period, create at least 10 net new full-time equivalent Florida jobs and, if an expansion project, increase employment by at least 10 percent (companies must commit to the number of jobs they will create in each of the years of the total 5-year window);
  • Pay an average annual wage that is at least 115 % of the local average wage. The average wage in 2020 was $ 48,898 in Fort Lauderdale.
  • Show that the jobs make a significant economic contribution to the area economy; and
  • Provide a resolution from the City Commission recommending the applicant for the incentive and committing to provide a local match equaling 20 % of the tax refund.

EFI submits the application and recommends the project to the Department of Economic Opportunity (DEO), who makes the final decision on the project.

Once the QTI application is approved, the business will begin working directly with DEO to finalize the tax refund agreement. 

The State of Florida pays 80% of the earned, approved incentive, and the City/County pays 20% (local match) of the earned, approved incentive. The City’s local match is paid from the City’s general fund.

Pre-approved applicants who create jobs in Florida receive QTI incentives of $3,000 per net new full-time equivalent Florida job created. Only 25% of the earned incentive is paid each year – this assures the new job is maintained for at least four years to earn the entire incentive for each job. Additional awards are available for projects meeting the specific criteria below. Note these are maximum amounts per job and the actual awards could be lower.

  • $1,000 per job for businesses paying at least 150 % of the prevailing average annual wage or $2,000 per job for businesses paying at least 200 % of the prevailing average annual wage;
  • $2,000 per job if the business falls within a designated high impact sector OR if the business increases exports of its goods through a seaport or airport in the state by at least 10 % in value or tonnage in each year of receiving a QTI refund; and
  • $2,500 per job if project is in a designated Brownfield area (Brownfield Bonus).

One requirement for a company’s participation in the QTI Tax Refund program is to obtain support via a resolution from the local government recommending the applicant for the incentive with a commitment to provide a local match equaling 20 % of the tax refund. The Economic and Community Investment (ECI) Division is responsible for processing the City’s commitment for the match of the QTI incentive by securing a resolution in support of the City’s financial contribution to the program. 

The target was established by determining a desired increase in the number of jobs created through QTI incentives. Net new jobs include new jobs created by a company already residing in Fort Lauderdale that qualify for QTI as a result of expansion. The target reflects the total number of new jobs committed by the QTI companies as they have up to five years to achieve this.

The Qualified Target Industry Tax Refund (QTI) program was created by the Legislature in 1994 to encourage the recruitment or creation of higher-paying, higher-skilled jobs in the state by awarding eligible businesses tax refunds in exchange for creating jobs in certain target industries.

City of Fort Lauderdale
100 North Andrews Avenue | Fort Lauderdale, FL 33301
www.fortlauderdale.gov

Office of Management and Budget
Division of Structural Innovation
Contact: [email protected]

City of Fort Lauderdale
100 North Andrews Avenue | Fort Lauderdale, FL 33301
www.fortlauderdale.gov

Office of Management and Budget
Division of Structural Innovation
Contact: [email protected]