Alternative Funding Sources

Florida's First Business Bond Pool

This program provides access to approximately 20% of Florida's total Private Activity Bond volume.

Requirements: To qualify as a Florida First Business Project, the capital investment must meet IRS requirements leading to the creation of a new Florida business, the expansion of an existing Florida business, or the retention of a Florida business.
The project must create 100 new jobs, and if an expansion, increase employment by at least 10%, pay an average wage at least 115% of the average wage in the area and be in a target industry.
Or, the project must create a substantial economic benefit, implement a key economic development strategy of the community, or save a significant number of Florida jobs.

Florida Development Finance Corp. Enterprise Bond Program

This program is a tax-exempt, fixed asset financing program for manufacturing facilities-land, buildings, and new equipment. Bonds may not be used to refinance existing debt or for working capital.

Maximum Amount: Up to the lesser of 90% of cost or 80% of appraised value for real estate and 80% for equipment. If 100% financing is needed, non-FDFC funded assets owned free and clear can be pledged as additional collateral. Minimum loan: $500,000; maximum: $2.5 million.

Tax Exempt Bond Financing

Tax exempt bonds are available to finance property in Enterprise Communities. That means lower interest rates to qualified businesses.

Requirements: Businesses must be located in the Enterprise Community.

Limit: Total amount of outstanding Zone bonds allocable to any person and any related person must be less than $3 million per community.
Exemption from restrictions: Qualified Zone bonds are exempt from the general tax exempt bond restriction on financing the acquisition of land and existing property.

Florida's Manufacturing Facility Bond Pool

An allocation within the total Manufacturing Facility Bond Pool of $75 million grants authority to an entity to issue tax exempt bonds. This is not a grant or lease of funds. This low-cost financing can be used for land acquisition, new facility construction and new equipment purchases.

Requirements: The project must create 100 new jobs, and if an expansion, increase employment by at least 10%, pay an average wage at least 115% of the average wage in the area and be in a target industry.
Or, the project must create a substantial economic benefit, implement a key economic development strategy of the community, or save a significant number of Florida Jobs.

Jackson County Development Council can provide you with additional details and application information on any of these business incentive programs.