Give Your Business an Edge

The Local Jobs Grant Program helps attract businesses in specific industries to Indian River County. Businesses that create and maintain 5 or more higher-paying (equal to or higher than 75% of the county average annual wage) full-time jobs are eligible. The grant amount ranges from $3,000 to $7,000 per job based on the salary of the new job and is paid out over three years. Businesses that locate within the Indian River County/City of Vero Beach Enterprise Zone are eligible for a 10% bonus. Targeted industries include:

• Manufacturing
• Warehouse and distribution
• Information technology
• Emerging technologies
• Life sciences
• Clean energy 
• Financial and professional services 
• Aviation and aerospace 
• Arts, entertainment, and recreation

The nonprofit CareerSource Research Coast facilitates On the Job Training Grants to partially reimburse for new hires while they train, as well as Employed Worker Training Grants to offset costs to train existing employees. The organization also helps recruit and screen employees for businesses at no cost.

The Indian River Board of County Commissioners is able to grant special incentives based on a company’s job creation, wage levels, and property tax situation. Those incentives could include cash incentives, assistance with land leasing or purchases, payments or financing of county impact fees, or infrastructure improvements.

The Board of County Commissioners or city councils are given the final say in granting an Ad Valorem Tax Exemption for increased value due to property improvements. This allows county or municipal tax exemptions for new or expanding businesses that create new jobs that meet state-specified criteria around number of jobs, wages, and sales factor. The exemption may last for up to 10 years.

Indian River County will guarantee county utility deposits for water and sewer, up to $10,000 for qualifying businesses. Businesses must be within a targeted industry and have a good credit history. Other local incentives include grant application assistance, expedited permit processes, and more.

Florida has no personal state income tax, providing a welcoming environment for entrepreneurs and business owners. The state also offers sales tax exemptions on manufacturing equipment, parts, labor, and more. Find more information about state tax and business incentives at SelectFlorida.

Federal incentives include Opportunity Zone land development west of I-95, which provides tax benefits like deferred capital gains tax for qualified investments. Indian River County is also part of a Foreign Trade Zone (FTZ #218) for eligible businesses importing raw materials for manufacturing or assembling products shipped to other countries. This designation provides advantages around tariffs, duties, and customs entries.