Bond

• Industrial Development Revenue

Grant

• Community Development Block Grant (CDBG)
• Job Growth Incentive (JGI)

Loan

• Black Business Investment Corporation
• Business Loan Fund of the Palm Beaches, Inc. [External Link]
• Palm Beach County Section 108 Loan Program
• Small Business Micro Loan Program - TCEF [External Link]

Taxes

• Ad Valorem Tax Exemption

Other

• Brownfields
• Business Incubation Program
• Historically Underutilized Business (HUB) Zone
• Technical Preparation Program- Film & Marine

 

Ordinance. The Board of County Commissioners adopted Ordinance No. 2005-004 on February 15, 2005 which established an exemption from certain ad valorem taxation (County taxes only) for new and expanding business properties to encourage economic development in Palm Beach County. This program will remain in effect for a ten (10) year period; i.e., from August 2004 until August 2014. Some but not all exemptions granted to businesses during that period will extend beyond August 2014.

Program Overview. A business granted an exemption for improvements to real and/or tangible personal property must have a positive economic impact on the County’s economy, including the creation and maintenance of new full time jobs. The program’s criteria requirements reduce the prospects that an exemption granted to a business will adversely impact other local businesses that provide similar products and/or services. The product sales of the facility for which the exemption is sought must exceed 50% outside Palm Beach County. Although a business may satisfy the minimum requirements to apply for an exemption, the type and location of the business, and the number, type and average annual salary of the new jobs, will be important considerations when the application is reviewed. Such factors will influence staff's recommendation to the Board on whether to grant an exemption and on the number of years to grant an exemption - from one (1) to ten (10) years. If the Board adopts an exemption ordinance, the business will also be required to enter into a separate agreement with the County to ensure that the business will satisfy its job creation and maintenance obligations.

Application Deadline & Fee. The only filing deadline each year is March 1^st. The application fee is $1,000.00, and the application must be submitted to the County's Economic Development Office.

100 Australian Avenue, Suite 500
West Palm Beach, FL 33406
phone:  (561) 233-3671
fax:  (561) 656-7543 e-fax
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