Lake Economic Area Development Partnership

Site Selection

Site Selection

Available Properties

sites and buildings

Site Selection

Incentives

Tax Incentives and Rates Drive Success in Lake County

Competitive incentive options and tax structuring help support a high quality of life. Lake County’s commitment to economic viability and sustainability is evident through its tireless efforts to foster a pro-business climate, as well as its willingness to invest in companies for the benefit of residents and the local economy.

Average Permit Processing Times

XX Days

Commercial Altercations

XX Days

Commercial New Buildings

XX Days

Site Development

Average Site Development Permit Processing Times

XX Days

Commercial Altercations

XX Days

Commercial New Buildings

XX Days

Site Development

Average Review Cycles

XX Days

Commercial Altercations

XX Days

Commercial New Buildings

XX Days

Site Development

Incentive Opportunities (State & Local) – funds, programs, permitting assistance, utilities, etc.
Tax rate/abatement/exemption/credit information
Approval & Compliance information

Lake County, Florida has

  • NO state personal income tax guaranteed by constitutional provision
  • NO corporate income tax on limited partnerships
  • NO corporate income tax on subchapter S-corporations
  • NO corporate franchise tax on capital stock
  • NO state-level property tax assessed
  • NO property tax on business inventories
  • NO sales tax on manufacturing machinery and equipment
  • NO property tax on goods-in-transit for up to 180 days
  • NO sales and use tax on goods manufactured or produced in Florida for export outside the state
  • NO sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging
  • NO sales/use tax on co-generation of electricity

Incentives are available to qualifying relocating and expanding companies on a case-by-case basis with job creation, quality of wages and capital investment being the significant deciding factors. Our most popular incentives are detailed below:

Lake County Economic Development Grant

The exemption was implemented to support economic growth and enhance the county’s competitiveness. To be eligible, a business must be in industry categories: manufacturing, corporate headquarters, research and development, global logistics, homeland security/defense, aviation, aerospace, information technology, life sciences, clean technology, financial or other professional services, emerging technologies, or innovative technology including but not limited to new or advanced methods of processing or delivery of goods or services. There are three tiers of eligibility for this program.

Tier 1

Company must hire at least ten (10) new fulltime employees who make at least 115% the average annual wage for Lake County and make a capital investment of at least one million dollars ($1 million) in the establishment, relocation or expansion of their business in Lake County.

Tier 2

Company must hire at least twenty-five (25) new fulltime employees who make at least 115% the average annual wage for Lake County and make a capital investment of at least twenty-five million dollars ($25 million) in the establishment, relocation or expansion of their business in Lake County.

Tier 3

Company must hire at least one hundred (100) new fulltime employees who make at least 115% the average annual wage for Lake County and make a capital investment of at least one hundred million dollars ($100 million) in the establishment, relocation or expansion of their business in Lake County.

For more details, please contact Tim Vanderhoof at 352-764-4123.

Table A: Manufacturing Businesses – Tier 1
YR1YR2YR3YR4YR5
100%80%60%40%20%
Table B: All Other Targeted Businesses – Tier 1
YR1YR2YR3YR4YR5
80%60%40%20%10%
Table C: Manufacturing Businesses – Tier 2
YR1YR2YR3YR4YR5YR6YR 7YR8YR9YR10
100%90%80%70%60%50%40%30%20%10%
Table D: All Other Targeted Businesses – Tier 2
YR1YR2YR3YR4YR5YR6YR 7YR8YR9YR10
80%70%60%50%40%30%25%20%15%10%

Lake County Transportation Impact Fee Waiver-Reimbursement Program

Lake County Board of County Commissioners created the transportation impact fee waiver program for those same targeted industries and businesses that qualify and are granted approval of the Tier 2 or Tier 3, Lake County Economic Development Grant.

Duke Energy Economic Development Rider

Economic Development Rider (ED-1): This rider offers discounts over five years on the demand and energy charges for new loads over 500 kW demand when stipulated employment and/or investment conditions are satisfied.

Economic Re-Development Rider (EDR-1): This rider offers discounts over three years on the non-fuel BA-1 tariff charges for new loads over 350 kW demand when stipulated employment and/or investment conditions are satisfied.

Quick Response Training (QRT) Grant

The QRT Grant is available to new or expanding businesses to help fund customized training for new employees. Reimbursable training expenses include instructors’/trainers’ wages, curriculum development and textbooks/manuals. Because this program is customized, flexible, and responsive to individual company needs, funds are determined on a case-by-case basis.

Site Selection

Opportunity Zones

An Opportunity Zone is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment.

Lake County, Florida has six designated Opportunity Zones.

In total these Opportunity Zones have a population of approximately 32,000. That represents 9% of the county’s total population of 370,000.