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Florida is ranked as one of the best states to do business due to the low cost of labor, low regulations, and zero state income tax.

The City can consider tailor-made incentives for new, expanding, or relocating companies and new developments. 

In Florida, there is...
  • NO Corporate Income Tax on limited partnerships
  • NO State Personal Income Tax
  • 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 & Equipment
  • NO Property Tax on Goods-in-Transit for up to 180 days
  • 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
  • NO Sales and Use Tax on Goods Manufactured or Produced in Florida for Export Outside the State

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Cape Competes Incentive Program

Apply for a City of Cape Coral Economic Development Incentive

Incentive Programs and Grants

Breaking Barriers to Business (B2B) Program  
The B2B program is designed to remove barriers to business development and promote growth in the South Cape CRA.  Businesses and developers that have submitted applications for permits to build, expand, or renovate facilities located in the CRA can receive grant assistance to pay for costs incurred to meet the City’s Land Development Code requirements. --> Click here for more information on program goals, eligibility criteria, how to apply, deadlines, and evaluation criteria.

Ad Valorem Tax Incentive Program
The Ad Valorem Tax Incentive Program offers a limited exemption from payment of municipal ad valorem taxes (property taxes) to qualified businesses/developers looking to invest and create new jobs. The exemption applies to the assessed value of new improvements and tangible personal property. The exemption will not be applicable to the land upon which the business is located. -->See details

Business Infrastructure Grant
The Business Infrastructure Grant Program encourages new non-residential construction, building/facility expansions or renovations for offices; life sciences, healthcare, biotechnology, pharmaceuticals, and medical devices; information technology, telecommunications, communications, and cybersecurity; financial and professional services, banking, insurance, securities, and investments; corporate or regional headquarters; engineering, legal, accounting, and consulting; manufacturing, logistics, and distribution; marine-related industries and wholesale distribution and warehousing. The program provides incentives to developers to assist with site development costs. -->See details

Cape Collaborates - Small Business Partner Program
This program will encourage new small business start-ups, expansion of existing businesses, and relocation of out-of-market businesses to the city by providing eligible small businesses with increased access to capital through a zero-interest, five-year forgivable loan. -->See details

CreativeCape Arts Incentive Program
The creative economy contributes to the economic vitality of a community. According to Citizens for Florida Arts, Inc., a vibrant arts community keeps residents and their discretionary spending close to home, attracts visitors who spend money, and helps local businesses thrive. The CreativeCape Arts Incentive Program seeks to foster cultural development in the city, specifically within the City of Cape Coral Community Redevelopment Area. Should the CRA adopt this Program, the City and CRA may incentivize individuals, nonprofit cultural organizations, and other entities to support arts and culture businesses operating in or relocating to the city. -->See details

Demolition Assistance Grant Program (CRA)
The Demolition Assistance Grant Program is an initiative by the CRA created to encourage replacing aging and blighted structures in the South Cape area. The Program is designed to incentivize and expedite the removal of obsolete buildings and make way for redevelopment by providing grant funds to facilitate the demolition of existing principal and secondary/accessory structures within the CRA. --> See details

Enhanced Property Value Recapture Grant
The Enhanced Property Value Recapture Grant is designed to attract larger-scale private capital investment and/or redevelopment into a mixed-use or nonresidential project site to create a destination, town center, or mixed-use development; redevelop properties within the Community Redevelopment Area; expand the tax base, create employment opportunities, or attract targeted industries and businesses. -->See details

Lee County Incentives
Lee County’s Economic Development Office also has an experienced team in place to help new, expanding, and relocating businesses identify the best incentives for their particular corporate needs.

Lee County Industrial Development Revenue Bonds (IDRB)
IDRBs are tax-exempt securities issued by the Lee County government, providing long-term, below-market-rate financing of capital requirements for new and expanding manufacturing facilities. The minimum bond is $3 million, and the maximum bond is $10 million per borrower. The borrower is solely responsible for principal and interest repayment. View IDRB Guidelines here.

Gold Key Grant Program

The Lee County Economic Development Office and the Lee County Industrial Development Authority offer financial assistance to small businesses leveraging the US Commercial Services Gold Key Matching service. 

View State of Florida Incentives