Division of Community Development. Bureau of Economic Development

Transcription

1 Division of Community Development Bureau of Economic Development 1

2 Bureau of Economic Development Staff Tom Beck Director Burt Von Hoff Bureau Coordinator Rural Programs Small Business Programs Sherri Martin Brook Pace Barbara Lenczewski Stephen Heiman -Vacant- Jennifer Schrader 2

3 BUREAU OF ECONOMIC DEVELOPMENT ADMINISTERS 16 PROGRAMS 3

4 Rural Economic Development Initiative (REDI) Multi-agency organization that assists rural communities. Responds to the communities issues, needs, and objectives. Provides the best possible service to the communities. 4

5 Rural Areas of Critical Economic Concern State designated areas receive waivers and exemptions for economic incentives. The Governor has designated three Rural Areas of Critical Economic Concern for 5-year designation periods. (RACEC) 5

6 Florida Resource Directory A one-stop source for obtaining information on state and federal programs and resources for community projects: infrastructure, housing, health services, training, tourism development, and community parks. Website: 6

7 Regional Rural Development Grant Program Encourage rural communities to leverage resources by utilizing regional economic development organizations. Grants must be matched by non-state resources. Maximum grant will be $35,000 a year, or $100,000 if it is in a RACEC area. Funding = $0.5 million 7

8 Rural Community Development Revolving Loan Fund Provides loans or loan guarantees to local governments or economic development organizations. Projects that create new jobs and increases the economic vitality of Florida s rural counties. Funding = $1.23 million 8

9 Rural Infrastructure Fund Facilitates the planning and financing of infrastructure projects. Awards are limited to 25% of the annual total allocation Three types of projects: Infrastructure funding Feasibility Studies Pre-clearance Review Funding = $7.5 million 9

10 Black Business Loan Program State funding to Program Administrators (BBICs) that make loans to black businesses that have previously not been able to receive capital. $2.275 Million Appropriation DEO certifies Program Administrators and distributes funding. DEO serves as contract manager for Program Administrators. 10

11 Florida Small Business Credit Initiative (SSBCI) Created in 2010 by the Small Business Jobs Act. Florida was allocated $97.6 million. Three approved programs: 1)Capital Access Program 2)Small Business Loan Support Program 3)Venture Capital Program Deo Website: Efi Website: 11

12 Florida Capital Access Program A loan portfolio insurance program that enables small businesses to obtain credit to help them expand their businesses. $20.6 Million Reserve Fund. Participating loans are originated and serviced by the lender. DEO will administer the program. 12

13 Small Business Loan Support Program A Loan Guarantee Program enables small businesses to obtain loans or lines of credit. $33 Million Reserve Fund. Administered by Enterprise Florida, Inc. (EFI) 13

14 Venture Capital Program Investment capital for start-up and early-stage businesses. $43 Million Fund. Administered by EFI and the Opportunity Fund Management. 14

15 Rural Job Tax Credit Program State tax credits to businesses that create new jobs. Businesses must be located within 36 designated Rural Areas. $5 Million of tax credits annually. DEO processes tax credit applications. 13 Year Totals: 60 approvals $4.3 million tax credits 4,528 jobs 15

16 URBAN JOB TAX CREDIT PROGRAM State tax credits to businesses that create new jobs. Businesses must be located within 13 designated Urban Areas. $5 Million of Tax Credits annually. DEO processes tax credit applications. 13 Year Totals: 181 approvals $19.4 million tax credits 17,980 jobs 16

17 BROWNFIELD AREAS LOAN GUARANTEE PROGRAM Loan guarantees for projects that redevelop Brownfield areas. 50% guarantee for loans that provide affordable housing projects. 75% guarantee for loans that construct and operate a new health care facility. $5 Million Inland Protection Trust Fund. 17

18 Community Contribution Tax Credit Program State tax credit program to encourage private donations to housing and community development projects. $14 Million tax credits are allocated each year. 131 approved projects in Florida. DEO processes community applications and tax credit applications. Expiration Date: June 30,

19 Florida Enterprise Zone Program Five (5) state tax incentives available for businesses. 62 Enterprise Zones in Florida. $67 Million incentives approved in 2009/2010. DEO designates new Enterprise Zones when authorized. December 31, 2015 Website: 19

20 New Markets Development Program State program mirrors federal program new markets program. Encourages capital investment in low income communities. $97.5 million state tax credits allocated in Four (4) Qualified Community Development Entities participate in Florida. 20

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