The City of Sunrise, in cooperation with Broward County, offers relocation incentives to select corporations.
Cash benefits from the City
Are primarily available for headquarter facilities and regional operations that require high-wage corporate employees. Technology-based, value-added operations are also incentive candidates.
May be awarded upon receipt of a certificate of occupancy, or over a specified period of time.
Vary by project, but award amounts generally range from $50,000 to more than $1million.
Cash benefits from the County
May total up to $200,000 per project. (Broward County Job Growth)
Require a dollar-for-dollar match by the City.
Additional incentives may include:
Florida Qualified Targeted Industry (QTI) Program
The QTI Tax Refund incentive is available for companies that create high wage, value-added jobs in targeted high value-added industries such as (but not limited to) communications, corporate headquarters, research and development, manufacturing, and electronic equipment. Pre-approved applicants who create 100 or more new jobs in Sunrise receive tax refunds of $3,000 per new full-time equivalent job created. For businesses paying 150% of the average annual wage, add $1,000 per job; and for businesses paying 200% of the average annual salary, add $2,000 per job. New or expanding businesses in selected targeted industries or corporate headquarters are eligible.
High Impact Performance Incentive (HIPI) Grant
The HIPI Grant is a negotiated incentive used to attract and grow major high impact facilities in Florida. Grants are proved to pre-approved applicants in certain high-impact sectors designated by the Governor's Office of Tourism, Trade and Economic Development. In order to participate in the program, a company must be in a designated high impact sector; create at least 100 new full-time equivalent jobs (if a research and development facility, create at least 75 new full-time equivalent jobs) in Florida in a three year period; and make a cumulative investment in the state of at least $100 million (if a research and development facility, make a cumulative investment of at least $75 million) in a three-year period.
Capital Investment Tax Credit (CITC)
The CITC is an annual credit against the project's Florida corporate income tax for up to 20 years. Eligible projects are those in designated, high-impact sectors (currently silicon technology, biotechnology, biocertain transportation equipment manufacturing, or certain information technology facilities) that create at least 100 jobs and invest at least $25 million in eligible capital costs. Eligible capital costs include all expenses incurred in the acquisition, construction, installation and equipping of a project from the beginning of construction to the commencement of operations. The level of investment and the project's Florida corporate income tax liability for the 20 years following commencement of operations determines the amount of the annual credit. Florida's Corporate Income Tax Rate is 5.5% of apportioned taxable income.
Quick Response Training (QRT) Incentive
QRT is a customer-driven training program designed to assist new value-added businesses and provide existing Florida businesses the necessary training for expansion. This program is customized, flexible and responsive to individual company needs. Workforce Florida Inc. is Florida's innovative private-public partnership for competitive workforce incentives.
Incumbent Worker Training (IWT) Program
The IWT program provides training to currently employed workers to keep Florida's workforce competitive in a global economy and to retain existing businesses. The program is available to all Florida businesses that have been in operation for at least one year prior to application and require training for existing employees.
Economic Development Transportation Fund
The Economic Development Transportation Fund, commonly referred to as the "Road Fund," is an incentive tool designed to alleviate transportation problems that adversely impact a specific company's location or expansion decision. These grants are limited to $2 million and are awarded to the local government for public transportation facility improvements.
For additional information on incentives available to companies relocating or expanding to Sunrise, please contact the City's office of Economic Development at (954) 746-3430.