Economic Development Incentive Program

The purpose of this program is to encourage and assist new and existing companies to locate or expand their facilities in Clay County, thereby enriching the economic and quality of life assets for all the county’s citizens.

Any business locating, expanding or making physical improvements to their facilities in the county is eligible to participate, as long as the business meets the following requirements:

Required Investment

A business must make a minimum capital investment of $5,000, which qualifies a business for 10% of that investment (up to $1,000) in incentive funding.

Additionally, a capital investment of $10,000 or more may qualify a business for a total incentive up to $2,000.

Job Creation Requirement

Any business receiving incentive funds must create or retain a minimum of one new job within Clay County.

Use of Incentive Funds

A business may use the incentive funds provided by the county for the purchase or acquisition of any hard assets necessary for the establishment or improvement of that business. This is to include remodeling or construction of a facility, the purchase of equipment, infrastructure needs and improvements, and site improvements and needs such as parking facilities. Incentive funds may not be utilized to provide operating capital or debt service by the company, nor can they be used to purchase or lease real estate.

Use of Funds in Conjunction with Other Incentive Programs

Incentive funds provided by this program may be combined with other state, county, and city programs (as allowed under those programs) to benefit the business. Payment by the county will be made on a reimbursement basis of actual expenses made by the company, as outlined and approved in the company’s application.

Required Application for Participation

An application using the form provided must be received by the Clay County Community Development Coordinator’s Office prior to the start of any portion of the project. Companies are advised to include a copy of a brief business plan with the application.