State and local incentives
As a designated rural county, Nassau County can offer many incentives to new and expanding businesses that choose to operate in the area. The Nassau County Economic Development Board (NCEDB) is here to assist you through the process. Our team can act as a resource to help you identify the incentives you may be eligible for and guide you through the process of applying for them. Please find a list below of local incentive programs. For a listing of state programs, please visit SelectFlorida.
The NCEDB can assist your company with several programs that can offset expenses incurred by relocating your business to Nassau County. We can assist with permitting, occupational licensing, or other local issues that your company may encounter.
Local Incentives
Nassau County Economic Development Grant: Nassau County offers qualified businesses a return of a portion of ad valorem property taxes (taxes due on real and personal property) based on the new capital investment and jobs created by the business.
You can apply for the EDG Grant by clicking HERE.
The business must be in a targeted industry, create at least ten new jobs, and create at least $1 million in new capital investment in the county. The amount of the annual grant is based on the size of the project. Businesses meeting the basic requirements will be eligible to receive a grant of 100 percent of the increase in taxes resulting from the new capital investment in the first year, declining to 80 percent the second year, 60 percent the third year, and so on, until the grant phases out at the end of the fifth year.
| Creating at least: | And Paying at least: |
Then Eligible for |
||
|---|---|---|---|---|
| Jobs | And Capital Investment | Nassau's Average Wage | % E.D. Grant | For Number of Years |
| 10-20 | $1 million - $2 million | 100% | 100/80/60/40/20% | Over 5 years |
| 21-30 | >$2 million - $5 million | 115% | 50% | 7 years |
| 31-50 | >$5 million - $10 million | 115% | 50% | 10 years |
| 51-100 | >$10 million - $20 million | 115% | 75%/50% | 1st 5 yrs/2nd 5 yrs |
| 101+ | >$20 million | 115% | 75%/50% | 1st 10 yrs/next 5 yrs |
| Targeted Industries | |||||||
|---|---|---|---|---|---|---|---|
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Overview of currently offered incentives
More information on the EDG Incentive can be found in Nassau County’s Municipal Code at Chapter 1, Article X Sec. 1-181 of the County’s Code of Ordinances or here:
For more information on taxes in Nassau County, please visit our Taxes page.
Source: SelectFlorida
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