State and local incentives
As a designated rural county, Nassau County is able to 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 Enterprise Florida.
The NCEDB can assist your company with a number of programs that can offset expenses incurred by relocating your business to Nassau County. We can provide assistance 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.
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 |
| Aviation & Aerospace | Health & Life Sciences | Manufacturing | Defense & Homeland Security | Information Technology | Financial & Professional Services | Logistics & Distribution | Cleantech |
|---|---|---|---|---|---|---|---|
| Corporate Headquarters Research and Development |
|||||||
|
Aircraft & aircraft parts manufacturing MRO of aircraft & space vehicles Navigation instrument manufacturing Flight simulator training Space vehicle & guided missile manufacturing Satellite communications Space technologies |
Biotechnology Pharmaceuticals Medical device manufacturing Laboratory & surgical instruments Independent or assisted health care Elderly & non-elderly health care Medical tourism |
Automotive & marine Automotive supplies Specialty industrial Food & beverage Precision machining & machine tooling Plastics & rubber Clean transportation fuels & technologies Heavy equipment Original equipment (OEM) Power storage / batteries Tool & die Propulsion systems |
Optical instruments Navigation aids Ammunition Electronics Military vehicles Shipbuilding & repair Computer systems design Simulation & training Tracking devices Port security |
Modeling, simulation & training Optics & photonics Software Telecommunications Electronics manufacturing & testing Data centers Health care IT Supply chain management IT |
Banking Insurance Securities & investments Engineering Legal Accounting Consulting |
Global logistics Warehousing & distribution Materials handling & processing Logistics software development Assembly, repackaging & kitting Distribution centers Supply chain management |
Biomass & biofuels processing Energy equipment manufacturing Fuel cells & energy storage technologies Photovoltaic Environmental consulting Solar, wind & ocean energy equipment manufacturing |
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: Enterprise Florida
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