Department of Commerce

Strategic Business Development

For assistance, call 850-245-7105 or visit http://www.floridajobs.org/office-directory/division-of-strategic-business-development/about-strategic-business-development

What is the purpose of the division?

The Division of Strategic Business Development provides support for attracting out-of-state businesses to Florida, promoting the creation and expansion of Florida businesses and facilitating Florida's economic development partnerships.

What are the duties of the division?

The division's duties include several economic development functions, such as project development facilitation and support, as well as incentive and grant performance measurement.

In fulfilling these duties, the division partners with Space Florida and VISIT FLORIDA, direct-support organizations of the Department of Commerce. Space Florida is a special district that uniquely serves as the single point of contact for all space-related functions of the State of Florida. VISIT FLORIDA serves as the state's official tourism marketing corporation and official source for travel planning to visitors across the globe.

What incentives are available for businesses each year?

The Department of Commerce administers several economic development incentive programs, including but not limited to those listed below.

  • Capital Investment Tax Credit established under s. 220.191, Florida Statutes
  • Research and Development Tax Credit established under s. 220.196, Florida Statutes
  • Urban High-Crime Area Job Tax Credit established under s. 212.097, Florida Statutes, and authorized under s. 220.1895, Florida Statutes
  • Rural Job Tax Credit established under s. 212.098, Florida Statutes, and authorized under s. 220.1895, Florida Statutes
  • Florida Job Growth Grant Fund established under s. 288.101, Florida Statutes
  • Brownfield Redevelopment Bonus Refund established under 288.107, Florida Statutes
  • Entertainment Industry Sales Tax Exemption established under s. 288.1258, Florida Statutes
  • Tax Exemption for Semiconductor, Defense, or Space Technology Sales established under s. 212.08(5)(j), Florida Statutes

How many incentives are paid to businesses each year?

The Department of Commerce reports that in Fiscal Year 2021-22, the state paid $20,642,994 in incentives to 114 businesses.

How are these activities funded?

Fiscal Year: 2023-24
Title Fund Dollars Positions
PROGRAM: ECONOMIC DEVELOPMENT
ECONOMIC DEVELOPMENT
761,443,824
61.00
TOTAL
761,443,824
61.00

Updates

Economic Programs. The 2023 Legislature enacted Ch.2023-173, Laws of Florida, which

  • changes the name of the department to the Department of Commerce (department);
  • eliminates Enterprise Florida, Inc. and shifts its duties to the department;
  • designates VISIT FLORIDA, the Florida Sports Foundation, and the international offices program as direct-support organizations of the department; and
  • repeals 16 programs and incentives, including the Office of Film and Entertainment.

Where can I find related OPPAGA reports?

 

Florida Economic Development Program Evaluations - Year 10, Report 22-06, November 2022
Florida Economic Development Program Evaluations Year 8, Report 20-08, December 2020
Florida Economic Development Program Evaluations - Year 7, Report 19-16, December 2019

Where can I get more information?

Other Reports
The Auditor General reports on department operations are available on its website
2022 Incentives Report, Department of Commerce


Performance measures and standards for the department may be found in its Long Range Program Plan.

What are the applicable statutes?

Chapters 20, 220, 288, 290, 311, and 331, Florida Statutes

Whom do I contact for help?

Department of Commerce, 850-245-7105
Website