7 Site Selection Benefits in Collier County
In the region of southwest Florida, you can’t wander much farther south than Collier County. Framed by 34 miles of sandy beaches, this large county accounts for ⅓ of the region’s land mass. It encompasses Naples, Marco Island and Everglades City, and has experienced a population growth that is 10% higher than the state average.
So why is Collier County such a magnet for businesses, tourists and residents? Nestled in a paradisaical setting, it pushes an economic development strategy dedicated to quality, high wage job growth that also supports a positive quality of living for residents.
The strategy is working well. In 2016, Naples was named the happiest, healthiest city in the US, and projected to be one of the top metro areas in the country to experience economic growth in 2017. Even despite the ripples of the recession, Forbes has reported that southwest Florida is home to some of the top metro areas for employment growth in 2017, which is great news for employers and employees alike!
7 Benefits of Site Selection in Collier County
The benefits of planting your company’s roots in Collier County are as abundant as the palm trees you’ll find on every corner. The men and women behind the local chambers of commerce and economic development organizations offer multiple programs and incentives to help local businesses succeed.
Some of them include:
1) The Basic Industry Growth Promotion Incentive: This incentive offers grants of $1,500 per job for projects that generate at least 10 new jobs during a 12 month period. Participation doesn’t require any minimum capital investment, and there is an additional $500 per job bonus available for jobs that meet the qualifications for “Collier Clean Quality Jobs.”
2) Qualified Target Industry Tax Refund Program (QTI): Businesses in the export industry looking to hire new employees can get a tax refund of $3,000 or more over the span of 4 years based on certain qualifications.
3) Advancing Long-term Production Strategy: If you’re looking to do some heavy hiring, this incentive rewards projects producing a minimum of 25 new jobs, so long as the average wage of each position meets the minimum salary of 150% of the state’s average.
4) Industrial Development Revenue Bonds: Also referred to as “private activity bonds,” these are issued by a local government agency to help finance capital projects for companies, including manufacturing plants, industrial plants, warehousing and distribution facilities, corporate headquarters, research parks, development parks, tourism facilities, healthcare facilities, airports, ports, and more.
5) Tamiami Angel Fund: The first Angel Fund established in Southwest Florida, it invests in the early stages of Florida-based companies.
6) VIP Permitting Process: This pro-bono service is composed of a team of development professionals dedicated to providing assistance to business owners who are undergoing the application process for their permit. They help businesses complete and expedite the approval process.
7) Soft-Landing for International Companies: We know expanding into the United States can be a daunting task for our international friends. The Naples Accelerator specializes in making this an easy process supporting companies with everything they need to enter the U.S. market from providing a prestigious Naples address to legal assistance, marketing advice, access to capital, and navigating the cultural norms of being in the United States.
Bring Your Business to Collier County
If you’re a site selector or business owner looking to bring a new business to Collier County or a nearby location, the Southwest Florida Economic Development Alliance (SWFLEDA) is here to help you take advantage of the many benefits available. Contact SWFLEDA President Eric Berglund at firstname.lastname@example.org or call 844-707-SWFL for more information.