Economic Development Cash Incentive Program
The Escambia County Cash Incentive Program establishes an Economic Development Incentive Fund to provide grant monies to qualified businesses in order to defray costs incurred as a result of relocation or expansion.
The following criteria are considered in awarding grants from the economic development incentive fund:
- Minimum average wage: Positions at new or expanding companies must equal 100 percent or more of Escambia County's average annual wage, not including benefits. The Board of County Commissioners may approve exceptions to the minimum average wage requirement on a case-by-case basis.
- Minimum number of jobs created or retained: An expanding business must create at least ten new jobs within one year. A new business must create at least ten new jobs within two years.
- The grantee must be designated as a target industry or business as defined by the Board of County Commissioners pursuant to an adopted resolution. Non-targeted industries may be eligible for consideration if proposed expansion or relocation is scheduled to occur within a targeted area (i.e., CRA areas, enterprise zones, other areas identified by the Board of County Commissioners) pursuant to an adopted resolution.
- Any new jobs created must be permanent, full- time positions with employer paid benefits including, but not limited to, health insurance and retirement benefits, or must provide the option to purchase health insurance and retirement benefits.
- For the purposes of this incentive, any new jobs created must retained for a period of at least three years from grant award.
- Any funds received must be expended within a specified time frame from grant award.