Small Business Assistance Programs

Small Business Health Care Tax Credit

The Small Business Health Care Tax Credit, part of the newly enacted Affordable Care Act, was designed to encourage small businesses and organizations to offer health insurance coverage to their employees. It is specifically targeted to help businesses that primarily employ lower-income workers. The credit is available to employers that pay at least half of the premiums for single health insurance coverage for their employees. Small businesses can claim the credit for 2010 through 2013 and for any two years after that. Forms, instructions and detailed eligibility information are available at www.IRS.gov. 

Inner City Capital Connections (ICCC) Program

A free program providing Web-based training workshops, a daylong educational program on equity and growth financing, and a one-day event connecting participants with investors. The program is hosted by the Initiative for a Competitive Inner City (ICIC), a nonprofit research and strategy organization.

Since the launch of the program in 2005, nearly 200 inner city companies and 150 equity providers have been selected to participate. Participating companies have raised more than $335 million in capital and grown by an average of 23 percent.

Eligible companies must:

• Be headquartered in or have 51 percent or more of a physical operations presence in an economically distressed urban area.
• Be a for-profit corporation, partnership or proprietorship with revenues of more than $2 million in 2009.

For more information about nominating a company for the ICCC, click here.

HIRE Act

The Hiring Incentives to Restore Employment (HIRE) Act is a new federal program designed to promote job creation. The program was allocated $17.5 billion to spur hiring and help small business owners.

HIRE Overview:

• Payroll tax holiday for the remainder of 2010 for employers who hire workers that have been out of work for at least 60 days:
  • Includes a $1,000 bonus tax credit for every new employee retained for 52 weeks, provided that the employee's wages for the last 26 weeks do not drop below 80 percent of what she/he received for the first 26 weeks
  • Hire must occur between February 3, 2010 and January 1, 2011
• Extension of surface transportation programs through December 2010
• Extension of enhanced small business expensing (Section 179) to allow a write-off for certain capital expenditures up to $250,000
• Direct payment option for certain tax credit bonds (qualified school construction bonds, qualified zone academy bonds, clean renewable energy bonds, and qualified energy conservation bonds)

Economic Gardening Bills

The State Legislature passed 'economic gardening' bills that will help stimulate Florida's economy. Economic gardening is a strategy designed to grow jobs from within a region or state. The bill passed as part of Governor Crist's economic stimulus plan and focuses on helping small businesses with financing working capital purchases, training existing employees and hiring new employees. This pilot program began in June 2009. To view the full bill, click here.

The Small Business Development Center at University of North Florida is the primary contact for this program in our region. You can contact them at (904) 620-2476 for more information. 

GrowFL

A new, statewide visionary program that targets 'second-stage' businesses, offering sophisticated tools and elite staff. GrowFL was created by the Florida Economic Gardening Institute (FEGI), a program funded by the Florida Legislature to cultivate 'growth companies' – privately-held, resident firms that employ 10-50 workers, generate $1 million to $25 million, and had revenue and employment growth in three of their last five years. GrowFL was designed to help growth companies grow and create jobs by providing access to an elite team of business analysts specially trained in a variety of disciplines. GrowFL will deploy its team of analysts at no charge to provide qualified companies with technical assistance and access to a suite of information and decision-making tools. The program is a unique statewide partnership that includes the Florida Economic Development Council, Enterprise Florida, Workforce Florida, the Florida High Tech Corridor Council and others. Companies may apply at www.GrowFL.com or call (407) 423-8006 for more information.

Emerging 200 Initiative

Jacksonville is one of five new cities being added to the U.S. Small Business Administration's Emerging 200 initiative; a federal program designed to assist small businesses within inner cities. Twenty small businesses in each city will be invited to participate in the program where owners of the selected businesses will be taught strategies to grow and improve their business. The other cities being added to the program are Detroit, Dallas, Denver and Portland. Visit www.sba.gov/e200 to learn more about the program.

The Small Business Development Center at University of North Florida is the primary contact for this program in our region. You can contact them at (904) 620-2476 for more information.

Enterprise and Empowerment Zones

Jacksonville's Enterprise and Empowerment Zones provide numerous state and federal incentives to businesses operating within them. The JEDC works as the liaison and program administrator between local businesses and the state to facilitate the program's incentives. Click here to see if your business is located within the Enterprise or Empowerment Zone.

Contact Joe Whitaker at (904) 630-1624 or josephw@coj.net or click here for more information about the programs.

State and Local Incentives

There are several incentives available teligible and approved companies looking to relocate or expand in Jacksonville. Program requirements vary but generally depend on wages, location and industry. Click here for more information.