Enterprise Zone expands to Seminole Heights and Sulphur Springs.

Enterprise Zone Expansion Raises Hopes For Neighborhoods
The Tampa Tribune Fri, 12 May 2006 7:16 PM PDT
TAMPA - City officials say they expect good things within 10 years as blighted areas take advantage of an expanded business enterprise zone.

The state-approved zone grew this year from 12 square miles to about 20 square miles, adding neighborhoods in Seminole Heights, Sulphur Springs, New Tampa, West Tampa and larger swaths of east Tampa"

"The Tampa City Council on Thursday voted to appoint an 11-member volunteer enterprise zone board. Nominees include Bill Duvall, president of Tampa Homeowners, an Association of Neighborhoods; Joseph Robinson, president of Sulphur Springs Action League; Lena Young-Green, president of Tampa Heights Civic Association; Sam Kinsey, chairman of the East Tampa Community Revitalization Partnership; and Tom Keating, president of the Ybor City Chamber of Commerce."

"Collins said the board, which will meet about three times a year, will promote the zone's benefits, including sales tax refunds on building materials for business owners or individuals.
"We have no marketing budget," Collins said. "We're doing a lot of guerrilla marketing."
Duvall said reaching out to neighborhood, civic and business organizations should be a priority."

From the City of Tampa Website
Enterprise Zone Programs

East Tampa and Ybor City are designated CRA's located within the State Enterprise Zone. Additional eligible areas within the Enterprise Zone are Palmetto Beach, Channelside, West Tampa, and Sulphur Springs. The Enterprise Zone program offers financial incentives to businesses located in designated areas in urban and rural communities. These incentives are offered to encourage private investment in the zones as well as employment opportunities for the area’s residents. Such incentives include jobs tax credits, property tax credits, sales tax refund for building materials, machinery and equipment and the Community Contribution Tax Credit program. For more information, please contact the Enterprise Zone liaison at 813/274-5732."

For more info see Enterprise Florida

Jobs Tax Credit (Sales Tax): Urban Enterprise Zones
Allows a business located within an Urban Enterprise Zone to take a sales and use tax credit for 20 or 30 percent of wages paid to new employees who reside within an enterprise zone. To be eligible, a business must create at least one new job. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Jobs Credit).

Jobs Tax Credit (Corporate Income Tax): Urban Enterprise Zones
Allows a business located within an Urban Enterprise Zone to take a corporate income tax credit for 15 or 20 percent of wages paid to new employees who reside within an enterprise zone. The Corporate Tax Credit cannot be used in conjunction with the Sales Tax Credit.
Business Equipment Sales Tax Refund: Rural and Urban Enterprise Zones
A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in an Enterprise Zone for at least 3 years.
Building Materials Sales Tax Refund: Rural and Urban Enterprise Zones
A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in an Enterprise Zone.
Property Tax Credit (Corporate Income Tax): Rural and Urban Enterprise Zones
New or expanded businesses located within an enterprise zone are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property.
Sales Tax Exemption for Electrical Energy: Rural and Urban Enterprise Zones
A 50% sales tax exemption is available to qualified businesses located within an Enterprise Zone on the purchase of electrical energy, if the municipality has reduced the municipal utility tax by at least 50%.
Community Contribution Tax Credit Program: Rural and Urban Enterprise Zones
Allows businesses a 50% credit on Florida corporate income tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in an enterprise zone to be eligible for this credit.