Resources & Incentives

The greater Downtown Clearwater area is a Community Redevelopment Area (CRA) generating Tax Increment Financing funds that are invested back into the downtown through a variety of infrastructure improvements as well as façade improvement grants, payment of impact fees, and more. In addition to being a CRA, portions of the downtown area are classified as a Brownfields Area (allowing for environmental site assessment funding), a Small Business Administration HUBZone (a Historically Underutilized Business Zone that is an empowerment contracting program) and an Enterprise Zone (providing tax incentives to businesses employing residents from the area). These designations allow significant tax incentives for companies in this area and those that bring jobs to the downtown core.

The City of Clearwater and Pinellas County participate in the Qualified Target Industry (QTI) tax refund program through the state of Florida. The QTI tax refund is a job incentive available to the City of Clearwater to encourage quality job growth in targeted high value-added businesses and corporate headquarters. For more information on these incentives and assistance with relocating your business, call the City of Clearwater Economic Development and Housing Department at (727) 562-4220.

Incentives
HUBZone
The HUBZone Empowerment Contracting program provides federal contracting access opportunities for qualified small businesses located in distressed areas. A small business to be eligible must be located in a designated census tract, must be owned and controlled by one or more U.S. Citizens, and at least 35% of its employees must reside in a HUBZone. Eligible designated census tracts in the City of Clearwater are 259.02, 262.00 and 268.08.

Brownfields
In 1997, the Florida Legislature enacted the Brownfields Redevelopment Act to provide incentives for the private sector to redevelop abandoned, idled, or underused industrial and commercial properties where expansions or redevelopment is complicated by actual or perceived environmental contamination. The City of Clearwater has a federal and state designated Brownfields area.

The City of Clearwater administers one of the most successful Brownfields programs within the state. Since 1998, it has been awarded over $3.1 million from state and federal agencies. The Brownfields program provides individual grants in the designated Brownfields area for Phase I and Phase II environmental site assessments.

Enterprise Zone
An enterprise zone is a geographical area targeted for economic revitalization. Incentives are available to eligible businesses located in the Enterprise Zone must meet the following requirements: Either pay Florida corporate income tax or collect and pay sales and use tax.

Financial incentives offered under Florida’s Enterprise Zone Program: