City of Clearwater Economic Development Ad Valorem Tax Exemption (ED AVTE)
About The Program
Under Florida law, the city of Clearwater may grant to certain qualifying new and existing businesses an economic development ad valorem tax exemption (ED AVTE) to encourage job creation and capital investment. Tax exemptions may be provided for citywide ad valorem taxes on the assessed value of improvements to real property and on tangible property attributable to the expansion. The ED AVTE is a direct reduction - up to 75% - of real and tangible property taxes for a period of up to 10 years for business improvements such as a new building, building expansion, or new equipment purchased in connection with the relocating or expanding activity.
The purpose of the ED AVTE program is to attract higher wage jobs within qualified target industries, promote sustainable economic development and encourage additional investment in the City. The program also enables Clearwater to remain competitive within the region by offering economic development incentives.
Qualifying businesses must create the minimum number of jobs required within these specified industries:
Manufacturing- 10 jobs Qualified Target Industries (QTI)1 - 10 jobs
Export Sales2- 25 jobs Office- not in targeted industries- 50 jobs
- Average wages for new jobs created must be above the average wage for Pinellas County as published by Enterprise Florida, Inc. in January of the year in which the application for ED AVTE is filed.
- $100,000 minimum capital investment (excluding land).
- Conditions and limitations apply.
Pinellas County Economic Development Ad Valorem Tax Exemption
Qualify for the City of Clearwater Economic Development Ad Valorem Tax Exemption, and pursue the Pinellas County Economic Development Ad Valorem Tax Exemption program to increase your exemption for businesses that locate or expand within Pinellas County and create jobs. Exemptions on Ad Valorem property and tangible taxes are available for qualifying businesses.
To learn more contact Denise Sanderson, Director, Economic Development and Housing Department.
1 As defined by Enterprise Florida, Inc. Examples include: Aviation, Aerospace, Corporate Headquarters, Environmental Technology, Information Technology, Life Sciences, Manufacturing, and Security/Defense. www.eflorida.com.