Programs & Incentives
Micro Loan Program
Click Here for a Printable Application
The Citrus County Small Business Micro Loan Program
was created by the Citrus County EDC and SCORE. It is a
Small Business Community Reinvestment Program which
provides financial assistance to new and existing
businesses and business counseling in Citrus County that
will have economic benefits for future job growth.
These new and existing businesses came to the Citrus
County EDC needing financial assistance for a smaller
amount than lending institutions will allow.
Recently we have expanded the
Micro-Loan Program to allow for assistance up to
$10,000. Our goal is
to give a hand up to these small businesses, to
encourage their endeavors and to be there for them as
they grow into a prosperous new enterprise. Micro Loan
contributors include:
Utility Expansion Program
Click Here for Printable Details and Application
The Citrus County Board of County Commissioners has
developed the Citrus County Economic Development Utility
Expansion Grant/Loan Program to encourage and assist
businesses in the creation of jobs in Citrus County when
the business is limited due to lack of central
utilities. The Board has designated a portion of the
Occupational License Fee funds for allocation, at their
discretion, for businesses that create new jobs through
expansion, start up, or relocation. These funds may be
awarded for specific eligible activities.
This program is intended to encourage and assist in the
creation of jobs in Citrus County, but is not intended
to be a replacement for other funding sources such as
the Federal Economic Development Administration,
Workforce Development, Enterprise Florida, or Community
Development Block Grants.
Economic Incentive Program
Click Here for Printable Details and Application
The Citrus County Board of Commissioners has
developed the Citrus County Economic Development
Incentive Program to encourage new businesses when
targeted. The Board has the authority under Section
125.045, Florida Statutes to provide economic incentives
to provide a stronger, more balanced, and stable local
economy.
This program is intended to encourage and assist in the
creation of jobs in Citrus County, but is not intended
to be a replacement for other funding sources such as
the Federal Economic Development Administration,
Workforce Development, Enterprise Florida, or Community
Development Block Grants.
Job Growth Incentive Program
Click Here for Printable Details and Application
The Citrus County Board of Commissioners has
developed the Job Growth Incentive Grant Program to
encourage new businesses when targeted. The overall goal
of this program is to provide economic stimulus for
Citrus County through job growth incentives.
All relocation, expansion or start-ups must create five
(5) or more new full-time or full-time equivalent
non-retail jobs working on-site at the company’s
facility that is located in Citrus County. The required
number of jobs will be provided and filled within an
agreed number of months from the effective date of the
grant agreement. The company and the EDC will negotiate
a job creation time frame. The agreed upon number of
jobs must be maintained for a minimum of 12 months
commencing upon the company providing the EDC with
verification of compliance by the company.
The base award per application will be $1000.00 per job
created.
Medical Recruitment Incentive Program
Click Here for Printable Details and Application
The Medical Recruitment Incentive Program is one of several economic development initiatives established in cooperation between the Citrus County Economic Development Council and the Board of County Commissioners to attract medical professionals to our community. This incentive program is designed to offset initial government assessed start-up expenses incurred when a physician or group of physicians desire to construct a new medical facility within Citrus County.
Local Small Business Assistance Program
Click Here for Printable Details and Application
The Local Small Business Assistance Program is one of several economic development initiatives established in cooperation between the Citrus County Economic Development Council and the Board of County Commissioners to provide additional job opportunities within the Citrus County economy. This incentive program is designed is designed to offset government assessed expansion costs incurred when an existing business desires to expand within Citrus County.
Tax Abatement Incentive Program
The Tax Abatement Incentive Program is a new economic
development initiative established in cooperation
between the Citrus County Economic Development Council
and the Board of County Commissioners to provide a
property tax refund to new businesses or expanding local
businesses within qualified target industries. This
program can provide a refund to those businesses
investing $500,000 and creating at least 12 jobs with
higher than average wages for the county. The businesses
could receive refunds for up to 10 years on property
taxes paid of up to 100 percent of the taxes assessed on
the new capital investment.
Printable Details and Applications will be available
shortly.
EDC Incentive Programs – A Quick Reference Guide.
This guide is to be only used as a helpful reference
tool when reading through our various incentive
programs. The applications themselves dictate in further
detail the requirements for all of the programs and
should be used as the definitive guide.
For more information about applying for any of these programs please contact the Citrus County EDC at (352)-795-2000 or email us at inquire@citrusedc.com