Cape Coral is an excellent place to start a business. Read on to learn some of the business resources and incentives offered to business owners in the area.
Business Resources and Incentives
Cape Coral is a thriving Florida city with a lot to offer its residents and business owners. If you have a business in Cape Coral, Florida, or are thinking about starting one, read on to learn some of the best resources and incentives the city has to offer.
Small Business Incentive Fund
Small businesses certainly benefit from having funding. One incentive Cape Coral offers its small businesses is the Small Business Incentive Fund.
This fund was created to address the need to develop small businesses throughout Cape Coral. In fact, most businesses in Cape Coral are small, but many of these business owners don’t qualify for any other program.
It’s important to note that funds for this program can be requested regardless of company size. Additionally, funds are limited, and the committee may score all projects based on specific criteria.
Cash Incentive Program
Are you a business owner that has gone through an expansion or incurred relocation expenses? If so, the cash incentive program may be the right program for you.
This program provides reimbursement of up to $1,500 per job created with wages that are above the county’s average wage.
There is one requirement in particular that businesses should be aware of. To qualify, the company must have generated at least 5 new permanent full-time jobs, with 75% of those employees being Cape Coral residents or employees that plan to become residents.
Impact Fee Deferral Program
If your business is a large sector, the Impact Fee Deferral Program is an excellent program to consider. This program enables businesses to defer certain fees to cut costs for up to 10 years.
With this program, the city of Cape Coral will defer payments of road and utility capital improvement impact fees for new commercial or industrial building projects.
It’s important to note that the length of the deferral will depend on the type of business you have, the number of jobs created by the company, and how many employees are Cape Coral residents.
Shell Building Impact Fee Deferral
Another type of deferral program is the Shell Building Impact Fee Deferral. This deferral is designed for property owners of shell buildings. These fees can be deferred for up to 36 months or until permit issuance for the interior has been completed (whichever is earlier).
Having the right resources is important for any successful business. Cape Coral has an excellent economy and is a business-friendly environment. If you have a business in Cape Coral or plan to start one, be sure to check out these resources and incentives.