Ft. Myers, FL - At a time when tightening credit markets are limiting dollars for economic development, one Florida county has responded with a $25 million cash incentive fund that can provide significant capital for expansion and relocation.
Lee County, situated in the heart of Southwest Florida, has launched the FIRST (Financial Incentives for Recruiting Strategic Targets) Initiative as a negotiated, performance-based incentive to attract and grow high-value business projects.
The FIRST Initiative focuses on companies that:
The Initiative is managed by the Lee County Economic Development Office (EDO), which guides businesses through the application process, evaluates proposed projects and reports recommendations to the board of county commissioners. The board makes final decisions on all incentive applications.
“In today’s economy, it is rare for a local government to have the capability of offering cash incentives such as the FIRST Initiative,” said James W. Moore, director of the Lee County EDO. “Through prudent planning and conservative financial management, county leaders have positioned our community to have a strong competitive advantage in the recruitment of high-value employers.”
Initiative grants will be performance-based, with incentive payments based on hiring, wage and capital investment criteria. Target industries include life sciences, aviation, shared services, information technology and manufacturing among others.
The FIRST Initiative is among several local and state incentive programs offered through the EDO. Other opportunities include:
For more information, contact the EDO at (800) 330-3161 or visit www.LeeCountyBusiness.com.