Gadsden County Eyes $75K Grant to Boost Local Business Growth

Gadsden County Eyes $75K Grant to Boost Local Business Growth

Gadsden County is making strides to enhance its business landscape as it seeks a $75,000 grant from the Florida Department of Commerce. This financial boost will support the second phase of the Strategic Sites Inventory Study, a critical initiative aimed at increasing the county’s competitiveness for business investment. Local leaders are keen to attract developers and create opportunities that benefit the community significantly.

The first phase of this study, completed back in 2016, identified priority areas for growth. Now, Phase Two aims to conduct environmental and engineering reviews to pinpoint barriers to development and estimate the costs required for improvements. Gadsden County Grant Administrator Dr. Kassandra McGlonn highlighted that additional funding opportunities are on the table to further these developmental efforts. Should this grant be approved, work on Phase Two could kick off later this year, providing a much-needed boost to the county’s marketing capabilities and inviting new employers into the fold.

Competitive Advantages

What makes Gadsden County enticing for businesses? A lot can be said for Florida’s pro-business tax policies and competitive business costs. The Sunshine State boasts limited corporate taxes and no personal income tax, which is a huge draw. Moreover, Gadsden County’s designation as a Rural Area of Opportunity (RAO) by the State of Florida allows additional considerations for developing companies. This includes access to resources like the state’s Rural Infrastructure Fund and federal Community Development Block Grants for infrastructure projects.

To further entice companies, Gadsden County offers a menu of tax advantages: there’s no corporate income tax on limited partnerships or subchapter S-corporations, and exemptions from property taxes on business inventories and goods-in-transit for up to 180 days. This kind of setup is appealing, especially for new and expanding businesses, which can take advantage of various sales tax exemptions. It’s clear that Gadsden County is doing its homework to create a welcoming atmosphere for all types of industries.

An Evolving Economic Development Strategy

Recently established in 2023, the Gadsden County Department of Economic Development is at the forefront of these initiatives. This department focuses on business retention and expansion across all six municipal districts and unincorporated areas of the county. With a small team committed to supporting local businesses, they aim to provide tools and resources that promote sustainability and growth.

The department provides various assistance options for businesses considering relocation or expansion in the area. From financial advantages and site selection assistance to workforce training services designed to help companies find skilled talent, Gadsden County is putting a solid support system in place. Their commitment includes annual visits to local businesses to ensure they have access to the tools they need to succeed.

Gadsden County is clearly on an upward trajectory, blending local initiatives with state advantages to create a thriving environment for businesses of all sizes. Whether it’s attracting new employers or supporting existing ones, the community is well-positioned to reap the economic benefits of its proactive measures.

For additional details about incentives and opportunities in Gadsden County, you can check out Gadsden County Economic Development and stay updated with their programs via Gadsden County Department of Economic Development on LinkedIn.

As Gadsden County continues to seek funding and implement new strategies, local residents can look forward to a more prosperous future alongside the growth of their beloved community.