Incentives

City Incentives

The City of Oviedo has a robust menu of incentives available for targeted industries and small businesses that seek to relocate or expand in Oviedo.

Oviedo's Targeted Industries Include

• Communications
• Computer Software and Hardware
• Corporate Headquarters
• Finance and Insurance
• Laser Technology
• Medical Labs and Technology
• Photonics
• Professional, Scientific and Technical services
• Research, Development and Testing
• Simulation, Modeling and Training
• Space Technology, Aviation and Aerospace

Incentive Programs Available

Oviedo has the following incentive programs available:

• Jobs Growth Incentive Program: A cash incentive for new or expanding targeted industries and the new jobs created, up to $2,000 per new job.
• Impact Fee Assistance Program: Impact fee credits for City charged impact fees for new or expanding targeted industries and the new jobs created, up to $2,000 per new job.
• Incubator Business Rental/Lease Subsidy: City pays up to $12,000 in one year of rental subsidies to incubator program graduate companies that locate within the City.
• Ad-Valorem Tax Abatement: City-based ad-valorem taxes may be abated for up to 10 years for qualifying targeted industries' new construction, facility improvements or new equipment installed on-site.
• Expedited Permitting: Oviedo provides expedited permitting services for all business expansion and relocation projects.
• Incentive Partnering: The City of Oviedo partners with Seminole County and the State of Florida to provide matching funds and access to State, Regional and National grants and incentive programs for qualifying target industry expansions and relocations.
• Applicants should contact the City Manager regarding program eligibility and funding availability. Additional information regarding the City of Oviedo's performance based business recruitment and retention incentives is available on the City's website.
  

County Incentives

The Board of County Commissioners established a Jobs Growth Incentive (JGI) Trust Fund for both new and existing companies. Seminole County will consider providing incentive dollars for items such as training, relocation expenses and development costs for companies that satisfy selected job creation and wage criteria. Preference is given to new construction and to companies locating in targeted areas within the County.