The Bay Economic Development Alliance (Bay EDA) works with local, regional, and state partners to design customized incentive packages for relocation or expansion projects. Incentives may include tax refunds, exemptions, workforce training support, infrastructure assistance, and cash grants. Award amounts are based on project impact, including job creation, wages, benefits, capital investment, economic impact, and competition from other communities.

Economic Development Ad Valorem Tax Exemption
Bay County, Panama City, and Lynn Haven may reduce local property taxes on tangible personal property and improvements to real property for up to 10 years for qualifying new or expanding businesses.

CareerSource Gulf Coast & Job Center
As one of Florida’s top-performing workforce boards, CareerSource Gulf Coast connects businesses with talent in Bay, Gulf, and Franklin Counties. Services include recruitment, applicant screening and testing, conference space, and HR resources — all provided at no cost.

Streamlined Permitting
Bay County collaborates with state agencies to ensure faster, more predictable permitting for significant economic development projects, while maintaining environmental standards.

Capital Investment Tax Credit (CITC)
Up to 20 years of corporate income tax credits for capital-intensive projects investing at least $25 million and creating 100+ jobs in high-impact sectors such as clean energy, biomedical technology, IT, financial services, transportation equipment, or corporate headquarters.

High Impact Performance Incentive (HIPI)
Negotiated grants for major proects in life sciences, semiconductors, corporate HQs, and related industries. Requires 50+ jobs (25 for R&D) and at least $50 million in investment ($25 million for R&D).

Qualified Defense & Space Contractor Tax Refund (QDSC)
Refunds of $3,000 per net new job for defense, homeland security, and space contractors creating or retaining jobs.

Incumbent Worker Training (IWT)
Provides funds to help existing Florida businesses upskill current employees and remain competitive. Priority is given to targeted industries and designated economic zones.

Quick Response Training (QRT)

Employer-driven program to support training for new or expanding businesses. Eligible expenses such as instructor salaries, curriculum development, and materials are reimbursable.

Work Opportunity Tax Credit (WOTC)
A federal tax credit available to employers who hire veterans, welfare recipients, and individuals from other targeted groups.

Governor’s Job Growth Grant Fund
Provides workforce training grants through Florida’s state colleges and technical centers, as well as funding for infrastructure projects supporting job creation.

Economic Development Transportation Fund (“Road Fund”)
Grants of up to $3 million to local governments for public transportation improvements that directly support company location or expansion decisions.

Governor’s Job Growth Grant Fund
Supports infrastructure projects that enhance economic opportunity and improve business competitiveness.

Triumph Gulf Coast Grant Funding
Funded by BP settlement dollars, Triumph Gulf Coast invests in projects that diversify and strengthen Northwest Florida’s economy. Grants support infrastructure, workforce training, and other initiatives tied to high-wage job creation in the region.

Rural Area of Opportunity (RAO) Funding
Available to designated areas in Florida, RAO funding provides additional grant resources, reduced match requirements, and enhanced state support for infrastructure and workforce development projects that stimulate economic growth in rural communities.