The Qualified Target Industry (QTI) Tax Refund is a tool available to Florida communities to encourage quality job growth in targeted, high value-added industries. Pre-approved applicants creating jobs in Florida receive refunds on the taxes they pay including corporate income, sales, ad valorem, and certain other taxes.

Eligible applicants pay an average annual wage that is at least 115 percent of the state, metropolitan statistical area (MSA), or the local average wage - a minimum average annual wage of $39,898 for Polk County. The amount of the refunds is equal to $3,000 per new job created. An additional $1,000 "per job" bonus is available for businesses paying 150 percent of the local or statewide average annual wage ($52,041 for Polk County).

In order to participate, the company must apply to Enterprise Florida prior to making a decision to locate in Florida. The community must provide a resolution from the city or county commission recommending the applicant for the incentive and committing to provide a local match equaling 20 percent of the total tax refund. (See attached QTI information sheet). Statutory Reference: Section 288.106, Florida Statutes

Lakeland companies receiving QTI Grants:

Job Tax Credits in Lakeland
Company	Jobs Created	Local Tax Credit (20%)	State Tax Credit (80%)
Pepperidge Farm	80	$86,000	$344,000
Pepperidge Farm	38	$22,800	$91,200
Lockheed Martin(2002)	103	$82,400	$329,600
Lockheed Martin(2005)	100	$80,000	$320,000
Outback Essentials(2007)	24	$14,400	$57,600
Procunier	10	$14,400	$32,000
WellDyne	638	$403,800	$1,615,200

Quick Response Training (QRT) is a customer-driven training program designed to respond quickly to meeting business-training objectives. Workforce Florida, Inc., the state's public-private partnership created to coordinate job-training efforts, administers the program.

Your company would have the ability to select a local training provider - community college, area technical center or university - which will be available to assist in the application process and program development or delivery. Program instructors can be full or part-time educators, vendors, or subject matter experts.
Reimbursable training expenses include:

• instructors'/trainers' salaries;
• curriculum development;
• textbooks/manuals; and
• materials and supplies.

Businesses approved for QRT funding are limited to one grant award per site every two years. Approved training costs are disbursed to the training provider monthly, based on a cost reimbursement and performance method of payment. All QRT funds are subject to availability of funding and contingent on training needs. Awards are made on a first come - first serve basis. (See attached QRT information sheet) Statutory Reference: Section 288.047, Florida Statutes

Lakeland companies receiving QRT Grants:

Company	Jobs Created	Grants
QPI	246	$112,565
GEICO	129	$100,313
GEICO	508	$311,640
Pepperidge Farm	40	$97,125
Pepperidge Farm	78	$65,520
Glendale Protective Tech.	50	$30,639
McMillan/Blodel	52	$97,469
Keymark	139	$97,469
Max Pak	57	$19,312
Mid State Truss	22	$17,850
Lockheed Martin	100	$122,241
Southern Wine and Spirits of Florida	157	$176,715
USCO/JC Penney	590	$218,612
Juice Bowl Products, Inc.	53	$54,233
WellDyne	638	$386,000
TOTALS	2,970	$1,907,703

Incumbent Worker Training (IWT) provides training to currently employed workers to keep Florida's workforce competitive in a global economy and to retain existing businesses. The program is available to all Florida businesses that have been in operation for at least one year prior to application and require skills upgrade training for existing employees. All IWT funds are subject to availability of funding and contingent on training needs. Awards are made on a first come - first serve basis.
(See attached IWT information sheet)

Statutory Reference: Section 445.003, Florida Statutes Lakeland companies receiving IWT Grants:

Job Tax Credits in Lakeland
Company	No. of Employees Trained	Grants
Westworld Telecom Corp.	7	$15,000
Integrated Metal Products	30	$28,200
Advance Stores Company, Inc.	130	$25,973
Alabama Metal Industries	50	$35,200
GEICO	668	$63,410
TOTAL	885	$167,783

Polk Works is a nonprofit corporation that oversees workforce development resources for the citizens and business community of Polk County, FL. Polk Works is available to assist companies with their hiring and recruiting needs. Some of the services they offer include: applicant screening, online application process, inputting new hires, administering testing, conducting job fairs, etc. www.polkworks.org

Polk Works offers a variety of solutions to meet your business needs. Applying for a Polk Works Employed Worker Training Award allows you access to
thousands of dollars to train your current employees if your application is approved. You choose the training that meets your needs, builds your workforce’s skills and impacts your bottom line since you could receive up to 50% of your direct training costs reimbursed. Apply today, awards go fast!

For more information call Laurie McDonald (863) 508-1100 or E-mail laurie_mcdonald@polkworks.org

Economic Development Transportation Fund (Road Fund)

The Economic Development Transportation Fund (Road Fund) may be used to alleviate transportation impediments that adversely impact a company's location or expansion decision. Eligible transportation projects may include improvements such as access roads, turn lanes, and signalization.

The funds may be used for design and engineering costs and construction costs of the transportation project. The governmental unit that will own and maintain the transportation improvement submits the application and is reimbursed after commencement of construction of the facility.

Award amount depends on necessary improvements and represents a grant to the government entity responsible for the improvements. (See attached Road Fund document)

Statutory Reference: Section 288.063, Florida Statues

Lakeland Companies receiving EDTF grants:

Company	Grants
Lockheed Martin	$2,000,000
W.S. Badcock	$2,000,000
Sooner Defense	$2,000,000
Breed Technologies	$2,000,000
Star Distribution	$2,000,000
GEICO	$2,000,000
Publix	$1,920,000
FiberTek	$1,900,000
GTECH	$1,052,000
Pepperidge Farm	$200,000
Dual Tech	$200,000
TOTAL	$17,272,000

Manufacturing Machinery and Equipment Sales Tax Exemption

Your company many be eligible for a 100 percent exemption of the sales and use tax on manufacturing machinery and equipment. In order to qualify for the new business exemption, the machinery and equipment must have been purchased, or a purchase agreement made, prior to the date the business first begins to produce a product for inventory or immediate sale. If a purchase agreement was made prior to the beginning of production, such machinery and equipment must be received within twelve months of the date that production began.

Industrial machinery and equipment is exempt from tax when purchased by an expanding business for the purpose of increasing "productive output" by not less than ten percent.

Statutory Reference: Section 212.08, Florida Statutes

Machinery and Equipment Used for Research and Development

Machinery and equipment, including but not limited to molds, dies, machine tooling, other appurtenances or accessories to machinery and equipment, testing and measuring equipment, test beds, computers and software, whether purchased or self-fabricated, includes materials and labor for design, fabrication and assembly, used predominantly for research and development and used to meet a qualifying research and development goal are exempt from sales and use tax.

Statutory Reference: Section 212.08 (18), Florida Statutes

Pollution Control Equipment Sales Tax Exemption

The sales tax levied on pollution control equipment shall be exempted for any facility, device, fixture, equipment, machinery, specialty chemical, or bioaugmentation product used primarily for the control or abatement of pollution or contaminants in manufacturing, processing, compounding, or producing for sale items of tangible personal property at a fixed location, or any structure, machinery, or equipment installed in the reconstruction or replacement of such facility, device, fixture, equipment, or machinery.

Statutory Reference: Section 212.051, Florida Statutes

Electricity Tax Exemption

The Electricity Tax Exemption is applied to 100 percent of the electricity purchased if 75 percent or more is used to operate machinery and equipment at a fixed location to manufacture, process, compound, produce, or prepare for shipment items of tangible personal property for sale, or to operate pollution control equipment, recycling equipment, maintenance equipment, or monitoring or control equipment used in such operations. The exemption is applied to 50 percent of the electricity or steam purchased if 50 to 75 percent is used in manufacturing. No separate metering is required. For more information on sales tax exemption on Lakeland utilities, please contact Ron Pierce, Lakeland Electric, 863/834-1239.

Statutory Reference: Section 212.08, Florida Statutes

Boiler Fuels Tax Exemption

When purchased for use as a combustible fuel, purchases of natural gas, residual oil, recycled oil, waste oil, solid waste material, coal, sulfur, wood, wood residues or wood bark used in an industrial manufacturing, processing, compounding, or production process at a fixed location in this state are exempt from the taxes imposed by this chapter; however, such exemption shall not be allowed unless the purchaser signs a certificate stating that the fuel to be exempted is for the exclusive use designated herein. This exemption does not apply to use of boiler fuels that are not used in manufacturing, processing, compounding, or producing items of tangible personal property for sale, or to the use of boiler fuels used by any firm subject to regulation by the Division of Hotels and Restaurants or the Department of Business and Professional Regulation. Propane is not a tax-exempt boiler fuel.

Statutory Reference: Section 212.08, Florida Statutes

Repair and Labor Charges Sale Tax Exemption

The Repair and Labor Charges Tax Exemption fully exempts sales tax on labor charges for the repair of, and parts and materials used in the repair of and incorporated into, industrial machinery and equipment which is used for the manufacture, processing, compounding, production, or preparation for shipping of items of tangible personal property at a fixed location within Florida.

Statutory Reference: Section 212.08, Florida Statutes

The Urban Job Tax Credit is an incentive for eligible businesses located in a designated urban area to create new jobs. The credit is $500 per qualified job and can be taken against either the Florida Corporate Income Tax or the Florida Sales and Use Tax.

Lakeland Companies receiving Urban Job Tax Credit :

Company	Grant
1999 Terrace Hotel	$27,500
1999 Discount Auto Parts	$8,000
2000 Publix Super Markets	$10,500
2002 GC Services	$330,000
2002 Publix Super Markets	$26,000
2006 FiberTek	$15,500
TOTAL	$417,500

Lakeland's Enterprise Zone designation become effective on January 1, 2006. An Enterprise Zone, designated by the state of Florida, is a specific geographic area targeted for economic revitalization. Tax savings are offered to businesses and property owners that are located in the Enterprise Zone if they are employing zone residents, rehabilitant real property, or purchasing new business equipment. Companies can receive credits on their state sales tax, corporate income tax and property tax.

Lakeland's Zone is generally located north of Ariana Street and Orange Street, south of I-4, west of Lake Parker and east of the current City Limits.

Lakeland's Enterprise Zone is made up of one contiguous geographic area which encompasses approximately 7.38 square miles and has a population of 21,227 residents.

The Core Improvement Area is  2.353 acres located in the core of Downtown Lakeland. It includes the Downtown Community Redevelopment Area (CRA), the National Historic District and a select area of the Midtown CRA. Non–residential and residential construction inside the Core Improvement Area is eligible to have all impact fees waived except City water, wastewater and fire service.

Please see Core Improvement Area map and Core Improvement exemptions chart  for more details.

The Florida Opportunity Fund is a multimillion-dollar fund of funds program to invest in venture capital funds and expand venture capital activities in Florida. The primary objective of the Fund is to generate returns and expand the availability of venture capital for seed and early-stage businesses in the State. The Fund will invest in angel, seed and early-stage venture funds. In turn, investments such funds can serve as a catalyst for creating new companies with high-wage jobs.

The Fund will target funds that focus on investment opportunities within sectors that are of strategic importance to the State, such as: Life Sciences, Clean Energy, Homeland Security, Defense, Aerospace, Information Technology, Advanced Manufacturing, Advanced Materials. For more information on The Florida Opportunity Fund, please visit the web site or download the data sheet. www.floridaopportunityfund.com

The Florida Growth Fund manages $250 million of capital dedicated to prudent investments in technology and growth related businesses with significant presence in the state of Florida. As part of the Florida Retirement System Pension Plan Trust Fund, the Florida Growth Fund will seek to enhance Florida’s capacity for development, growth and innovation. The Florida Growth Fund is managed by Hamilton Lane, a leading global private equity asset management firm.
On behalf of the Florida State Board of Administration, Hamilton Lane actively pursues investment opportunities for the Florida Growth Fund. Our experienced investment professionals guide these opportunities through our rigorous due diligence process through one of two structures: private equity fund investments or directly into companies through co-investments with other institutional investors.

Fund Partnership Opportunities
The Florida Growth Fund will seek to make meaningful commitments to top tier private equity partnerships identified through Hamilton Lane’s due diligence process. Specifically we look for:Venture Capital, Growth Equity and Small to Mid-Sized Buyouts; Technology, Aerospace, Renewable Energy, Medical and Life Sciences;Businesses domiciled in Florida; Businesses that have demonstrable, material Florida operational presence; and Differentiated return streams and attractive performance track record.

Co-Investment Opportunities
The co-investment portion of the Florida Growth Fund will make investments alongside private equity partnerships based or operating in the State of Florida. Hamilton Lane’s dedicated co-investment team rigorously reviews each opportunity.Specifically we look for: A company headquartered in, or conducting a significant portion of its business in Florida; Profitable companies;Experienced management teams; and Attractive growth trends.

Contact Information: Hamilton Lane would be pleased to hear from you regarding opportunities meeting the mandate of the Florida Growth Fund. Questions regarding this investment program may be directed to the Florida Growth Fund Team at Hamilton Lane:

Hamilton Lane Advisors, LLC
Florida Growth Fund Team
One Presidential Blvd, 4th Floor
Bala Cynwyd, PA 19004
610-934-2222 (Phone)
610-617-9853 (Fax)
floridagrowthfund@hamiltonlane.com

www.hamiltonlane.com
www.floridagrowthfund.com