(Miami-Dade County, FL) -- On Tuesday, June 4, 2013, the Miami-Dade Board of County Commissioners unanimously adopted an ordinance proposed by Commissioner Jean Monestime that restores local incentives for job creation and business investment in economically distressed areas.
The legislation is expected to give a boost to businesses seeking to open or expand in lower income neighborhoods through the State Enterprise Zone program. The program provides a mix of State and local incentives to invest in economically challenged communities.
Commissioner Monestime’s ordinance allows businesses which qualify for the Enterprise Zone local incentive program to seek a rebate for water and sewer connections and impact fees charged to these businesses. Currently, businesses which locate or expand in an Enterprise Zone can reduce their state tax liability, but local incentives had ended in 2005. This ordinance revives utility and impact fee incentives in order to drive greater business investment in his District and other parts of Miami-Dade County covered by the Enterprise Zone program.
“This is an important tool we now have to attract long-overdue investment to our community,” said Commissioner Monestime. “I am committed to finding as many opportunities as possible to grow businesses, and the jobs they create, within the urban core. Private investment incentives are critical to the economic revival of our communities.”
Read the legislation here.