Find the Right Program for You
The City of Cape Coral Economic Development Office (EDO) is your point of contact for city, county and state incentives. Please contact the EDO for up-to-date information about incentive terms and conditions, as well as for application contacts.
If you have a specific project in mind, the EDO team may be able to design customized economic development incentives to help you achieve your business goals. A number of specific incentives are highlighted below:
Small Business Incentive Fund
The Small Business Fund was created to address the need to support development of small businesses. Funds from this program can be requested regardless of company size. It was established in recognition that a majority of Cape Coral businesses are small businesses and don’t normally qualify for other existing incentives as they’re geared toward larger impactful developments. The goals and priorities of the Economic Development Incentive Fund are not necessarily tied to job creation but will look at other funds being invested, employee wages, whether it involve new construction or renovation and if the project is impactful through fulfilling a community need or impacting a certain geography. Funds are limited and all projects will be subject to being scored by committee utilizing established criteria.
Cash Incentive Program
The Cash Incentive Program provides reimbursement to targeted businesses for certain expansion or relocation expenses. It provides incentives of up to $1,500 per job created with wages above the average county wage. One requirement of the Cash Incentive Program is the creation of at least 5 new permanent full-time jobs, with 75% of the new employees current or planned Cape Coral residents. Applications for Cape Coral’s Cash Incentive Program are available at the Economic Development Office.
Impact Fee Deferral Program
These Florida incentives defer certain impact fees for large sectors for up to 10 years. Commercial and industrial shell buildings are also eligible for deferrals. Under this program, the city defers payment of road and utility capital improvement impact fees for new commercial or industrial building projects. Impact fees are charged to property owners to defray the incremental costs for public infrastructure. The length of the deferral is based on the type of business, the number of jobs created by the business, and how many of those jobs employ Cape Coral residents. Apply through the Cape Coral Economic Development Office.
Shell Building Impact Fee Deferral
This incentive also is available to property owners of shell buildings, which are usually built as speculation. Shell building impact fees may be deferred for up to 36 months or until the issuance of permits for interior completion, whichever is earlier. The Shell Building Deferral Application can be made through the City of Cape Coral’s Department of Community Development.