ECONOMIC DEVELOPMENT TRANSPORTATION FUND
The Economic Development Transportation Fund, otherwise known as the “Road Fund”, offers up to $2 million in grants through the State of Florida to alleviate transportation challenges that impact the location or expansion of headquarter operations or manufacturing/recycling facilities. The correction of the challenge must serve as an inducement for the company’s location, retention or expansion in Florida and create or retain job opportunities.
Projects that facilitate economic development by overcoming location-specific transportation challenges are eligible (e.g. access roads, signalization, road widening, etc. on behalf of a qualified company).
- Companies that create or retain less than 100 full-time jobs may be eligible for up to $200,000
- Companies that create or retain more than 100 full-time jobs may be eligible for $200,000 – $1,000,000
- Companies that create or retain more than 200 full-time jobs may be eligible for $1,000,000 – $2,000,000
The unit of government that owns and is responsible for the maintenance of the transportation improvement applies to Enterprise Florida and obtains approval of the transportation project prior to the company’s final location decision.
For an application to be considered, a company must estimate and disclose:
- The capital investment it intends to make in the facility
- The number of permanent full-time jobs to be created or retained at the facility
- The average hourly wage, excluding benefits, for the new or retained permanent full-time jobs
Enterprise Florida determines if an applicant meets the program requirements. Eligible projects are presented to the State of Florida Office of Tourism, Trade and Economic Development for funding consideration.
Funding recommendations are based on:
- The amount of funds requested
- The number of permanent full-time jobs created and/or retained
- The economic and demographic conditions of the community in which the location is being considered
- The degree of inducement for the project’s location/expansion/retention decision
After funds for the transportation project are approved, the company may proceed with its final site selection decision.
The City of Orlando serves as the liaison between the applicant and the State of Florida.
For more information, please contact Business Assistance at 407.246.2821.