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:
Change of Use Road Impact Fee Waiver
Businesses considering Cape Coral as their location now have another reason to choose the city. City Council has suspended road impact fees for businesses moving into existing buildings. That means if a business with a higher-impact use moves into an existing building, it is not charged an added road impact fee. Cost savings for businesses could be significant.
The Cape Coral Economic Development Office (EDO) and local business groups strongly supported this waiver program.
Cape Coral’s road impact fee incentive program is effective Oct 2013 thru March 2015.
Cash Incentive Program
The Cash Incentive Program provides reimbursement to targeted businesses for certain expansion or relocation expenses. It provides incentives of up to $3,000 per job created with wages above the average wage, and $1,500 per job that equals the average 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 this Cape Coral, Florida Cash Incentive Program are available at the Economic Development Office.
Impact Fee Deferral Program
These Florida incentives defer certain impact fees for larget 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.
The Shell Building Impact Fee Deferral is also 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.