Members
There are a multitude of reasons why South Lake County is home to a diverse
collection of businesses and corporations.
One of the key reasons is that South Lake County offers the total package - a
great business atmosphere and incentives, quality properties and facilities and
a cooperative spirit between corporations and local government. Combined with
South Lake County’s accessibility to major highways and airports and ideal
year-round climate, the area is a perfect location in which to do business.
Companies such as Circuit City, Goodyear Tire & Rubber Company, Marriott,
Domino’s, Carroll Fulmer Trucking, American Hotel Register, Sprint North Supply
and Maritec Industries have recognized the county’s positive attributes, and
have set up either manufacturing plants, distribution centers or corporate
headquarters in the Christopher C. Ford Commerce Park. This industrial park
(strategically located on U.S. Highway 27 at the crossroads of State Road 19 and
the Florida Turnpike) has been successful in attracting major companies,
resulting in the creation of quality jobs in the area.
Businesses interested in expanding current operations or in relocating to the
area can take advantage of a number of incentive programs. The Jobs Growth
Investment Trust Fund has been one of the most effective of these incentives.
The program, which benefits new as well as established companies in the area,
pays cash incentives to companies that create quality jobs in Lake County. The
Impact Fee Deferral Program, which allows a company to defer payment of impact
fees from the date of issuance of building permits to the time of issuance of a
certificate of occupancy, may be used for new construction or the expansion of
industrial/manufacturing facilities.
Another popular incentive is the county’s Fast Track permitting process for
industrial and manufacturing projects. This program, which was recognized with
an award from the National Association of Counties, is credited with expediting
the planning and review method for plan and building permits. The program saves
companies time and money in getting their projects started.
Corporate tenants in South Lake also have access to the Business Assistance
Center (a partnership between Lake-Sumter Community College, the Lake County
Board of County Commissioners, the Sumter County Economic Development Council
and the Service Corps of Retired Executives), as well as other economic
development-oriented businesses, municipalities and agencies. The Business
Assistance Center’s main goals are to provide small business mentoring at little
or no cost and nurture existing businesses.
Individual communities in South Lake County offer additional incentives for
relocating and/or expanding businesses. The City of Groveland offers qualifying
companies that locate or expand
in the city up to a 10-year exemption of city ad valorem taxes on buildings and
equipment. Companies that locate or expand into the City of Mascotte may qualify
for an abatement of property taxes.
In addition, there are numerous state tax incentives that offer exemptions from
sales tax on food and medicine, personal income, state-level ad valorem taxes
and inventory taxes. There are also tax refunds (up to $3,000 per job created
for qualified target industries) and a number of state financing incentives,
including Industrial Revenue Bonds and Enterprise Bonds.
In addition to the impressive array of corporate tenants in the manufacturing
and industrial segment, sports medicine is an emerging industry in South Lake
County. South Lake Hospital’s 150-acre, all-in-one campus is home to the USA
Triathlon National Training Center - which features a 37,000-square-foot fitness
and training center that combines health, education, wellness, a rehabilitation
and sports science/training program all in one convenient location.
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