City of Hollywood Incentives
Economic Development Ad Valorem Tax ExemptionThe City of Hollywood offers an Ad Valorem Tax Exemption of up to 25% of the city portion (up to 50% in the Liberia Area Business Corridor) of Ad Valorem Taxes for a period not to exceed 8 years for qualifying new or expanding businesses that invest at least $250,000 in capital improvements and create new jobs. The award and amount of the exemption requires City Commission approval.
Local Alternative Economic Development Incentive ProgramEligible businesses that make a capital investment of not less than $500,000 in a target area or $1,000,000 in a non-target area may qualify for financial incentive payments from the city. The amount of the incentive is at the discretion of the City Commission and is based on a point scale that considers factors such as the number of jobs created, salary level of the jobs created, amount of capital investment and longevity of the business in the city. Each point makes a business eligible for an annual payment of $1,000, up to a maximum annual payment of $100,000. The maximum payment to any eligible firm over its lifetime cannot exceed $500,000.
For more information on these programs, please contact our Economic Development Team at 954.921.3620.
Community Redevelopment Agency (CRA) Programs Properties that fall within the City of Hollywood Community Redevelopment Agency (CRA) Beach and Downtown area may apply for the below incentive programs, which are specifically for this designated area.
For more information about these grant programs and how to apply, please visit www.hollywoodcra.org or call 954.924.2980.