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1. Background & Purpose
The City of Miami Beach is invested in economic resiliency through economic diversification. New or existing businesses in the City of Miami Beach may be eligible for a performance-based incentive known as the Job Creation Incentive Program (JCIP). The purpose of the JCIP is to strategically attract companies and expand existing businesses within the City of Miami Beach while increasing the number of quality, high-wage jobs in the community. The applicant must create or relocate a minimum of ten (10) new, fulltime equivalent jobs which average annual wages meeting or exceeding 125% of the County’s average wage at the time of the application.
2. Eligibility
The City of Miami Beach JCIP will be available to new-to-market businesses or expanding businesses that will either hire or relocate, a minimum of ten (10) new employees to the City of Miami Beach within a four (4) year period for New-to-Market businesses or three (3) year period for existing businesses.
The Program is available to the following industries:
- Financial/Professional Services
- Technology
- Headquarters including regional headquarters
The Program is available to the following industries:
- Arts and Culture
- Cryptocurrency, Blockchain, Web3, and decentralized finance
- Health and Wellness
- Hospitality and Tourism
- Sustainability and Resiliency
The City Commission, at its discretion, may waive the eligible industry requirement at the request and recommendation of the City Manager.
a. Companies applying for the JCIP Program must be “new-to-market” or an “expanding” business already operating within the City of Miami Beach. New-to-market businesses may relocate from anywhere outside of the City of Miami Beach.
b. Requirements for Expanding Businesses at the time of application:
- An expanding business must either own its office space property or have an executed multi-year lease (3-year minimum) for the office location within the City of Miami Beach.
- An expanding business must have a valid Miami Beach business tax receipt (BTR) and may not have any pending City fees or fines, or be involved in any litigation with the City of Miami Beach.
- An expanding business must be properly licensed and approved by the State and County as applicable.
c. All awarded Expanding businesses and New-to-Market businesses must meet the requirements above when the incentive will be claimed and disbursed for each eligible fiscal year.
d. Businesses that do not report employees’ wages are not eligible for assistance under the JCIP Program. The JCIP is contingent on annual funding availability, City Commission approval, and the execution and continued compliance with the requirements of an agreement between the City and the applicant, and is not to be construed as an entitlement or right of an applicant or property owner.
3. Requirements
a. New Job Category: A New Job must be a fulltime equivalent position (minimum of 2,080 hours annually) and shall:
- be created in the City of Miami Beach and add to the City’s total job base;
- add incrementally to the company’s payroll;
- result in a net increase in the number of employees of the applicant company; and
- involve only a new employee working on-site (at least partially) at the company’s facility located in the City of Miami Beach.
A New Job excludes an existing employee on current payroll of the business at the time of the application.
b. Relocated Job Category: A Relocated Job includes fulltime equivalent positions (minimum of 2,080 hours annually) currently identified on the company’s payroll at the time of application.
- Only New-to-Market companies (moving to Miami Beach) can utilize relocated jobs as part of the incentive application.
- Existing Miami Beach companies seeking to expand operations in Miami Beach may not utilize relocated jobs as part of the job creation requirement.
c. Job Creation Timeline: Approval of the JCIP application and agreement by the City Commission must occur before the jobs are added or relocated. A business that enters into an incentive agreement with the City of Miami Beach and is located in or relocating to existing office space that does not require significant tenant improvements must add the minimum number of jobs (10) within an agreed to number of months after the effective date of the incentive award. The company and the City of Miami Beach will negotiate a job creation/relocation timeframe.
d. Living Wage Requirement: The JCIP will not be available to companies that pay any of their employees less than the Living Wage Rate as defined by Section 2-8.9 of the Code of Miami-Dade County, as adjusted annually by the Department of Small Business Development or its successor department, or as defined by Section 2-408 of the Code of the City of Miami Beach and by choosing the higher rate of both. Companies receiving JCIP awards must continue to pay all its employees no less than the Living Wage Rate to remain eligible for the Program.
e. Wages of New Jobs Created or Relocated: New Jobs or Relocated Jobs must pay an estimated Average Annual Wage at least equal to 125% the average of wages in Miami-Dade County or the State of Florida (across all industries or occupations) as determined by Miami-Dade County or the State of Florida using the most currently available data as determined by the City of Miami Beach and by choosing the higher rate.
f. Job Creation: Participating businesses must create at least ten (10) New Jobs within four (4) years for New-to-Market Businesses or within three (3) years for Expanding Businesses. The time begins to toll once the business begins operation in the City of Miami Beach (designated by issuance of a BTR) or once the Agreement is executed, whichever is later.
g. New or Relocated Jobs must be maintained for a minimum of one (1) additional year. City of Miami Beach staff will verify compliance with New Job creation and wage requirements as specified in the City Commission approved JCIP application/agreement prior to any disbursement of City of Miami Beach incentives. The Company must agree to furnish all documents necessary for City of Miami Beach staff to verify the Company's compliance with the New Job or Relocated Job salary requirements pursuant to the City of Miami Beach JCIP application/agreement.
h. Taxes, Fines or other Fees: Where a Company is delinquent in paying its taxes, fines, or any other fees due to the City of Miami Beach, the City of Miami Beach shall withhold Incentive funds until the Company is current. Where a Company is more than one (1) year delinquent, the Company's City of Miami Beach incentive award shall be canceled, and the Company shall be disqualified from participating in the Program.
i. Media Announcement: Applicant must (a) mention the City of Miami Beach by name within its initial press release announcing the new office location, (b) at least forty-eight (48) hours in advance, provide the exact date and time of when the press release will be published, and (c) at least forty-eight (48) hours in advance, provide a copy of the press release. The City’s Marketing and Communications Department will also issue a press release and media coverage.
j. Media Appearances: The company must provide an employee representative, of at a minimum a senior level executive position, for a minimum of four (4) engagements in year 1, two (2) engagements year 2, two (2) engagements in year 3, and if applicable, two (2) engagements in year 4, to assist with recruitment efforts of the City of Miami Beach to attract additional companies to the City. Required engagements will consist of a presentation, panel discussion, interview, quote for media story, or comparable engagement.
4. Incentive Award
The amount of the JCIP award is determined based on the information provided and verified in the application process and requires approval by the City Commission. The actual award will be determined after the Company has begun operations, and at the end of each City of Miami Beach fiscal year, upon the verification of New Jobs or Relocated Jobs as specified in the City Commission-approved application/agreement, and all other obligations set forth in the application/agreement and the Resolution approving authorizing the award.
The maximum award amount is based on the number of employees brought or relocated to the City of Miami Beach during the initial move, and any subsequent new hires. For expanding companies already located in the city, the maximum award is based on the New Jobs created.
The incentives over the four (4) year or three (3) year period after the applicant’s start of operations or the execution of this agreement, whichever is later, may not exceed:
- $600 per employee for the first 50 jobs (minimum of 10)
- $400 per employee for each job added between 51 – 100
- $250 per employee for each job added above 100
Applicant may be eligible for the following bonuses for new hires only:
- An additional $125 per employee if a company is located within the North Beach area, as defined by the City of Miami Beach
- An additional $125 per employee if new hire received a degree from a public university, private university, or technical school located within Miami-Dade County and graduated within three (3) years of the hire date
- An additional $125 per employee if previously unemployed or employed below the Living Wage Rate immediately preceding employment with company
- An additional $150 per employee if their primary residence is within the City of Miami Beach
Applicants specializing in technology and/or financial services industry subcategories related to cryptocurrency, blockchain, web3, decentralized finance, sustainability, resiliency, hospitality, tourism, health and wellness, and arts and culture are eligible for additional incentives, and may not exceed:
- $650 per employee for the first 50 jobs (minimum of 10)
- $450 per employee for each job added between 51 – 100
- $300 per employee for each job added above 100
Applicants specializing in technology and/or financial services industry subcategories related to cryptocurrency, blockchain, web3, decentralized finance, sustainability, resiliency, hospitality, tourism, health and wellness, and arts and culture are eligible for additional bonuses for new hires and relocated employees:
- An additional $175 per employee if a business is located within the North Beach area, as defined by the City of Miami Beach
- An additional $175 per employee if new hire received a degree from a university, college, or technical school located within Miami-Dade County
- An additional $175 per employee if previously unemployed or employed below the Living Wage Rate immediately preceding employment with Applicant
- An additional $200 per employee if their primary residence is within the City of Miami Beach; and
A Company may not receive more than $60,000 in incentive awards in any single fiscal year, even if all the New Jobs are created or relocated in one (1) year. A Company may not receive more than $240,000 in award payments over the four (4) year period for new-to-market or $180,000 in award payments over the three (3) year period for expansions.
The City Commission, at its discretion, may waive the applicable $180,000 or $240,000 total award cap at the request and recommendation of the City Manager.
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