Downtown Miami Economic Incentives
Known as the “Gateway to the Americas,” Downtown Miami is the epicenter of Miami’s bustling economy. A host of business incentives are available to entrepreneurs interested in local business opportunities.
Tenant Improvement Grant
Funded by Miami Downtown Development Authority and the Miami-Dade Empowerment Trust, this program reimburses a new tenant business up to $23.00 per square foot for fixed interior improvements. The program is only available for existing buildings over 25 years old, excludes certain types of businesses, and requires a minimum 5-year lease. The program is available only in the Central Business District and targets the Flagler Street Corridor. Tenant and landlord apply together and applications require renderings and business plan.
CRA Building Rehabilitation Program
Funded by Miami’s South East Overtown/Park West and Omni Community Redevelopment Agencies, this program assists properties and businesses with exterior improvements up to $65,000.00 with a matching grant.
New Markets Tax Credits
The New Markets Tax Credit (NMTCs) program is nationally recognized for steering low interest, private capital into distressed census tracts to capitalize hard to fund commercial and residential projects. In an effort to bring this focus on the City of Miami, the Economic Development Department created a Community Development Entity (CDE) for purposes of applying and allocating New Markets Tax Credits.
Empowerment Zone
Miami DDA and our partners offer a range of financial incentives that encourage targeted investments in targeted areas.
Enterprise Zone
As custodians for downtown, Miami DDA will help you navigate and understand the market potential of the various sub-districts as well as to identify investment/acquisition opportunities.
State & Local Incentives
The Beacon Council is responsible for facilitating the application process for financial incentives companies may qualify for in the Miami-Dade County area. As Miami-Dade County’s official economic development partnership, The Beacon Council has helped to secure millions of dollars for hundreds of companies over the years.
