Business Recruitment Incentive Program(Suspended until October 2014) The purpose of the proposed Business Recruitment Incentive Program (BRIP) is to support the recruitment of new retail, office, and manufacturing occupants and/or new retail, office, and manufacturing building construction in the City of Palm Bay Community Redevelopment District. The Bayfront Community Redevelopment Agency has allocated grant funds to property owners as incentives to recruit new businesses and new construction.
As the goal of the program is to encourage business growth in the Bayfront Community Redevelopment District, this program is available to building and property owners who may need the incentive in order to offset the costs of tenant improvements, permit fees, building renovation, new construction or brokerage commissions. The program will be used to attract both new retail, office, and manufacturing occupants that locate in the Redevelopment District in existing buildings, as well as new retail, office, and manufacturing construction.
The program will be offered through the Bayfront Community Redevelopment Trust Fund. The City’s Bayfront Community Redevelopment Department will administer the program.
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Targeted Business Incentive ProgramIt is the intent and purpose of the Targeted Business Incentive Program to promote new development and redevelopment in the Bayfront Community Redevelopment District (BCRD) by inducing additional investment through the new location or expansion of any desirable target business in the BCRD.
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Enterprise ZoneThe Palm Bay Enterprise Zone (EZ-0502) is located in the Northeast section of the city. It includes Commerce Park Drive, Kirby Industrial Circle and the surrounding area. Please see the map for streets and boundaries. Learn more
SMART AreasAs part of an aggressive Economic Development Program to assist existing businesses expand, to help create new businesses, and to make Palm Bay competitive with adjacent cities in Brevard County and other cities in the State of Florida, the City of Palm Bay has designated four (4) areas in the City as Sustainable Market and Reinvestment Target (S.M.A.R.T.) Areas.
One of the SMART Areas, the Riverview SMART Area, includes a large portion of the industrial and commercial areas of the Bayfront Community Redevelopment District (BCRD). By creating the SMART Areas, property owners in the designated areas, including those in the BCRD, can take advantage of state financial and economic incentives to help in either redeveloping or developing their properties. Learn more