Alternative Fuels Production Incentive
The Innovation Incentive Program within the Florida Office of Tourism, Trade, and Economic Development provides resources for business projects that allow the state to compete effectively for high-value research and development, including alternative and renewable energy projects. To qualify, an alternative and renewable energy project must involve collaboration with an institution of higher education; provide the state a minimum full return on investment within a 20-year period; include matching funds from the applicant or other available sources; and be located in Florida. Additional criteria may apply. For the purpose of this incentive, alternative and renewable energy means electrical, mechanical, or thermal energy produced using one or more of the following energy sources: ethanol, cellulosic ethanol, biobutanol, biodiesel, biomass, biogas, hydrogen fuel cells, ocean energy, hydrogen, solar, hydro, wind, or geothermal. Incentive awards are subject to state funding availability. (Reference Florida Statutes 288.1089)