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TAMPA -- Hillsborough County's Small Business Job Creation Program has paid $267,000 to subsidize the creation of 86 jobs — about $3,100 per job — since the program launched in March.
At the outset, the Hillsborough County Commission allocated $500,000 for the subsidy program, meaning $233,000 in funds remain available. The program helps support job creation by subsidizing up to 50% of a new position's wage for three months, with a contribution cap of $3,900 per new employee. To date, 47 businesses have applied for funding.
Companies with 10 or fewer employees are eligible for funding. Firms must also be based in Hillsborough County, and have a business tax receipt from the county office.
Jobs receiving subsidies must be full-time, and must last at least three months. Subsidized positions must be filled by Hillsborough County residents.
Funds are being paid out on a first-come,first-served basis, the county says, and local companies may be subsidized for up to three new jobs. Additional information is available at the county's business development website.
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