Supporting job creation in Northwest Florida
Gulf Power is committed to business expansion and growth in Northwest Florida. To do our part, we offer incentive rates for businesses who relocate here.
Our Business Incentive Rates are for new or expanding businesses located within Gulf Power’s service area that meet certain load, job creation and capital investment requirements. Qualifying businesses receive a base rate electric price incentive over either a four-year or nine-year period, depending on size. There are four incentive electric load categories — small, medium, large and extra large. The potential savings may range from $13,000 for a 200-kilowatt business customer to more than $4.7 million for a 5-megawatt customer.
For more information, please contact our Community and Economic Development team at (850) 444-6654.
How much will my business save?
How much businesses save each year through our Business Incentive Rate depends on their electricity load size, and which year of the program they’re in. There are four incentive electric load categories — 200 kW+ (small), 350 kW+ (medium), 1 MW+ (large) and 5MW+ (extra large). Refer to the chart below for the percentage reduction in base electricity charges by load size.
| Year | 200 kW+ (Small) | 350 kW+ (Medium) | 1 MW+ (Large) | 5 MW+ (Extra Large) |
|---|---|---|---|---|
| 1 | 20% | 40% | 60% | 60% |
| 2 | 15% | 30% | 45% | 53% |
| 3 | 10% | 20% | 30% | 47% |
| 4 | 5% | 10% | 15% | 40% |
| 5 | 0% | 0% | 0% | 33% |
| 6 | N/A | N/A | N/A | 27% |
| 7 | N/A | N/A | N/A | 20% |
| 8 | N/A | N/A | N/A | 13% |
| 9 | N/A | N/A | N/A | 7% |
| 10 | N/A | N/A | N/A | 0% |
To qualify for the incentive, participants must hire and maintain the following number of full-time employees within one year of receiving power service under the rate:
- 200 kW+ — 10 full-time employees
- 350 kW+ — 25 full-time employees
- 1 MW+ — 50 full-time employees and capital investment of $1 million
- 5 MW+ — 50 full-time employees and capital investment of $1 million
- Sign an affidavit verifying that the availability of the incentive is a significant factor in the customer’s decision to request service from Gulf Power and must agree to a minimum 5-year service agreement for small, medium and large businesses or a 10-year service agreement for extra large businesses.
- Submit an affidavit verifying the current number of full-time employees on an annual basis.