FloridaCommerce Announces Launch of the Rural Community Investment Program to Support Small Businesses in Rural Communities

TALLAHASSEE, Fla.-Today,FloridaCommerce announced the launch of the Rural Community Investment Program (RCIP), a new initiative passed into law during the 2025 legislative session, designed to strengthen small businesses in Florida's rural communities by providing tax credits to rural investment companies for their investments in rural businesses. This program will unlock at least $140 million in new investments in rural communities over the next 5 years.

Through the program, investment funds will issue loans or venture capital investments to businesses located in Florida's rural communities with fewer than 250 employees. For every $4 invested in those businesses, an investment authority will receive $1 in tax credits. A maximum of $35 million in tax credits can be issued - $7 million each year for 5 years. To participate in the program, investment funds must have experience working with rural businesses (at least $100 million in prior investments) across the country.

"We're grateful for the Governor's and Legislature's leadership in putting this new option on the table for small businesses in rural communities to access the necessary capital to start and grow their businesses," said Florida Secretary of Commerce J. Alex Kelly. "The health of the small business sector is a benchmark of success and opportunity for any economic community, especially rural communities, and through the Rural Community Investment Program, we're opening new doors for investment and creating opportunities that will help rural entrepreneurs grow, create jobs and strengthen local economies for years to come."

To become a certified rural fund in the state of Florida, applicants must:

• Provide FloridaCommerce with the proposed investment authority amount,
• Demonstrate that they are licensed as a rural investment company,
• Provide evidence of at least $100 million in prior investments in businesses located in rural communities across the U.S.,
• Submit an estimate of the total number of new jobs expected over the life of the program, and
• Submit an approved business plan.

Applications for certification open on November 1, 2025, and will be reviewed in the order they are received.
For more information on the Rural Community Investment Program, including eligibility requirements, application materials, and a web-based application portal, please visit the Rural Community Investment Program webpage