Florida competes globally to bring jobs to the state from companies that have other location options. Economic incentives are designed to address various business needs in a competitive environment. A competitive economic development project is one in which a business has identified multiple locations that can meet its needs. Incentives may be used to reduce costs associated with a site, facility, or equipment and can help facilitate the location or expansion of businesses in Florida. They are designed to promote job creation, job retention, and capital investment in Florida.