What is Enterprise Florida and what does it do?
Enterprise Florida, Inc. (EFI) is a public-private partnership between Florida’s business and government leaders and is the principal economic development organization for the state of Florida. EFI’s mission is to expand and diversify the state’s economy through job creation. In pursuit of its mission, EFI works closely with a statewide network of economic development partners and is funded both by the State of Florida and by private-sector businesses.
What is economic development?
Economic development refers to the actions of a region or state to promote itself as premier business location. Enterprise Florida uses a targeted and carefully crafted process when competing for jobs creation projects. The process used by EFI encourages partnerships and utilizes strategic measures to bring jobs projects to Florida that are beneficial for the company, community and state. It works to expand targeted business sectors as the primary means of sustaining a high quality of life while also maintaining a favorable tax environment. Where possible, it targets businesses that are able to pay their employees higher wages, while still maintaining competitive costs for doing business.
What are Enterprise Florida’s Targeted Business Sectors?
Enterprise Florida recruits new business to the state, and works to retain and expand existing industry and business. EFI focuses its economic development efforts on a wide range of industries, including aviation/aerospace, life sciences, information technology, homeland security/defense, financial/professional services, logistics and distribution, clean technology, manufacturing, headquarters and beyond.
How long has the organization existed?
In 1996, Florida became the first state in the country to place principal responsibility for economic development, international trade, research and business image marketing in the hands of a public-private partnership. Driving the effort was the belief that, with hands-on participation by Florida businesses, Florida could move from its traditional economic drivers of tourism and agriculture to a sophisticated mix of industries and international business. This model has been adopted by many U.S. states.
How is Enterprise Florida governed?
EFI was created in statute as a public/private organization with its board composition outlined. A policy-driven Board of Directors oversees the organization, comprised of appointed members and a diverse group of investors representing some of the nation’s most notable corporations in Florida. In addition, each member of the Florida Cabinet holds a position on the board. Florida Governor Rick Scott serves as the Chairman of EFI’s Board of Directors and Florida’s Secretary of Commerce serves as President and CEO of Enterprise Florida.
How does Enterprise Florida operate?
EFI’s activities are measured and reported regularly through its performance-based contract with DEO. EFI also has an internal operations plan with its own set of rigorous objectives and measures. Each staff member develops a performance plan annually with stretch goals. The state invests annually in EFI’s operations budget, which includes amounts appropriated for the Florida Sports Foundation and MaSBEC. The private sector augments the state’s efforts by joining the board of directors as corporate investors. In addition, EFI is independently audited each year.
How large is Enterprise Florida’s staff?
The organization has a staff of about 80. In addition, Enterprise Florida accomplishes its mission through its network of economic development partners throughout the state and abroad.
Where are Enterprise Florida’s offices?
Headquartered in Orlando, Enterprise Florida also has offices in Miami and Tallahassee. Additionally, EFI has several field offices and international offices that assist Florida companies seeking to become involved in global business. View a full list of EFI locations.