October 16, 2020
Wednesday, May 22, 2013
“Much positive progress was made in the recent legislative session impacting economic development in the state such as the elimination of the sales tax on manufacturing machinery and equipment, removal of the award caps for some programs, and continued flexibility in the state’s incentive toolbox. These actions will help Enterprise Florida remain relentless in our pursuit of competitive projects to help create jobs and grow our economy.
“In particular, Enterprise Florida actively supported the passage of HB 7007, which eliminates the sales and use tax on equipment for manufacturers and we helped to provide guidance in the section of the bill which focuses on increased transparency and reporting requirements of Florida’s economic development incentive programs. We felt that this legislation provides clear parameters to show taxpayers that the state is receiving the statutorily required return on investment for incentives used to encourage job creation and investment in Florida.
“HB 7007 codifies the information that is already being made available to the public via the state’s Annual Incentives Report, and through the Department of Economic Opportunity’s (DEO) web portal. Through the portal, citizens are able, once the confidentiality timeframe is met, to access real-time information on projects approved for state incentive programs including the number of jobs created, capital investment and incentive payments made. Enterprise Florida worked closely with legislative leaders on this legislation to make sure the public has access to information regarding approved incentive projects while ensuring that confidentiality is maintained to protect active projects and proprietary information.
“HB 7007 also requires that the Office of Program Policy Analysis and Government (OPPAGA) Accountability and the Office of Economic & Demographic Research (EDR) evaluate each of Florida’s incentive programs on a three-year rotating basis to determine the importance of each incentive program, its utilization, and to assess how each supports varied aspects of economic development.
“I commend Governor Scott, Senate President Don Gaetz and House Speaker Will Weatherford for their leadership on this important legislation and for working with our team to ensure that Florida not only has the most effective economic development incentive programs in the country but also the most transparent and accountable.”
Secretary of Commerce
President & CEO, Enterprise Florida
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Enterprise Florida, Inc. (www.eflorida.com) is a partnership between Florida’s business and government leaders and is the principal economic development organization for the state of Florida. Enterprise Florida’s mission is to facilitate job growth for Florida’s businesses and citizens leading to a vibrant statewide economy. In pursuit of its mission, Enterprise Florida works closely with a statewide network of economic development partners and is funded both by the State of Florida and by private-sector businesses.