Contact:     Stuart Doyle
                          (407) 956-5689
sdoyle@eflorida.com

 
Economic development programs, funding firm for FY11

Legislature enables Enterprise Florida goals to stay on track for ’10-11

            ORLANDO, FL (June 3, 2010) – Governor Charlie Crist’s recent signoff of a $70.4 billion budget for fiscal year 2010-11 ensured continued funding and programs to foster and advance statewide economic development.  Several represent key incentives and grants – e.g. Quick Action Closing Fund and Research Commercialization Matching Grant Program -- that are designed to secure jobs in targeted growth industries and create them from innovative research and development projects.

“Economic development remains a top priority for the state of Florida, which the Legislature demonstrated through its business and job enhancing appropriations as well as by retaining Enterprise Florida’s current funding level,” said former House Speaker Allan Bense, who serves as vice chairman of Enterprise Florida’s board of directors.  “A good number of bills that passed pertained to tax incentives, sales tax exemptions and grants to small-and medium-sized businesses, for example.”

The Legislature endorsed nine of Enterprise Florida’s 10 recommendations, each of which aligned to the Roadmap to Florida’s Future, the state’s strategic plan for economic development.  Collectively, the successful proposals included:

• funding for Enterprise Florida operations, Quick Action Closing Fund and the Defense Infrastructure Grant program
  
• reauthorization of the Qualified Target Industry Tax Refund program
  
• creation of the Research Commercialization Matching Grant program.

“This session marked a critical milestone for economic growth initiatives considering the challenges the national and state economies still face,” noted John Adams Jr., president & CEO of Enterprise Florida.  “We reached it, however, because of the support of our partner economic development organizations in conjunction with the leadership of the governor, bill sponsors and legislative champions.” 

Attached is a summary of Enterprise Florida’s 2010 legislative agenda and the outcomes, and information on other legislative actions designed to stimulate business climate and job creation efforts.

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Enterprise Florida, Inc. is a partnership between Florida's business and government leaders and is the principal economic development organization for the state of Florida.  Headquartered in Orlando, EFI’s mission is to diversify Florida’s economy and create better-paying jobs for its citizens by supporting, attracting and helping to create businesses in innovative, high-growth industries.  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.

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