Enterprise Florida could be resurrected from its legislative grave under a new legislation filed by Sen. Jeff Brandes, R-St. Petersburg, on Tuesday.
The two bills, SB 1110 and 1112 would allow Florida’s economic development program, Enterprise Florida, but under a significantly limited scope.
Instead of focusing on major corporations, Brandes’ bills would hone in on small businesses and instead work on fostering a startup environment in the Sunshine State.
Enterprise Florida currently provides economic incentives to have companies move to Florida or to different parts of the state to promote job and business growth.
Brandes seems to disagree on putting the focus on large companies and corporations, instead saying Florida should concentrate its efforts on smaller businesses which may need the state’s help to get off the ground.
“The focus of economic development should be on Florida’s small businesses,” Brandes said. “Fostering a startup culture in our state and encouraging small business development will create a better ecosystem where opportunity can thrive.”
Brandes’ plan would require $117 million held in the Quick Action Holding Fund to be returned to the State Economic Enhancement and Development Fund as well as sanctioning businesses relocating from the state within three years of receiving final incentive payments.
New incentive contracts would be limited to 10 years and any capital investments made with incentive money must stay in Florida.
“This legislation provides greater oversight and safeguards over our current economic development programs,” Brandes explained. “This bill recasts our focus on new businesses that breathe the entrepreneurial spirit and diversify Florida’s economy.”
Brandes’ proposal would also change up the EFI board, including members of the “rural economic development interests” along with CareerSource Florida.
On top of those provisions, the Florida Senate would be required to confirm the President of EFI.
Brandes’ legislation would keep Enterprise Florida alive during a tumultuous legislative session which threatens to send the public-private agency to the political slaughterhouse. Under a House proposal, both EFI and the state’s tourism agency, Visit Florida, would be cut. That proposal has received significant support in the House, but the Senate has been mostly quiet on the measure.
Reach reporter Allison Nielsen by email at allison@sunshinestatenews.com or follow her on Twitter: @AllisonNielsen.
