Economic Development Incentives Portal

Launched in 2013, the Economic Development Incentives Portal allows interactive capabilities as FloridaCommerce furthers its commitment to efficiency, accountability and transparency. The portal provides unprecedented access to the performance measurements required in economic development incentive contracts and each company’s progress toward reaching their required job creation goals. This site contains details on every non-confidential Florida economic development incentive project with an executed contract.

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• Section 288.0071, F.S. Affidavit of Compliance

A core principle of the state’s economic development incentive programs is that businesses are paid based on verified performance, meaning no tax dollars are paid until job creation or capital investment numbers are audited and confirmed. Incentive agreements have sanction provisions to protect the state’s investment. While performance requirements are typically phased and met over multiple years, performance is measured and confirmed annually. Projects will be updated as their performance data are confirmed as well as new non-confidential projects after their confidential period ends.

Florida competes globally to bring jobs to the state from companies that have other location options. Economic development incentives are components of a toolkit 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 of businesses in Florida. They are designed to promote job creation, job retention and capital investment in Florida. The Annual Incentives Report, posted on the Reports and Legislation Page provides a more comprehensive and historical look at the success incentives have played in helping Florida families.
 
Beginning with all tax refund agreements executed after July 1, 2010, FloridaCommerce made the conscious effort to ascertain the causes for any qualified target businesses not completing its agreement. In 2013, FloridaCommerce began publishing the findings and recommendations in the Annual Incentives Report per s. 288.907.

View Types of Incentives Awards for more specific information on each incentive type.

WHAT’S INCLUDED IN THE PORTAL

The interactive portal includes every non-confidential incentive project with an executed contract since 2000 that received or is on schedule to receive payments from the state of Florida. All available non-confidential, executed agreements will be redacted and uploaded to the Comprehensive View on the portal over the next three months. As of October 1, 2013, the executed, non-confidential contracts since January 2013 have been redacted and uploaded to the portal.  Due to limited information, projects executed prior to 2000 are summarized in a high level report that features jobs, payments, and county location. Projects that are confidential or approved but do not yet have an executed agreement and projects that have withdrawn or decided not to proceed with the incentive are not included. Confidential projects, as defined by Florida Statutes, will be included once their exemption from the state’s public record requirements has expired. Projects whose confidentiality expires will be added to the portal on a periodic basis. Incentives relating to Workforce Florida, Space Florida, and the Division of Community Development are not included in the portal.

View Guide to Understanding the Economic Development Incentives Portal for descriptions of keywords, fields, headers, and project status.

Quick Action Closing Fund (§288.1088 F.S.)

The Legislature finds that attracting, retaining, and providing favorable conditions for the growth of certain high-impact business facilities, privately developed critical rural infrastructure, or key facilities in economically distressed urban or rural communities which provide widespread economic benefits to the public through high-quality employment opportunities.

FloridaCommerce publishes information relating to the Quick Action Closing Fund (QACF), including the average number of days between the date FloridaCommerce receives a completed application and the date on which the application is approved. The Governor may approve projects requiring less than $2 million in funding. For projects requiring funding in the amount of $2 million to $5 million, the Governor provides a written description and evaluation of a project recommended for approval to the chair and vice chair of the Legislative Budget Commission at least 10 days prior to giving final approval for a project. Any project exceeding $5 million must be approved by the Legislative Budget Commission.

For Fiscal Year 2018-2019, the program was not funded, and no applications were received as a result.

Office of Economic and Demographic Research’s Return on Investment Model

For information regarding the methodology used in calculating the projected economic benefit, see the following links:

• EDR Legacy Model Methodology
• EDR Legacy Model Assumptions
• EDR Legacy Model Calculations

The Portal

• Legacy Project Overview Report (Approved prior July 1, 2000)
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