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The Florida Senate

2018 Florida Statutes

F.S. 288.907
288.907 Annual incentives report.By December 30 of each year, Enterprise Florida, Inc., in conjunction with the department, shall provide the Governor, the President of the Senate, and the Speaker of the House of Representatives a detailed incentives report quantifying the economic benefits for all of the economic development incentive programs marketed by Enterprise Florida, Inc. The annual incentives report must include:
(1) For each incentive program:
(a) A brief description of the incentive program.
(b) The amount of awards granted, by year, since inception and the annual amount actually transferred from the state treasury to businesses or for the benefit of businesses for each of the previous 3 years.
(c) The actual amount of private capital invested, actual number of jobs created, and actual wages paid for incentive agreements completed during the previous 3 years for each target industry sector.
(2) For projects completed during the previous state fiscal year:
(a) The number of economic development incentive applications received.
(b) The number of recommendations made to the department by Enterprise Florida, Inc., including the number recommended for approval and the number recommended for denial.
(c) The number of final decisions issued by the department for approval and for denial.
(d) The projects for which a tax refund, tax credit, or cash grant agreement was executed, identifying for each project:
1. The number of jobs committed to be created.
2. The amount of capital investments committed to be made.
3. The annual average wage committed to be paid.
4. The amount of state economic development incentives committed to the project from each incentive program under the project’s terms of agreement with the Department of Economic Opportunity.
5. The amount and type of local matching funds committed to the project.
(e) Tax refunds paid or other payments made funded out of the Economic Development Incentives Account for each project.
(f) The types of projects supported.
(3) For economic development projects that received tax refunds, tax credits, or cash grants under the terms of an agreement for incentives:
(a) The number of jobs actually created.
(b) The amount of capital investments actually made.
(c) The annual average wage paid.
(4) For a project receiving economic development incentives approved by the department and receiving federal or local incentives, a description of the federal or local incentives, if available.
(5) The number of withdrawn or terminated projects that did not fulfill the terms of their agreements with the department and, consequently, are not receiving incentives.
(6) For any agreements signed after July 1, 2010, findings and recommendations on the efforts of the department to ascertain the causes of any business’s inability to complete its agreement made under s. 288.106.
(7) The amount of tax refunds, tax credits, or other payments made to projects locating or expanding in state enterprise zones, rural communities, brownfield areas, or distressed urban communities. The report must include a separate analysis of the impact of such tax refunds on state enterprise zones designated under s. 290.0065, rural communities, brownfield areas, and distressed urban communities.
(8) The name of and tax refund amount for each business that has received a tax refund under s. 288.1045 or s. 288.106 during the preceding fiscal year.
(9) An identification of the target industry businesses and high-impact businesses.
(10) A description of the trends relating to business interest in, and usage of, the various incentives, and the number of minority-owned or woman-owned businesses receiving incentives.
(11) An identification of incentive programs not used and recommendations for program changes or program elimination.
(12) Information related to the validation of contractor performance required under s. 288.061.
(13) Beginning in 2014, a summation of the activities related to the Florida Space Business Incentives Act.
History.s. 28, ch. 2011-142; s. 31, ch. 2013-39; s. 33, ch. 2013-42.