Florida’s Successful Legislative Session
Last month, the Florida Legislature concluded the 2018 legislative session and Governor Scott signed the 2018-19 budget. Even with many competing priorities this year, the Securing Florida’s Future Budget includes more than $250 million for economic development that will continue to strengthen Florida’s economy.
Highlights from the Securing Florida’s Future Budget include:
- The Florida Job Growth Grant Fund received $85 million in funding for the second year in a row. The projects funded through this program will meet infrastructure and workforce training needs across the state and help promote economic opportunity. This is one of our state’s critical economic development tools – making us even more competitive for attracting businesses to our state, and encouraging them to invest and expand in Florida.
- The Quick Response Training Program received $9 million to provide grants to employers who are expanding or moving to Florida to help train the local workforce in specific skills for their industries. At the same time, this program helps employees by strengthening their skills and providing opportunities for growth.
- The Rural Infrastructure Fund was allocated $2.7 million, which is nearly double the funding from previous years. This program helps Florida’s rural communities plan, prepare and finance infrastructure projects that result in job creation, capital investment and the strengthening and diversification of rural economies.
- The budget includes $29 million in funding to continue and maintain the incentives for Florida businesses that are meeting their contractual requirements for creating jobs and making capital investments.
Our partners received funding to help further economic development in our state. Enterprise Florida received $16 million to invest in Florida’s economy by bringing job-creating companies to our state. VISIT FLORIDA received $76 million to keep bringing tourists from all over the world to the Sunshine State. Space Florida received $18.5 million for operations and financing to continue commercializing the space industry in our state.
The Securing Florida’s Future budget will strengthen Florida’s economy through the next year. Our agency is committed to carrying out the programs funded this year that will allow us to continue supporting Florida’s workforce, communities and businesses.
Hurricanes’ Impact on Businesses
DEO plays a critical role in helping the private sector get back to normal after a storm. Recently, Director Proctor was interviewed by 850 Magazine to discuss Florida’s most recent storms and lessons learned. Click here to read the article.
Florida’s Turnaround Story
Since December 2010, Florida’s unemployment rate dropped from 11.2 percent all the way down to 3.9 percent. Additionally, nearly 1.5 million jobs have been created by Florida businesses during this time.
To see more from the Florida Department of Economic Opportunity, click here.