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Office of Program Policy Analysis and Government Accountability

Florida Growth Fund Investments Increase; Additional Data Needed to Estimate Economic Benefit, Report No. 11-26, December 2011
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  • As of October 28, 2011, the Florida Growth Fund had invested $176.5 million in 15 technology and growth companies and 11 private equity funds. Altogether, these investments have had a net internal rate of return of 23% since the fund’s inception; the state would have to sell all or part of an investment that has increased in value to realize an actual return. Based on the fund’s performance, the prospects for future investment opportunities, and an independent review of the fund manager, the SBA has authorized the investment of an additional $250 million.
  • As of January 2011, eight of the technology and growth companies reported that they had created 451 jobs since the fund’s inception. However, additional information is needed to conduct a comprehensive analysis of the investments’ direct and indirect economic benefits. This data includes average employee wages, revenues, and capital investments. The fund manager will attempt to collect this data for use in future reports.

Which Government Program Summaries contain related information?

State Board of Administration of Florida

What other OPPAGA-related materials are available?

  • Report No. 18-02 Florida Growth Fund Investments Have Provided Over $300 Million in Distributions to the FRS; Fund Managers Continue to Seek New Investment Opportunities.,published in January 2018.
  • Report No. 16-08 Florida Growth Fund Investments Have Provided Over $200 Million in Distributions to the FRS; Fund Managers Continue to Seek New Investment Opportunities,published in December 2016.
  • Report No. 15-14 Florida Growth Fund Expands and Diversifies Investments,published in December 2015.
  • Report No. 14-11 Florida Growth Fund Investments Continue to Add Jobs and Provide Distributions to the FRS,published in December 2014.
  • Report No. 13-11 Florida Growth Fund Investments Add Jobs and Result in Distributions to the Retirement Fund,published in December 2013.
  • Report No. 13-01 Florida Growth Fund Investments Have Increased and Recipients Report Employment Growth and Expanded Business Activities,published in January 2013.
  • Report No. 10-60 The Florida Growth Fund Added Investments in 2010, but It Is Still Too Early to Assess Total Economic Impact,published in December 2010.
  • Report No. 09-45 SBA Has Implemented the Florida Growth Fund; Economic Impact of Investments May Not Be Apparent for Several Years,published in December 2009.
  • Report No. 08-72 Economically Targeted Investment Program Under Development,published in December 2008.

Copies of this report in print or alternate accessible format may be obtained by telephone (850/488-0021), by FAX (850/487-9213), in person, or by mail (OPPAGA Report Production, Claude Pepper Building, Room 312, 111 W. Madison St., Tallahassee, FL 32399-1475).
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