Enterprise Florida, Inc., reported that it met statutory requirements for obtaining private sector matching contributions for Fiscal Years 1996-97 and 1997-98. However, OPPAGA concluded that some reported contributions did not fit the statutory definition of private sector matching. If the amounts we questioned were excluded, Enterprise Florida, Inc., would have failed to meet pre-conditions for receiving $112,788 in general revenue funds for Fiscal Year 1997-98.
Two reasons why Enterprise Florida, Inc., did not meet matching requirements are its practice of avoiding fund-raising competition with local economic development organizations and the reduction in the number of previous contributors because of mergers.
The requirement that Enterprise Florida, Inc., increase private sector matching contributions is appropriate, but the Legislature may want to reduce specific requirements by lowering the statutory percentage of state funds to be matched.

Concerns Over Enterprise Florida's Performance, Services to Distressed Areas Point to a Need to Consider Several Alternatives for Its Future Role
Report 01-62 December 2001
Review of the International Trade and Economic Development Board of Enterprise Florida, Inc.
Report 98-44 January 1999
Review of the Enterprise Florida, Inc. Capital Development Board's Cypress Equity Fund
Report 98-33 December 1998
Review of the Technology Development Board of Enterprise Florida, Inc.
Report 98-30 December 1998

Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.