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Office of Program Policy Analysis and Government Accountability

Florida Economic Development Program Evaluations – Year 7, Report No. 19-16, December 2019
 
Full report in PDF format


  • Incentive programs under review this year include tax credit, tax refund, and cash grant incentives. These programs intend to attract businesses to and grow businesses in Florida. Six of the eight programs under review involve projects with contractual agreements.
  • Projects with contractual agreements received $167.2 million in state incentive funds in Fiscal Years 2015-16 through 2017-18. These projects created 26,004 jobs and $1.5 billion in capital investment. No Innovation Incentive Program projects received payments during our review period. Approximately one-half of businesses receiving incentive payments via contractual agreements were existing Florida businesses that have over 1,000 employees.
  • The Legislature phased out the Enterprise Zone Program in 2018 but provided $25.3 million in tax credits and refunds to businesses and individuals during our review period. During the period, investors claimed $118.7 million in tax credits for the New Markets Development Program.
  • Regarding concerns we noted in the prior review period, the Department of Economic Opportunity (DEO) improved the timeliness of incentive claims and payment processes. However, all of our other recommendations from the prior review period remain. We continue to recommend that the Legislature phase out the Innovation Incentive Program. Further, if the Legislature chooses to authorize additional New Markets Development tax credits, it could consider directing DEO to use scoring criteria when allocating tax credits. Lastly, DEO should improve New Markets Development Program oversight.

Which Government Program Summaries contain related information?

Department of Economic Opportunity
Community Development
Strategic Business Development

What other OPPAGA-related materials are available?

  • Report No. 18-07 Florida Economic Development Program Evaluations - Year 6,published in December 2018.
  • Report No. 17-13 Florida Economic Development Program Evaluations – Year 5,published in December 2017.
  • Report No. 17-02 Florida Economic Development Program Evaluations - Year 4,published in January 2017.
  • Report No. 16-09 Agency Review – Enterprise Florida, Inc., and Department of Economic Opportunity,published in December 2016.
  • Report No. 15-11 Florida Economic Development Program Evaluations – Year 3,published in November 2015.
  • Report No. 15-01 Florida Economic Development Program Evaluations – Year 2,published in January 2015.
  • Report No. 14-01 Florida Economic Development Program Evaluations – Year 1,published in January 2014.

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).
e-mail address: oppaga@oppaga.fl.gov


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