FEDC wants to wish you a happy and safe holiday season!
FEDC Board of Directors Approves 2021 Legislative Priorities
In the summer of 2020, FEDC formed an Economic Recovery Task Force to evaluate the impact of losing the state-level tax refund program for competitive business recruitment and expansion projects. The task force submitted a series of recommendations to the Executive Office of the Governor, DEO, and Enterprise Florida in support of reinstating a modernized QTI program. This has become the cornerstone of the FEDC legislative priorities for 2021. Thank you to everyone who provided research, project data, and analysis.
FEDC Legislative Priorities
Reinstate F.S. 288.106 Qualified Target Industry Tax Refund program, with the following modifications:
Change average wage requirement to median wage to more accurately capture wages paid to the majority of jobs created by the project or the average of the industry in that county.
Increase base QTI Amounts to $4,000 per new job created.
Replace “Enterprise Zones” with “Opportunity Zones” to provide a $6,000 base award per job created for projects that locate in those areas.
Simplify the Port Cargo/Airport Cargo Bonus
Update F.S. 220.196 Research and Development Tax Credit to increase the cap from $9 million to $50 million with up to $10 million reserved for research companies who are reshoring operations to Florida.
FEDC supports maintaining and enhancing the CareerSource Florida Quick Response Training (QRT) grant program.
In addition to these specific priorities, FEDC supports:
Enterprise Florida, the state’s primary economic development organization, dedicated to Florida’s economic diversification and resiliency. This includes operational support and funding for business development, marketing the State of Florida as a business destination, and international trade activities.
Programs through Space Florida, CareerSource Florida, Veterans Florida, Florida Rural EDA, Florida SBDC Network, The Corridor, GrowFL, FloridaMakes, and state academic institutions that connect existing and aspiring small businesses with the critical intelligence and talent they need to innovate, grow and thrive.
Establishing a Project Development Boot Camp to include EFI, DEO, and CareerSource Florida staff and FEDC Members.
FEDC’s Florida 2030 Strategic Doing Task Force to hold Webinar January 6th
Join us on January 6th from 2:00 to 3:30 PM EST to advance three goals of Florida’s statewide economic development plan. Co-Chairs Rose Fagler, Weyerhaeuser, and Doug Wheeler, FL Ports Council will host the virtual engagement. It will cover three topics with many contributors.
Top State for Gross Domestic Product and Top Quartile Most Diversified State Economy: How does economic development contribute to GDP?
Moderator: Rose Fagler, Economic Development Manager, Weyerhaeuser
Contributors: Glenn Hunter, Columbia County ED (FL); Jeff Wood, Craven County ED (NC); Chris Masingill, St. Tammany Parish Corporation (LA); Ryan Waldrep, Dublin-Laurens County ED (GA)
Doubling the Rural Share of Florida’s GDP: Is Broadband the Answer?
Mike Grissom, Becker & Poliakoff
Mario Rubio, Director, Division of Community Development, Florida Department of Economic Opportunity (invited)
Integrating Florida 2030 Goals into Regional Economic Development Strategies: Can you give me an example?
Jennifer Conoley, President & CEO, Florida’s Great Northwest