OK. I know that I've posted something for the week. But I found this article in my search on economic incentives. Thought it was worth sharing, although I don't agree with all of the assumptions. As a professional working with economic incentives for ten years, I realize that although some businesses have already made up in their minds that they will expand/relocate in Florida, the incentives help to close the deal for others who have not fully made a final decision. Economic incentives help persuade companies to choose Florida over other alternatives, like Georgia, Alabama and South Carolina.
Do Florida's corporate tax breaks pay off in jobs?
It seems that one thing that is not being publicized is that most incentive programs like Qualified Target Industry (QTI) refund programs, Quick Action Closing Fund and Capital Investment Tax Credit (CITC) do not distribute scheduled payments until the company can prove to the State that they have satisfied their commitments. So, even though a company may be approved for $500,000 that company will not receive those funds until it has met the requirements to qualify for the payment.
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