Friday, December 14, 2012

Florida Praised for its Handling of State Economic Incentives

In this article written for the Orlando Sentinel, The State of Florida received high marks for its controls over economic incentives, compared to other states. 

A report done by the Pew Center in DC reviewed incentives passed in 16 states since 2007 to determine if these states administered adequate controls over these programs.  Florida scored high marks because as other States steadily increased their incentive dollars, the state decided to cap its total incentives funding over a number of years.
To read the full article, click on the link

Based on the amount of scrutiny economic incentive programs have faced within the last five years, it is in the best interest of each state to ensure adequate controls are in place to prevent mis-use of incentive funding.  However, states should also be cautioned to not make the incentive process so bureaucratic that they miss out on opportunities to bring in businesses that would truly benefit their communities.

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