By December 30 of each year, the department shall provide the Governor, the President of the Senate, and the Speaker of the House of Representatives a detailed incentives report quantifying the economic benefits for all of the economic development incentive programs administered by the department and its public-private partnerships. The annual incentives report must include:

(1) For each incentive program:

(a) A brief description of the incentive program.

Terms Used In Florida Statutes 288.0065

  • Department: means the Department of Economic Opportunity. See Florida Statutes 288.005
  • Economic benefits: means the direct, indirect, and induced gains in state revenues as a percentage of the state's investment. See Florida Statutes 288.005
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Jobs: means full-time equivalent positions, including, but not limited to, positions obtained from a temporary employment agency or employee leasing company or through a union agreement or coemployment under a professional employer organization agreement, which result directly from a project in this state. See Florida Statutes 288.005
(b) The amount of awards granted, by year, since inception and the annual amount actually transferred from the state treasury to businesses or for the benefit of businesses for each of the previous 3 years.
(2) For projects completed during the previous state fiscal year:

(a) The number of economic development incentive applications received.
(b) The number of final decisions issued by the department for approval and for denial.
(c) The projects for which a tax refund, tax credit, or cash grant agreement was executed, identifying for each project:

1. The number of jobs committed to be created.
2. The amount of capital investments committed to be made.
3. The annual average wage committed to be paid.
4. The amount of state economic development incentives committed to the project from each incentive program under the project’s terms of agreement with the Department of Commerce.
5. The amount and type of local matching funds committed to the project.
(d) Tax refunds paid or other payments made funded out of the Economic Development Incentives Account for each project.
(e) The types of projects supported.
(3) For economic development projects that received tax refunds, tax credits, or cash grants under the terms of an agreement for incentives:

(a) The number of jobs actually created.
(b) The amount of capital investments actually made.
(c) The annual average wage paid.
(4) For a project receiving economic development incentives approved by the department and receiving federal or local incentives, a description of the federal or local incentives, if available.
(5) The number of withdrawn or terminated projects that did not fulfill the terms of their agreements with the department and, consequently, are not receiving incentives.
(6) The amount of tax refunds, tax credits, or other payments made to projects locating or expanding in state enterprise zones, rural communities, brownfield areas, or distressed urban communities. The report must include a separate analysis of the impact of such tax refunds on state enterprise zones designated under s. 290.0065, rural communities, brownfield areas, and distressed urban communities.
(7) An identification of the target industry businesses and high-impact businesses.
(8) A description of the trends relating to business interest in, and usage of, the various incentives, and the number of minority-owned or woman-owned businesses receiving incentives.
(9) An identification of incentive programs not used and recommendations for program changes or program elimination.
(10) Information related to the validation of contractor performance required under s. 288.061.
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