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From the staff of the Tampa Bay Times

Economic development agency reviewing incentive awards to businesses to gauge impact

5

October

The head of Florida's new economic development agency said he is reviewing millions of dollars in cash incentives the state has given out in recent years and will recommend taking action against businesses not fulfilling their contracts.

"Some of them are egregious," said Doug Darling, director of the Department of Economic Opportunity.

Before the department opened Monday, it released a report showing just 71 percent of the 729 tax-incentive contracts the state had signed in the past decade were fulfilled.

This year, those contracts and incentives are supposed to bring 9,311 jobs from companies recruited to Florida. Existing companies in the state are under contract to create 10,274 more jobs through expansion.

Story here.

[Last modified: Wednesday, October 5, 2011 9:38am]

    

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