Our leaders must be reminded of the advantages of Economic Development Incentives
After the recent budget negotiations in the Florida legislature, FEDC Vice Chair of Advocacy, Danita Andrews noted the following vital points about economic development education:
“I believe we have some fundamental ground to cover immediately, in the following session and leading up to next legislative session related to educating or re-educating our legislature and elected officials on the key points of economic development.
Here’s a few ED 101 talking points for you to utilize as you feel appropriate and please add any personal perspectives on what local economic development projects have meant in your communities. Florida’s job creation tools are necessary to keep our state competitive in the site selection/economic development process:
1. Florida’s job creation tools are necessary to keep our state competitive in the site selection/economic development process
2. Florida’s incentive programs are performance based and require a minimum $5 return on investment for every $1 awarded (where else can you get this type of investment return?)
3. Incentive programs are targeted to industries that pay higher than average wages, export products outside the region or state and import wealth in return
4. Primary employers grow jobs, increase local wages and annual payroll, increasing the buying power of our citizens to purchase homes, cars, etc.
5. Primary employers pay property taxes, providing longer term stability of the tax base; they are philanthropic, volunteering time and giving additional support to local non-profits, schools, etc.
6. Investing in Florida’s job creation is an investment in our future economic well being, diversifying our economy and ensuring resiliency in economic downturns
It is important to stay in touch year-round to let them know how business recruitment, business retention, and expansion provides long-term sustainability, job growth, and prosperity in our local communities.
Economic Development is crucial for a healthy and vibrant Florida. In order to be successful, we must continue to increase the focus on our State’s ability to Attract, Retain, and Grow Jobs and provide quality infrastructure and the tools necessary for economic development.”