Council Member Aaron Bowman Announced His Support for Gov. Scott’s Proposed Reforms for Enterprise Florida

November 23, 2015  

Today Jacksonville City Council Member Aaron Bowman, (District 3) announced his support for Governor Rick Scott’s proposed reforms for Enterprise Florida, including the creation of the Florida Enterprise Fund.

Council Member Bowman said “Job creation is extremely important for the State of Florida and I fully support the proposal to create the Florida Enterprise Fund and improve the economic development process at Enterprise Florida. Enterprise Florida has been integral to creating jobs in our community, with companies such as Vistakon, Macquarie, Anheuser Busch, Fidelity, Deutsche Bank, General Electric, and Safariland. These reforms will continue to diversify our local economy, empower our small businesses, and create even more great jobs.”

The proposed economic reforms which have been endorsed by the Enterprise Florida Executive Board include:

  • Creating a new $250 million competitive fund called the “Florida Enterprise Fund.”
  • Making the Florida Enterprise Fund a state trust fund to replace the existing escrow account to allow the state’s investment to accrue more interest.
  • Increasing the Legislature’s role in competing for job creation projects by requiring that any deal over $1 million have the approval of the Speaker of the Flouse and the Senate President, as well as the Governor.
  • Reforming the return on investment requirements by eliminating the use of waivers and requiring a 10 percent annualized return on top of the original amount invested in a company.
  • Streamlining the state’s approval process while continuing to ensure that NO tax dollars leave the state trust fund until a company meets specific job creation goals spelled out in their contract.