Local Government Economic Development Incentives
During the 2010 Regular Session, the Florida Legislature enacted Committee Substitute for Senate Bill 1752 relating to economic development, which was later codified as Chapter 2010-147, Laws of Florida. The law amended Sections 125.045 and 166.021, F.S., to impose new economic development reporting requirements on county and municipal governments.
By January 15th of each year, each county government shall report to the Office of Economic and Demographic Research (EDR) the economic development incentives in excess of $25,000 paid to businesses during the previous local fiscal year. Additionally, each municipal government having annual revenues or expenditures greater than $250,000 shall report the economic development incentives in excess of $25,000 paid to businesses during the previous local fiscal year. Please note that municipal governments having annual revenues or expenditures less than $250,000 are exempt from this reporting requirement. Pursuant to law, county and municipal governments must report their economic development incentives in the format specified by EDR.
Pursuant to law, the deadline to complete the FY 2020-21 survey questionnaire was January 15, 2022. Two additional months to complete the online survey were provided by EDR; however, the link to the online survey has now been deactivated.
Sections 125.045(4) and 166.021(8)(d), Florida Statutes, also require that a contract between a county's or municipality's governing body, or other entity engaged in economic development activities on behalf of the local government, and an economic development agency must require the agency or entity receiving county or municipal funds to submit a report to the local government's governing body detailing how the funds were spent and the results of the economic development agency's or entity's efforts on behalf of the local government.
EDR has reviewed the annual reports of various economic development agencies or organizations (EDOs) to determine recurring items of interest and recommended items of interest that should be included in the EDO's email@example.com .
Last Revised: March 22, 2022