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Department of Economic Opportunity - page 5

DEO wants more money in business-loans case

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The Department of Economic Opportunity (DEO) is asking a court to award it more money in a case stemming from a Legislature-created loan program to help companies rebound from the recession. The department asked Circuit Judge Kevin Carroll of Tallahassee to amend his final judgment against the Black Business Investment Fund of Central Florida (BBIF) to add prejudgment interest of $201,792 and boost the total monetary award to nearly $1.3 million. The Department filed its motion Thursday. Its request followed an appellate decision that added prejudgment interest, money that accrues on…

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Florida’s unemployment rate dips to 4.9 percent

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Florida’s unemployment rate is at its lowest point in eight years. The state’s unemployment rate dropped to 4.9 percent in February, down from 5.6 percent a year earlier. That’s significantly down from December 2010, when the state’s unemployment rate was 10.7 percent. In a statement Friday, Gov. Rick Scott said the “unemployment rate is at the lowest it has been in eight years at 4.9 percent.” “We have cut taxes over 55 times since 2010, including more than $1 billion…

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Senate, House TED proposals inch closer, bump unresolved items to budget chiefs

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The Senate inched closer to the House Transportation and Economic Development budget Monday night with its third proposal, cutting the difference between the two chambers to a couple dozen line items and disagreements on funding sources. The House and Senate came to terms on the Department of Transportation budget earlier Monday, but still had a wide gulf between their respective plans for the Department of Economic Opportunity. The Senate made steps in closing that gap with it’s third offer, which matched the House position on…

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House, Senate TED budget writers still unresolved on DEO funding

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House and Senate budget conferees remain some distance away from reconciling their varying budget proposals, with a nominal $8 million and several line items standing between lawmakers and a unified budget proposal to send to Gov. Rick Scott. The elephant in the room? Neither proposal circulating in the Conference Committee on House Transportation & Economic Development Appropriations/Senate Transportation, Tourism, & Economic Development has any money allocated for the $250 million Florida Enterprise Fund that insiders say is Scott’s No. 1 priority, perhaps…

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Florida TaxWatch backs Enterprise Florida fund, economic incentives

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Florida TaxWatch trumpeted the release of a new report Thursday morning, in which the conservative watchdog group endorsed plans to keep tax dollars flowing to economic incentives along the lines of those favored by Gov. Rick Scott, including $250 million Scott has requested for a dedicated fund for Enterprise Florida business recruitment efforts. The report, entitled “A Catalyst for Growth: An Analysis of Florida’s Economic Development Incentive Programs,” said incentives are bringing results in the form of job growth and better economic…

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Americans for Prosperity-Florida takes aim at sports incentives in new ad campaign

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Americans for Prosperity—Florida is out with a new advertisement taking aim at sports incentives. The digital advertisement ad campaign calls on Floridians to call on their elected officials to oppose efforts to give incentives to sports teams. The digital ad campaign is scheduled to run through Super Bowl Sunday. “As wealthy team owners and NFL executives gather around San Francisco for the Superbowl this weekend, Florida taxpayers are hurting because some politicians would rather help billionaire football team owners than…

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Bill to help DEO fight unemployment fraud passes House committee

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A bill giving the Department of Economic Opportunity more tools in the fight against unemployment benefits fraud unanimously passed the House Economic Development and Tourism Subcommittee Monday. According to LobbyTools, state Rep. Mike La Rosa, sponsor of HB 1017, said the DEO identified “9,600 claims based on I.D. fraud” in 2013 alone. Those figures led the St. Cloud Republican to call for giving the agency more authority to combat the issue. A strike-all amendment removed several controversial provisions of the…

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