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Home > Transparency Florida > Economic Incentives

Economic Incentives

Economic Development Incentives Portal - Launched on October 1, 2013, the enhanced Economic Development Incentives Portal allows interactive capabilities as Florida’s Department of Economic Opportunity (FDEO) furthers its commitment to efficiency, accountability, and transparency. The Portal provides unprecedented access to the performance measurements required in economic development incentive contracts and each company’s progress toward reaching the required job creation goals. This site contains details on every non-confidential Florida economic development incentive project with an executed contract.

Search the Economic Development Incentives Portal

Economic Incentives * - Florida competes globally to bring jobs to the state from companies that have other location options. Economic incentives are designed to address various business needs in a competitive environment. A competitive economic development project is one in which a business has identified multiple locations that can meet its needs. Incentives may be used to reduce costs associated with a site, facility, or equipment and can help facilitate the location or expansion of businesses in Florida. They are designed to promote job creation, job retention, and capital investment in Florida.

Annual Incentives Reports - Reports - For a more comprehensive and historical look at the success incentives have played in helping Florida families, please go to Reports and Legislative Presentations web page.

Florida Department of Economic Opportunity ** - For additional details regarding economic development incentives in the state of Florida please go to Economic Development Incentives Home Page

GASB Statement No. 77, Tax Abatement Disclosures*** *** - For financial reporting purposes, a tax abatement is defined as an agreement between the government and an individual or entity through which the government promises to forgo tax revenues and the individual or entity promises to take a specific action after the agreement has been entered into that contributes to economic development or otherwise benefits the government or its citizens. For information regarding tax abatement agreements in the state of Florida, please see Note 4 of the Florida Comprehensive Annual Financial Report.

*All programs that allow for payments upfront include a clawback clause. Payments returned to the state are indicated by a negative payment on the Economic Development Incentives Portal.

** Due to the performance periods, reporting requirements, third party verification, and DEO’s confirmation, there is a lag between real-time events, such as job creation and investments, and the information being posted on DEO’s Economic Development Incentives Portal.

***Only includes economic incentive programs that meet the GASB Statement No. 77 definition of tax abatements, as such, economic incentives not meeting this definition are excluded.