Enterprise Florida Board Meeting Agenda

Transcripción

Enterprise Florida Board Meeting Agenda
Disney Contemporary Resort • Lake Buena Vista, FL
May 9, 2013 8:30 A.M. – 11:00 A.M. EDT
Theme: Competitiveness
8:30 a.m. Welcome ..................................................................................................................... Brett Couch, Vice Chair
8:35 a.m. Chairman’s Report: Q&A .................................................................................................Governor Rick Scott
9:35 a.m. President’s Report: Q&A ............................................................................. Gray Swoope, President & CEO
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Progress on Enterprise Florida Goals
Ernst & Young Incentives Report
Florida’s Incentives Process
Marketing Partnership Plan
10:00 a.m. Enterprise Florida’s Competitive Programs: Q&A ..........................................................Panel Discussion
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Business Development: Bill Dymond
International Development: Mark Bensabat
Minority and Small Business, Entrepreneurship & Capital (MaSBEC): Julius Davis
10:40 a.m. Verizon Jobs Success Story: Q&A................................ Michelle Robinson, President of Southeast U.S.
10:55 a.m. Action Items.............................................................................................................. Brett Couch, Vice Chair
11:00 a.m. Closing Remarks & Adjournment.................................................................................Governor Rick Scott
2013 – 2014 Board Meeting Dates:
August 7-8, 2013: Destin October 30-31, 2013: Miami
February 5-6, 2014: Tallahassee
May 21-22, 2014: Palm Beach
August 6-7, 2014: Southwest Region
October 29-30, 2014: Orlando
February 4-5, 2015: Tallahassee
Enterprise Florida Board Meeting | May 9, 2013
Updated: 5/3/2013
Enterprise Florida’s Competitive Programs
Discussion & Q&A
Panel
May 9, 2013
At the May 9th board meeting Enterprise Florida (EFI) will host an open panel discussion and
Q&A session led by three of the board executive committee members. Each panelist will give a
brief update on the competitiveness of key programs. After all panelists have presented there will
be Q&A session led by Vice-Chair, Brett Couch.
Please take the time to review the items to be presented below and formulate questions and
suggestions to increase the competitiveness of Enterprise Florida’s programs.
Enterprise Florida’s Business Development
Board Executive Committee, Business Development Liaison: Bill Dymond

2012/2013 Fiscal YTD leading sectors as of 5/1/13:
o Financial Services:
o Strategic Challenges (HQ, Mfg):
o Aviation/Aerospace:
26 projects at 7,835 jobs

Enterprise Florida project managers engaged in 10 “Meet & Greets” in the past
quarter with local county economic development partners to forge closer
partnerships and understand local assets.

Enterprise Florida Business Development and International Trade units are
teaming up again in 2013 to send project managers on the trade missions to the
Paris Air Show & HOSPITALAR, Brazil. The goal is to generate more project
leads and meet with companies looking to expand into Florida.

Business development has a goal to create 100 new project referrals for local
economic development partners. 83 new referrals YTD as of 5/1/13.
Enterprise Florida’s International Trade Development
Board Executive Committee, International Trade Liaison: Mark Bensabat

95% of Florida exporters are small to medium sized companies. Enterprise
Florida export programs focus on assisting Florida’s small to medium sized
businesses.

Enterprise Florida leads over 30 international trade events annually to assist small
to medium sized businesses with finding clients and selling their products.

Governor Scott has led 7 missions to key markets worldwide.

Farnborough / UK Team Florida Mission (July 2012)
o 36 Companies and institutions represented
o $41M in actual and expected sales
Enterprise Florida’s Competitive Programs
Discussion & Q&A
Panel
May 9, 2013

Team Florida Mission to Colombia (December 2012)
o 116 Companies and institutions represented
o $40.7M in actual and expected sales

Team Florida Chile Trade Mission (May 2013)
o Over 100 delegates scheduled to attend
o Governor Scott meeting with Chilean companies interested in
expanding in Florida

Paris Air Show (June 2013)
o Enterprise Florida International Trade Unit and the Business
Development Units are teaming up together to hit the largest aviation
show in the world.
o Governor Scott and Secretary of Commerce, Gray Swoope, will meet
with over 40 investment prospects.
o Florida Pavilion is the largest at the show for past 16 years.
Enterprise Florida’s Minority & Small Business, Entrepreneurship and Capital (MaSBEC)
Board Executive Committee, MaSBEC Liaison: Julius Davis

The Florida Opportunity Fund has three investment programs. The newest
investment program resulted from federal funding through the State Small
Business Credit Initiative (SSBCI)

The goal is to strengthen state programs that support lending to small businesses

Florida received the second largest allocation from the US Treasury: $97M

Florida allocated the 2nd largest amount to venture capital financing from the
SSBCI funds: $43.5M

Enterprise Florida has deployed almost $19M to 25 participating companies

36% of funds went to Minority Businesses: Projecting creation of 379 jobs

MaSBEC has executed an agreement with UCF’s GrowFL program to select
minority owned businesses to assist by increasing their sales and creating more
jobs
Selected Florida business
incentive outcomes,
FY1996 Q1–FY2013 Q2
February 11, 2013
Executive Summary
Enterprise Florida, Inc. (EFI) promotes state incentive and economic development programs
throughout the State of Florida and serves as the primary contact for businesses looking to
relocate, expand, or retain current operations in the state. This report summarizes Ernst &
Young’s analysis of the outcomes of projects assisted by EFI, based on data and project
information verified by the Florida Department of Economic Opportunity’s Division of Strategic
Business Development (DEO), and provided to Ernst & Young by EFI for the period from July 1,
1995 to December 31, 2012. Note that the data and information provided by EFI has not been
independently verified by Ernst & Young.
While most incentive applications approved by DEO (89%) ultimately result in incentive
contracts with the State of Florida, 11% of approved incentive applications are classified as
withdrawn or vacated before executing a contract because the associated projects decide to
locate in another state or because the project does not occur.1 Projects with which the State of
Florida has executed an incentives contract have a variety of outcomes and levels of success in
achieving milestones (e.g., employment or investment) required by incentive programs. Some
contracts are completed after the associated projects meet all of the requirements of the
incentive program under which they were granted an incentive award; others remain in “active”
status, meaning that they have achieved all program requirements to-date, but have additional
milestones that must be achieved in the future. Contracts that have not met some or all project
milestones are classified as “inactive” or “terminated”.
Table ES-1 below summarizes key contract outcomes by status of the incentives contract. The
following key findings are summarized in the table below and in the full report.
•
Of the 1,474 incentive applications that were approved by DEO over the July 1, 1995
through December 31, 2012 study period, 1,307 applications resulted in executed incentive
contracts with the State of Florida.
•
From FY1996 through the second quarter of FY2013, the state paid out $291 million in net
incentives and confirmed 87,470 new Florida full-time equivalent jobs for an average of
approximately $3,320 in incentive payments per net new job. The Florida DEO confirms jobs
through company payroll records and unemployment insurance filings. The net incentives
number excludes incentive awards that were not paid to a business or were returned
through a clawback or other mechanism resulting in repayment of incentives to the state.
•
Of the total $291 million of net incentive payments, $161 million was related to programs
that require projects to make specific levels of capital investment. Projects receiving these
incentive payments invested $3.2 billion confirmed by DEO, or approximately $20 million of
capital investment for every $1 million of state incentive payments.
1
Incentive programs included in this analysis are: Brownfield Redevelopment Bonus (Standalone and QTI add-on),
High Impact Performance Incentive grants (HIPI), Local Government Distressed Area Matching Grant program
(LGDAMG), Manufacturing and Spaceport Investment Incentive program (MSII), Qualified Defense and Space
Contractor tax refund program (QDSC), Qualified Target Industry tax refund program (QTI), and the Quick Action
Closing Fund (QACF).
February 11, 2013
•
The average annual wage for new jobs created by projects with contracts for the programs
included in this analysis was $53,169, which is nearly 28% greater than the $41,633
average annual wage that was required for these jobs.
•
As of the last job verification for each project, projects with completed contracts created 50%
more jobs than were required by the state.
•
Completed contracts required an average of five years to move from contract execution to
completion. Over the life of the contract, the associated project, on average, was required to
verify the number of jobs created in Florida 4.9 times and received 4.8 payments from the
state.
•
Currently active contracts are on track to create more jobs than required by the state. The
majority (61%) of the 547 contracts that were active as of December 31, 2012 are recent
projects, with contract dates in FY2011, FY2012, or FY2013. Currently active contracts have
reached, on average, 0.8 of 4.7 (18%) of their project milestones (or checkpoints). These
contracts have, however, already created 24,443 (46%) of the total net new jobs required by
their contracts with the state.
•
Of the 1,307 executed contracts from FY1996 to FY2013 Q2, 83% were Qualified Target
Industry (QTI) incentives, including contracts for Brownfield Redevelopment Bonus add-on
awards.2 With 81,209 net new jobs attributed to projects receiving QTI & Brownfield
Redevelopment Bonus add-on awards, jobs associated with these programs account for
nearly 93% of total confirmed net new jobs and 43% of net state incentive payments for
included incentives.
•
Over the July 1, 1995 to December 31, 2012 period, there were 38 contracts that required
retained jobs in addition to net new job creation. Because the employment amounts
presented in this report only include net new jobs required and created, the results
understate the total job impact for the projects also requiring and confirming job retention.
•
Contracts that are classified as inactive may have completed one or more planned
checkpoints and received net incentive payments from the state before being classified as
inactive. While projects with inactive contracts have generally underperformed relative to
required outcomes, they have been somewhat more successful in meeting job creation
targets than investment targets. Overall, inactive projects have achieved 59% of their job
creation targets and 42% of their required capital investments.
•
There were 441 terminated contracts over the study period. These projects failed to meet
contract requirements or withdrew from the incentive program and never received a state
payment. Although $15.4 million of state payments were authorized and made to an EFImanaged escrow account, the funds were returned from the escrow account when the
project was terminated and before they were actually paid to the recipient businesses.
Therefore, there is no net state cost associated with terminated contracts.
2
Of the 1,090 executed QTI and Brownfield add-on contracts, 1,001 (92%) were QTI contracts and 89 (8%) were
Brownfield add-on contracts.
ii
February 11, 2013
Table ES-1. Summary of Florida outcomes for projects receiving financial incentives
through selected Florida incentive programs, FY1996-FY2013 Q2
Dollars in millions
Completed
contracts
117
Active
contracts
547
Inactive
contracts
202
Terminated
contracts
441
All
executed
contracts
1,307
Jobs
Total net new jobs contractually required
Net new jobs confirmed
Ratio of confirmed/required net new jobs
21,137
31,619
1.50
52,725
24,443
0.46
41,712
24,567
0.59
62,178
6,814
0.11
177,752
87,470
0.49
Avg. number of checkpoints passed
Avg. percentage of checkpoints passed
4.89
100%
0.83
18%
2.11
40%
0.20
4%
1.18
26%
Capital investment
Capital investment contractually required
Capital investment confirmed
Ratio of confirmed/required investment
$803
$1,625
2.02
$2,882
$899
0.31
$1,530
$638
0.42
$358
---
$5,573
$3,162
0.57
Incentive awards
Total incentive award (including local match)
Net state payments to-date
$100.5
$76.2
$373.0
$141.9
$235.1
$72.4
$268.4
--*
$977.1
$290.5
561
410
351
--
1,322
4.79
0.75
1.74
--
1.01
Contracts
Number of net state payments
Average number of net state payments
received per project
*Note: $15.4 million of state incentives were authorized as payments to projects that were later classified as “Terminated”. The
entirety of this amount was returned to the state from the escrow account managed by EFI, resulting in no net cost to the state.
Source: Ernst & Young LLP analysis based on EFI-assisted project data provided by the State of Florida DEO.
iii
Selected Florida business incentive outcomes,
FY1996 Q1 – FY2013 Q2
I. Introduction
Enterprise Florida, Inc. (EFI) promotes state incentive and economic development programs
throughout Florida and serves as the primary contact for businesses looking to relocate,
expand, or retain current operations in the state. Ernst and Young (EY) was commissioned by
EFI to analyze the status and performance indicators related to selected state business
incentive programs from fiscal year (FY) 1996 through the second quarter of FY2013
(December 31, 2012).
The report summarizes projects in terms of achieving specific milestones, by project status,
industry, and location. Specifically, the report tracks projects through various stages of approval,
compliance with incentive program requirements, and completion. The results presented in this
report provide information on the outcomes of specific projects rather than the economic impact
of these projects, which has been analyzed separately in another Ernst & Young report.3 For
example, the analysis presents the number of net new jobs created by a project but does not
attempt to quantify the number of years these jobs remained in place after the final performance
was verified or the ultimate direct and indirect economic contribution of these jobs.
The key findings below summarize Ernst & Young’s analysis of data and project information
verified by the Florida Department of Economic Opportunity (DEO), provided to Ernst & Young
by EFI. Note that the data and information provided by EFI has not been audited or
independently verified by Ernst & Young.
II. Methodology and data
This report relies on data collected and verified by the Florida DEO on each project approved by
the state for incentives. A description of the incentives and outcome metrics included in this
analysis are detailed in the following section.
Identification of projects included in analysis
The analysis considers the Florida state incentive programs provided to EFI-assisted projects
that are shown in Table 1. These incentive programs were selected by EFI to be included in the
analysis because of their similar objectives, scopes, and structures. Incentive awards are
specified in contracts between the State of Florida and the business undertaking the project. A
single project may have more than one incentive contract.
The most significant incentive program in terms of the number of contracts executed, the
number of net new jobs confirmed and the amount of state payments is the Qualified Target
Industry (QTI) Tax Refund, frequently offered in conjunction with the Brownfield Redevelopment
3
Ernst & Young LLP, Florida’s public return on investment in Enterprise Florida, Inc. and business incentives; fiscal
years 2010 -2012, January 2013.
February 11, 2013
Bonus add-on award (BFR add-on). Under QTI, tax refunds are made to qualifying businesses
creating jobs within target industries. These projects are conducted under performance-based
contracts with the state which spell out specific milestones for triggering incentive payments.
The BFR add-on is a tax refund intended to encourage redevelopment and job creation in
designated “brownfield” areas that previously hosted industrial or commercial facilities but have
since been abandoned or become underused. Such blighted areas are of particular concern to
surrounding communities due to the risk or presence of environmental contamination. Like QTI,
BFR add-on contracts include incentive milestones. Projects receiving payments under the QTI
& BFR add-on incentives are presented together.
Incentive programs that are not listed in Table 1 are not included in the analysis. These include
business incentive programs that are not marketed by EFI, programs that are primarily tax
credits, and programs that have substantially different economic development or policy goals
than the included programs. For example, the contracts, outcomes, and costs associated with
the Semiconductor, Defense and Space Technologies Sales Tax Exemption (SDST); Economic
Development Transportation Fund (EDTF); Enterprise Zone Tax Credits; Innovation Incentive
Fund (IIF); and Capital Investment Tax Credit (CITC) are not included in the results presented in
this analysis. The IIF, for instance, has a repayment mechanism that requires recipients to remit
a portion of profits from successful spin-off companies related to the projects receiving state
funding and is primarily used to fund research projects rather than job creation projects.
Table 1. Overview of incentive programs included in the analysis
Code
Incentive name
BFR
BFR add-on
HIPI
LGDAMG
MSII
QDSC
QTI
QACF
Brownfield Redevelopment Bonus Standalone
Brownfield Redevelopment Bonus QTI add-on
High Impact Performance Incentive Grants
Local Government Distressed Area Matching Grant Program
Manufacturing and Spaceport Investment Incentive Program
Qualified Defense & Space Contractor Tax Refund Program
Qualified Target Industry Tax Refund Program
Quick Action Closing Fund
Requires
investment
Requires
job
creation
Yes
No
Yes
No
No
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Source: EFI, 2013.
Throughout this report, projects are classified into various status categories to describe the
outcomes of individual project contracts as of December 31, 2012. An individual project may
have more than one status classification during its life as it moves through various stages of
approval, contract execution, and performance against goals specified in the contract. A single
project that has executed more than one incentives contract with the state may have contracts
that fall into more than one status as of December 31, 2012 if the contracts have different terms
2
February 11, 2013
and requirements.4 The analysis presented in this report reflects a contract’s status on
December 31, 2012 and therefore presents a current snapshot of the portfolio of EFI-assisted
projects receiving assistance from the programs listed in Table 1, many of which are still active.
Projects may have been classified differently in the past and may change classification in the
future.
Approved contracts. Approved projects are those that have been approved by the state to
execute an incentives contract agreement. Approved contracts have anticipated job creation or
investment targets and have been offered to a particular business.
Executed contracts. Once approved for an incentive package, a project will then typically
execute an incentive agreement with the state. Of the 1,474 approved incentive applications,
89% (1,307) resulted in executed contracts. The remaining 167 applications did not execute a
contract with the state and are referred to as “withdrawn” or “vacated”. Over the period, 23,538
anticipated net new jobs were associated with withdrawn or vacated contracts.
Current contract status. Projects with an executed contract fall into several categories based
on their progression toward required contract goals. Contracts that have met all program
requirements to-date are included in one of two categories: (1) “complete contracts” are those
that have successfully completed all requirements and received incentives and (2) “active
contracts” are contracts that are currently open and ongoing, meaning they are in good standing
and are currently meeting requirements and receiving incentive payments. The analysis also
considers two categories of contracts that have not met all project requirements as specified in
their contract: (1) “inactive contracts” that have met some, but not all requirements, and (2)
“terminated contracts” that did not meet contract requirements and did not result in state
incentive payments to the businesses.5 Inactive and terminated contracts are ineligible to
receive future incentive payments and are considered closed.
Project investments and outcomes
Using project and incentive data provided by EFI and collected by DEO, the analysis shows
project outcomes in terms of four primary indicators: (1) net new jobs, (2) average annual
wages, (3) capital investment, and (4) actual incentive payments made by the state.
•
Employment. DEO monitors and verifies job creation for each contract multiple times over
the project lifecycle. First, DEO confirms a “base jobs” number, equivalent to the number of
existing jobs at the start of the incentives contract.6 Most incentives contracts require
additional jobs to be created over the project lifecycle, reported as “net new jobs” in this
analysis. The number of net new jobs is equal to the change in employee headcount from
the base year. Net new employees are the number of full-time equivalent employees verified
4
In these instances, the associated jobs and investment have been allocated between contracts within a project, as
appropriate, to remove instances of double-counting of jobs and capital investment.
5
Terminated contracts are those that never received a payment from the state. Although a payment may have been
authorized and made to an EFI-managed escrow account, the funds were returned from the escrow account before
they were actually paid to the recipient businesses. Therefore, there is no net state cost associated with terminated
contracts.
6
The State of Florida verifies submitted job claims against the business’s unemployment insurance records and
payroll report. Source: Florida DEO, 2013.
3
February 11, 2013
by DEO. The number of net new jobs for each project is equal to the total number of net new
positions created by the project in Florida, as of the most recent job verification date, which
may vary by contract. For completed contracts, the most recent DEO verification of jobs may
have occurred several years prior to contract completion. For all projects, the employment
amounts reported are the verified amounts in DEO’s performance monitoring system as of
December 31, 2012. For projects with multiple contracts, the total net new jobs associated
with a project have been allocated to contracts based on the size of the total incentive
award.
Throughout the analysis, each year of jobs confirmed or expected to be confirmed by DEO
is referred to as a “project checkpoint”, reflecting the fact that project checkpoints generally
occur only once during a year. Incentive contracts are often structured over three to seven
years, with an average number of approximately five planned checkpoints.
•
Average wages. Certain incentives require new jobs to achieve the average annual wage
specified in the project’s incentive contract. The analysis reports average wages of net new
jobs confirmed by the state and total confirmed wages of new employees.
•
Capital investment. Certain incentives included in the analysis, including the Quick Action
Closing Fund (QACF), Standalone Brownfield redevelopment incentives (BFR), and the
High Impact Performance Incentive (HIPI) grant program include investment requirements in
the incentive contract terms.7 The State of Florida (through DEO) confirms that the required
capital investment has occurred before paying an incentive award or authorizing the
company to claim an incentive for these projects. While other projects receiving incentives
may have also made new capital investments in Florida, the analysis only includes the
investments required and confirmed by the state.8 DEO verifies the total amount of
investment for each project with investment requirements at the end of the contract term.9
•
State incentive payments. Incentive payments in each year include only payments made
by the state. The analysis presents state payments net of repayments by businesses and
returned funds that were held in an escrow account managed by EFI. Therefore, the net
state payments shown reflect the actual cash cost incurred by the state. Over the period, of
the $334.5 million of total (gross) payments made by the state, more than $44 million was
recovered. The analysis reports the distribution and nature of the net $290.5 million of
incentive costs incurred by the state. Matching payments by local governments and
payments directly to communities (as in the case of Economic Development Transportation
Fund awards) are excluded from the analysis.10
Projects are approved by DEO to receive an incentive payment once all of the performance
metrics for a specific contract checkpoint are met. If all conditions are met, a project will
receive a full incentive payment. If conditions are only partially complete, a project may
7
Brownfield QTI add-on awards do not include investment requirements.
Since only a few of EFI’s incentive programs require investment amounts to be confirmed by the state as a condition
of their incentive contract, it is possible that the analysis is missing a significant amount of capital spending each year.
9
Businesses document activity by submitting invoices and proof of expenditures related to capital investment.
Source: Florida DEO, 2013.
10
According to EFI, local match payments are an average of 20% of the total incentive awards for the Qualified Target
Industry (QTI), Brownfield, and Qualified Defense and Space Contractor (QDSC) incentives.
8
4
February 11, 2013
qualify for a partial payment, no payment, or be considered for termination.11 Projects with
multiple incentive contracts may meet the terms of one contract and receive an incentive
payment while failing to meet the terms of another contract.
Approach limitations
Several important limitations should be noted with respect to the analysis:
•
Information reporting and analysis only. This report provides analysis and reporting of
project data collected by DEO and provided to Ernst & Young by EFI, but does not provide
independent validation, verification, or assurance that the project outcomes achieve
statutorily required outcomes. That is, the Ernst & Young analysis analyzes and summarizes
the information provided by EFI, but does not provide assurances on the quality,
completeness, or accuracy of the data provided by EFI.
•
No analysis of causation. This analysis does not attempt to determine if the EFI-assisted
projects located in Florida due to incentives or due to other factors. Although the project
outcomes are evaluated and associated with EFI-marketed incentive programs, determining
the cause of individual project location decisions, job creation, and investment is beyond the
scope of this analysis.
•
Projects receiving multiple incentives required jobs to be allocated to each incentive.
In the instances where one project executed multiple incentive contracts, it was necessary
to allocate project requirements and outcomes to the contracts separately. In the cases
where this information was not available from DEO, project requirements and outcomes
(jobs and investment) were allocated to contracts based on total contract award.
•
The analysis does not measure the economic impact of the overall benefit of the
programs. The jobs and investment associated with the projects analyzed in this report may
create economic impacts that are not analyzed in this report. The results presented only
include jobs and investment monitored by the state.
•
Not all economic development incentives are included. Table 1 of this report lists the
programs that are included in this analysis. There are additional business incentives, tax
exemptions, and other programs that provide financial benefits to businesses in Florida that
are not included in this analysis. Neither the benefits (jobs and investment) nor the costs of
these programs are included in this analysis.
•
No benefit-cost analysis is included. This analysis does not include a comparison of the
monetary benefits and costs of the incentive programs nor does it include estimates of the
benefits of alternate uses of the public funds that are used to provide incentive awards.
•
EFI and state project administration costs are not included. In addition to the cost of
providing incentive awards to the projects analyzed in this report, the state incurs costs
associated with EFI operations, DEO verification activities, and activities of other state
agencies that may have increased costs as a result of the projects.
11
Florida DEO, 2013.
5
February 11, 2013
III. Approved incentive applications
Each year, the state approves incentive applications and enters into performance-based
agreements with the businesses receiving incentives. Businesses may not ultimately contract
with the state for a number of reasons. Analyzing the reasons why projects do not occur is
outside the scope of this report. However, based on the project data provided by DEO, these
withdrawn or vacated contracts account for only 11% of approved awards. As shown in Table 2,
of the 1,474 incentive applications that were approved over the study period, 167 applications
did not result in an executed incentives contract. There were 23,538 anticipated jobs and $681
million of capital investment associated with these withdrawn applications, accounting for 12%
of total anticipated new jobs and 11% of total anticipated investment. Likewise, the $132 million
in awards to applications that were withdrawn or vacated make up 12% of total incentive
awards.
Table 2. For the incentive applications approved between FY1996 through FY2013 Q2,
comparison of required/anticipated metrics, as of December 31, 2012
Dollars in millions
Approved applications
Net new jobs anticipated
Capital investment required
Total approved incentive award
(including state and local portions)
Executed
contracts
1,307
Vacated or
withdrawn
applications
167
Total
approved
applications
1,474
177,752
87,470
$5,572
$3,162
23,538
0
$681
$0
201,290
87,470
$6,253
$3,162
$977
$132
$1,109
Note: The table shows the total cumulative jobs and investment confirmed by DEO. These projects may still be considered
“Active” and are in the process of adding employees or facility construction.
IV. Confirmed jobs, investments & net state payments
Table 3 shows contract performance in terms of outcomes as of December 31, 2012, based on
the most recently verified information for each project receiving an incentive payment. Of the
$977 million of total state and local incentives contracted over the July 1, 1995 to December 31,
2012 period, the state paid out approximately 30% ($291 million) of the total contract awards.
Projects receiving incentive payments have created a total of 87,470 net new jobs, with an
average annual wage of nearly $53,170. The average annual wage exceeds the average
required wage by nearly 28%. Total confirmed capital investment over the study period was
$3.2 billion, 57% of the total required investment of $5.6 billion. This difference is due to newer
contracts that have not yet started construction or to contracts that are now classified as inactive
or terminated. Additional detail on contract outcomes, by contract status, is outlined in the next
section.
6
February 11, 2013
Table 3. For the projects that executed contracts between FY1996 through FY2013 Q2,
comparison of required versus confirmed metrics, as of December 31, 2012
Dollars in millions
Net new jobs
Average wage
Capital investment
Incentives
Required/contracted
177,752
$41,633
$5,573 million
$977 million
Total confirmed by
DEO as of 12/31/2012
87,470
$53,169
$3,162 million
$291 million
Ratio of confirmed
to required
0.49
1.28
0.57
0.29
Note: Confirmed incentive payments include only state incentive payments and are net of funds returned to the state.
Over the period, there were 38 contracts that required retained jobs in addition to net new job
creation. Because the results presented in this report only show net new jobs required and
created, the tables understate the total job impact for each incentive since these projects were
not required to create or report new employment.
Outcomes by incentive
As shown in Table 4, of the 1,307 contracts executed between FY1996 and FY2013 Q2, 83%
were QTI incentives (including projects receiving BFR add-on awards). With 81,209 net new
jobs confirmed by projects with QTI & BFR add-on contracts, these programs account for nearly
93% of total Florida job creation verified by DEO for these contracts.
Contracts that received QACF incentives increased from 2% of total contracts executed
between FY1996 and FY2004 to 12% of total contracts executed from July 1, 2004 through
December 31, 2012. Standalone Brownfield incentives increased from less than 1% of total
contracts executed between FY1996 and FY2004 to 5% of total contracts executed from July 1,
2004 through December 31, 2012. Additionally, the number of executed contracts has grown
over the period, including executed contracts associated with new programs. Between July 1,
2010 and December 31, 2012, there were 33 executed MSII contracts and three executed
LGDAMG contracts. As incentive programs have expanded and been added, QTI and BFR addon contracts have lost share, relative to other incentives. While QTI & BFR add-on contracts
comprised 96% of all contracts executed from FY1996 through FY2004, these incentives
comprised 78% of total contract executed from July 1, 2004 through December 31, 2012.
7
February 11, 2013
Table 4. For contracts executed between FY1996 through FY2013 Q2, summary of
outcomes in Florida as of December 31, 2012, by incentive type
Dollars in millions
Number of contracts executed
Total net new jobs confirmed
Total capital investment confirmed
Net state incentive payments
HIPI
12
1,475
$2,153.7
$20.5
QACF
110
2,442
$914.7
$138.3
QTI & BFR
add-on
1,090
81,209
n/a
$125.9
Other
incentives
95
2,344
$93.8
$5.9
Total
1,307
87,470
$3,162.2
$290.5
Note: “Other incentives” includes BFR, LGDAMG, MSII, and QDSC. QTI & BFR add-on incentives do not contain a capital
investment requirement.
Outcomes by industry sector
Projects were classified into industries based on EFI industry designations, project NAICS or
SIC codes provided by EFI, and the identities of incentive recipients, shown in Table 5.12 Table
5 shows that their outcomes varied by industry. Net new jobs confirmed in the information
technologies sector – one of the several industries targeted by EFI – saw average annual
wages in excess of $80,000. The lowest average wage was in the “emerging technologies”
sector, which includes global logistics and nanotechnology, at just over $33,500. Capital
investment was concentrated in the aviation/aerospace industry, which accounted for nearly
44% of the total projected-related capital investment confirmed by DEO for the programs
included in this analysis.
outcomes in Florida as of December 31, 2012, by industry sector
Industry
Aviation / aerospace
Clean technologies
Corporate headquarters
Emerging technologies
Financial / professional services
Homeland security / defense
Information technologies
Life sciences
Other manufacturing
Other industries
Total
Number of
contracts
73
15
290
55
202
20
126
42
412
72
1,307
Total net
new jobs
confirmed
4,405
140
17,481
6,764
32,560
1,065
8,424
1,747
13,327
1,557
87,470
Average
wage
confirmed
$53,307
48,049
68,375
33,511
45,164
66,478
80,211
50,197
44,646
56,214
$53,169
Total
capital
investment
confirmed
($millions)
$1,390.7
0.0
279.2
170.6
105.8
209.0
755.3
29.0
194.5
28.1
$3,162.2
Net state
incentive
payments
($millions)
$31.8
0.4
51.4
13.6
69.7
5.4
50.4
25.3
39.4
3.1
$290.5
12
A detailed list of industries included in each EFI industry sector is included in Appendix A.
8
February 11, 2013
Outcomes by Florida region
Table 6 presents project outcomes by Florida economic development region.13 For example,
over the period, more than 26,500 net new jobs were created in Northern Florida, comprising
approximately 30% of net new Florida jobs created by projects included in this analysis.
outcomes in Florida as of December 31, 2012, by Florida region
Central East
Central West
North
Southeast
Southwest
Total
Number of
contracts
Total net
new jobs
confirmed
Average
wage
confirmed
Total capital
investment
confirmed
($millions)
Net state
incentive
payments
($millions)
331
368
317
228
63
16,871
23,846
26,503
16,494
3,756
$48,797
49,477
58,346
53,773
57,071
$2,163.8
400.2
238.6
345.4
14.2
$88.5
74.1
78.9
40.6
8.4
1,307
87,470
$53,169
$3,162.2
$290.5
V. Projects by contract status
Figure 1 shows the distribution of contracts, confirmed net new jobs, investments, and state
incentive payments for each of the four contract statuses. Over half of the contracts executed
between FY1996 through FY2013 Q2 have either been completed or are still active and
ongoing. Together, projects with completed and active contracts have confirmed nearly 80% of
the total capital investment and created approximately 65% of the total net new jobs confirmed
by the state. Net new jobs associated with completed contracts make up the largest share of
new job creation, with 36% of total net new jobs. Active contracts have received nearly 50% of
net state payments, while no net payments were made to terminated contracts.
13
A map of Florida regions, by county, is included in Appendix B.
9
February 11, 2013
Figure 1. Distribution of contracts, confirmed net new jobs, capital investments, and
state incentive payments by project status, FY1996 – FY2013 Q2
Number of contracts executed
9%
42%
Amount of capital investments
Number of net new jobs confirmed
Net state payments
15%
51%
28%
36%
28%
26%
Complete
34%
20%
28%
49%
Active
Inactive
8%
25%
Terminated
Note: Amounts shown may not sum due to rounding.
Source: Ernst & Young LLP analysis based on data provided by Florida DEO.
Table 7 shows the total and average outcomes by contract status over the period. For contracts
completed over the period, 181 net new jobs, on average, were required per contract. Once
completed, DEO confirmed an average of 270 jobs per completed contract, 50% more than the
average job creation requirement. For completed contracts, net new jobs were reported by
projects and confirmed by DEO at an average of 4.9 checkpoints over the life of the project.
Currently, active contracts have reached an average of 0.8 (18%) of 4.7 planned checkpoints.
This average is based on the number of checkpoints in which a project has reported jobs, as a
percentage of total number of planned checkpoints for the contract. This assumes that the
project will create jobs in equal increments over the project life cycle. In reality, the contract
terms may include a ramp-up period that differs by project; these project-to-project variations in
annual employment requirements have not been considered in this analysis.
For terminated contracts, net state payments are zero, indicating that the state is identifying
underperformance or non-performance early in the incentive contract and/or structuring
incentive agreements to effectively recover state funds. In contrast, inactive contracts have
achieved some, but not all, of their project milestones and have received a total of $72.4 million
in net state incentive payments. However, inactive contracts are not eligible for future payments.
The net state incentive payment per job for inactive contracts is $2,948 per verified job,
compared to $5,804 per job for active contracts and $2,411 per job for completed contracts.
Note that the total award includes local match payments so the net state payment, as a
percentage of the total incentive award, may be less than 100% for completed contracts. On
average, local match payments are roughly 20% of the total contract award amount. As shown
in Table 7, net state payments to businesses with completed contracts totaled $76.2 million out
of $100.5 million (76%) of total incentive awards including the local match.14
14
Programs with local matching include: BFR, LGDAMG, QACF, QDSC, and QTI & BFR add-on.
10
February 11, 2013
outcomes in Florida as of December 31, 2012, by contract status
Dollars in millions
Number of contracts
Jobs
Total base jobs confirmed
Total net new jobs required
Avg. net new jobs required
Avg. net new jobs confirmed
Ratio of confirmed / required jobs
Avg. checkpoints with net new jobs
Avg. checkpoint completion
Capital investment
Capital investment required
Avg. investment required
Avg. investment confirmed
Ratio of confirmed/required investment
Incentive awards
Award total (including local match)
Net state payments
Number of state payments
Complete
Active
Inactive
Terminated
Total
117
547
202
441
1,307
20,145
21,137
31,619
80,255
52,725
24,443
38,310
41,712
24,567
21,847
62,178
6,841
160,557
177,752
87,470
181
270
1.50
96
45
0.46
206
122
0.59
141
16
0.11
136
67
0.49
4.89
100%
0.83
18%
2.11
40%
0.20
4%
1.18
26%
$802.8
$1,624.6
$2,881.9
$899.4
$1,530.2
$638.2
$357.7
--
$5,572.6
$3,162.2
$6.9
$13.9
2.02
$5.3
$1.6
0.31
$7.6
$3.2
0.42
$0.8
---
$4.3
$2.4
0.57
$100.5
$76.2
$373.0
$141.9
$235.1
$72.4
$268.4
--
$977.1
$290.5
561
410
351
--
1,322
Source: Ernst & Young LLP analysis based on data provided by Florida DEO.
VII. Conclusion
Projects receiving financial assistance through the incentive programs included in this analysis
have created over 87,470 Florida jobs and nearly $3.2 billion of investment that has been
confirmed by the Florida DEO. Of the 1,307 contracts executed for the analyzed incentive
programs from FY1996 through FY2013 Q2, 117 contracts have been completed while 547
remain active. New jobs associated with completed contracts are 50% higher than the jobs
required by the contract terms. Based on the performance of projects with completed and active
contracts, the majority of contracts included in this analysis have met or are expected to meet
incentive contract requirements.
11
February 11, 2013
Appendix A. EFI targeted industry list
Aviation / aerospace
Aircraft and aircraft parts manufacturing
Maintenance repair and overhaul of aircrafts
Navigation instrument manufacturing
Flight simulator training
Space vehicles and guided missile manufacturing
Satellite communications
Space technologies
Launch operations
Cleantech
Biomass & biofuels processing
Energy equipment manufacturing
Energy storage technologies
Photovoltaic
Environmental consulting
Emerging technologies
Global logistics
Marine sciences
Materials science
Nanotechnology
Financial / professional services
Banking
Insurance
Securities and investments
Corporate headquarters
Engineering
Legal
Accounting
Consulting
Information technologies
Modeling, simulation and training
Optics and photonics
Digital media
Software
Electronics
Telecommunications
Life sciences
Biotechnology
Pharmaceuticals
Laboratory and surgical instruments
Diagnostic testing
Other manufacturing
Food and beverage
Automotive and marine
Plastics and rubber
Machine tooling
Other industries not elsewhere classified (NEC)
Accommodations and food service
Direct mail
Research and development, NEC
Retail
Other industries NEC
Homeland security / defense
Optical instruments
Navigation aids
Ammunition
Electronics
Military vehicles
Shipbuilding and repair
Computer systems design
Simulation and training
* “Other industries NEC” sector added by Ernst & Young to classify projects where industry data was missing, unavailable, or was
added by Ernst & Young.
Source: Enterprise Florida, 2012 Incentives Report. Released 2012, pg. 51.
12
February 11, 2013
Appendix B. Florida economic development regions
Source: Florida Department of Economic Opportunity, 2012.
13
DRAFT Minutes Enterprise Florida Board Meeting
January 31, 2013
A regular meeting of the Enterprise Florida, Inc. (EFI) Board of Directors was held on January 31,
2013 in Tallahassee, Florida.
Members Present:
Jeff Atwater
Lewis Bear
Alan Becker
Tony Bennett
Mark Bensabat
Jay Beyrouti
Jesse Biter
Pam Bondi
Park Brady
Jeff Chamberlain
Marti Coley
Andrew Corty
Brett Couch
Marshall Criser
Julius Davis
Hayden Dempsey
Ken Detzner
Bill Dymond
Blake Gable
Danny Gaekwad
Gordon Gillette
Howard Halle
Marshall Heard
Present Via Telephone:
Rosie Alfonso(Millar Wilson’s alternate)
Ron Campbell
Tony Villamil
Bentina Terry(Stan Connally’s alternate)
Chris Marconi (Bill Heavener’s alternate)
Joe Meterchick
Henry Rodriguez
Andy Rosen
Hal Valeche
Mike Hightower
Belinda Keiser
Beth Kirkland
Chris Kise
Tom Kuntz
Fred Leonhardt
Bob McAdam
Deborah Millin
Hal Melton
Gilberto Neves
Susan Pareigis
Win Phillips
Adam Putnam
Gene Schaefer
Governor Rick Scott
Eric Silagy
Kelly Smallridge
Mark Wilson
Others Present:
Jorge Alvarez (Ernesto Perez’s alternate)
David Balloff (Gary Spulak’s alternate)
Rod Duckworth(Tony Bennett’s alternate)
Lt. Governor Jennifer Carroll
Chris Flack (Alex Glenn’s alternate)
Marva Johnson (Kevin Hyman’s alternate)
Jeff Parrish (Dominic Calabro’s alternate)
Gray Swoope
Agenda:
I. Welcome & Roll Call
II. Chairman’s Report & Jobs Q&A Session
III. Promoting the State for Business – Florida’s Business Brand
IV. Jobs Focused Legislative Q&A Session
V. President’s Update
VI. Action Items & Vice-Chairman’s Report
Approval of November 9, 2012 Board of Directors Meeting Minutes
Approval of Consent Agenda
VII. Closing Remarks & Adjournment
Enterprise Florida Board Meeting Minutes | January 31, 2013
PROCEEDINGS
A quorum being present, Vice Chairman Brett Couch called the meeting to order at 8:38 a.m.
Chairman’s Report
Governor Scott informed the board that his budget comes out this afternoon. He is proposing a
funding increase of $1.2B for K-12 education, increased funding for economic development, and
increased funding for VisitFlorida. Additionally, the state has dramatically increased the funding in
and around its ports, which has increased exports and positions Florida to capitalize on the Panama
Canal expansion and expanding economies in Central and South America. Scott informed the board
that Florida’s fiscal house is in order. The state has paid down $2B in debt in two years.
Scott reported on several rankings that indicate that Florida is doing well in the nation and in the
world economy. He reiterated to the board that jobs and education are the two most important things,
and if the state continues to focus on those two things then people in the state are going to prosper.
He thanked everyone in room for his/her commitment, but cautioned that there is still a lot of work to
be done.
Couch opened the floor for a question and answer session between the Governor and board
members. Scott was asked what Florida is doing to support small business. He responded that
Florida is working to make life easier for businesses by eliminating regulations and promoting a
better attitude within government agencies. He also mentioned that EFI has conducted several
business trade missions, which provide excellent opportunities for small businesses to increase their
international trade, and he and Lt. Governor Carroll have participated in many of them.
Scott was asked to comment on the greatest risks to Florida’s success. He stated that nationally, he
is concerned with what will happen in terms of taxes and regulation. At the state level, Citizen’s
Insurance is still a big concern. Although progress has been made, it is still not funded well enough.
Secondly, the state pension plan is $19.2B underfunded. When questioned about foreclosures, he
stated that there are still quite a few homes in foreclosure process. Although more money has been
allocated to the court system, they haven’t figured out a way to accelerate the process. He
acknowledged that is has been hard, politically, to get it fixed.
A board member asked Scott where he sees trade growth in the next three to five years. Scott
responded that Latin America continues to be a strong area for growth. Florida also needs to look at
expanding trade in places like India, Africa, Japan, China, and North Korea.
Scott was asked what feedback he gets when he reaches out to businesses around the country.
Scott replied that there is usually discussion about education, litigation risks, and the talent pipeline.
He said incentives do come into the discussion, but are not one of the first topics of conversation. He
said businesses like that Florida is a right to work state.
When asked what Florida is doing to perpetuate and expand baseball spring training Scott answered
that the Sports Foundation is always working to be supportive of teams that have spring training
operations in Florida and is also trying to find more teams to recruit.
A question was posed concerning what Florida is doing this year to protect military jobs? Scott
responded that Lt. Governor Jennifer Carroll and the legislature are focused on the military and have
regular base commander meetings. Carroll is leading a task force that is cultivating relationships with
people in Washington. Scott pointed out that Florida has actually picked up missions in the last few
years. He noted that there is going to be another BRAC and once that process starts military
commanders cannot work with us. Lastly, he stated that his budget includes money for
encroachment around bases.
Scott was asked whether he favors the proposal to change the state pension fund to a 401(k). He
stated that he has not yet seen the legislative proposal, so he cannot comment on it. But, he did note
that many people are relying on the pension plan and there needs to be a conversation about how to
fund it and what is fair to taxpayers.
Promoting the State for Business – Florida’s Business Brand
Melissa Medley introduced Tom Bolling of On Ideas, to present Florida’s strategic business brand.
Bolling reminded the board of Florida’s key competitive issues, as reported at the last board meeting
by North Star: lifestyle, strength and size, and attitude. The following positioning statement was
distilled from North Star’s research findings: “For those seeking an ideal live-work balance, Florida is
the super-state with boundless energy and borderless opportunity where the sun always shines on
you and your business.” From that, Florida’s business brand was created: Florida is the perfect
climate for business. Bolling shared some mock-ups for the initial brand campaign with the board.
A question and answer period followed. Medley and her marketing team were commended by
several board members for their hard work in getting to this point. One of the questions Medley
expanded upon concerned subsequent steps beyond the initial campaign launch. She indicated
several areas will need to be addressed, including: handling the overall responses to the marketing
efforts and translating those responses to prospect lead generation for the business development
team, developing an infrastructure to maintain a higher level of marketing activity, putting a
partnership program in place with stakeholders and the business community, program funding, and
how to push out campaigns and messaging in a sustainable way that lasts years and are continually
renewed. Medley also commented on the social media aspect of the campaign.
When asked about funding levels and how it compares to tourism marketing, Medley responded that
last year Florida invested $55M in tourism marketing and $0 in business marketing. EFI has carved
$1M for marketing and branding activities out of its budget. This year, EFI is asking the legislature for
$3M for business marketing. For the remainder of the fiscal year, EFI has approximately $250,000 in
its budget to begin the campaign roll out. Medley went on to say that EFI is proposing a partnership
program to support an ongoing marketing program for the state of Florida, and after research and
discussion by a stakeholder task force there is a goal to raise $3M to match this year’s budget
request.
Jobs Focused Legislative Q&A Session
Attorney General Pam Bondi, Chief Financial Officer Jeff Atwater, State Representative Marti Coley,
and Florida Chamber of Commerce President Mark Wilson participated in a jobs focused question
and answer session with board members.
Pam Bondi began the session by talking about legislation that affects the business industry. A big
issue for the business industry is organized retail theft. This legislative session they are asking for
increased penalties and guidelines that put these organized retail theft rings on par with RICO
statutes. Bondi was asked about frivolous lawsuits against small businesses. She suggested
reporting these cases to the Florida bar; her office does not handle civil cases but can offer advice.
Marti Coley was asked about how the BP money and $10M appropriation. Coley responded that
$30M was appropriated for the eight counties mostly affected by the gulf oil spill. Coley pointed out
that this money is not controlled by the state, but rather by the counties themselves. The larger BP
settlement money has not yet been designated, but the counties will use it specifically to establish
new businesses.
Bondi is working with the BP claims center as they are disbursing claims money to ensure that the
process is transparent and that claims are being paid fairly and in a timely manner. She is currently in
negotiations with BP regarding the state claim.
Coley was asked about initiatives for rural communities. Coley is working on an agri-tourism program
with Commissioner Putnam. They are looking to put legislation in place to protect businesses that
open their operations to the public. She is also working on the issue of enterprise zones in small rural
communities. These communities may be small in population, but large geographically, and so the 20
square mile designation limits their opportunities.
Mark Wilson took an opportunity to comment on Florida’s litigation climate and the need for tort
reform. A board member asked about the areas that have been the impediments to this issue and
what the board can do. Wilson responded that businesses should talk to their elected officials.
Jeff Atwater was asked about his views on Citizen’s Insurance and the state pension fund. He feels
that they are both going to have to be worked through incrementally. He informed the board that the
profile home covered under Citizen’s is a very modest home, and these homeowners would not be
able to withstand in one single year a rate adjustment that would get them to the actuarially sound
rate. So it is going to have to be incrementally increased, while the bigger risks are reinsured. He
feels a very clear path among all things that are in play needs to be set to get to a place where the
marketplace can come in and compete and be profitable.
Atwater feels the pension fund issue also needs to be attacked through a multi-year plan. He said
that there are several aspects that need to be examined, including the benefit package, the
allocations put into the fund, and whether the investment portfolio has been right. He said during
down times the full allocations were not put into the fund, and Florida is alone in having 100% paid
benefits. Atwater said there is work to be done in getting the benefits package correct and getting
back to full allocation into the fund over multiple years.
Atwater said that $50B of the state budget goes to the marketplace in the form of a contract. They
are going to try again this year for some contract reform to put in place clearer expectations,
deliverables, and performance measures.
Wilson was asked what the Chamber is doing to support the Governor and Gray [Swoope] in the
area of the state’s talent pool. Wilson said the Council of 100 has done great work around closing the
talent gap. Florida has the number one ranked workforce system in the nation. Coley added that
technical training is a critical component of workforce training and the state talent pool. More work
can be done to strengthen career academies to produce workers with skills relevant to the job
market.
Bondi commented on the foreclosure issue. She said there is $309M sitting in a pot. She said it is
critical to let people know that there is money out there that is available to homeowners that are
underwater on their mortgage.
The panel was asked what they feel are the most appropriate incentives to grow jobs with
incumbents and to attract people to relocate. Wilson stated that the best incentive is a business
climate that is so good that a business wouldn’t want to go anywhere else. The only time incentives
become very important is when several other states compete for the same business. Most small
businesses that create the majority of our jobs don’t even think about incentives, they think about
business climate.
The panel discussion closed with comments concerning the new attitude in the state. Governor Scott
has eliminated thousands of rules and regulations, and has worked to change the attitude within
state agencies. The attitude is now “What can we do to help you?” Atwater also stated that a big
difference is the involvement of the business community.
President’s Update
Gray Swoope started with a general overview of how EFI approaches jobs. He related an anecdote
he had heard from Lou Holtz about breaking down a goal into manageable pieces. He said that story
was useful in putting Florida’s seven years / 700,000 jobs goal in perspective. Swoope said there are
three areas to consider in meeting this jobs goal: market-driven business growth, facilitated growth,
and competitive projects.
EFI’s piece is to focus on competitive projects and the trade side of it. Swoope reminded the board
that the competitive process is a long process. Part of that process involves getting the brutal facts:
looking at how Florida rates competitively and then determining how to brand the state as a business
destination. The next step involves marketing Florida – inside and outside the state. EFI plans and
executes several trade missions to market the state. Swoope told that board that relationships matter
– relationships with people at this table, communities around the state, and entities and businesses
outside the state.
Swoope spent the remainder of his presentation talking about incentives. He stated that incentives
tend to attract lots of attention, but they are really a very small part of the process. By statute, EFI is
required to annually produce an incentives report. Swoope said the message is good.
This year’s incentive report looks at incentives not only in a three-year snapshot, as required, but
also from when EFI was created in 1995. Swoope pointed out that roughly three-quarters of the
state’s incentives are performance-based. That is, if a company does not meet its performance
measures, then there are draw-backs in place where money is repaid, or the payout is suspended.
Swoope informed the board that the program with the most exposure is the Quick Action Closing
Fund. Since 1995, out of 120 transactions there have been only three complete failures, which shows
that the program is working. In the 120 projects, 18 paid money back to the state or not hitting
performance goals.
Looking at the three-year snapshot, incentive programs have resulted in 52% more jobs than
required by contract, 59% higher wages, and a return of $12.12:$1, which is 86% higher than
projected.
Swoope quickly reviewed performance measures for the last two years stating that the number of
announced projects is up 40% and capital investment is up 95%.
Action Items & Vice Chairman’s Report
Couch proceeded with the business portion of the meeting.
Jeff Chamberlain made a motion to approve the minutes of the November 9, 2012 board meeting,
which was seconded by Hal Melton, and approved unanimously.
Approval of Consent Agenda
1. Approve New and Renewing At-Large Board Members
Re-elect renewing at-large members for a term to end January 30, 2014:





Blake Gable, Barron Collier Companies
Gilberto Neves, Odebrecht Construction, Inc.
Ernesto Perez, Dade Medical College
Andy Rosen, Kaplan Higher Education Corp.
Gene Schaefer, Bank of America, N.A.
Elect member replacements of current at-large members:


Sheldon Fox, Harris Corporation, for a term to end November 2013
Alex Glenn, Progress Energy, for a term to end August 2013
2. Approve Interim Financial Report
3. Approve FY2012-13 EFI Plan; a measures and standard revision of FY2011-12 Tactical Plan
approved by the Board in January 2012.
Hal Melton made a motion to approve the consent agenda, which was seconded by Mark Bensabat,
and approved unanimously.
Couch indicated that there were two new board members proposed after the Executive Committee
meeting. Election to the board requires a separate vote.
Elect new at-large member for a term to end January 30, 2014:

Fred Leonhardt, GrayRobinson
Elect member replacement of current at-large member:

Mike Hightower, Florida Blue, for a term to end June 30, 2013
Stan Connally made a motion to approve election of Fred Leonhardt and Mike Hightower, which was
seconded by Kelly Smallridge and approved unanimously.
Couch welcomed new board appointees:



Governor appointee, Julius Davis
Senate appointee, Lewis Bear
Senator Nancy Detert
Couch announced new Executive Committee members, with one change. Park Brady will serve in
the Defense sector.
Beth Kirkland made a motion to approve new Executive Committee members, which was seconded
by Stan Connally and approved unanimously.
Couch thanked Eric Silagy and FP&L for the new executive development tool, acknowledged
GrayRobinson as a new board member, and thanked meeting sponsors Foley & Lardner and Florida
Power & Light.
Closing Remarks
Chairman Scott thanked everyone for what they do every day. He then acknowledged and thanked
the entire EFI staff. He presented Governor Ambassador Awards to Alan Becker, Gene Schaefer,
and Andy Corty.
The next meeting of the Enterprise Florida Board of Directors will take place May 9, 2013 in Orlando,
Florida.
The Enterprise Florida Board of Directors meeting adjourned at 11:02 a.m.
Submitted by: Gray Swoope, President & CEO
Enterprise Florida Board Meeting
Consent
Agenda
May 9, 2013
Board members should notify Vice Chair of any item they wish to review before voting on the Consent
Agenda. These items will be pulled from the agenda to be discussed and voted on after the rest of the
consent agenda is approved. Board members are not allowed to vote on their own re-appointment or any
issues for which they have a conflict of interest and those present for the vote will be considered recused
from these votes.
The Executive Committee reviewed the following items and recommends their approval to the
Board:
1.
At-Large Membership renewals: May, 2013 - May, 2014
o
o
o
o
o
o
o
o
o
o
o
o
o
o
Becker & Poliakoff, P.A.
Darden Restaurants, Inc.
Embraer Aircraft Holding, Inc.
Publix Super Markets, Inc.
Regions Bank
SunTrust Bank
TECO Energy
Florida Trend
AT&T
Bacardi, U.S.A., Inc.
Full Sail University
Florida Blue
Lockheed Martin
University of Florida
Alan Becker, Managing Shareholder
Bob McAdam, SVP
Gary Spulak, President
Jeff Chamberlain, VP
Brett Couch, Florida President
Tom Kuntz, Chairman, President & CEO
Gordon Gillette, President
Andy Corty, President & Publisher
Marshall Criser, State President
Rick Wilson, SVP, General Counsel
Bill Heavener, Co-Chairman & CEO
Mike Hightower, VP of Government Relations
Jon Rambeau, VP & GM of Training & Logistics Solutions
Win Phillips, CIO
o
o
New At-Large Board Members:
BMG Money, Inc.
Massey Services, Inc.
Marion Mathes, CEO
Harvey Massey, Chairman & CEO Term to 05/09/2014
o
Member replacements:
TD Bank
Ernie Diaz, Regional President Term to 11/3/2013
o
o
o
o
Ex-Officio Renewals: May, 2013 – May, 2014
Florida Tax Watch
President & CEO, Dominic Calabro
Florida Chamber of Commerce
President & CEO, Mark Wilson
Florida Council of 100
President, Susan Pareigis
FEDC
Chairman, Mike Miedel Term of 6/2013 – 6/2014
2. Interim Financial Report.
3. The executive committee seeks board authorization to review and approve VISITFLORIDA’s
2013/2014 budget and plan.
Board Reference only:
Senate Appointee, Mr. Johnathan Stanton from LEMA Construction. Enterprise Florida Board Meeting | May 9, 2013
Enterprise Florida Financial Report
Quarter Ending March 31, 2013 - Unaudited
The following financial information for the quarter ending March 31, 2013 and 2012, is unaudited, and is derived from internally generated financial
statements. This report is provided to the Board of Directors to assist in its understanding and analysis of EFI’s financial performance and
accountability. These statements have been generated by management and the fairness of their presentation is the responsibility of management.
Statement of Financial Position (Attachment A)
The Statement of Financial Position provides a comparison of the assets, liabilities and net assets of EFI as of March 31, 2013 and 2012, and is
presented in a combined format on Attachment A-1. Attachment A-2 provides the detail of EFI’s Financial Position by category or activity.
Operations are directly related to our agreement with the Florida Department of Economic Opportunity. Administered are funds awarded by
the State to various grantees and administered by EFI. Corporate is investor activity and the use of those funds. Restricted is funding
earmarked for a specific use only for programs such as Base Protection, Florida Defense Support Task Force, Small Business Technology
Growth Fund, State Small Business Credit Initiative, Rural Strategic Marketing, and Technology related programs.
Statement of Activities (Attachment B)
The Statement of Activities provides a comparison of EFI's revenues and expenses compared to the budget approved by the Board.
Information for the prior year is presented for comparative purposes. Information is presented for the quarter ending March 31, 2013 and 2012
on Attachment B-1. Attachment B-2 provides the detail for the nine months, formatted in the same manner as EFI’s Financial Position.
Revenues
Revenues include state funding, investor contributions, program fees, and interest. The revenues are either collected or billed by quarter end.
For the quarter ending March 31, 2013, the third quarter revenue from the state has been recorded and is expected to be received in May. The
numbers include the Florida Sports Foundation and Florida Black Business Investment Boards as they are now fully integrated into EFI’s Sports
Development and Minority Business divisions, respectively. Corporate contributions were budgeted at $1,400,000 for FY 2012/13 as compared
to $1,200,000 for FY 2011/12. Contributions are budgeted on a straight-line basis throughout the fiscal year, with collections varying based on
the anniversary dates of the investors and a higher volume of collections in the third and fourth quarters.
Revenue in total for the nine months in the fiscal year is slightly lower than the budget related to the timing of the collection of the corporate
contributions. Additionally, all other revenue line items are running slightly below budget but are offset with lower expenditures.
Expenses
Year-to-date, EFI has incurred expenses of $12.1 million compared to $12.0 million in 2012 and is under budget year-to-date. Similar to
revenue, expenses also include those related to EFI’s Sports and Minority Business Divisions. Although payroll and related costs have
increased over the past fiscal year, the increase was from filling several key program positions previously left vacant.
Program Expenses and Events, and Advertising & Marketing are also under budget year-to-date, largely due to the timing of these events and
programs. However, commitments and contracts have been made related to these items and it is expected that expenses will be incurred in
line with the respective budgets by year-end.
Additional Schedules
In addition, to assist in the analysis of EFI’s financial performance, included on the last page is a schedule of the administered activity detailing
the category of programs by award year. The first column, the Contract Award, is a memo column indicating the expected total to be awarded.
The next nine columns track the actual flow of funds from the State to EFI, then to the Recipients. The last column total supports the
Administered category of activity included in the detail of EFI’s Financial Position included on Attachment A-2 for March 31, 2013.
For additional information, contact:
Pamela Murphy, Vice President, Finance and Accounting
T 407-956-5644 [email protected]
Financial Report
This page intentionally left blank
Financial Report
Enterprise Florida, Inc.
Financial Statements For the Quarter Ending March 31, 2013
Statement of Financial Position, Unaudited
Attachment A-1
March 31, 2013 & 2012 – Comparative
Attachment A-2
March 31, 2013 & 2012 – Detail
Statement of Activities for the Nine Months Ending, Unaudited
Attachment B-1
March 31, 2013 & 2012 – Comparative
Attachment B-2
March 31, 2013 & 2012 – Detail
Administered Activity by Program as of March 31, 2013
Financial Report
Attachment A-1
($ in Thousands)
March 31
2013
1
2
3
4
5
6
7
Assets
Cash and Cash Equivalents - unrestricted
Cash and Cash Equivalents - restricted
Cash and Cash Equivalents - escrow
Loans Receivable
Accounts Receivable
Other Assets
Total Assets
Liabilities and Net Assets
Accounts Payable and Other Liabilities
9
Deferred Revenue
10
Escrow Payable
11 Total Liabilities
8
$
$
$
Net Assets
Temporarily Restricted
13
Unrestricted
14 Total Net Assets
12
15
Total Liabilities and Net Assets
2012
10,283
14,842
18,963
8,869
4,501
661
58,119
$
1,489
2,465
18,952
22,906
$
$
23,711
11,502
35,213
$
58,119
%
Change
10,714
8,774
42,281
153
3,553
1,256
66,731
$
(431)
6,068
(23,318)
8,716
948
(595)
$ (8,612)
-4.02%
69.16%
-55.15%
100.00%
26.68%
-47.37%
-12.91%
2,363
3,979
42,271
48,613
$
(874)
(1,514)
(23,319)
(25,707)
-36.99% (G)
-38.05% (H)
-55.17% (C)
-52.88%
14,784
2,311
17,095
165.61% (B)
25.14% (I)
94.35%
8,927
9,191
18,118
$
$
Change
66,731
$ (8,612)
(A)
(B)
(C)
(D)
(E)
(F)
-12.91%
(A) Unrestricted funds for operations and administered programs.
(B) Restricted funds were received and recorded as revenue in prior years with funds expended in the current year. New funds were received related to the FL
Defense Support Task Force and State Small Business Credit Support Initiative, accounting for the majority of the increase .
(C) Escrow funds received from the state to be paid to several companies once DEO certifies the contract deliverables are met.
The cash asset is offset by a related liability with the difference being the interest earned and payable to the State of Florida on a quarterly basis.
(D) Loan receivables administed under the State Small Business Credit Support Initiative.
(E) Accounts receivable includes the third quarter appropriation and trade accounts receivable.
(F) Other assets decreased for depreciation expense recorded at 6/30/12.
(G) Accounts payable decreased related to operations and FL Sports grants awarded.
(H) Deferred Revenue is largely composed of funds received from the State of Florida, to be paid for EFI administered grants. The balance fluctuates throughout
the year based on when funds are received from the State, as well as, when payments are made to the grantees.
(I) The increase in unrestricted net assets correlates to the inclusion of the Sports and Minority Business divisions.
(J) State operating funds for Enterprise Florida.
(K)
(L)
(M)
(N)
(O)
(P)
(Q)
(R)
State operating funds for Florida Sports Foundation.
Corporate contributions are budgeted on a straight-line basis with actual collections recorded on a cash basis.
Revenue related to events is higher than the budget and the prior year. These fees directly offset event expenses.
Other revenues from administrative fees, interest, and sponsorships.
Payroll and benefits is comparable to last year but under budget to date.
Operating, general and administrative costs are relatively on track with the budget.
Program expenses and events are on track with budget. Revenues offset event related expenses.
Program expenses related to the FL Sports Foundation and linked to state appropriations.
(S) International offices are relatively on track with prior year-to-date numbers and the budget for the year.
(T) Professional Fees are in line with the budget. The increase over prior year relates to the merger of the Sports and Minority Business divisions.
(U) Advertising & marketing was budgeted at $1 million for both FY 2011/12 and 2012/13 on a straight-line basis, although not fully
(V) The travel budget was increased for FY 2012/13 to meet the needs of the organization.
(W) Temporarily restricted revenue was received and recorded in prior years with payments made in the current year for the Base Protection, Florida International
Business Expansion Initiative, Technology, and Rural Strategic Marketing Programs. Current year new programs related to SSBCI, Defense Task Force, and
Minority Business account for the major increase.
Financial Report
Attachment A-2
($ in Thousands)
March 31, 2013
Operations
16
17
18
19
20
21
22
Assets
Loans Receivable
Accounts Receivable
Other Assets
Total Assets
24
Deferred Revenue
25
Escrow Payable
23
$
$
$
Net Assets
28
Unrestricted
29 Total Net Assets
27
30
6,749
18,963
4,501
661
30,874
1,489
609
18,952
21,050
Administered
$
$
$
9,824
9,824
$
30,874
1,856
1,856
1,856
1,856
Corporate
$
$
$
1,856
1,678
1,678
$
-
Restricted
-
$
14,842
8,869
23,711
$
$
-
1,678
1,678
$
1,678
Total
$
$
$
23,711
23,711
$
23,711
10,283
14,842
18,963
8,869
4,501
661
58,119
1,489
2,465
18,952
22,906
23,711
11,502
35,213
$
58,119
March 31, 2012
Operations
31
32
33
34
35
36
37
Assets
Loans Receivable
Accounts Receivable
Other Assets
Total Assets
39
Deferred Revenue
40
Escrow Payable
38
$
$
$
Net Assets
43
Unrestricted
44 Total Net Assets
42
45
5,167
42,281
3,553
1,256
52,257
2,363
971
42,271
45,605
Administered
$
$
$
6,652
6,652
$
52,257
3,008
3,008
3,008
3,008
Corporate
$
$
$
$
3,008
Restricted
2,539
2,539
-
$
8,774
153
8,927
$
$
-
2,539
2,539
$
2,539
$
$
$
8,927
8,927
$
8,927
Total
10,714
8,774
42,281
153
3,553
1,256
66,731
2,363
3,979
42,271
48,613
8,927
9,191
18,118
$
66,731
Financial Report
Statement of Activities
For the Nine Months Ending, Unaudited
Attachment B-1
($ in Thousands)
March 31, 2013
Actual
Revenues:
State Appropriations - EFI
State Appropriations - FSF
Private Cash Contributions
Registration and Participation Fees
Other Revenues
Total Revenues
46
47
48
49
50
51
Expenses:
Payroll and Related Costs
Operating, General and Administrative
Program Expenses and Events - EFI
Program Expenses and Events - FSF
International Offices
Professional Fees
Advertising & Marketing
Travel
Total Expenses
52
53
54
55
56
57
58
59
60
61
Change in net assets - operations
Change in net assets - temp restricted
Net assets, beginning of period
Net assets, end of period
62
63
64
65
Revenue - Pass Throughs & Grants
Expenses - Grants to Other Organizations
66
67
Revenue - Temporarily Restricted
Expenses -Temporary Restricted
68
$
$
$
Budget
March 31, 2012
Difference
9,975 $
1,466
900
1,216
388
13,945
9,975 $
1,535
1,050
1,294
433
14,287
(69)
(150)
(78)
(45)
(342)
5,876 $
1,900
1,243
718
1,054
541
387
384
12,103
6,693 $
2,171
1,706
1,096
1,056
532
799
390
14,443
(817)
(271)
(463)
(378)
(2)
9
(412)
(6)
(2,338)
1,842
5,834
27,537
35,213 $
(156)
(156) $
1,998
5,834
27,537
35,368
3,608
3,608
-
3,608
3,608
18,272
12,438
-
18,272
12,438
Actual
(J)
8,475 $
1,412
875
927
631
12,320
8,475 $
1,250
900
900
609
12,134
162
(25)
27
22
186
$
5,735 $
1,772
1,256
1,071
1,000
753
120
301
12,008
5,825 $
1,728
962
1,194
1,038
703
782
252
12,484
(90)
44
294
(123)
(38)
50
(662)
49
(476)
311
4,711
13,096
18,118 $
(350)
(350) $
662
4,711
13,096
18,469
3,305
3,305
-
3,305
3,305
7,467
2,756
-
7,467
2,756
(L)
(M)
(N)
(P)
(Q)
(R)
(S)
(T)
(U)
(V)
(W)
$
(T)
(T)
Difference
$
(K)
(O)
Budget
(A) Unrestricted funds for operations and administered programs.
(B) Restricted funds were received and recorded as revenue in prior years with funds expended in the current year. New funds were received related to the FL Defense Support
Task Force and State Small Business Credit Support Initiative, accounting for the majority of the increase .
(C) Escrow funds received from the state to be paid to several companies once DEO certifies the contract deliverables are met.
The cash asset is offset by a related liability with the difference being the interest earned and payable to the State of Florida on a quarterly basis.
(D) Loan receivables administed under the State Small Business Credit Support Initiative.
(E) Accounts receivable includes the third quarter appropriation and trade accounts receivable.
(F) Other assets increased for new fixed assets purchased in FY 2011/12, as well as the new loan programs administered under the Capital programs.
(G) Accounts payable decreased related to operations and FL Sports grants awarded.
(H) Deferred Revenue is largely composed of funds received from the State of Florida, to be paid for EFI administered grants. The balance fluctuates throughout the year based on
when funds are received from the State, as well as, when payments are made to the grantees.
(I)
(J)
(K)
(L)
(M)
(N)
(O)
(P)
(Q)
The increase in unrestricted net assets correlates to the inclusion of the Sports and Minority Business divisions.
State operating funds for Enterprise Florida.
State operating funds for Florida Sports Foundation.
Corporate contributions are budgeted on a straight-line basis with actual collections recorded on a cash basis.
Revenue related to events is higher than the budget and the prior year. These fees directly offset event expenses.
Other revenues from administrative fees, interest, and sponsorships.
Payroll and benefits is comparable to last year but under budget to date.
Operating, general and administrative costs are relatively on track with the budget.
Program expenses and events are on track with budget. Revenues offset event related expenses.
(R) Program expenses related to the FL Sports Foundation and linked to state appropriations.
(S) International offices are relatively on track with prior year-to-date numbers and the budget for the year.
(T) Professional Fees are in line with the budget. The increase over prior year relates to the merger of the Sports and Minority Business divisions.
(U) Advertising & marketing was budgeted at $1 million for both FY 2011/12 and 2012/13 on a straight-line basis, although not fully expended in the current fiscal year.
(V) The travel budget was increased for FY 2012/13 to meet the needs of the organization.
(W) Temporarily restricted revenue was received and recorded in prior years with payments made in the current year for the Base Protection, Florida International Business
Expansion Initiative, Technology, and Rural Strategic Marketing Programs. Current year new programs related to SSBCI, Defense Task Force, and Minority Business account
for the major increase.
Financial Report
Statement of Activities
For the Nine Months Ending, Unaudited
Attachment B-2
($ in Thousands)
March 31, 2013
Operations
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
Revenues:
State Appropriations-EFI
State Appropriations-FSF
Other Revenues
Total Revenues
Expenses:
Program Expenses and Events-EFI
Program Expenses and Events-FSF
Professional Fees
Travel
Total Expenses
Administered
Corporate
Restricted
Total
$
9,975
1,466
1,216
388
13,045
$
-
$
900
900
$
-
$
9,975
1,466
900
1,216
388
13,945
$
5,876
1,238
1,243
718
1,054
541
387
384
11,441
$
-
$
662
662
$
-
$
5,876
1,900
1,243
718
1,054
541
387
384
12,103
$
1,604
8,220
9,824
$
-
$
238
1,440
1,678
$
5,834
17,877
23,711
$
1,842
5,834
27,537
35,213
-
3,608
3,608
-
-
3,608
3,608
-
-
-
18,272
12,438
18,272
12,438
March 31, 2012
Operations
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
Revenues:
State Appropriations-EFI
State Appropriations-FSF
Other Revenues
Total Revenues
Expenses:
Program Expenses and Events-EFI
Program Expenses and Events-FSF
Professional Fees
Travel
Total Expenses
Corporate
Restricted
Total
$
8,475
1,412
927
630
11,444
$
-
$
875
875
$
-
$
8,475
1,412
875
927
631
12,320
$
5,735
592
1,256
1,071
1,000
753
120
301
10,828
$
-
$
1,180
1,180
$
-
$
5,735
1,772
1,256
1,071
1,000
753
120
301
12,008
$
616
6,036
6,652
$
-
$
(305)
2,844
2,539
$
4,711
4,216
8,927
$
311
4,711
13,096
18,118
-
3,305
3,305
-
-
3,305
3,305
-
-
-
7,467
2,756
7,467
2,756
Administered
Financial Report
Detail of Administered Activities by Program
Funds
Received
From
State
Contract
Awarded
Base Protection:
Awarded in 11/12
115
Awarded in 10/11
18,950
117,400
18,950
117,400
18,701
117,400
249
-
Defense Infrastructure:
Awarded in 12/13
Awarded in 11/12
Awarded in 10/11
Awarded in 09/10
Awarded in 08/09
Awarded in 07/08
Awarded in 06/07
Awarded in 05/06
Awarded in 04/05
1,581,245
1,181,245
5,000,000
1,367,325
10,600,000
2,782,000
5,314,500
3,498,165
3,550,000
65,000
605,311
3,626,632
1,385,457
10,600,000
2,113,344
3,635,718
3,203,404
3,020,000
331,692
3,492,634
1,142,844
10,550,000
2,047,414
3,579,706
3,199,713
2,567,380
65,000
273,619
133,998
242,613
50,000
65,930
56,012
3,691
452,620
Defense Reinvestment:
Awarded in 12/13
126
Awarded in 11/12
127
Awarded in 10/11
690,000
850,000
850,000
112,500
850,000
850,000
9,488
593,992
774,809
103,012
256,008
75,191
128
Rural Development:
Awarded in 10/11
587,500
587,500
534,022
53,478
129
Rural Infrastructure:
Awarded in 10/11
1,100,000
958,062
935,924
22,138
130
Interest (payable to the State of Florida)
Received 12/13
-
-
-
2,745
39,069,380
31,730,328
29,877,018
1,856,055
114
116
117
118
119
120
121
122
123
124
125
131 Ending Balance
Funds
Paid To
Recipients
Funds
In
House
3/31/2013
Enterprise Florida Board
Jeff Atwater ***
Florida Department of
Financial Services
The Capitol, Plaza 11
Tallahassee, FL 32399
(850) 413-2850
Lewis Bear ***
The Lewis Bear Co.
72 Highpoint Drive
Gulf Breeze, FL 32561
(850) 434-0580
Alan Becker *
Becker & Poliakoff, P.A.
3111 Stirling Rd.
Ft. Lauderdale, FL 33312
(954) 987-7550
Tony Bennett ***
Florida Department of
Education
325 W. Gaines St. Ste 1514
(850) 245-9615
Mark Bensabat *
JPMorgan Chase & Co.
450 S. Orange Ave. Ste 1000
Orlando, FL 32801
(407) 236-5436
Jay Beyrouti ***
Monicarla, L.T.D.
4707 140th Ave N. Ste 208
Clearwater, FL 33762
(727) 656-8048
Jesse Biter ***
Biter Enterprises, LLC.
1233 N. Gulfstream Ave. PH. 1
Sarasota, FL 34236
(941) 870-3679
Pam Bondi ***
Florida Office of the Attorney
General
The Capitol, PL-01
(850) 245-0140
Park Brady *
The St. Joe Company
133 South WaterSound Pkwy
Watersound, FL 32413
(850) 231-7402
Dominic Calabro **
Florida Tax Watch
106 N. Bronough St.
(850) 222-5052
Jeff Chamberlain *
Publix Super Markets, Inc.
3300 Publix Corporate Parkway
Lakeland, FL 33811
(863) 284-5523
Marti Coley **
Florida House of
Representatives
3094 Indian Circle
Marianna, FL 32446
(850) 209-0069
62 Enterprise Florida Board Members
Updated 5/3/2013
|
37 At-Large Members*
|
6 Ex-Officio**
|
19 Appointed/Statute ***
For Additional Information: Liefke Cox l Director of Investor Relations l 407.956.5688 l [email protected]
Stan Connally *
Gulf Power Company
One Energy Place
Pensacola, FL 32520
(850) 444-6057
Anthony Connelly *
Walt Disney Parks & Resorts,
U.S.
1375 E. BuenaVista Dr. Ste440
Lake Buena Vista, FL 32830
(407) 828-5075
Andy Corty *
Florida Trend
490 First Ave. S. Ste 800
St. Petersburg, FL 33701
(727) 893-8204
Brett Couch *
Regions Bank
100 N. Tampa St. Ste 3100
Tampa, FL 33602
(813) 226-1212
Marshall Criser *
AT&T
150 W. Flagler St. Ste 1901
Miami, FL 33130
(305) 347-5300
Julius Davis ***
VoltAir Consulting Engineers
220 West 7th Avenue, Suite 210
Tampa, FL 33602
(813) 221-9486
Hayden Dempsey ***
Greenberg Traurig
101 E. College Ave.
(850) 222-6891
Nancy Detert **
Florida Senate
417 Commercial Ct. Ste D
Venice, FL 34292
(941) 480-3547
Ken Detzner ***
Florida Department of State
500 S Bronough St., Ste 316
(850) 245-6524
Ernie Diaz *
TD Bank
255 Alhambra Circle 2nd Floor
Coral Gables, FL 33134
(786) 437-2409
Bill Dymond ***
Lowndes, Drosdick, Doster,
Kantor & Reed
215 N. Eola Dr.
Orlando, FL 32801
(407) 418-6423
Sheldon Fox *
Harris Corporation
P.O. Box 37, MS 2-220
Melbourne, FL 32902-0037
(321) 729-7848
Updated 5/3/2013
|
|
6 Ex-Officio**
|
Blake Gable *
Barron Collier Companies
2600 Golden Gate Pkwy
Naples, FL 34105
(239) 403-6857
Danny Gaekwad ***
NDS USA
2100 S.E. 73rd Loop
Ocala, FL 34480
(352) 840-9593
Gordon Gillette *
TECO Energy
702 North Franklin St.
Tampa, FL 33602
(813) 228-4492
Alex Glenn *
Duke Energy
299 1st Ave N.
(727) 820-5587
Howard Halle *
Wells Fargo Bank, N.A.
1 Independent Dr. Ste 2500
Jacksonville, FL 32202
(904) 351-7271
Bill Heavener *
Full Sail University
3300 University Blvd. Ste 218
Winter Park, FL 32792
(407) 571-3900
Mike Hightower *
Florida Blue
4800 Deerwood Campus Pkwy DC3-4
Jacksonville, FL 32246
(904) 905-6268
Kevin Hyman *
Bright House Networks, LLC
301 E. Pine St. Ste 600
Orlando, FL 32801
(407) 210-3151
Dwayne Ingram ***
Workforce Florida, Inc.
17820 Willow Lake Dr.
Odessa, FL 33556
Belinda Keiser ***
Keiser University
1900 W Commercial Blvd. Ste 180
Fort Lauderdale, FL 33309
(954) 776-4476
Beth Kirkland **
Florida Economic
Development Council
3950 Shumard Oak Blvd
(850) 212-1056
Chris Kise ***
Foley & Lardner, LLP
106 E. College Ave. Ste 900
(850) 513-3367
Updated 5/3/2013
|
|
6 Ex-Officio**
|
Tom Kuntz *
SunTrust Bank
200 S. Orange Ave.
Orlando, FL 32801
(407) 237-4458
Fred Leonhardt *
GrayRobinson, P.A.
301 E. Pine St. Ste 1400
Orlando, FL 32801
(407) 244-5655
Harvey Massey *
Massey Services Inc.
315 Groveland St.
Orlando, FL 32804
(407) 571-6204
Marion Mathes *
BMG Money, Inc.
1221 Brickell Ave, Suite 1170
Miami, FL 33131
(305) 851-6134
Bob McAdam *
Darden Restaurants, Inc.
1000 Darden Center Dr.
Orlando, FL 32837
(407) 245-5366
Hal Melton *
FLF, LLC
230 S. New York Ave. Ste 101
Winter Park, FL 32789
(407) 265-1188
Joe Meterchick *
PNC Bank
5422 Bay Center Dr. Ste 100
Tampa, FL 33609
(813) 637-7100
Deborah Millin *
Hewlett Packard
6923 Pine Valley St.
Bradenton, FL 34202
(941) 343-7009
Gilberto Neves *
Odebrecht Construction, Inc.
201 Alhambra Circle Ste 1400
Miami, FL 33134
(305) 704-5859
Susan Pareigis **
Florida Council of 100
102 West Whiting Street, Suite 200
Tampa, FL 33602
(813) 229-1775
Ernesto Perez *
Dade Medical College
95 Merrick Way Suite # 700
(305) 644-1171
Winfred Phillips *
University of Florida
204 Tigert Hall
Gainesville, FL 32611
(352) 392-9122
Updated 5/3/2013
|
|
6 Ex-Officio**
|
Adam Putnam ***
Florida Department of Ag &
Consumer Services
407 S. Calhoun Street
(850) 410-6701
Jon Rambeau *
Lockheed Martin Training and
Logistics Solutions
100 Global Innovation Circle
Orlando, FL 32828
Henry Rodriguez ***
Woodmere Holdings, LLC
1515 Ringling Blvd. Ste 890
Sarasota, FL 34236
(941) 312-5996
Andy Rosen *
Kaplan Higher Education
Corporation
6301 Kaplan University Ave.
(954) 515-3888
Gene Schaefer *
Bank of America, N.A.
701 Brickell Ave.
Miami, FL 33131
(305) 347-2990
Rick Scott ***
State of Florida Governor
400 South Monroe St.
(850) 488-5603
Eric Silagy *
Florida Power & Light Co.
700 Universe Blvd.
Juno Beach, FL 33408
(561) 304-5206
Kelly Smallridge *
Business Development Board
of Palm Beach County
310 Evernia St.
West Palm Beach, FL 33401
(561) 835-1008
Gary Spulak *
Embraer Aircraft Holding, Inc.
276 SW 34th St.
(954) 359-3721
Johnathan Stanton ***
LEMA Construction
10001 16th Street North
(727) 563-0298
Hal Valeche ***
York Street Capital Advisors
128 Vira Dr.
Palm Beach Gardens, FL
33418
(561) 799-0305
Tony Villamil *
Washington Economics Group
2655 Lejeune Rd. Ste 608
(305) 461-3811
Updated 5/3/2013
|
|
6 Ex-Officio**
|
Rick Wilson *
Bacardi U.S.A., Inc.
2701 LeJeune Rd.
(786) 264-8114
Mark Wilson **
Florida Chamber Of
Commerce
136 S. Bronough St.
(850) 521-1200
MISSION
EFI’s mission is to diversify Florida’s economy and
create better-paying jobs for its citizens by supporting,
attracting and helping to create globally competitive
businesses in innovative, high-growth industries.
Updated 5/3/2013
|
|
6 Ex-Officio**
|
2013 ENTERPRISE FLORIDA EVENTS
Date
Event Name
Event Location
Industry
Sector(s)
Type of Event
May 10-12
Sunshine State
Games
Manatee County
Sports
Development
Sports
Florida
Tourism
Board Meeting
Clearwater
Sports
Development
Sports
Event Contact
Stephen
Rodriguez
850-410-5287
Meredith
DaSilva
850-205-3845
Brenda Johnson
850-488-8347
Ivan Barrios
305-808-3390
Selma Fates
305-808-3668
Michael
Schiffhauer
407-956-5634
Rocky
McPherson
850-298-6652
May 16-17,
2013
VISIT FLORIDA
Board of Directors
Meeting
Florida Sports
Summit
May 20-23,
2013
Team Florida
Mission to Chile
Santiago, Chile
Best
Prospects
Investment &
Trade
May 21-24,
2013
HOSPITALAR
2013
Sao Paulo,
Brazil
Life Sciences
Investment &
Trade
TBD
Aviation,
Aerospace &
Defense
Defense
Miami, Florida
Best
Prospects
Investment &
Trade
Ivan Barrios
305-808-3390
May 16-17,
2013
June 2013(TBD)
May 21-24,
2013
Florida Defense
Alliance SemiAnnual Meeting
34th Hemispheric
Congress of Latin
Chambers of
Commerce
June 7-9, 2013
Sunshine State
Games
Alachua County
Sports
Development
Sports
Stephen
Rodriguez
850-410-5287
June 16-22,
2013
Paris Air Show
2013
Paris, France
Aviation,
Aerospace, &
Defense
Investment &
Trade
Ken Cooksey
850-298-6632
June 21-23,
2013
Sunshine State
Games
Polk County
Sports
Development
Sports
Dallas, Texas
Site
Consultant
Business
Development
Destin, Florida
Economic
Development
Board Meeting
Liefke Cox
407-956-5688
New York
Site
Consultant
Business
Development
Sherry Ambrose
407-956-5635
Panamá &
Costa Rica
Best
Prospects
Trade
Development
Juliana Pena
305-808-3388
Miami, Florida
Information
Technology
Trade
Development
Bryant Salter
305-808-3660
Cannes, France
Marine
Industry
Investment &
Trade
Larry Bernaski
904-359-9350
Orlando, Florida
Tourism
Board Meeting
Orlando, Florida
Tourism
Annual industry
conference
July 23-24, 2013
August 7-8,
2013
August 13-14,
2013
September
2013(TDB)
September
2013(TBD)
September 1015, 2013
September 11,
2013
Dallas Consultant
Event
Enterprise Florida
Board &
Stakeholders
Meeting
New York
Consultant Event
Export Sales
Mission to
Panamá & Costa
Rica
AFRICANDO
2013
Cannes
International Boat
Show 2013
VISIT FLORIDA
Board of Directors
Meeting
Florida Governor’s
Conference on
Tourism
Stephen
Rodriguez
850-410-5287
Sherry Ambrose
407-956-5635
Meredith
DaSilva
850-205-3845
Meredith
DaSilva
850-205-3845
2013 ENTERPRISE FLORIDA EVENTS
September 28 –
Oct 2, 2013
Atlanta Consultant
Event
Georgia
IAMC
Utah
October 19-26,
2013
Team Florida
Mission to Japan
& Korea
October 21-23,
2013
CoreNet
October 30-31,
2013
November
2013(TBD)
November
2013(TBD)
Enterprise Florida
Board &
Stakeholders
Meeting
Florida Defense
Alliance SemiAnnual Meeting
Export
Development
Mission to
Senegal & Ghana
Site
Consultant
Site
Consultants
Business
Development
Business
Development
Sherry Ambrose
407-956-5635
Kim Wilmes
407-956-5628
Seoul & Tokyo
Best
Prospects
Trade &
Investment
John Diep
561-832-8339
Las Vegas,
Nevada
Site
Consultants
Business
Development
Kim Wilmes
407-956-5628
Miami, Florida
Economic
Development
Board Meeting
Liefke Cox
407-956-5688
TBD
Aviation,
Aerospace &
Defense
Defense
Rocky
McPherson
850-298-6652
Dakar & Accra
Best
Prospects
Investment &
Trade
Bryant Salter
305-808-3660
John Webb
850-410-5287
Michael
Schiffhauer
407-956-5634
November 4-8,
2013
TEAMS
Salt Lake City,
Utah
Sports
Development
Sports
November 1215, 2013
MEDICA 2013
Düsseldorf,
Germany
Life Sciences
Investment &
Trade
November 1719, 2013
36th Annual
Meeting of the
Southeast
US/Japan &
Japan-US
Southeast
Association
Conference
Biloxi,
Mississippi
Best
Prospects
Trade &
Investment
John Diep
561-832-8339
Dave
Woodward
786-235-8289
November 1721, 2013
Dubai Air Show
2013
Dubai
Aviation,
Aerospace, &
Defense
Investment &
Trade
Ken Cooksey
850-298-6632
November 1920, 2013
Montreal Video
Game Summit
Montreal,
Quebec
Digital Media
Investment &
Trade
Frédérick
Bernard
1-514-448-0544
December 7-15,
2013
Florida
International
Senior Games &
State
Championships
Lee County,
Florida
Sports
Development
Sports
Stephen
Rodriguez
850-410-5287

Enterprise Florida Board Meeting Agenda

Transcripción

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