Florida has one of the most successful track records for creating and paying subsidies to businesses that create jobs. Quite a few media sources are quick to spread the word on how much of a thriving entrepreneurial hotbed Florida metro areas are right now. But, how are we really to know and at what cost? Good Jobs First released a statement that suggests there need to be more answers.
Prior officials in the Governor’s seat has provided statements and reports touting not only the success of their programs, but also essential insight into the hard data. Like the actual number of applicants, companies involved and the cost for each type of incentive they took part of. Seeing these numbers can help people visualize the success, if any, in the program but also determine if the state is getting shammed and the tax payers fleeced. Not only is Florida a wealth of small business subsidies, large corporation tax incentives and low to no cost loans, it also has a less than perfect track record of verifying if businesses are qualified to receive those subsidies. Thanks to almost zero transparency into the programs, low restrictions, no verification and desperate spending to improve the economy, the state may have created a large grey area of, not only possible, but probable abuse, corruption and irresponsibility.
The state may not even be staffed to handle the work it takes to verify the obligations for every company that has taken advantage of it’s programs or willing to spend the money for additional independent verification agencies. This is without even touching the fact that there are companies that simply did not deliver on any of its promises to complete construction or projects let alone create jobs. Who knows how many companies should be penalized, publicly outed or criminally punished. But, without openness from the state, there is little to do at this point but theorize.
