The LIBRE Initiative Praises Progress to Limit Corporate Welfare
Washington, D.C. – Today, the Florida House of Representatives voted to advance legislation (H.B. 7005) that will significantly cut funding to a number of major corporate welfare programs – including Visit Florida – and eliminate Enterprise Florida.
Cesar Grajales, Florida Coalitions Director for The LIBRE Initiative, released the following statement:
“The Florida House’s progress to reduce corporate welfare is an important step toward ensuring transparency, fairness, and responsible spending with the hard-earned money of Florida taxpayers – many of whom are Hispanic families and entrepreneurs. This legislation will help the Hispanic small business community, since many small business owners suffer when corporate welfare is handed to a few large and well-connected companies. We applaud this effort and continue to advocate for its advancement.”
According to a study by Good Jobs First, which examined similar spending in three states, Florida spends a large majority of these incentives on large companies instead of small businesses. After 20 years of operation, Enterprise Florida has negotiated over 1,600 contracts worth more than $1.7 billion, creating only half the number of jobs it originally promised to provide.