Economic development agencies are notorious for helping politically-connected businesses profit. In Florida though, this favoritism extends beyond business. Matt Galka of WJXT Jacksonville writes about how life has been good for the executives at the Enterprise Florida economic development agency.
Over the last six years, executive salaries at Enterprise Florida have risen from $800,500 to $1.4 million, an almost 75 percent increase.
However, it appears this taxpayer-funded largesse is coming to an end. Earlier this year Florida’s legislature denied $250 million to Enterprise Florida, instead giving it less than $24 million.
Galka notes that, with a declining budget, “Enterprise Florida’s board voted last week to lay off 12 people and eliminate another 12 positions in a cost cutting measure. The agency said it needs to cut $6 million … and will also be closing four international offices in an effort to save money.”