TALLAHASSEE, Fla. – Today, Governor Rick Scott announced that the State of Florida has recovered more than $13.5 million of taxpayer money from Sanford Burnham and Palm Coast Data, LLC after these companies failed to meet the requirements of incentive agreements signed during previous gubernatorial administrations in 2006 and 2008. Under the leadership of Governor Scott, the Florida Department of Economic Opportunity (DEO) has reformed the incentive process since 2011, requiring companies to meet strict performance metrics, including total jobs and capital investment, before receiving any payments. This highly accountable process works to recruit businesses to Florida, while at the same time protecting taxpayers’ hard-earned money.
Governor Scott said, “Florida is competing in a global economy, and we work every day to attract job creators and new opportunities to our state. A top priority is protecting taxpayer dollars, which is why I directed DEO to completely reform the incentive process seven years ago to make sure that no taxpayer money is given to companies that fail to create the jobs and capital investment they promised. The recovery of more than $13.5 million from Sanford Burnham and Palm Coast Data, which were signed under previous gubernatorial administrations, is good news, and we will continue to do all we can to attract successful job creators to our state while making sure that every single taxpayer dollar is spent responsibly.”
DEO has reached an agreement with Sanford Burnham, whose agreement was originally signed in 2006, to return $12.3 million of state dollars prior to winding down its Florida operations, and an agreement with Palm Coast Data, whose agreement was originally signed in 2008, to return nearly $1.2 million of state dollars. DEO will continue to actively pursue the return of all taxpayers’ funds from companies that fail to meet the commitments of previous incentive contracts.
Cissy Proctor, Executive Director of DEO, said, “DEO is committed to ensuring that all state taxpayer money is spent efficiently to grow our economy. Recovering this money shows that we will hold companies accountable who receive incentives.”