By Benjamin Petersen and Matthew Laird Revenue collected by Florida’s local governments has grown dramatically in the last few decades, raising the importance that Floridians have an accurate understanding of how our governments raise and spend taxdollars. Revenue collected by local governments from permits, fees, and licenses is of particular importance for Florida’s business and … Continue reading Local Government Revenue Indicates Sluggish Recovery for Florida’s Businesses
Despite Problems, Florida’s Qualified Target Industry Tax Refund is Best Performing Incentive
By Marisa Lupica The Qualified Target Industry (QTI) tax refund is offered to attract high wage jobs in target industries to Florida. The program is administered by the Department of Economic Opportunity, Enterprise Florida, Inc. (EFI), and the Department of Revenue. Among Florida’s tax incentive programs, QTI is the largest and has the highest return … Continue reading Despite Problems, Florida’s Qualified Target Industry Tax Refund is Best Performing Incentive
Tax Increment Financing Has Unclear Effects
By Casey Barr Originally used in California in 1952, TIF is the most widely utilized type of economic development program in the nation, with 49 states and the District of Columbia currently authorize its use. Arizona is the only state that does not allow its use. In 2012, California limited the use of TIF after evidence … Continue reading Tax Increment Financing Has Unclear Effects
Targeted Industry Tax Incentives in Florida
By Marisa Lupica Tax incentives are a significant but ineffective part of states’ economic development policy. As of 2012 states spent an estimated $80.4 billion annually on tax incentives for businesses. Yet, most economic research on the subject finds that targeted tax incentives are ineffective at attracting businesses, creating jobs, or improving a state’s economic … Continue reading Targeted Industry Tax Incentives in Florida
The Per Business Regulatory Burden: Ranking Florida’s Local Governments
By Matt Kelly and Tyler Worthington The dramatic increase in federal government regulation has been well documented by economists and journalists, as has its detrimental effects on economic growth. The DeVoe Moore Center has constructed assorted measures of state and local regulatory restrictiveness. This article focused on revenues collected per business on the local level … Continue reading The Per Business Regulatory Burden: Ranking Florida’s Local Governments
Decision-making in a Community Redevelopment Agency
By Casey Barr As discussed in a previous blog post, Community Redevelopment Agencies (CRAs) are a form of special district government that funds local redevelopment projects with taxpayer subsidies. But how are spending and organizational decisions made in a CRA? (Source: City of Tallahassee. Available at: https://www.talgov.com/cra/CRAHome.aspx) CRAs can only be established when two governmental units, such … Continue reading Decision-making in a Community Redevelopment Agency
Community Redevelopment Agencies
By Casey Barr Local governments face the perennial dilemma of obtaining money to fund community redevelopment projects. Requesting state or federal funds can be an arduous bureaucratic process, and these funds are often awarded to larger, more prominent cities, ignoring smaller towns where need is arguably greater. Community Redevelopment Agencies (CRAs) allow local governments to … Continue reading Community Redevelopment Agencies
Special District Spending Priorities and Political Entrepreneurship
By Matt Kelly and Tyler Worthington Special districts are small local governments created by state statute or local ordinance to fulfill a particular purpose in a specified geographic area. Some special districts control the mosquito population in an area, while others are in charge of things like fire protection, library administration, or utility services. Unlike … Continue reading Special District Spending Priorities and Political Entrepreneurship
Special Districts in Florida
By: Matt Kelly and Tyler Worthington Former Speaker of the U.S. House of Representatives Tip O’Neil once said, “all politics is local,” meaning that politicians must appeal to local constituents to succeed. Yet political economy is arguably most opaque and complex at local levels. Local governments have grown as numerous as they are multifaceted. Over … Continue reading Special Districts in Florida
Microfinancing: Good for the Poor?
By Logan Shewmaker Many businesses start on loans. Traditionally, the loan process works by allowing a business owner or individual to approach a bank, receive the money upfront, and then pay back the amount loaned out over a period of time. Bank loans range anywhere from a few hundred dollars to millions. Eligibility criteria usually … Continue reading Microfinancing: Good for the Poor?