FloridaCommerce has announced that the State Board of Administration (SBA) will invest an additional $300 million in Florida businesses through the Florida Growth Fund. This new allocation brings the total capital directed to Florida companies via the fund to $1.5 billion.
“Under Governor DeSantis’ leadership, Florida continues to prioritize investment in business and economic growth,” said Secretary of Commerce J. Alex Kelly. “To date, capital committed through the Florida Growth Fund has supported 90 direct investments in Florida businesses and created over 38,000 jobs—this additional investment will only accelerate that momentum particularly with high-tech startups and entrepreneurs.”
Chris Spencer, Executive Director of the SBA, commented on the role of these investments: “The State Board of Administration is proud to support Florida businesses and grow Florida jobs through the Florida Growth Fund,” he said. “Florida’s economy is among the fastest growing in the nation, and it provides attractive opportunities for great investment returns to support our mission of providing financial certainty to our public sector retirees.”
The Florida Growth Fund operates as an investment mandate under section 215.47(7) of the Florida Statutes.
