FloridaCommerce has expressed approval of the Fiscal Year 2025-26 Budget, acknowledging Governor Ron DeSantis for his leadership. The budget emphasizes growth in rural development and infrastructure readiness while maintaining fiscal conservatism.
Florida’s economy is valued at $1.7 trillion and is ranked as the top state economy in the United States for two consecutive years. The state also leads in economic growth and new business formation, along with being second in overall education.
“Florida’s consistent economic strength—anchored by a $1.7 trillion economy and our top national rankings in economic growth, new business formation and higher education—is a direct result of Governor DeSantis’ unwavering commitment to fiscal responsibility and pro-growth policy,” said Florida Secretary of Commerce J. Alex Kelly. “This year’s budget strikes a smart balance between strategic investments and maintaining healthy reserves.”
The budget features several key investments, including:
– $22 million allocated to the Rural Infrastructure Fund Grant Program to support job creation and economic diversification in rural communities.
– $50 million directed to Florida’s Job Growth Grand Fund to stimulate economic growth through public infrastructure investment.
– $1.9 million dedicated to implementing SecureFlorida for combating illegal immigration.
– $20 million set aside for the Law Enforcement Recruitment Bonus Program.
– Support for military families through a $2 million investment in the Florida Defense Support Commission.
– Housing assistance programs with allocations such as $50 million for the Florida Hometown Heroes Housing Program, $163.8 million for the State Housing Initiatives Partnership (SHIP) Program, and $71.2 million for affordable housing programs like SAIL.
– Disaster recovery funding with $150 million earmarked for Community Development Block Grant—Disaster Recovery programs.
The full repeal of the business rent tax is projected to save small businesses over $1.5 billion, particularly benefiting rural entrepreneurs.
