TALLAHASSEE, Fla – FloridaCommerce has expressed support for Governor Ron DeSantis’ strategic investments aimed at fostering economic growth and development in the Fiscal Year 2024-25 Focus on Florida’s Future Budget. Under Governor DeSantis’ leadership, Florida has achieved significant milestones over the past five years, including being named the nation’s top economy and ranking first in higher education, talent development, net in-migration, and entrepreneurship. The state now boasts the 14th largest global economy with more businesses formed since 2019 than any other state.
“Under Governor DeSantis’ decisive leadership, Florida remains the fastest growing state in the nation thanks to freedom-first policies and strategic investments that create opportunities for Florida’s families to thrive,” said Florida Secretary of Commerce J. Alex Kelly. “The Focus on Florida’s Future Budget builds on Florida’s strategic investments in workforce and site readiness to further ensure that businesses looking to come to Florida or people looking to upskill in their professions have the opportunities available for them do just that.”
Governor DeSantis’ budget includes several key investments:
– $396 million for the Community Development Block Grant—Disaster Recovery (CDBG-DR) program to address long-term needs related to Hurricanes Irma, Michael, Sally, and Ian.
– $100 million to launch the Broadband Equity, Access, and Deployment (BEAD) Program.
– $186.5 million for the Low-Income Home Energy Assistance Program (LIHEAP).
– $75 million for Florida’s Job Growth Grant Fund (JGGF).
– $100 million for the Florida Hometown Heroes Housing Program.
– $234 million for affordable housing programs including SAIL, Homeownership Assistance Program, Predevelopment Loan Program, and Catalyst Program; and $174 million for SHIP.
– $17 million for the Law Enforcement Recruitment Bonus Program.
– $175.2 million for small business loans and early-stage venture capital support through SSBCI.
– $20 million for the Local Government Revolving Emergency Bridge Loan Program.
– $3 million for Military Base Protection.
– $2 million for the Defense Support Task Force.
– $7 million for Defense Infrastructure Grants.
– $6.7 million for Florida Sports Foundation grants.
– $10.1 million for CareerSource Florida workforce training grants.
Additional funding highlights include:
– Over $3 million for the Community Services Block Grant Program targeting unmet needs within counties impacted by Hurricane Ian.
– $16.4 million for Reemployment Assistance Claimant Service Enhancements.
– $6 million for Space Florida financing and an additional $17.5 million to support spaceport operations.
– $24 million allocated towards Economic Development Tools.
