Governor Crist Promotes Plans to Rev Up Florida’s Economy

{sidebar id=1}Governor Charlie Crist today addressed Jacksonville-area business leaders at the Jacksonville Regional Chamber of Commerce’s Cornerstone Luncheon. The Governor provided details about his recommended economic stimulus package sent last week to Senate President Ken Pruitt and House Speaker Marco Rubio to address.

“While economic forecasters have predicted an even tighter budget year than we had expected, we can trim our state budget without raising taxes,” Governor Crist said. “Equally important, we can take steps to re-fire our economy, especially in the building and construction industry – the area most in need of our support.”

Governor Crist’s recommended economic stimulus package focuses on three important sectors of Florida’s economy:

Housing Industry

Governor Crist has asked the Florida Legislature to appropriate $50 million from trust fund reserves to the Florida Housing Finance Corporation to provide assistance to as many as 3,000 first-time home buyers. Benefits would include $10,000 to assist with making down payments and paying closing costs. The corporation would also offer home financing at one-quarter point lower than the market rate.

Building and Construction Industry

Governor Crist is encouraging the Legislature to appropriate school construction funds for school districts, community colleges and state universities within the next three to six months. Typically, $315 million of available bonding capacity would be appropriated after the next regular legislative session. However, appropriating these funds earlier than usual, as well as $168.25 million in the Public Education Capital Outlay (PECO) trust fund, will stimulate Florida’s building and construction industry.

Transportation Construction Industry

Finally, Governor Crist has directed the Florida Department of Transportation to fast-track road construction and port improvement projects. These projects will infuse $350 million into Florida’s economy. By expediting the Interstate-95 Express Project, commuters in Southeast Florida will have the option of traveling faster by using the additional toll lanes. Governor Crist also directed the department to work with the Florida Seaport Transportation and Economic Development Council to accelerate 10 projects to improve Florida’s deepwater ports. A study by the Florida Department of Transportation indicates that every dollar invested in ports yields $6.90 to the state’s economy. Governor Crist has further directed the department to pursue innovative partnerships and private investments to meet future transportation needs.

For more information about Governor Crist’s initiatives, please visit www.flgov.com .

This information originally published on September 14, 2007.

Written by :