Florida ED Mega-Fund In Doubt Now

Florida Gov. Jeb Bush has made some aggressive ED proposals to the state legislature in recent months. His proposal to spend millions to lure a Scripps biotech institute to Florida appears headed for passage, while another plan to give him control of $190 million to close other big economic development deals was in doubt Wednesday.

Bush envisions the creation of a "megafund" to lure major corporations to Florida. He would tap the account quickly, without having to call lawmakers back for a special session to change the state budget. The governor says he needs control of such an account because there's often a short window when competing for major corporate moves. But the Senate budget committee has other plans for much of the federal economic stimulus money Bush would put in the account. It voted Wednesday to spend some of it on a variety of other projects.

Go here to read more.