Florida Brownfields Program Brings $388 Million in Capital Investment in 2012

This week, the Florida Department of Environmental Protection released its Florida Brownfields Redevelopment Program Annual Report for fiscal year 2011-12, which highlights job creation efforts and projects new capital investment of $388 million to date in 2012.

The Florida Brownfields Program facilitates redevelopment and job creation by empowering communities, local governments and other stakeholders to work together to assess, clean up and reuse sites that have been previously impacted by pollutants. The annual report is submitted to the Governor, Florida Senate President and Florida Speaker of the House of Representatives.

Brownfields are properties where expansion, redevelopment or reuse may be complicated by the presence or potential presence of environmental pollution. Established in 1997, the Florida Brownfields Redevelopment Program utilizes economic and regulatory incentives to encourage the use of private revenue to restore and redevelop sites, create new jobs and boost the local economy. To make the program’s incentives available to a community, a local government must designate a brownfields area by resolution. Local governments have designated 312 current brownfield areas statewide.

The annual report identifies the accomplishments of the program and benefits to Florida in the last fiscal year:

-From July 2011 through July 2012, seven brownfield sites completed cleanup, bringing the total to 54 sites statewide since the program began in 1997.

-The Department received 42 Voluntary Cleanup Tax Credit applications, approving tax credits totaling more than $5.1 million for site rehabilitation work completed in fiscal year 2011.

-In calendar year 2011, the program facilitated a 3,436 projected new direct jobs, 4,648 new indirect jobs and more than $208 million in new capital investment.

-To date in 2012, 3,542 new direct jobs, 6,788 new indirect jobs and $388 million in new capital investment are attributable to the program.

To see a copy of the full annual report, visit http://www.dep.state.fl.us/waste/categories/brownfields/pages/annual.htm

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