Bush says Florida fine investment

TALLAHASSEE -- In this town, talk of the state's finances is dour: a looming budget crisis worsened by expensive, voter-approved caps on classroom size.

But when viewed from New York City's financial skyscrapers, Gov. Jeb Bush hopes, Florida's business-friendly climate and tax structure make it fertile ground for investors. So Bush pitched the state's appeal Wednesday in a fast-moving tour of Manhattan.

"It was a great trip," Bush said en route to the airport for his return to Florida.

The governor met with venture capitalists and bond rating agencies, plus representatives from Citigroup, J.P. Morgan Chase, Morgan Stanley and Toyota. He even pitched Florida to the editorial board of the Wall Street Journal.

The tour is part pre-emptive strike to assure investors that Florida's state finances are in far better shape than other big states like California and New York, and part fulfillment of a Bush priority for his second term: broaden the state's economy.

"One of the governor's key priorities is diversifying Florida's economy," said Kim Prunty, a spokeswoman for Enterprise Florida, the public/private partnership that helps develop the state's economy. It coordinated Bush's New York trip.

Bush said he also spent some time during the trip talking about a confidential economic development project possibly in the works for the state. He insisted even he didn't know details of the proposal.

Although other states suffering budget woes have seen their credit ratings drop, including New Jersey and Wisconsin, Florida isn't in any such danger, Bush said.

"We made a compelling case that if you overtax you create more problems," Bush said.

And although Toyota doesn't have any specific plans for the state, Bush said he wanted the company to keep Florida in mind the next time plans for a new plant are on the drawing board.

"This will yield benefits," Bush said.

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