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Quick Action Closing Fund
A cash fund that helps the governor's Office of Tourism, Trade and Economic Development close deals from "extraordinary economic opportunities'' with companies that say they are being wooed by other states. Since 1999, the state has approved 12 grants. The governor's office said one is confidential and three approvals were "vacated'' when the companies elected not to sign agreements. In another case, the governor's office said, the company "modified business plans'' and returned the money "before additional performance requirements and sanctions would have applied.'' As of February 2005, the state had disbursed about $4.4-million.
Applicant Approval Date County Award New Jobs Projected Capital Investment Projected Total Payments Status
Citicorp Credit Services, Inc. 6/28/02 Duval $500,000 500 $92,000,000 $0 Vacated
The Coca-Cola Company 6/25/02 Polk $100,000 300 $120,000,000 $100,000 Active
The Depository Trust & Clearing Corporation 8/10/04 Hillsborough $4,400,000 500 $34,000,000 $2,200,000 Active
Embraer Engineering Services, Inc. 8/16/00 Palm Beach $500,000 100 $1,000,000 $500,000 Active
GE Generators (Pensacola), LLC 8/20/01 Escambia $375,000 150 $33,000,000 $0 Inactive
GE Harris Energy Control Systems 8/8/00 Brevard $400,000 339 $11,000,000 $0 Vacated
Knight, LLC 4/26/02 Brevard $125,000 450 $20,000,000 $0 Vacated
Nielsen Media Research 4/26/02 Pinellas $250,000 600 $80,000,000 $250,000 Active
Pratt & Whitney 2/1/00 Palm Beach $1,000,000 1300 $75,000,000 $1,000,000 Active
Sikorsky Aircraft Corporation 6/16/00 Palm Beach $400,000 200 $15,300,000 $400,000 Active
Confidential 2/28/05 Dade Confidential Confidential Confidential $0 Active
Totals: --- --- $8,050,000 4,439 $646,300,000 $4,450,000 ---

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