PREVIEW OF REP. SOTO’s STATE BUDGET DEBATE
TALLAHASSEE, Fla. – Florida is the fourth most populous state in the nation but is ranked 11th in regard to the number of Fortune 500 companies. The three most populous states are: California (which has 57 Fortune 500 companies—ranking 1st in the nation), Texas (home to 57 Fortune 500 firms, tied for 1st) and New York (with 56 companies), according to Fortune Magazine and CNN.com
Fortune Magazine reports that Florida hosts 16 Fortune 500 companies, ranking it 11th in the nation.
Representative Darren Soto (D-Orlando) says the shortfall in top corporate performers in Florida is due to Florida’s failure to invest in its universities, workforce training, transportation and public works projects. “Florida’s inadequate share of Fortune 500 companies proves that our state needs to make the investments that will attract top corporations to our state,” said Representative Soto. “These findings contradict the jobs mantra touted by Governor Rick Scott and the Republican Legislature in the 2011 budget that less regulation and lower taxes are the key to our prosperity.”
On Thursday, Representative Darren Soto will detail in House floor debate on the state budget the monumental failure of what he calls “this fire-sale/bribery approach of hacking long-term education and infrastructure investment to cobble economic incentives together which are failing to attract and maintain businesses in Florida.”
The following is a link to the news research on the topic: http://money.cnn.com/magazines/fortune/fortune500/2010/states/CA.html
The House is scheduled to be in session from noon to 7 p.m. Thursday to debate the state budget and other matters.
CONTACT: Christine Aleknavich