Florida to Hold $50 Million in Israel Bonds in 2018
Chief Financial Officer (CFO) Jimmy Patronis announced today an increase in Florida’s investment in Israel Bonds by $10 million in 2018, increasing the state’s holdings to an unprecedented $50 million. The decision comes after discussions with Israel’s Finance Minister, Moshe Kahlon, and representatives, including the president, from Israel Bonds. Florida is the third largest U.S. state investor in the State of Israel.
“During a time when our nation is criticized and attacked for moving our embassy to Jerusalem, it’s incredibly important to signal to the world that we stand firmly with the State of Israel,” said CFO Jimmy Patronis. “Israel’s economy has seen significant growth over the years including expanded development in the high-tech industry. Increasing our investment in Israel by $10 million this year not only provides a good return on investment, but strengthens our relationship. The interests of Israel will always be the interests of the United States, and this unprecedented investment further cements us as friends, allies, and economic partners.”
“With a commitment to innovation and cutting edge technology, the State of Israel’s economy is vibrant and growing,” said Moshe Kahlon, Finance Minister of Israel. “Investment in Israel Bonds is an investment in Israel. It tells to the world that Florida and Israel are not only friends, but have shared economic interests. I’m grateful for CFO Jimmy Patronis’ leadership and commitment to the relationship forged between our great nations.”
“Israel Bonds is thrilled to deepen our partnership with the State of Florida,” said Israel Maimon, President of Israel Bonds. “We are proud to work with CFO Jimmy Patronis to increase Florida’s investment. Investing in Israel Bonds supports Israel’s economy, helping to keep it strong and resilient.’’
The State of Florida, through the Department of Financial Services (DFS) Division of Treasury, currently holds $40 million in Israel Bonds.