Florida would take a devastating economic hit if Senate President Joe Negron’s SB 10 becomes law, reveals an eye-opening study released Thursday by the James Madison Institute.
By JMI’s calculations, Florida is looking at an annual loss of more than a half billion dollars.
“This study looks beyond the 2.4 billion taxpayer dollars that would be spent and examines the additional cost to Florida families in terms of lost jobs, lower household income and an eroded business climate,” said J. Robert McClure, president and CEO of the Tallahassee-based think tank.
J. Antonio Villamil, founder and principal of the Washington Economics Group and senior fellow at JMI, said in the report that Palm Beach and Hendry counties will take the brunt of the blow when 60,000 acres of Everglades Agricultural Area is taken out of production and off the tax rolls.
In “Sticker Shock: Examining the Economic Impacts of Land Acquisition in the EAA,” Villamil claims the overall negative economic impact of the proposed land displacement on Florida — not counting the cost of purchasing the land and constructing the reservoir — totals $695 million.
This is an annually recurring number — $695 million every year.
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