The Biden-Harris Administration’s Investing in America Agenda: Delivering for Florida

Companies have committed to invest over $800 million in Florida since President Biden took office.

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For decades, the U.S. exported jobs and imported products, while other countries surpassed us in critical sectors like infrastructure, clean energy, semiconductors, and biotechnology. Thanks to President Biden’s Investing in America Agenda – including historic legislation signed into law by President Biden such as the American Rescue Plan, Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act – that is changing. Since the President took office in 2021, companies have committed over $800 million in private sector investments across Florida. These investments are creating good-paying jobs, including union jobs and jobs that don’t require a four-year degree in industries that will boost U.S. competitiveness, rebuild infrastructure, strengthen supply chains, and help build a clean energy economy.

 

Unleashing Private Investment in Florida:

Thanks to the President’s Investing in America agenda, Florida’s economy is now a more attractive place for companies around the world to invest and expand, helping drive U.S. competitiveness and build a clean energy economy. For example, in Florida:

• Cenntro Automotive is investing $25 million to build its first American electric vehicle manufacturing facility in Jacksonville.

Rebuilding Florida’s Infrastructure:

Thanks to President Biden’s economic plan, about $8.2 billion in federal funding has already been announced for 213 infrastructure projects across Florida. That includes $6.3 billion in federal investments to fund transportation projects – roads, bridges, and roadway safety – and over $363 million for better access to clean water. For example:

• The Everglades received $1.1 billion for ecosystem restoration activities, making it the single largest investment in the Everglades' history. The project will reconnect the Northern Everglades with the southern and central habitats.

• The Orlando International Airport received $119 million for terminal expansion projects to increase capacity and improve accessibility.

 

• The Manatee County Port Authority was awarded $11.9 million to expand capacity at the container yard and modernize infrastructure, reducing supply chain bottlenecks along Florida's gulf coast.

• Florida was awarded $15 million to build a new truck parking facility along I-4 in West Florida with about 120 spaces, electric charging stations, and pedestrian infrastructure to access nearby amenities. By providing reliable truck parking capacity, the project improves safety for tired drivers and makes supply chain movement more efficient.
   

Getting Florida Back to Work and Supporting Florida’s Small Businesses:

At the start of 2021, the Florida unemployment rate was 5.9% and many small businesses had closed. Today, Florida's unemployment rate has dropped to 2.6% with 1,000,000 jobs created since the President took office. Meanwhile, the number of new Florida business filings have hit new records, with 1.2 million new business applications filed over 2021 and 2022. Emergency relief from the Biden-Harris Administration during the pandemic helped to keep open 5,715 restaurants and bars and 8,610 child care programs across Florida, and is providing up to $488 million in funding to make new loans and investments in its small businesses through the State Small Business Credit Initiative.

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Creating Clean-Energy Jobs and Combatting the Climate Crisis:

President Biden’s Investing in America agenda is delivering a clean, secure, and healthy future for Florida families by:

• Expanding electric vehicle opportunities, with millions of people in Florida eligible for discounts on new or used EVs through the Inflation Reduction Act, which will be supported by networks of EV chargers across the state funded by the Bipartisan Infrastructure Law.

• Protecting Florida against extreme weather, with historic investments for more resilient homes, businesses, and communities. In the last decade, Florida has experienced 10 major extreme weather events, costing the state up to $227 billion in damages and often disproportionately affecting historically underserved communities. Now, the state has used American Rescue Plan funds for its largest ever investment in resiliency ($700 million) – including over 185 grants for resiliency from floods and storms.

• Supporting rural communities, by investing in climate-smart agriculture practices to help Florida's 47,500 farmers lead on climate solutions, and helping electric cooperatives that deliver cleaner and cheaper power to 1.2 million Florida homes and businesses.
   

Lowering Costs for Florida Families:

Thanks to legislation in President Biden’s Investing in America agenda, Florida residents are saving money on their health care premiums and prescription drugs, high-speed internet, and home energy costs. In fact:

• Over 4,388,000 Florida residents with Medicare will benefit from the $2,000 yearly cap on out-of-pocket prescription drug costs, a $35 monthly cap per insulin prescription, and free vaccines.

• 3,225,000 individuals in Florida signed up for health insurance through the ACA Marketplaces during the Open Enrollment Period for 2023 and will benefit from up to thousands of dollars per year in savings from lower health care premiums.

• The average new homeowner in Florida will save $225 annually -- or 11.7% on their utility bills -- if state and local governments use new grants to adopt the latest building energy codes.

• Florida residents will be eligible to get 30% off solar panels, battery storage systems, heating and cooling upgrades, and weatherization, which can help them save hundreds of dollars every year on their energy bills. An estimated 1.1 million additional Florida households will install rooftop solar panels as a result of these new tax credits.

• Over 1.1 million Florida households are able to access affordable high-speed internet through the Affordable Connectivity Program investments made as part of the President’s Investing in America agenda.

 

Extreme MAGA Republicans in Congress have proposed legislation to ship manufacturing jobs overseas, as well as increase health care costs, energy costs, and prescription drug prices for working families. President Biden and Congressional Democrats believe we need to finish the job, and continue to build the economy from the bottom up and middle out, not top down.