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Front Page » Top Stories » South Florida Economic Development Agencies Continue Work On Pact

South Florida Economic Development Agencies Continue Work On Pact

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Written by on April 11, 2002

By Paola Iuspa
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Economic development agency leaders in each of South Florida’s three counties expect to sign a non-compete agreement within a month.

Frank Nero, president and CEO of the Beacon Council, Miami-Dade’s economic development agency, said signing the agreement among Miami-Dade, Broward and Palm Beach counties would mark the beginning of healthy relations.

The agreement would regulate cross-county competition for businesses.

The pending contract calls for an economic development agency, if approached by a company in another South Florida county, to notify its peer organization within three days. It also requires the agency to confirm the company’s interest in moving outside the region before offering incentives to lure it from its home county.

Officers of the Beacon Council, the Broward Alliance and the Business Development Board of Palm Beach held a teleconference Tuesday afternoon to polish terms of the contract. Although the parties felt confident with the proposed non-compete contract proposed, Mr. Nero said afterwards, some legal language needs to be revised by each group’s attorney.

"Once we get the incentive issue resolved, we are going to be able to work together promoting South Florida and improving South Florida’s infrastructure," he said.

If the economic development agencies agree to the contract, it is likely to need approval from each county’s elected commission. Larry Pelton, president of the Business Development Board in Palm Beach, said the county commissions’ approval would be critical in order to enforce the pact.

Approval was previously delayed by the resignation of Chris Wood as Broward Alliance president, Jean Goodrich, interim alliance president, said last week.

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