Investment company writes Florida incentive laws, then profits from them

Originally published Jan. 8, 2020

On a Thursday afternoon in the middle of last year’s legislative session, Sen. Bill Montford appeared before a Florida Senate committee to present a $25 million plan that supporters said would help rural and hurricane-stricken areas around the state.

Though Montford, D-Tallahassee, never mentioned it by name, one company was orchestrating from behind the scenes: Advantage Capital, a financial firm that has helped persuade state legislatures around the country to pass complex tax incentive programs that it says help struggling communities -- but that critics say enrich firms like Advantage.

Records show Montford’s legislation, which had been dubbed the “Florida Rural Jobs and Business Recovery Act,” was written in part by two principals at Advantage. The talking points for Montford’s presentation were prepared by a lobbyist for Advantage. And an advocate who testified on behalf of the bill -- identifying himself as a member of a group called the “Rural Jobs Coalition” -- was an Advantage employee.

As Montford walked out of the committee room after the vote, an Advantage lobbyist, who had been sitting a few rows back, looked up at Montford and smiled. “Thank you,” he whispered.

Read the rest of the story here.