Rural Infrastructure Fund Program (RIFP)

How does this affect Florida businesses?

The Rural Infrastructure Fund Program (RIFP) supports economic growth in rural areas by providing financial assistance to improve infrastructure, such as transportation, water, and broadband services. Florida governments use the RIFP as an economic incentive to attract businesses to rural areas, thus creating new jobs and stimulating local economies.

The potential effect on Florida-based businesses is significant. They can leverage the improved infrastructure to expand operations, reach new markets, and tap into a more extensive pool of skilled labor. As a result, companies eligible for RIFP support may experience lower infrastructure costs, increased access to essential services, and overall better business conditions, contributing to their growth and success in rural areas.

Need help regarding economic development incentives? Schedule your consultation today with a top economic development attorney.

Which Florida laws and regulations apply to the RIFP?

Florida Statute § 288.0655 establishes the RIFP and outlines its purpose, criteria, and administration. The Florida Department of Economic Opportunity (DEO) reviews and approves applications, allocates funds, and monitors project progress. Eligible applicants include local governments, economic development organizations, and public-private partnerships in rural areas of Florida.

Which Florida businesses qualify?

• Located in a rural area: The business must be in a designated rural area of Florida or a designated Rural Area of Opportunity.
• Partnership with local governments, economic development organizations, or public-private partnerships: The business must collaborate with one of these entities in applying for RIFP funding.
• Project alignment with RIFP objectives: The business’s project must support infrastructure improvements, such as transportation, water, and broadband services, and contribute to the economic development of the rural area.

When a set of facts is appropriate to meet the requirements of the RIFP, there are many paths a claimant may take. We are value-based attorneys at Jimerson Birr, which means we look at each action with our clients from the point of view of costs and benefits while reducing liability. Then, based on our client’s objectives, we chart a path to seek appropriate remedies.

To determine whether your unique situation may necessitate litigation, please contact our office to set up your initial consultation.

What are the strategic benefits for qualifying Florida businesses?

• Improved infrastructure: Access to better transportation, water, and broadband services can enhance business operations and enable businesses to reach new markets more efficiently.
• Lower infrastructure costs: Financial assistance from the RIFP can help offset the costs of developing or upgrading infrastructure, making it more affordable for businesses to expand or relocate to rural areas.
• Increased access to skilled labor: Improvements in local infrastructure can attract skilled workers to rural areas, offering businesses a more extensive pool of talent to draw from.
• Competitive advantage: Companies that leverage RIFP funding can gain a competitive edge in their industry by taking advantage of the improved business conditions in rural areas.
• Contribution to local growth: By participating in the RIFP, businesses can contribute to the economic development of rural communities, which can generate goodwill and strengthen relationships with local stakeholders.

Please contact our office to set up your initial consultation to see what actions or defenses may be available for your unique situation.

Have more questions about an economic development-related situation?

Crucially, this overview of the RIFP does not begin to cover all the laws implicated by this issue or the factors that may compel the application of such laws. Every case is unique, and the laws can produce different outcomes depending on the individual circumstances.

Jimerson Birr attorneys guide our clients to help make informed decisions while ensuring their rights are respected and protected. Our lawyers are highly trained and experienced in the nuances of the law, so they can accurately interpret statutes and case law and holistically prepare individuals or companies for their legal endeavors. Through this intense personal investment and advocacy, our lawyers will help resolve the issue’s complicated legal problems efficiently and effectively.

Having a Jimerson Birr attorney on your side means securing a team of seasoned, multi-dimensional, cross-functional legal professionals. Whether it is a transaction, an operational issue, a regulatory challenge, or a contested legal predicament that may require court intervention, we remain tireless advocates at every step. Being a value-added law firm means putting the client at the forefront of everything we do. We use our experience to help our clients navigate even the most complex problems and come out the other side triumphant.

If you want to understand your case, the merits of your claim or defense, potential monetary awards, or the amount of exposure you face, you should speak with a qualified Jimerson Birr lawyer. Our experienced team of attorneys is here to help. Call Jimerson Birr at (904) 389-0050 or use the contact form to schedule a consultation.