GrowFL was created in 2009 by the Florida legislature as an economic development program focused on assisting second-stage growth companies prosper in the state of Florida. By providing strategies, resources and support to second-stage companies for next level growth through Strategic Research, Peer Learning and Leadership Development, GrowFL helps companies overcome obstacles to growth and leads them towards prosperity. Based on the philosophy of Economic Gardening®—to grow existing businesses in a community, region or state—GrowFL, the Florida Economic Gardening Institute, is a critical component to the state’s economic development strategy and Florida’s entrepreneurial ecosystem. GrowFL is a statewide economic development organization certified by the National Center for Economic Gardening through the Edward Lowe Foundation.
As of June 30, 2014, GrowFL assisted companies represent over 14,000 direct jobs across the state of Florida. In 2014, these companies had an estimated sales output of over $1 billion and contributed over $2 billion to the Florida economy. For fiscal years 2013 and 2014, a variety of state, local and private sector funding sources invested $2.89 million in the GrowFL program. The activities of this program over the same time period helped generate an estimated 3,545 net new direct, indirect and induced jobs, which in turn contributed over $547 million to Florida’s economy and generated an additional $18.34 million in total state and local tax revenues (above and beyond the cost of the program). This translates into a net Return On Investment of $6.74 for every $1.00 invested into the program.
*All dollar amounts have been adjusted to 2015 dollars.
Today, GrowFL has assisted more than 800 companies through our Strategic Research and CEO Roundtable programs and recognized 200 successful entrepreneurs through our annual awards program, Florida Companies to Watch.