RD34 - Quarterly Report on the Governor's Development Opportunity Fund


Executive Summary:
As of December 31, 2006, a total of $167,593,578 had been appropriated to the Fund. This amount excludes legislative mandates and monies which were unallotted after the original allocation. As of December 31, 2006, the cash balance was $34,413,155, and the balance available for future commitments totaled $19,655,655. However, when the GOF preapprovals made by the Secretary of Commerce and Trade are taken into account, the available balance is reduced to $15,595,655. Grants awarded since the inception of the fund total 369.

For the second quarter of the 2007 fiscal year, ended December 31, 2006, a total of $4,195,000 was committed from the Opportunity Fund to assist seven projects relocating to or expanding in the state. Total job creation of these projects was 1,175, while investment totaled $455.6 million.