RD92 - Quarterly Report of the Governor's Opportunity Fund, 2nd Quarter FY 2008


Executive Summary:
As of December 31, 2007, a total of $169,170,174 had been appropriated to the Fund. This amount excludes legislative mandates and monies which were unallotted after the original allocation. As of December 31, 2007, the cash balance was $29,169,751, and the balance available for future commitments totaled $10,617,251. However, when the GOF preapprovals made by the Secretary of Commerce and Trade are taken into account, the available balance is reduced to $1,942,251. Grants awarded since the inception of the fund total 390.

For the second quarter of the 2008 fiscal year, ended December 31, 2007, a total of $7,825,000 was committed from the Opportunity Fund to assist seven projects relocating to or expanding in the state. Total job creation of these projects was 705, while investment totaled $344 million.