Florida’s first program that provides incentive rebates for retrofitting fleet vehicles for natural gas fuel has been a success in only six months.
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Tallahassee, FL – The state’s first program to provide incentive rebates for retrofitting fleet vehicles for natural gas fuel has been a success in only six months.
A report released today shows the economic impact of this program, championed by Commissioner of Agriculture Adam H. Putnam, is estimated at $128 million. In addition, 382 high-paying jobs were created or retained as a result of the program.
“I appreciate the Legislature working with me to create a program to help businesses and local governments save fuel costs, cut emissions and provide a boost to Florida’s economy,” Commissioner Putnam said.
The law took effect on July 1, 2013 and was implemented in January 2014. From January through June, there were 572 applications for a rebate, with 272 approved to fit the program’s requirements. The goals, as laid out in the legislation, are to reduce transportation costs, encourage freight investments, and contribute to the economic growth of the state.
Rebates of up to $25,000 per vehicle were provided, with a maximum of $250,000 per applicant. Highlights of the report include:
• A total of $3.9 million in rebates were disbursed to support the purchase, lease or conversion of 272 vehicles.
• Use of these converted vehicles will save an estimated $3.9 million in fuel costs.
• A total of 382 jobs with an average pay of $49,628 were created or retained as a result of the program.
• Of the applicants, 45 percent were government entities, while 55 percent were private commercial ventures.
• Total economic investment is estimated at $128 million.
The full report is available here. For more information about the Florida Department of Agriculture and Consumer Services, visit www.FreshFromFlorida.com.