CAPCO Programs

Small businesses can turn to their local CAPCO programs for funding:

Fostering new businesses in your county (with their new tax revenue potential) is obviously a much better way to deal with state budget cutbacks and dwindling local revenues than increasing taxes or cutting services or both. And it doesn’t necessarily take a new automobile assembly plant in your community to turn the revenue slide.

For most counties, small businesses are the economic engines for their communities. The National Association of Small Business Owners reports that small businesses employ 51 percent of private sector workers; provide two-thirds to three-quarters of the new jobs; and represent 96 percent of all exporters of goods.

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The South Florida Business Journal reports that there is a great need for venture capital in Florida and tech companies are hoping to expand the CAPCO program to meet this need:

Venture capital lobbyists are preparing a new push to expand Florida’s Certified Capital Company (CAPCO)program, and CyLex of Boca Raton is part of the case they are building for the Florida Legislature.

CyLex is moving toward profitability as an applications service provider for its clients’ Internet operations. The company credits its growth partly to venture capital it has received from a CAPCO fund.

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Pamela Leavy from the Tampa Bay Business Journal discusses the introduction of Advantage Capital Partners as a venture capital company in Florida’s CAPCO program:

New on the venture capital block is Advantage Capital Partners LLC, located in a suite on the 24th floor of the AmSouth Bank building in downtown Tampa.

Tim Cockshutt is principal of the national firm’s Florida office which signed, sealed and delivered its first venture capital deal in September 1999. A little more than $2 million went into the coffers of Control Center LLC in Orlando, manufacturers of power generation equipment.

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