NEW FLORIDA LAW COULD SCARE AWAY BUSINESS
Florida Gov. Rick Scott has strived to foster a business-friendly environment in this state and has courted international companies in overseas trade missions, the Wall Street Journal reported June 25. But a measure he signed into law in May that targets foreign firms with usiness ties to Cuba threatens to complicate those efforts.
The law, which took effect July 1, bars the state and local governments from hiring such firms for contracts worth at least $1 million.
The measure, which would apply only to future contracts, is worded so that even if a U.S. subsidiary of a foreign company has no direct business with Cuba, it would still fall under the ‘scope if another subsidiary of the parent company does work on the island. Meanwhile, Odebrecht USA — the Miami subsidiary of its Brazilian parent — filed a lawsuit against the state in U.S. District Court in Miami, arguing that the new law is unconstitutional.
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