As of April 2019, Florida has 81 Federally permitted mitigation banks and 32 mitigation banks that are pending the federal permitting process. As you can see from the map below, the service areas that mitigation banks represent is majority of the state of Florida. The mitigation banking industry is growing strong since its inception in the 1990’s. The mitigation banking industry grants private landowners credits for investing in restoration; landowners can then sell these credits to developers who need to compensate for the impacts of development within their geographic service area. The mitigation banking industry now dominates the emerging restoration economy, a sector that generates $9.5 billion annually. More than 1,800 mitigation banks are located throughout the United States.
