Florida: Top 5 Reasons Why Florida is Fertile Ground for Business

Florida's warm and sunny weather has long drawn residents and visitors eager to experience all the state has to offer. But in today’s economic environment, it takes more than a great climate to call a place home. While we’re all well aware of Florida’s great beaches, you may not be aware that Florida is also one of the best states in the country for business growth as well.
As a Member of the Top 5 in Real Estate Network®, clients often ask me how Florida rates when it comes to starting and/or growing a business. The fact is, Florida is the fourth most populous state in the United States and is comprised of a diverse population that fuels innovation and highly skilled workers.
According to Cynthia Shelton, the 2009 president of the Florida Association of Realtors (FAR), with no state income tax and a favorable tax environment for corporations, Florida is an attractive location for people who want to own their own business and raise their families in a desirable place close to their livelihood. According to Enterprise Florida, (http://www.eflorida.com) here are five reasons why:

1. Florida continues to be one of the best states for business, ranking No. 1 in the nation for workforce; among the top 10 in technology and innovation, and also in access to capital; and moving up to rank third overall in Chief Executive's survey of the best places for jobs and business growth. (Chief Executive, March 2009)

2. Four Florida metros - Orlando, Miami-Ft. Lauderdale, Cape Coral-Fort Myers and Jacksonville, are among the nation's best places to start a small business. (Bizjournals, Feb 2009)

3. Florida has the second highest number (tied with Washington) of leading metropolitan areas on the Milken Institute/Greenstreet Real Estate Partners Best Performing Cities 2008 - 2009 Largest Metros Index. Florida consistently ranks among the top states in this annual report, which measures economic growth, job creation and technology growth. (Milken Institute, September 2008)

4. Florida continues to gain ground among the nation's top states for entrepreneurship, moving up to rank fourth overall in the 2008 Small Business Survival Index. Florida's low tax rates have helped improve its rating from sixth in 2006 and fifth in 2007. (Small Business & Entrepreneurship Council, December 2008)

5. Florida continues to rank among the top five states for best tax climates for business, according to a Tax Foundation survey. With no state income tax, low corporate taxes, a low unemployment insurance tax rate and sales tax exemptions for certain business transactions, Florida has remained among the top five U.S. states since the survey's inception. (The Tax Foundation, October 2008)