December 5, 2022
Prosper Here and Now

Florida's top assets
Business Climate

Prosper Here and Now

| 11/9/2022

You may know Florida simply as America’s best vacation destination. We’re here to tell you it’s all that and so much more. In addition to beautiful beaches and many of the world’s best theme parks, Florida is an undeniably great place to do business. Here’s proof.

In 2022, for the 7th consecutive year, TaxFoundation.org ranked Florida’s tax climate No. 1 in the Southeast and No. 4 nationwide, and Chief Executive magazine named Florida the No. 2 “Best State for Business” for the 11th year in a row. And while businesses in many states were under orders to close their doors in 2020-21 due to COVID-19, not only were existing Florida businesses encouraged to remain open, brand new businesses popped up too.

In 2022, WalletHub ranked Florida No. 7 among its “10 Best U.S. States to Start a Business,” citing Orlando (No.1), Miami (No. 2), Jacksonville (No. 3) and Tampa (No. 10) as best large cities to launch in. Also cited, four “Best Small Cities to Start a Business”: Fort Myers (No. 5, up from No. 8 a year ago) and newcomers South Bradenton (No. 6), Winter Park (No. 10) and Sarasota (No. 19).

No doubt about it ... Florida is a great place to live and an even better place to do business. Won’t you join us?

BUSINESS-FRIENDLY
Government: Florida’s government and economic development leaders work to ensure that this state remains favorable to all kinds of companies — from multinational corporations with hundreds of employees to business startups with just two or three. To that end, Florida has cut thousands of burdensome regulations across the board.

Tax Structure: Business dollars go further in Florida for two reasons: low corporate taxes and zero personal income tax. Florida’s long history of responsible spending over many years ensures a consistent record of AAA bond ratings. As a result, businesses and their employees, who pay no personal income tax on their earnings, continue to thrive.

Permitting: Regulatory agencies and local governments across Florida provide quicker, less costly and more predictable permitting processes, helping to fuel an atmosphere of certainty, predictability and efficiency from the top down.

Support: Florida business owners never have to go it alone thanks to these opportunities for collaboration: one-on-one counseling at more than 40 Small Business Development Centers; low-cost space and services at dozens of high-tech incubators, accelerators and university-based research parks; customized workforce training; and ready access to funding through venture capital companies, financial institutions and federal and state programs.

FLORIDA'S TAX CLIMATE
No.1 in the Southeast;
No. 4 in the U.S.
TaxFoundation.org

BEST STATE FOR BUSINESS
No. 2 in the U.S.
ChiefExecutive magazine

THE 10 BEST STATES TO START A BUSINESS
No. 7 in the U.S.
WalletHub

 

Florida's top assets

 

Tags: Business Florida, Competitive Assets

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