Business-friendly Government: Florida's government and economic development leaders work together to ensure that the state's business climate remains favorable to companies of all sizes, including some of the nation’s leading corporations. Florida is working on legislative, fiscal and marketplace initiatives such as insurance tort reform, targeted industry incentives and others. A recent report notes the success in creating a competitive worker compensation market in the state. The state is also one of only a few right-to-work states in the U.S.
Competitive Cost of Doing Business: Florida offers a cost-efficient alternative to other competitive high-tech states. Put simply, land, labor, and capital are more affordable in Florida than in California or New York, for example. In addition, for businesses in certain targeted industries or specialized locations, the state offers additional financial incentives. Businesses looking for workforce training, road infrastructure or specialized locations, may also qualify for specific incentive programs.
Pro-Business Tax Structure: Business dollars go a lot farther here given Florida's tax advantages, tax exemptions and no state personal income tax. Businesses thrive in this low-tax environment and employees enjoy the benefit of no personal income tax.
Expedited Permitting: Florida understands that businesses need certainty, predictability and efficiency in government regulations. The state's regulatory agencies and local governments provide quicker, less costly and more predictable permitting processes for significant economic development projects without reducing environmental standards.
Available Resources: For entrepreneurs and growing businesses, Florida offers access to capital from private, state, federal and other sources. The state has implemented capital formation initiatives, such as the Florida Opportunity Fund, and economic gardening programs that help Florida businesses expand by offering specialized services such as market information, leadership development, and business management tools. Strategic support is also available to foster the strong entrepreneurial culture in the state.