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Advantages of Doing Business in the Sunshine State
June 07, 2017
Laura DiBella
With its year round sunshine, generous tax benefits and access to a large number of diverse markets, it's easy to see why so many businesses are flocking to the Sunshine State to ply their trade.  Add to this the large supply of available industrial land, a thriving tourist industry and excellent transportation infrastructure via air, sea and land and you may be wondering why you didn't include Florida in your business plans years ago.

A Thriving Tourism Hotspot

According to Visit Florida, the Sunshine State attracted over 112 million tourists in 2016 alone making it one of the most popular tourist destinations in the world.  Whether you are in the hospitality industry or you offer a franchise that will appeal to the tourism market, this popularity is just one of the reasons to move your business or open up a Florida facility.  If that wasn't enough, you also have millions of permanent residents to pitch your products or services to.

Make Real Estate While the Sun Shines

When it comes to prime real estate, Florida is one of the most affluent and has some of the world's super rich snapping up properties, both residential and commercial, in their droves.  This is great news for property developers in itself, but an extra bonus is that Florida's climate is perfectly suited for construction year round.  Concrete mixtures do not set below a certain temperature, and rain and wind can delay projects for weeks and sometimes months at a time in other regions with more inclement weather.  This means faster construction, more completed projects and ultimately more profit year on year.

Tax Break Paradise

One of the biggest boons for both small and large business owners is tax breaks, and not many states offer more generous breaks than Florida.  You'll pay no personal income tax, and there is a virtual cornucopia of other benefits available to those who choose to do business here.  Another notable benefit is the Community Contribution Tax Credit.  This tax break allows companies to make a donation to any eligible community-based organization and to enjoy a 50 percent credit against their corporate income tax every year.  The small business climate is certainly strong in Florida and encourages many people to break from the 9-5 and go it alone.

Industrial Land Aplenty

Whether you are looking for storage facilities or a large warehouse for your business, there are many industrial land options available across the state.  Central and North  Florida are among the fastest-growing business hubs in the U.S. and with this growth comes the demand for more industrial real estate, ecommerce logistics and warehouse properties across the area.

A Robust and Reliable Transportation Network

Whether you are importing, exporting or both, Florida's vast and varied transportation network makes light work of getting your goods from point A to B.  International airports, a comprehensive rail network and a number of major seaports mean there are lots of opportunities for the egress and ingress of people and goods alike.  For many businesses, transportation is a top priority and Florida's well-maintained and top notch transportation infrastructure bring peace of mind and more opportunity for conducting business locally and globally.

Resources for Businesses Breaking into Florida

For the business looking to shine in the Sunshine State, there are many reasons to move or expand your operations to Florida.  Nassau County, for example, enjoys a low-tax climate, access to over 50 million potential customers and has excellent transportation infrastructure that links the county across the U.S. and to the rest of the world.  Whether you are looking to move your operations down South or you're here and ready to start a new business, Florida is the land of opportunity in every sense of the word.

Sources:

http://www.visitflorida.org/resources/research/
http://money.cnn.com/2015/02/04/luxury/super-rich-real-estate/
http://floridarevenue.com/dor/taxes/tax_incentives.html
http://www.nassauflorida.com/home.aspx
The NCEDB exists because of the generous support of the Nassau County Board of Commissioners, our local municipalities and economic development partners.
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