Three Reasons Why My Company Is Moving To Florida


Gilda is the founder and CEO of technology solutions and compliance consulting services company PQE Group.

Are you thinking of starting a business? Florida might be the perfect place for you. After recovering from the bursting of the housing bubble between 2006 and 2011, the state’s economy is now flourishing. As of Q4 2021, Florida’s GDP ranked 4th in the U.S. and has seen growth of over 30% between 2011 and 2021.

In 2019, Forbes ranked Florida fifth on its Best States for Business List, detailing its high average rate of net migration and projecting that its job and income growth would top the nation in the next five. Florida also ranks first in the Kauffman Early-Stage Entrepreneurship Index, with very promising indicators for 2021, like 86% of new entrepreneurs creating a business there by choice instead of necessity and a startup survival rate of 80%.

As part of our global expansion strategy and in line with many European businesses seeking to create a home in the world’s largest economy, my own company is setting up a subsidiary in the U.S. After much consideration, we decided that Florida would be the best fit for our organization. We are looking forward to introducing our consulting services to the life sciences sector and leveraging the many benefits Florida has to offer growing businesses.

Here are three specific reasons why the Land of Flowers is also becoming the Land of Business:

1. Exciting Growth In Jobs And Salaries

According to the U.S. Census, Florida’s population growth through the last decade was 14.6%, the highest of all states. Florida has also recently seen an influx of remote workers due to its low cost of living, with northeast Florida, in particular, seeming to be a popular area for remote work.

It’s no wonder Florida is so attractive to workers, as in addition to enjoying a low cost of living, they earn more. Salaries in the state increased by 9.7% from December 2020 to December 2021, the second biggest increase in the U.S. As more businesses open offices in Florida, the job market in the state is booming, too. The unemployment rate lowered from 8.9% to 3% between April 2021 and April 2022.

Major companies are moving to or increasing their investment in Florida, and multiple billionaires have bought homes in the state—Palm Beach County alone has around 44 billionaires.

2. A Great Location For Business

The reasons Florida ranks so highly as a good environment for business include its pro-business policies and streamlined regulatory environment. The state offers incentives to attract all types of businesses, from corporate headquarters to manufacturing plants and service firms.

The state also has 16 international passenger service airports, with several, like Tampa, Orlando and Miami, offering direct flights to Europe. In addition, there are several new transportation developments in the pipeline, including rail systems.

Florida’s tax policies are another attraction. It is one of only nine states with no income tax, and there is no tax on inheritances, gifts or intangible personal property, like shares. In addition, corporations that exist in Florida have the benefit of only being required to pay 5.5% on their corporate income tax return, and no payroll tax. That can be a gamechanger for a business that’s just starting up or an established business that’s looking to leave a high-tax state.

3. The Sunshine State

Not for nothing is Florida known as the Sunshine State. It is the hottest state in the U.S., with lots of sunshine and an average annual temperature of 70.7°F. The southernmost state in the U.S., its northern and central areas have a subtropical climate and its southern areas are tropical. Its year-round great weather makes almost every day a beach day.

Much of Florida boasts beautiful outdoor scenic views in every direction. The state has 8,436 miles of coastline—second only to Alaska—and much of this is used by people for homes, agriculture, industry, tourism or other businesses.

Perfect For People—And For Starting Or Growing A Company

There are many reasons Florida is becoming a hub for entrepreneurs and business owners. The state has an innovative public policy that encourages research and development of new products. It also has low taxes and a pro-business climate, as well as a large workforce that is culturally and linguistically diverse. The rail system, public and commercial airports and deep-water seaports are indicative of a highly developed infrastructure geared to serve many different types of industries.

The growth and new business stats clearly demonstrate that the state has a winning formula for business attraction: an upwardly trending economy, a thriving entrepreneurial ecosystem, excellent quality of life and so much more.

My company decided that Florida was the best choice for us. I encourage you to consider it as well if you’re looking for a place to start or move your business. The Sunshine State is full of opportunities for savvy business owners.


Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?




Source link

ALSO READ:  How The Metaverse Will Change Consumer Buying

Follow Us

Follow us on Facebook Follow us on Pinterest