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October 21, 2014

Top 5 Reasons to Do Business in Florida

2. Global Hub

"Our relationship with Latin America is what gives us the edge. ..."

— Manny Mencia, Sr. Vice
President, International Trade & Business Development,
Enterprise Florida Inc.

International trade
[Photo: iStockphoto]

International Trade

  • Total merchandise trade (exports plus imports) of $126.2 billion in 2010, an increase of 23% over 2009
  • 28% of total U.S. trade with Latin America and the Caribbean, more than any other state
  • Highest trade surplus among all U.S. states
  • 2nd largest Foreign Trade Zone (FTZ) network in the nation, where tariff-free value can be added to foreign goods before they are shipped on to other countries

Exports/Imports

  • 3rd largest exporter of high-tech products among U.S. states with sales exceeding $15.1 billion in 2010
  • A leader in knowledge-based exports — accounting, legal, medical, consulting, engineering and other services— at $29.9 billion in 2010
  • $55.2 billion in Florida-origin exports — goods produced or with significant value added in Florida — account for 20% of all U.S. exports to Latin America and the Caribbean in 2010
  • More than $12 billion worth of imports in 2010 from China and Japan alone

Foreign Direct Investment (FDI)

  • 9th among all U.S. states in total holdings by majority foreign-owned firms
  • 6th in FDI employment

FDI Country Rankings
Investment   Employment
1. Japan $4.16 billion 1. United Kingdom 45,000 jobs
2. Germany $4.13 billion 2. Canada 24,300 jobs
3. United Kingdom $3.88 billion 3. Germany 22,600 jobs
4. Australia $3.56 billion 4. Japan 21,100 jobs
5. Canada $3.36 billion 5. Netherlands 20,700 jobs

Florida’s Top 5
Merchandise Trading Partners
1. Brazil $15.9 billion
2. Colombia $7.6 billion
3. China $7.4 billion
4. Japan $6.0 billion
5. Switzerland $5.5 billion

Connectivity

Roads

  • 12,066-mile state highway system, plus 110,000 miles of other public roads


Rail

  • 2,796 miles of main route rail lines connect major business centers and airports nodes


Airports

  • 21 commercial airports offer non-stop scheduled service to more than 120 domestic and international destinations
  • More direct flights to Latin American and Caribbean destinations than all other U.S. airports combined


Seaports

  • At least one deepwater port within 90 miles of every Florida business
  • Increases in container capacity, cranes and berths at many ports to accommodate post-Panamax ships


Spaceports

  • 2 of the 8 commercially licensed spaceports in the United States


Telecommunications

  • One of the world's top 5 telecom hubs
  • Network Access Point (NAP) in Miami, a major switching station for Internet traffic coming into and out of Latin America
  • High-speed networks, such as Florida LambdaRail and LA Grid, facilitate R&D efforts

Tags: Business Services, Business Florida

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