July 24, 2014

Top 5 Reasons to do Business in Florida

#5 Global Access

Florida links your business to the world in ways that no other Western Hemisphere site can.

| 9/20/2012
For companies looking to “go global,” the state’s unique combination of strategic geographic location, state-of-the-art infrastructure, multilingual workforce and concentration of corporate and financial resources facilitates the easy flow of people, goods and services.

INTERNATIONAL TRADE

• Merchandise trade (exports plus imports) totaled $149.2 billion in 2011, an increase of 18.2% over 2010 and better than U.S. trade growth overall

• 26% of total U.S. trade with Latin America and the Caribbean, more than any other state

• 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

• 58,310 exporting companies, representing 20% of all U.S. exporting companies

• Merchandise exports totaling $86.8 billion in 2011, an increase of 18.7% over 2010

• 3rd largest exporter of high-tech goods among U.S. states with sales exceeding $16.4 billion in 2011, a gain of 18.4% over 2010 and an all-time high

• A leader in knowledge-based exports — accounting, consulting, engineering, legal, medical and other services — at $34.7 billion in 2011

• $64.8 billion in Florida-origin exports — goods produced or with significant value added in Florida — accounting for 19% of all U.S. exports to Latin America and the Caribbean in 2011

• At $62.4 billion in 2011, imports grew by 17.4% over 2010

• $13 billion worth of imports in 2011 from China and Japan alone

FOREIGN DIRECT INVESTMENT (FDI)

• 8th among all U.S. states in total value of holdings by majority foreign-owned firms

• 6th in FDI employment

• Home to 20 EB-5 Regional Centers offering foreign nationals the opportunity to obtain permanent U.S. residency while investing in Florida through the EB-5 Investor Visa program

• Majority foreign-owned companies from the European Union account for 57% of all FDI employment in Florida, followed by Asian/Pacific countries (21%), Canada (9%) and Latin America/Caribbean/Mexico (8%)

ECONOMIC IMPACT

• International business — trade in goods and services plus foreign direct investment — accounts for 18% of Florida’s economic output and 1 out of every 6 jobs

• With an increase in exports of 17% in 2011, Florida is on track with its 5-year goal to double exports by the end of 2014

Florida’s Top 5 Merchandise Trading Partners

1. Brazil - $18.5 billion

2. Colombia - $9.1 billion

3. China - $8.3 billion

4. Venezuela - $7.9 billion

5. Switzerland - $7.9 billion

For exporting assistance, visit www.eflorida.com/export

Tags: Business Florida, Why Florida?

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single ditgital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Lazydays to star in new Travel Channel show about buying an RV
Lazydays to star in new Travel Channel show about buying an RV

Shopping for an RV at Lazydays RV SuperCenter in Seffner is the focus a new reality show premiering Sunday on the Travel Channel.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

When Obamacare finally gets to the U.S. Supreme Court, do you believe it will stand, or be gutted?

  • The Affordable Care Act will stand
  • I believe it will be dealt serious, if not fatal, blows by highest court

See Results

Ballot Box
Subscribe