June 30, 2022

Top 5 Reasons to Do Business in Florida

1. Business Climate

"Florida is open for business — your business."

- Gov. Rick Scott

Business-Friendly Government

  • Leaders committed to keeping Florida's business climate favorable
  • Periodic reviews of regulations to ease the burdens placed on business
  • One of only 10 states with a right-to-work provision in its constitution


Competitive cost

  • More affordable land, labor and capital than in most comparable states
  • Special incentives for businesses in targeted industries
  • Tax breaks for locating in rural and urban Enterprise Zones or on Brownfield sites


Pro-Business Tax Structure

  • Limited corporate taxes; no personal income tax
  • No property tax on business inventories or goods-in-transit (up to 180 days)
  • Sales and use tax exemptions for specific industries and circumstances


Expedited Permitting

  • Ongoing effort to make permitting processes quicker, less costly, more predictable


Available Resources

  • Access to private capital from venture capital companies and financial institutions
  • Access to public capital through federal and state programs


Entrepreneurial support

  • One-on-one counseling and training via 35 Small Business Development Centers throughout Florida and the National Entrepreneur Center in Orlando
  • Flexible, low-cost space and business services for young companies at dozens of high-tech incubators, accelerators and university-based research parks
  • Assistance in preparing proposals for funding through the U.S. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs
UCF's College of Medicine & Florida Capitol in Tallahassee
Florida's exceptional business climate is the catalyst for new activity, University of Central Florida's College of Medicine (above, left); the Vaccine & Gene Therapy Institute rising in Port St. Lucie (below); regulatory review is under way in Tallahassee. [Photo: Left - UCF College of Medicine; Right - iStockphoto; Bottom - Steve Martine]
Jay Nelson

Tags: Politics & Law, Business Services, Government/Politics & Law, Business Florida

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Florida Trend Video Pick

3.1 million cars on Florida roads have open recalls
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With July Fourth holiday travel just days away, the National Highway Traffic Safety Administration and Carfax are alerting Florida vehicle owners of open recalls that need to be taken care of, most free of charge.

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