April 28, 2024
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Top 5 Reasons to Do Business in Florida
2. Global Hub
Business Florida Staff | 10/10/2011
| "Our relationship with Latin America is what gives us the edge. ..."
— Manny Mencia, Sr. Vice |
 [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
