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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.
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
