November 27, 2021
In Good Company

In Good Company

| 11/8/2021

Many states compete to attract new business, but few can match the scale and scope of Florida’s industry assets. Thanks to a robust economy, competitive costs, a top-ranked workforce and easy access to domestic and global markets, Florida-based companies of all sizes in these key industries are experiencing unprecedented success:

Logistics & Distribution

No. 1 Air cargo with Latin America and the Caribbean

No. 2 Largest Foreign Trade Zone network in the U.S.

No. 3 Largest cluster of logistics & distribution establishments in the U.S.

As a leading international trade center and home to an extensive multimodal transportation system, Florida excels at moving people, products and services anywhere fast. Most key global shipping lines and airline alliances (including specialized cargo operators), 3PLs and VALs have a presence in Florida.

Corporate Headquarters

No. 1 Best tax climate in the Southeast

No. 3 Largest civilian labor force

No. 4 Best tax climate nationwide

0% Personal income tax

Corporate headquarters are naturally drawn to Florida for its highly favorable business climate, which includes a low corporate tax burden, no personal income tax and modern infrastructure. More than 300 international companies have established a presence here.

Aviation & Aerospace

No. 3 Annual exports by aviation and aerospace businesses
($7.2 billion)

No. 8 Best undergrad aerospace engineering program (Embry-Riddle Aeronautical University

540+ Aerospace establishments in Florida

Home to the renowned Kennedy Space Center, Cecil Spaceport and Cape Canaveral Air Force Station, Florida remains the undisputed air traffic hub of the Americas, a major center for flight training and MRO and home to more than 2,300 aircraft and aviation/aerospace establishments. And now, having celebrated the 50th anniversary of the first lunar landing in 2019, NASA and a host of commercial partners are looking to the future: a return to the moon in 2024 and an eventual mission to Mars.

Information Technology

No. 1 High-tech employment in the Southeast

No. 3 Largest high-tech industry

No. 4 High-tech U.S. employment

No. 5 High-tech jobs added in 2020

Since birthing the IBM PC in Boca Raton four decades ago, Florida has remained at the forefront of IT innovation. With more than 33,000 high-tech companies in residence, Florida’s strengths are wide ranging — from computer systems design, photonics and mobile technologies to modeling, simulation and training.

Financial & Professional Services

No. 4 Largest financial services industry in the U.S.

15 Global banks with U.S. headquarters in Florida

121 Commercial banks with $193.6 bil. in assets under management

A diversified economic structure has fueled Florida’s ability to become a true global player in providing high value-added services in finance, insurance, engineering, accounting and consulting. Ready proximity to and cultural connections with Latin America have further enhanced Florida’s reputation as an international banking center and leading location for shared services.

Defense & Homeland Security

No. 2 Space and defense systems manufacturing

No. 5 Department of Defense contract awards

As home to 20 major military installations, three unified combat commands and some 18,000 defense-related companies, Florida’s defense and homeland security industry exerts a $95 billion annual economic impact statewide. From satellites to encryption technologies, Florida companies are at the leading edge of all major military and government markets.

Life Sciences

No. 2 Largest pharmaceuticals and medicine manufacturing industry

No. 3 Most clinical trials initiated among the states

$1.5 bil. Spent annually on life sciences R&D by Florida universities

Cutting-edge breakthroughs in medical treatment, pharmaceutical development and biotech research happen almost daily thanks to the presence of such industry leaders as Actavis, Arthrex, Bristol Myers Squibb, Johnson & Johnson and Medtronic, plus a university system committed to life sciences R&D.

Clean Technology

No. 2 State for solar jobs

No. 3 State for clean energy employment

Recognizing the undeniable link between sustainability and the economy, Floridians are hard at work finding ways to build a leading clean technology hub by harnessing two of this state’s greatest assets — sunshine all across the peninsula and Gulf Stream currents along its 1,350-mile coastline.

Manufacturing

No. 3 Most innovative state

20,200 Manufacturing companies

$55.9 bil. Total financial output

Florida’s manufacturers produce a wide variety of goods, including aerospace products and parts, boats, batteries, communications equipment, food and beverages, plastics, pharmaceuticals, semiconductors and textiles.

 

 

Tags: Business Florida, Competitive Assets

 

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