From beautiful sandy beaches to professional sports teams to outstanding health care to rich cultural diversity, there’s something for everyone to like about Florida.
From the start, you’ll be putting more money into employees’ pockets without spending an extra dime on overall payroll expenses. Florida’s favorable tax climate includes an absence of a state income tax.
“We hear that a lot when we're working with prospective businesses, particularly from those states with high state income taxes,” says Suzanne Christman, director of business development for Pinellas County Economic Development. “They want to be in the tropical paradise of Florida. Not just because of the great weather and the beaches, but also because there’s no state income tax. That's a huge driver.”
And despite being one of the fastest growing states in the nation, Florida’s home prices have remained relatively affordable. Consider that the median price for an existing U.S. home is around $400,000, according to the National Association of Realtors. Florida is slightly above that figure at $430,000 — but well below East Coast and West Coast states.
Efforts by state and local development officials have come together to create an environment — with safe neighborhoods, art and diversity — where people want to live. That’s why Florida is attracting high-wage companies that have the freedom to relocate wherever they want in the country, says Kelly Smallridge, president of the Business Development Board of Palm Beach County.
“You're going to get the high paying jobs at $200,000 with the C-suite executives, instead of the people making minimum wage,” Smallridge says. “That’s the difference you see when there's a great quality of life paired with an economic development strategy that understands there has to be a balance between development and the beaches and the parks.”
No Shortage of Recreational Activities
Gather 10 Floridians around a table and ask them to list their favorite things to do in the state. Don’t be surprised if you get 10 different answers.
Beach lovers will enjoy having access to more than 800 miles of sandy beaches, thanks to Florida having the longest coastline in the U.S. — not counting Alaska. It is difficult to find a place to live in Florida where you are more than 45 minutes from the nearest beach — and you won’t find yourself in the bumper-to-bumper traffic surrounding places like the Jersey Shore, with its relatively modest 130 miles of beaches.
Not a beach bum? How about spending a day with the family at one of the world-class theme parks — including Central Florida’s Walt Disney World Resort — that help attract more than 140 million tourists to the state each year.
Florida is also an outdoor enthusiast’s paradise, with large tracts of undeveloped land set aside to support native wildlife. Leading the way is the massive Everglades National Park, with its 1.5 million miles of wetlands and marine habitats. There are smaller parks and conservation areas blanketing the state, offering opportunities for birdwatchers, photographers and others to enjoy an unfiltered view of nature.
Biking and hiking trails can be found throughout the state. With year-round sunshine and mild winters, Florida offers ample opportunity for employees and residents alike to enjoy the great outdoors 365 days a year.
Sports fans have no shortage of cheering (or jeering) opportunities, with nearly a dozen professional franchises representing the National Football League, Major League Baseball, the National Hockey League, the National Basketball Association and Major League Soccer.
“We've got phenomenal professional sports teams here,” says Bob Swindell, president of the Greater Fort Lauderdale Alliance. “The Florida Panthers are special, with two Stanley Cup wins under their belt. I see the way professional sports teams can pull communities together.”
These are just some of the many reasons those millions of tourists travel to Florida from all around the nation and the world.
“You know, people save up all year to vacation here for a week. But we have the luxury of living here year round,” Swindell says.
A Matter of Health
Nobody wants employees to get sick. But when that happens, Florida provides access to top doctors and health care facilities across the state.
One of the advantages of being a growing state with an expanding base of high-wage jobs is that it creates better health care opportunities — for companies, research facilities, educators and state residents.
Nowhere is this better demonstrated than in Palm Beach County, where billions of dollars in new money (often migrating from the Northeast) have been followed by health care institutions and other key services.. Already, Cleveland Clinic and NYU Langone Health are making significant investments in new facilities in the area.
And then there are the concierge doctors who work with small networks of C-suite executives for highly customized care.
“There's a wide array of offerings that have been created recently in Palm Beach County that weren't here just a short five years ago,” Smallridge says.
Florida is a large state, with a diverse population of more than 23 million people in numerous large metropolitan areas. Each of these regions has its own unique flavor and offerings. It’s just a matter of identifying the right fit for a company and its employees.
Florida's top assets