Incorporating in Florida offers numerous advantages for businesses. The state boasts a skilled workforce, consistently reflected in its lower-than-national unemployment rate. Florida serves as a hub for thriving industries, including aerospace, supported by a pro-business government stance on taxes and economic development.
Florida is renowned for its academic and research prowess in sectors like aviation, aerospace, biotechnology, microelectronics, optics, photonics, and real estate. This environment attracts significant venture capital investment. Even after the severe hurricane season of 2004, venture capitalists remained keen on Florida. According to the 2005 PricewaterhouseCooper NVCA MoneyTree Survey, venture capital investment in Florida companies totaled $99.3 million in the first quarter of 2005.
Florida’s rapid economic and business recovery post-hurricanes was largely driven by the state government’s pro-business policies. Its low tax rates encouraged businesses to reinvest in the state’s redevelopment. Beyond low taxes, the government supports initiatives like Enterprise Florida, Inc. (EFI) to foster business growth.
EFI, established in 1996 as a public-private partnership, spearheads Florida’s economic development efforts. Its mission is to diversify Florida’s economy and create higher-paying jobs by supporting and attracting businesses in innovative, high-growth industries. EFI provides support to sectors like IT, life sciences, aviation, aerospace, security and defense, and finance and professional services. EFI assists businesses in identifying suitable land and determining eligibility for tax breaks and other incentives.
As stated by then-Governor Jeb Bush, Florida remains committed to business-friendly policies, low taxes, and economic diversification. These factors highlight the significant advantages of incorporating in Florida, making it an attractive destination for businesses seeking growth and opportunity.