DOING BUSINESS IN FLORIDA
FloridaCommerce
Bureau of Business Development
407-956-5600
chris.wimsatt@commerce.fl.gov
www.selectflorida.org
“Florida’s economic success is not luck. It is the direct result of Governor DeSantis’ and the Legislature’s leadership and fiscal policy. Florida maintained healthy reserves at the end of FY 2023-24, while making historic investments in education and workforce, infrastructure, and environmental resiliency.”
— J. Alex Kelly, Secretary,
FloridaCommerce
TARGETED GROWTH SECTORS
Aviation and Aerospace: Florida’s aviation and aerospace industry, home to iconic space centers, excels in flight training, manufacturing, and engineering, powered by a skilled workforce and state-of-the-art infrastructure.
Life Sciences: Florida’s life sciences industry thrives with leading biotech, pharmaceutical, and medical device companies, supported by a cutting-edge research ecosystem, innovation, and talent.
Information Technology: The long-established Florida technology industry offers a broad range of expertise, from software to photonics to modeling, simulation, and training.
Top Projects (Capital Investment)
| COMPANY | LOCATION | INVESTMENT |
| United Airlines, Inc. | Orlando | $315 million |
| Bauducco Foods, Inc. | Zephyrhills | $233 million |
| L3Harris Technologies Inc. | Palm Bay | $205 million |
| Aura Aero | Daytona Beach | $172.5 million |
| Hermeus | Jacksonville | $172.5 million |
FEATURED LOCATIONS
The official economic development partnership for Greater Fort Lauderdale/Broward County, we work to help companies create and retain high-wage jobs and encourage capital investment in high-value targeted industries. We also work to create a strong business climate, develop vibrant communities and improve the quality of life for all.
Discover Hernando County, a vibrant Tampa Bay community, where sunny weather shines on a pro-business climate. Here you’ll find a unique blend of top-notch logistics and livability, ideal for new facility development. And the new Wilton Simpson Technical College ensures a talent pipeline for your future workforce.
Indian River County has a friendly, unpretentious atmosphere. Centrally located 70 miles south of the Kennedy Space Center and an hour’s drive north of West Palm Beach, our 543 square miles contain 26 miles of unspoiled beaches, groves of renowned Indian River grapefruit, immaculate oceanfront estates and riverfront communities – free from urban sprawl and congestion. We are located within a three-hour drive of 17.9 million potential customers – 90% of Florida’s population.
Recognized as the Cruise Capital of the World© and Cargo Gateway of the Americas, PortMiami serves as a major gateway for international trade and tourism. Featuring state-of-the-art facilities, innovative shipping solutions, and numerous cruise lines, PortMiami contributes significantly to the local and state economies.
Putnam County, Florida offers economic opportunities and an abundance of natural amenities attractive to businesses and development with access to major markets and a high standard of living. Located halfway between major hubs of Atlanta and Miami, Putnam County boasts access to regional transportation networks. These factors are balanced by a small-town charm and many festivals and outdoor recreational opportunities that entice residents and visitors alike.
FAST FACTS
Population (2024 est.): 22,610,726¹
Largest Cities (2024 est.): Jacksonville (997,164); Miami (460,289); Tampa (408,510); Orlando (325,044); St. Petersburg (264,982)¹
Real GDP (2023): $1.29 trillion²
¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce
TAX CREDITS
Florida encourages growth throughout the state by offering increased incentive awards such as the Capital Investment Tax Credit (CITC). This annual credit, provided for up to 20 years, is used against the corporate income tax. Eligible projects are those in designated high-impact portions of targeted sectors. Projects create a minimum of 100 jobs and invest at least $25 million in eligible capital costs.
TOP BUSINESS FACILITIES RANKINGS
| #1 Fastest Growing | 2024 State Rankings |
| #3 Cybersecurity | 2024 State Rankings |
| Top 5 Aerospace/Defense | 2024 State Rankings |
| Top 5 Foreign Direct Investment | 2024 State Rankings |
| #1 Tech Talent Leaders (under 50k): Orlando | 2024 Metro Rankings |
| #2 Best Business Climate (Mid-Sized): Fort Lauderdale | 2024 Metro Rankings |
| #3 Fastest Growing Counties (net migration): Pasco County | 2024 Metro Rankings |
| #3 Top Performing Container Ports: Port Everglades | 2024 Metro Rankings |
| Top 5 Fastest Growing Cities (#): Jacksonville | 2024 Metro Rankings |
| Top 5 Fastest Growing Metros (%): Port St. Lucie | 2024 Metro Rankings |
