When it comes to moving, most of your concerns are probably revolving around finding the right apartment rental. You’ve probably looked through articles that talk about why you need to move to Tampa Bay, or what to see in Melbourne while searching for home. Florida is also a great state for business opportunities thanks to many incentives and low taxes. Below are a few reasons why you should consider moving your business to the Sunshine State.
A Business-Friendly Climate
In addition to pleasant weather for most of the year, Florida’s tax structure is business friendly. The state offers no corporate income tax on limited partnerships, subchapter S-corporations, and no corporate finance tax on capital stock. There is also no personal state income tax and no property tax on goods-in-transit or business inventories.
Florida does also offer sales and use tax exemptions on machinery/equipment, aircraft parts, electricity, certain boiler fuels, commercial space activity, and film/tv production.
A Growing Job Market
According to Forbes, Florida is the third fastest growing state for jobs, with future job growth at 2.7 percent. Tampa Bay Online also recently revealed that the Tampa Bay area led the state in job growth, specifically in leisure and healthcare. Hillsborough County lead the state with high skill, high wage job opportunities in science, technology, engineering and math.
Access to the World
For business travel, Florida will put you close to many trade shows or other business events. Many of our properties are a short drive away from Orlando, and our Brevard County properties are a short drive on I-95 away from Fort Lauderdale and Palm Beach. If your business trips involve flights, Tampa International Airport and Orlando International Airports offer access to many domestic and international destinations. Since Florida is also a major tourism destination, airfares tend to be relatively less expensive compared to other parts of the country, making business travel more affordable. For manufacturing and shipping, Florida also has 16 seaports that can connect you with the rest of the world.
Plenty of Places to Find New Employees
As you may know, Florida brings in many people from across the US and Canada looking for new opportunities. With many students attending colleges and universities within state, they will be looking for internship opportunities while in school, and careers after graduation. You will also have retirees looking for part time opportunities as well. The unique mixture of residents in Florida will allow you to have a well-rounded staff.
If you are considering moving an LLC or Corporation to Florida, there are a few additional steps you will need to take that may require some time. The U.S. Small Business Administration has a blog post summarizing what you need to know here.