Florida offers talent pools, prime location, tax incentives, and innovation hubs. Companies also avoid winter disruptions and costs.
Major investments established Florida as an innovation center. With young professionals moving to cities like Miami, businesses access eager workforces.
The tourism, real estate, construction, and hospitality sectors thrive in Florida. For example, steady hospitality demand comes from the state’s beaches, cities, and attractions. Population and development growth drive real estate and construction continuously.
Florida has a 5.5 percent corporate tax rate and no personal income tax or payroll taxes. This makes it fertile ground for emerging industries and new businesses leaving high-tax states.
The process of obtaining a Florida federal tax ID number is straightforward, which makes it easier for new businesses to start running. Florida state law requires employers to report newly hired or rehired employees to the state board within 20 days of their start date.