Why You Should Invest In Florida
Florida is the world’s number one travel destination with almost 87 billion annual visitors gracing the state with their presence and money due to its glorious climate, fantastic arts scene and exciting and vibrant nightlife and culture. With all these people comes income as tourism is a major contributing factor to the state’s economy with around $57 billion coming into its coffers each year via tourists living it up.
The reasons that make the state such a popular tourist destination also contribute to its being one of the fastest growing states in the country, just behind California and Texas, as many up sticks and relocate to the warm beaches and coastal regions to live in the lap of luxury. Most of these newer residents are retirees with large nest eggs to spend on health and retail as well as property and refurbishments. The Census Bureau predicts a population of 11 million Florida residents in the next 25 years with real estate in the area being relatively high and a great money spinner.
But it’s not just real estate that is benefiting as Florida has a very pro-business environment with the professional and business sectors also booming. Attractive to big tech firms and tech start-ups alike because it provides exemptions for business-to-business software sales, there is also high demand for the renting of qualitative real estate.
In fact, Florida is one of the most business friendly states in the USA and often draws foreign investment and business due to its geographical location making it perfect to break into the well-established American market alongside the emerging South American and Caribbean markets. About 40% of all US exports pass through the state as it makes the most of its concentration of workforce and corporate and financial resources.
These reasons all contribute to its strong and growing economy which is incredibly diverse with such fields as the aforementioned tourism and real estate, farming (Florida produces 75% of the USA’s oranges), aerospace, transportation, healthcare and construction. It also offers up affordable living with its incredibly accessible tax system with no personal income tax required for both individuals and corporations, and the corporate income tax being about 5.5%. Purchasing processed and financial assistance are simpler than in many other American states and so foreign investment is a regular occurrence.
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