WILLIAM VASANA, CIPS, CDPE, CRS, GRI, LMC, SFR, TRC, MBA
Mobile: (904) 307-8998
Voice: (904) 421-1790
Toll: (866) 391-4343
Fax: (904) 641-1601
Comparative Market Analysis
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By just about every indicator, Florida is the world's economic hot spot. For the past three years, Florida has produced more jobs than any other state. And Florida's reputation as a high-tech haven continues to strengthen. From low taxes to reasonably priced land, from a capable workforce to convenient transport systems, from solid infrastructure to glorious weather, Florida is a great place to do business. Discover why Florida has become the premier business arena in the U.S.
Population: 1.3 million (40th in nation)
Population Growth: 10.6% increase (2007-2012)
Labor Force: 653,526
Number of Households: 510,100 (40th in nation)
Median Age: 36.5 (youngest major city in Florida)
Median Home Value: $198,700
Average Household Disposable Income: $55,833
Households with Disposable Income $150,000+: 15,511 (38th in nation)
Total Effective Buying Income: $28.4 billion (42nd in nation)
Total Retail Sales: $25.9 billion (38th in nation)
74% of households own a computer;
71% access the Internet
Edward Waters College, Flagler College, Jacksonville University, University of North Florida
Florida Community College at Jacksonville, St. Johns River Community College
Airports: Jacksonville International Airport
Seaports: Port Fernandina, Port of Jacksonville
Naval Air Station (NAS) Jacksonville, Naval Station Mayport, Naval Submarine Base Kings Bay
New Year's Gator Bowl, Georgia-Florida Game, The Players Championship, Jacksonville Suns AA Baseball, PGA Hall of Fame, World Golf Village, Jacksonville Jaguars
Sources: Demographics USA 2007; The Florida Times Union 2008; Claritas 2007 DMA; CNN Money Magazine 2007; Enterprise Florida; Scarborough 2007/R1 MSA; U.S. Navy SE Regional Shareholders Report. Labor force data does not include self-employment.
|Headquarters and Major Employers
Armor Holdings, Inc.
Bank of America
Blue Cross Blue Shield of Florida
Body Shops of America
Crowley Liner Service
Clay Electric Cooperative, Inc.
Fidelity National Finance, Inc.
|Landstar Systems, Inc.
St. Vincent's Health System
Note: This list is a sampling of major employers intended to represent the range of industry sectors operating throughout the region.
Florida Facts & Figures
|Gross State Product
|Total Retail Sales
Sources: Sales & Marketing Management magazine, September 2003; Global Insight Inc.; Enterprise Florida; Florida Trend magazine. Labor force data does not include self-employment. EBI=disposable income
By 2030, Florida should pass New York as the third most populous state.
Florida has no state personal income tax, a provision in the state constitution.
Florida created more than 177,000 new jobs during the 12 months ending in mid-2004, marking 28 straight months of job growth.
No place in Florida is more than 90 miles from one or more of 14 deep-water ports.
Florida land transportation includes four interstate highways, 40,000 lane-miles of state highway and nearly 3,000 miles of rail.
With $73.2 billion in 2003 trade and its multicultural population, Florida is the national leader in international commerce.
Florida hosts some 2,000 firms from other countries, including 300 regional headquarters.
Machinery exports from Florida totaled more than $7.4 billion in 2003.
Florida is the No. 3 state in dollar value of its high-tech exports and 4th in high-tech workers.
Defense-related spending (direct and indirect) accounts for $44 billion (9.8%) of Florida's GSP.
With deposits of $90 billion-plus, about 550 financial institutions — banks, S&Ls and credit unions — operate in Florida.
Florida Offers Strong Incentives to Companies
- Qualified Target Industry Tax Refund (QTI)
Provides up to $3,000 per new job created in targeted sectors or up to $6,000 in Enterprise Zones or rural areas, with additional bonuses for extremely high wages.
- Economic Development Transportation Fund
Up to $2 million per project available to eliminate transportation problems that adversely impact a company's location or expansion decision.
- High Impact Performance Incentive (HIPI)
A negotiated grant used to attract and grow major facilities in designated high-impact industry segments.
- Capital Investment Tax Credit (CITC)
An annual credit against Florida corporate income tax for projects in designated high-impact industries that make capital investments of at least $25 million and create at least 100 jobs.
- Defense/Homeland Security Industry Incentives
Among incentives are tax refunds to help Florida companies compete for new contracts, sales tax exemptions, grants to aid communities where bases are designated for closure and grants to help communities upgrade military-related infrastructure.
- Quick Response Training (QRT)
Offers customized training to secure new value-added businesses to Florida and provide existing businesses with necessary training to enable expansion.
- Enterprise Bond Program
Provides tax-exempt, low-interest bond financing ($500,000-$2,000,000) to manufacturing firms and nonprofits.
Call (850) 488-6300 or visit www.eflorida.com for more information on incentive programs available through Enterprise Florida.
Florida Offers Major Tax Advantages to Individuals and Companies
- NO state personal income tax
- NO corporate franchise tax levied on capital stock
- NO state-level ad valorem taxes
- NO tax on goods-in-transit
- Sales and use tax exemption on electricity used in manufacturing
- Sales and use tax exemption on manufacturing machinery and equipment for new and expanding businesses
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