Home » 2014 Best & Worst States » Florida is the 2nd Best State for Business 2014

Florida is the 2nd Best State for Business 2014

“We’ve learned from Texas how to tell our story better and it helps that we’ve cut taxes 25 times, by about $400 million,” Florida Gov. Rick Scott told Chief Executive magazine. “When companies like Hertz, Amazon, Deutsche Bank and Verizon add jobs here, it causes more people to look at us. Business is comfortable that we’ll keep the tax base low and improve our workforce.”

Previous State: Texas Next State: Tennessee

No. 2 Florida

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 2.2
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): -0.1

Unemployment

  • Unemployment Rate Dec. 2013 %: 6.2
  • Comparison with Nat’l Rate (6.70%): -0.5

Domestic Migration

  • Domestic Net Migration 2013: 91,484
  • Rank: 2

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 2,381
  • State & Local Gov’t Employees per 10k Residents: 489.5

State-Local Tax Burden

  • Rate (%): 9.3%
  • Compared to Nat’l Avg. (9.9%): -0.55%
Key Companies
  • Office Depot Inc.
  • NextEra Energy, Inc.
  • Tech Data
  • Carnival Corp.
  • CSX
  • Jabil Circuit
  • World Fuel Services
Development Trend Indicator: Positive
Machinery-tax exemption, housing boom rev up state’s job-growth engines.
CEO Comments
“California, Illinois, New York, Oregon and others do not have a viable long term strategy for achieving economic balance and therefore will only get worse. Other states such as Texas Florida and Arizona have a growing economy and reasonable rules and regulations and a positive attitude towards business. The former states are steadily declining into disaster territory such as Detroit. The other states will continue to become stronger and stronger. The difference will ultimately be similar to a productive and industrious northern Italy and a lazy unproductive southern Italy. Any attempt to force the productive states to subsidize the unproductive states will result in civil unrest.”

Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

About JP Donlon

JP Donlon
JP Donlon is the Editor-in-Chief of Chief Executive magazine.