#2 Florida


From the Governor

“Florida’s economy is strong, but we cannot rest on our laurels We have to build onour success by keeping taxes low and regulations reasonable, becoming the number one state for career and technical education and making smart investments in our infrastruc- ture and environment.” —Gov. Ron DeSantis


A Bright Economic Picture in the Sunshine State

While several economists noted in mid-2019 there was a growing chance of Florida slipping into a recession, job numbers and new residents continue to climb. The Sunshine State remains home to some of the country’s fastest-growing metro areas, and companies continue to expand and locate here. Boeing, Lockheed Martin, Kroger and Timber Resorts have all made investments in the state in the past year

Key Contacts

Enterprise Florida

Jamal Sowell
President & CEO
800 N. Magnolia Ave., Suite 1100
Orlando, FL 32803
(407) 956-5599

Key Incentives

Qualified Target Industry Tax Refund: Offers up to $3,000 per net new Florida full-time equivalent job created for companies that create high wage jobs in targeted high value-added industries.

Capital Investment Tax Credit: Offers an annual credit for up to 20 years against the corporate income tax for products in high-impact sectors such as advanced manufacturing, clean energy, biomedical technology and more. Projects must create at least 100 jobs and invest a minimum of $25 million in eligible costs.

Quick Response Training: Offers a training program to assist new value-added businesses with the necessary training for expansion through collaboration with educational facilities and reimbursable training expenses.

Incumbent Worker Training Program: Offers additional training to currently employed workers to keep the state workforce competitive in the global economy. Available to all businesses that have been in operation at least one year prior to application and require skilled upgrade trading for existing employees.

EDCs

Enterprise Florida: www.floridathefutureishere.com/access

Greater Fort Lauderdale Alliance: www.gflalliance.org

St. Petersburg Area Economic Development Corporation: stpeteedc.com

Miami-Dade Beacon Council: beaconcouncil.com

Tampa Bay Economic Development Council: tampaedc.com

Orlando Economic Partnership: orlando.org

Highlighted Program or Initiative

In August 2019, Enterprise Florida announced Export Concierge Service, a program that provides an array of services to support export opportunities for Florida-based businesses. It offers an array of services, from customized market research to business matchmaking and appointment setting with prospective partners and distributors.

Big Deals

  • Publix announced in September 2018 it will expand its headquarters in Lakeland and add 700 jobs over the next decade.
  • Timber Resorts announced in December 2018 it will open its new corporate headquarters and create 80 jobs in Winter Park.
  • Lockheed Martin announced in February 2019, the opening of its $50 million, 255,000-square-foot research and development II facility in Orlando.
  • Boeing announced in June 2019, it will relocate its space and launch division headquarters from Arlington, Virginia, to Florida’s Space Coast.
  • Lockheed Martin celebrated in July 2019 the move of its Fleet Ballistic Missile headquarters from Sunnyvale, California, to Titusville.

Big Companies

19 Fortune 500 companies are headquartered in the state, including:

World Fuel Services
Tech Data
Publix Super Markets
Jabil
AutoNation
Lennar
WellCare Health Plans
NextEra Energy
CSX
Office Depot

C-Suite Testimonials

“We are thrilled and grateful to call Titusville our new home….This region plays a prominent role in the defense industry.” —Sarah Hiza, Vice President for Fleet Ballistic Missile programs, Lockheed Martin Space

“We are very excited to join the Winter Park community….Moving our headquarters out of the Aspen area was a difficult decision, but we feel that Winter Park has a very similar spirit that our brand and employees will fit well within.” —Greg Spencer, CEO, Timbers Resorts

“Moving a manufacturing plant from New Jersey to Seminole was a huge task, but well worth it. We feel very welcome in Pinellas County We’ve hired 80
well-qualified employees in the factory and our offices. We find the weather and community very hospitable, taxes less painful and the sunsets magical. My only regret is that we didn’t move to Florida many years earlier.” —Rahul Shukla, CEO, S.S. White Technologies

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