Categories: 2014 Best & Worst States

Florida is the 2nd Best State for Business 2014

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 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.”

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

J.P. Donlon

J.P. Donlon is Editor Emeritus of Chief Executive magazine.