Despite the fact that there has been an influx of companies in the state, office rents have remained extremely low. Florida has affordable office and industrial rentals throughout the state. Companies could save millions by moving their corporate spaces to Florida. It's no secret that Florida is home to some of the best climates in the U.S.
UU. With New Remote Work Policies Freeing Employees to Work Where They Want, Many Choose Florida's Warm Temperatures and Sunny Skies. The state also has some of the best restaurants, cultural attractions and overall quality of life in the country. Not to mention its pristine beaches.
One of the main drivers of the influx in recent months has been that the state managed to reopen businesses before other large shopping malls while managing the COVID-19 crisis. Florida's education system has also improved tremendously, and investments in the state's infrastructure over the past few decades have created an environment built for the future. While the COVID-19 pandemic may have served as a catalyst for some businesses to move to Florida today, the momentum behind this movement has been building up for years. As Suárez pointed out, Miami is an international city today due to decades of families who left troubled countries in Latin America and the Caribbean to build their homes in Miami.
This diversity is one more reason why companies seek the Sunshine State. The confluence of Florida's smart tax structure, the welcoming attitude of public officials, the high quality of life, and a bright future will likely make businesses come to the state for many years to come. Businesses are still coming to South Florida, regardless, or possibly due to the COVID-19 pandemic, a new outbreak of inflation and now, a world-shaking war in Eastern Europe. The move is another example of the flood of companies heading to the Sunshine State, and a continuation of strong numbers that show Florida a national leader during the pandemic in attracting new businesses or becoming a home for new businesses.
Bob Swindell, president and chief executive officer of the Greater Fort Lauderdale Alliance, the economic development division of Broward County, said out-of-town businesses are looking for lifestyle benefits they might not find in northern cities. He mentioned a financial services firm that was in town last week looking for a possible location in Fort Lauderdale. A company executive who already lives in the area talked about schools, available staff, talent, lifestyle and fiscal climate among his colleagues. Kelly Smallridge, President and CEO of the Palm Beach County Business Development Board, said the state provides businesses with more clarity on the regulatory environment they face.
She said many companies perform full comparative analysis of how their current locations match potential landing points in Florida. Factors include taxes, the cost of labor, housing and transportation, and their ability to attract the workforce with the right skills. Legions of northerners flocked to Florida as visitors, new homebuyers, and short-term new business operators, once it became known that residents and customers could roam the streets and neighborhoods and even eat outside amid limited or no restrictions. Many chose Florida as a great fresh air haven with its beaches and open green spaces, even though its urban areas have become more densely populated over the years.
But Kingsley said the state already had momentum toward developing new businesses, with an estimated 1,000 people moving south daily before the pandemic. Many of the businesses he advises are those that went dark during the pandemic and are now run by people with fresh investment money. High demand reflected in rising liquor license prices. This week, Miami businessman Sergio Aguirre announced that he will open his first location for a laundry pick-up and delivery business franchised by Mr Jeff in Coral Gables.
The company now operates in 30 countries. Customers place an order through a proprietary application to have their clothes picked up at home, with the promise that their clean clothes will be returned within 48 hours. Aguirre, who came across the idea while living in Mexico, hopes to expand to Tampa, Orlando and Jacksonville. As the economy recovers from the global COVID-19 pandemic, the Florida Chamber of Commerce is encouraging employers to move to Florida with its new “Open for Business” campaign.
Recent trends show that major employers and corporations are considering relocating employees and operations from high-cost states such as New York and California to high-value locations with a low cost of living. Florida is a prime location to consider with its competitive offerings and business-friendly and employment-friendly climate. Florida has NO state income taxes and ranks fourth in the country for its business tax climate. Unlike New York, Illinois and California, Florida currently ranks second in the country for fiscal stability, resulting in an AAA bond rating.
Florida is known for its excellent climate, recreation and culture, while offering an affordable cost of living. Say goodbye to cold winters; Sarasota's average temperature in January is 71 degrees. Due to different tax structures and other considerations that have long-term impacts, businesses and individuals planning to move should seek competent legal advice. Tech companies are moving to Florida en masse thanks to this influx of talent, the state-first business mindset, and the absence of state income taxes.
The most demanding business leaders are also beginning to reflect on their business needs, and many are taking note of the nearly 900 people who move to Florida every day. Rodríguez in a webinar to discuss this current trend and why more companies should consider moving part of their operations to the Estado del Sol. According to Bush, this mentality and approach is in stark contrast to those of other mayors and public officials in the city who have “taken for granted some of the big companies in their areas, which has led many companies to consider changing locations. NewDay USA, a mortgage lender targeting military veterans, will move 600 employees into the building when it opens its second U.
From a business-friendly climate to superior infrastructure and a skilled workforce, it's no wonder why companies are expanding in Florida. You don't have to be in Florida to work in New York, and hey, a lot of New Yorkers already have family in Florida, so moving to Florida isn't as drastic or as unknown as moving to any other state. About a decade ago, Kelly Smallridge and her colleagues from the Business Development Board, the economic development agency of Palm Beach County, launched an initiative called Behind the Gates to try to attract Wall Street CEOs with second homes in Palm Beach to open offices in the area. More companies moving to Florida will facilitate the movement of even more businesses moving to Florida.
Florida represents the right mix of conditions that are attractive to business leaders looking to move. American Queen Voyages, known for its paddlewheel style ships and river, lake and ocean cruises, decided to move its headquarters to Fort Lauderdale from Indiana. . .