Cost of Doing Business

Businesses in North Florida reap the advantages of a state economy that is not only one of the biggest in the world, but also one of the best. Powered by a total population of over 23 million and generating a gross domestic product of $1.44 trillion, Florida’s economy is the 4th largest in the U.S. and the 14th largest in the world, scale that creates critical stability for business growth and planning. Florida is the #1 state in the nation for in-migration as people and businesses are flocking to a state that is only one of only seven in the nation to set personal and some business income taxes at zero.

A Top-rated State for Lower Costs, Lower Taxes.

Zero income tax is just one of the many cost benefits of Florida’s low-cost, pro-business climate that consistently earns national recognition, including recent rankings such as:

• #1 Lowest Cost of Doing Business in the U.S. (Area Development Magazine)

• #4 Best Overall Tax System in the U.S. (U.S. Tax Foundation)

• #2 Best State for Business (Chief Executive Magazine)

Also, six North Florida counties rank in the list of top 10 Florida counties offering the state’s lowest cost of living.

Affordable workforce: Right-to-work with all the right skills.

Union membership in Florida’s right-to-work labor force is only 4.7%, roughly half the national average. And in North Florida, our workforce is not only eager to work but ready to reach world-class performance standards with skills developed through an aligned talent pipeline and state and local workforce agencies that coordinate to provide custom skills acquisition at low- or no-cost through state incentives. That means higher performance at significantly lower costs.

Lower operational costs.

The region’s business environment also nurtures growth through advantages like affordable acreage, multimodal transportation that delivers choice and flexibility, and leading electrical providers that serve as true business partners to area enterprise.

Targeted incentives that facilitate faster ROI.

Whether it’s helping business staff up with Quick Response Training (QRT) or scale down operational costs through a generous array of tax exemptions and credits, North Central Florida is ready to enhance productivity and speed return on investment.