In Florida, business and government leaders work together to create an environment in which business and industry thrive. It is an environment that is particularly friendly for entrepreneurs.
In Florida, land and construction costs are reasonable, taxes are stable and a wide variety of incentives are available to new and expanding businesses. Property, high-tech talent and the cost of doing business are more affordable in Florida than in most states including California, Massachusetts, or Minnesota.
In addition to these attributes, the lifestyle in Florida is the envy of the world. It is a state of exceptional beauty including environmentally significant lands, magnificent beaches, and a rich history. Housing is affordable in Florida and there is no state income tax.
- Florida’s economy is the eighth largest in the Western Hemisphere
- Florida’s economy is the 15th largest in the world
- Florida has 14 hospitals listed among America’s Best Hospitals
- Florida ranks 2nd in the nation on TechNet Broadband Index
- Florida’s 4th graders are ranked 8th in the nation
- Florida’s economy grew fastest among the ten largest states
- Florida is the 9th top job-creating state
- Florida’s Embry-Riddle Aeronautical University ranked #1 for related engineering
- Florida has positive job market growth
- Florida’s tax system is ranked 7th nationally among business-friendly states
- Florida had eight cities among Intel’s list of 100 best for wireless accessibility.
Florida’s stable economy and highly favorable tax climate enhance its position as a profitable location for business and industry. Incentives for which a particular business may qualify include but are not limited to the following.
Targeted Industry Incentives
- Qualified Target Industry Tax Refund, up to $6,000 per qualifying new job created.
- High Impact Performance Incentive Grant, for pre-determined high-impact facilities.
- Qualified Defense Contractor Tax Refund, up to $5,000 per new qualified job created.
- Capital Investment Tax Credit, annual tax credit for up to 20 years for qualifying projects.
- Quick Response Training Incentives, customized training for qualifying projects.
- Incumbent Worker Training Program, new skills training for qualifying existing employees.
Road Infrastructure Incentive
- Economic Development Transportation Fund, up to $2 million for qualifying road projects.
- Special Opportunity Incentives
- Permit Streamlining, expedited permit review process for high impact companies.
- Volusia County Department of Economic Development assists the city in marshaling resources as needed for incoming qualified businesses; incentives for financial resources may be available for qualified projects.
- Ad Valorem Tax Abatement, real estate and personal property tax abatement for qualified businesses.
- No Corporate income tax on limited partnerships
- No corporate income tax on Subchapter S Corporations
- No state personal income tax guaranteed by the Florida Constitution
- No corporate franchise tax on capital stock
- No state-level property tax
- No property tax on business inventories
- No property tax on goods-in-transit for up to 180 days
- No sales and use tax on Florida goods produced for export
- No sales tax on the purchase of raw materials for specified qualifying uses
- No sales/use tax on boiler fuels
- No sales/use tax on co-generation of electricity
Florida State Licensing Agencies
Many businesses and professions in Florida require a state license. The following list includes many of the most common licenses. Because new requirements are added periodically, it’s important to check with your industry trade group for the most recent information. Or, to locate the appropriate agency with jurisdiction over your industry, check with the state telephone operator (850/488-1234) or on the web at www.myflorida.com click on 411.
Department of Business and Professional Regulation
850/487-2252 or 850/487-1395
Certified Public Accounting
Architecture and Interior Design
Athlete Agents, Talent Agents
Community Association Managers
Alarm Systems Contractors Electrical Contractors
Employee Leasing, Industrial Hygienists
Funeral Directors and Embalmers
Professional Surveyors and Mappers
Real Estate Appraisers
Acupuncture, Medicine, Dentistry, Electrolysis, Midwifery, Physical Therapy, Dietetics and Nutrition, Occupational Therapy, Respiratory Care, Chiropractic, Hearing Aid Specialists, Optometry, Podiatry, Clinical Social Work, Marriage and Family Therapy and Mental Health Counseling, Massage Therapy, Orthotists & Prosthetists, Athletic Training, Opticianry, Dental Laboratories, Pharmacy, Naturopaths, Speech-Language Pathology, and Audiology, Clinical Laboratory Personnel, Psychology and Nursing.
Nursing Homes and Long-Term Care
Home Health Care
Adult Congregate Living Facilities
Games Promotions, Private Investigative Agencies, Unarmed/Armed Guards
Check Cashing Services
Motor Vehicle Repair, Telemarketing, Travel Agents, Health and Exercise Clubs
850/488-2221 or 800/435-7352 (in Florida)
Day Care Centers
Volusia County (District 12)
Bail Bondsmen and Runners Insurance Companies, Pre-Paid Legal Plans
Security Broker, Certified Capital Companies
Home Improvement Finance, Retail Installment Sales, Mortgage Broker