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Florida

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Overview

Florida (Spanish for "land of flowers") is a state located in the southeastern region of the United States. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia, to the east by the Atlantic Ocean, and to the south by the Straits of Florida and Cuba. Florida is the 22nd-most extensive, the 3rd-most populous,[9] and the 8th-most densely populated of the U.S. states. Jacksonville is the most populous municipality in the state and is the largest city by area in the contiguous United States. The Miami metropolitan area is Florida's most populous urban area. The city of Tallahassee is the state capital.

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EDO Spotlight

Regional Marketplace Florida (Coming Soon)
EDO Website Enterprise Florida
SelectUSA Contact Fred Johnson

Companies

Projects

Incentives

Economic Development Transportation Fund "Road Fund" Grants

The Economic Development Transportation Fund, commonly referred to as the “Road Fund,” is an incentive tool designed to alleviate transportation problems that adversely impact a specific company’s location or expansion decision. The award amount is based on the number of new and retained jobs and the eligible transportation project costs, up to $3 million. The award is made to the local government on behalf of a specific business for public transportation improvements.

High Impact Performance Incentive (HIPI) Grants

The High Impact Performance Incentive is a negotiated grant used to attract and grow major high impact facilities in Florida. Grants are provided to pre-approved applicants in certain high-impact sectors designated by the Florida Department of Economic Opportunity (DEO).

Incumbent Worker Training Program (IWT) Job Training

This program offers job training to currently employed workers. Businesses may receive reimbursable grants that cover up to 50% of training expenses. The reimbursement percentage is increased to 75% of training expenses for smaller businesses located in economically distressed areas.

Quick Response Training Job Training

This program offers discretionary training grants to businesses in Florida’s targeted industries that create net new jobs with wages that are at least 125% of the state or county average wage, whichever is less. Qualified businesses partner with state colleges and universities to develop training programs that are flexible and customized.

Rural Incentives Low Interest Financing

Florida encourages growth throughout the state by offering increased incentive awards and lower wage qualification thresholds in its rural counties. Additionally, a Rural Community Development Revolving Loan Fund and Rural Infrastructure Fund exist to meet the special needs that businesses encounter in rural counties.

Urban Incentives Low Interest Financing

Florida offers increased incentive awards and lower wage qualification thresholds for businesses locating in many urban core/inner city areas that are experiencing conditions affecting the economic viability of the community and hampering the self-sufficiency of the residents.

Capital Investment Tax Credit (CITC) Tax Credits

Businesses that operate within one of Florida’s high-impact industry sectors that make a capital investment of at least $25 million and create a minimum of 100 jobs may receive corporate income tax credits. The credits, which may be valued up to 100% of the eligible capital costs of the project, are issued in annual installments over a 20-year period

Brownfield Incentives Tax Refund

Florida offers incentives to businesses that locate on a brownfield site with a Brownfield Site Rehabilitation Agreement (BSRA). The Brownfield Redevelopment Bonus Refund is available to encourage Brownfield redevelopment and job creation. Approved applicants receive tax refunds of up to $2,500 for each job created.

Qualified Defense and Space Contractor Refund (QDSC) Tax Refund

Defense, space, and homeland security-related businesses may receive a tax refund of up to $3,000 per net new full-time equivalent job created or retained ($6,000 if a business is located in a rural county). Bonus awards are available for projects that meet certain location, industry and average wage criteria.

Qualified Target Industry Refund (QTI) Tax Refund

The Qualified Target Industry Tax Refund incentive is available for companies that create high wage jobs in targeted high value-added industries. This incentive includes refunds on corporate income, sales, ad valorem, intangible personal property, insurance premium, and certain other taxes.

Relevant Links

6

fdi rank

266,500

fdi jobs

3.9%

of total private employment from fdi

1,180

global employers

13.3%

5 year growth in fdi employment

9.5%

5 year growth in private sector employment

FDI Employment by Industry

FDI Employment by Country

29,208,513,551

exports ($)

56,841,254,201

imports ($)

34

state-local tax burden rank

Census Data

Population
Population estimates, July 1, 2016, (V2016)20,612,439
Population estimates base, April 1, 2010, (V2016)18,804,592
Population, percent change - April 1, 2010 (estimates base) to July 1, 2016, (V2016)9.60
Population, Census, April 1, 201018,801,310
Age and Sex
Persons under 5 years, percent, April 1, 20105.70
Persons under 18 years, percent, April 1, 201021.30
Persons 65 years and over, percent, April 1, 201017.30
Female persons, percent, April 1, 201051.10
Race and Hispanic Origin
White alone, percent, April 1, 201075.00
Black or African American alone, percent, April 1, 201016.00
American Indian and Alaska Native alone, percent, April 1, 20100.40
Asian alone, percent, April 1, 20102.40
Native Hawaiian and Other Pacific Islander alone, percent, April 1, 20100.10
Two or More Races, percent, April 1, 20102.50
Hispanic or Latino, percent, April 1, 2010 (b)22.50
White alone, not Hispanic or Latino, percent, April 1, 201057.90
Population Characteristics
Veterans, 2011-20151,507,738
Foreign born persons, percent, 2011-201519.70
Housing
Housing units, April 1, 20108,989,580
Owner-occupied housing unit rate, 2011-201565.30
Median value of owner-occupied housing units, 2011-2015159,000
Median selected monthly owner costs -with a mortgage, 2011-20151,435
Median selected monthly owner costs -without a mortgage, 2011-2015463
Median gross rent, 2011-20151,002
Families and Living Arrangements
Households, 2011-20157,300,494
Persons per household, 2011-2015263.00
Living in same house 1 year ago, percent of persons age 1 year+, 2011-201583.80
Language other than English spoken at home, percent of persons age 5 years+, 2011-201528.10
Education
High school graduate or higher, percent of persons age 25 years+, 2011-201586.90
Bachelor's degree or higher, percent of persons age 25 years+, 2011-201527.30
Health
With a disability, under age 65 years, percent, 2011-20158.50
Persons without health insurance, under age 65 years, percent16.20
Economy
In civilian labor force, total, percent of population age 16 years+, 2011-201558.80
In civilian labor force, female, percent of population age 16 years+, 2011-201554.70
Total accommodation and food services sales, 2012 ($1,000) (c)49,817,925
Total health care and social assistance receipts/revenue, 2012 ($1,000) (c)124,061,425
Total manufacturers shipments, 2012 ($1,000) (c)96,924,106
Total merchant wholesaler sales, 2012 ($1,000) (c)252,626,608
Total retail sales, 2012 ($1,000) (c)273,867,145
Total retail sales per capita, 2012 (c)14,177
Transportation
Mean travel time to work (minutes), workers age 16 years+, 2011-201526
Income and Poverty
Median household income (in 2015 dollars), 2011-201547,507
Per capita income in past 12 months (in 2015 dollars), 2011-201526,829
Persons in poverty, percent15.70
Businesses
All firms, 20122,100,187
Men-owned firms, 20121,084,885
Women-owned firms, 2012807,817
Minority-owned firms, 2012926,112
Nonminority-owned firms, 2012926,112
Veteran-owned firms, 2012185,756
Nonveteran-owned firms, 20121,846,686
Geography
Population per square mile, 2010351
Land area in square miles, 201053,625