Buy Real Estate in Florida, the Third Best State for Business

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Real Estate

Nurture your business dreams by buying real estate in Florida, cited by more than 500 CEOS across the U.S. as the third best state for business.  Florida moved up from its sixth ranking in 2010 to third place this year in the 2011 Chief Executive Group LLC survey, so there must be a surge in good things for businesspeople and companies in the state.

Florida was cited by a lot of CEOs because of its business-friendly policies. It got high scores in the factors used to rank the states:

3rd in net inward migration

Florida gained two congressional seats as a result of the rise in number of people who migrated to the state. In the 2010 census, Florida’s population surged to 18.8 million, an increase of 17.6 percent from 15.98 million in the year 2000.

10th in living environment or quality of life

Florida is renowned for its family-friendly and resort-like communities, beaches, pleasant weather, warm winters, unique theme parks, crystal-clear lakes and other amenities that make life more enjoyable.

Additionally, Florida has adequate number of hospitals, elementary and secondary schools, colleges and universities.

13th in taxation and regulation

Florida doesn’t collect state income tax. Its local tax and other tax rates are also lower than those of other states. As a result, Tax Freedom Day comes to Florida residents much earlier than other states’ residents.
Its corporate tax rate is only 5.5 percent.

Workforce quality

More than 85 percent of the state’s workforce are high school graduates or have attained some college education and nearly 26 percent are college graduates or have some postgraduate credits. Nine percent have post-graduate degrees or higher levels of education and training. With this quality of workforce, it’s no wonder that the ratio of patents to 100,000 workers is 16.06.

Corporations face less risks of being hampered by disturbances as only 6.9 percent of the workforce are members of unions.

The major corporations operating in Florida are the following:

• Carnival Corp.
• CSX
• Jabil Circuit
• NextEra Energy Inc.
• Office Depot Inc.
• Tech Data
• Verizon Wireless
• World Fuel Services

In addition, Florida’s public debt is also much lower than those of other states as it’s 40th in the amount of state debt per capita. The public debt per resident is $2,104, less than one-fifth of that of Massachusetts, which is $11,357.

Businesspeople looking for residential or commercial real estate in Tampa are encouraged to contact the real estate professionals of Tampa4U.com.