There’s no doubt about it, Florida is a business-friendly state. From the state’s advantageous corporate tax structure to a wide-array of incentives designed to spur economic growth, there are many reasons why companies choose to do business in Florida.
FPL offers an economic development rate to companies that start-up, locate or expand in the 35 counties we serve. This discount provides additional savings that can be reinvested in the business. Here are just a few of the reasons why you should take a closer look at Florida:
- Florida’s corporate tax structure is among the best in the nation. In fact, we’ve been ranked Top 5 in the U.S. by The Tax Foundation in its Small Business Tax Climate Index since 2007.
- Our workforce is ranked No. 1 by the U.S. Chamber of Commerce.
- Florida is the No. 2 best state for business, according to Chief Executive Magazine.
- Florida ranks as the 3rd largest state for high-tech establishments (TechAmerica Cyberstates).
- Among U.S. states, Florida ranks as the 3rd largest exporter of high-tech goods and services (TechAmerica Cyberstates).
- Florida has one of the world’s most impressive mutli-modal transportation systems. In addition to an extensive highway and railway network, the system features:
- 19 commercial airports
- 15 deepwater seaports
- 3 spaceports, including the two of only 8 commercially licensed spaceports in the U.S.
- About $7 billion invested annually in R&D in Florida.
- Continuously ranked as one of the “most desirable places to live,” Florida has no personal income tax.
- Incentives for job creation, investment and training offered at the state and local community level. Visit Enterprise Florida for more details.
Special Economic Development Rate for Growing Businesses
FPL has a special discounted economic development rate that provides additional savings in addition to the company’s competitive electric rates.
- The economic development rate is available to new or expanding businesses that add a minimum of 350 kilowatt demand of new electric load and create at least 10 new jobs per 350 kilowatt demand of added load.
- Eligible customers receive declining discounts from 20 to 5 percent on their standard base energy and demand charges over four years.
- An additional incentive exists to target the re-use of existing vacant property. Eligible customers adding the required new load and jobs can receive declining discounts from 25 to 5 percent over five years.
- Companies should contact FPL’s Office of Economic Development at PoweringFlorida@FPL.com or 1-888-488-7703 to see if they qualify for the special discounted rate prior to expanding or relocating.