The city has received a historic notice from the Florida Department of Transportation to begin work on the $6.9 million airport terminal at the DeFuniak Springs Municipal Airport at 1931 U.S. Highway 90 W.
The Florida Difference
Although it is known as the Sunshine State, Florida could just as easily be called the business-friendly state. From Florida's advantageous corporate tax structure and a wide array of incentives designed to spur economic growth to a competitive workforce and outstanding infrastructure, it's clear Florida is a great location for your business. See what draws more than 2.1 million businesses to Florida.
Florida's Business Climate is Just Right
Florida is consistently one of the fastest growing states in the nation. What's driving people and businesses to move to Florida? The Sunshine State offers a world-class business climate, highly competitive rates and incentives, and unparalleled opportunities for economic development.
Logistics and Distribution
Florida's infrastructure was built to serve our 21 million residents — and 100 million annual visitors. With 15 deepwater seaports and 19 commercial service airports, Florida can get your products across the country and overseas quickly.
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Palm Beach County is buzzing with new investments as 140 companies relocated or expanded to Palm Beach County with the Business Development Board’s assistance over the past five years. These companies brought $1.12 billion in capital investment and 13,110 direct jobs created/retained for local residents.
Florida isn’t often thought of as a manufacturing hub, much less a high-tech medical manufacturing Mecca. A new report counters that belief, showing Florida is a major player nationally in making health care devices and related work.
A new Amazon fulfillment center is coming to Daytona Beach and city leaders said it’ll bring 1,000 jobs with it. The 2.8 million square foot, five-story complex will be built on a 211-acre field right across the street from the airport on Beville Road.
FedEx plans to build a new distribution center in Panama City to service the region from Pensacola to Tallahassee, economic developers announced on Tuesday. According to the Bay County Economic Development Alliance, the new 251,000-square-foot FedEx Ground facility will support 208 jobs and will be built in the Port Panama City-owned Intermodal Distribution Center on Highway 231. Construction has begun and the facility is set to open in the fall.
The Jacksonville Port Authority (JAXPORT) has maintained berth and terminal fluidity—and set a new container volume record—amid global supply chain disruption. This success is due in large part to the efficiencies of JAXPORT’s facilities, labor, and service providers, combined with the port’s strategic location within fast reach of 98 million U.S. consumers.
Business diversity and a strong commitment to customer service distinguishes Port Everglades from most U.S. seaports. With its proximity to the popular Caribbean, Port Everglades is the third busiest cruise homeport in the world. It is a leading container port in Florida and among the most active cargo ports in the United States. Port Everglades is also South Florida’s main seaport for receiving energy products, including gasoline and jet fuel. Port customers benefit from state-of-the-art foreign-trade zone warehousing and a 43-acre international and domestic intermodal container transfer facility that makes it possible for cargo shipped to Port Everglades to reach Atlanta and Charlotte within two days, and 70 percent of the U.S. population in four days.
The Kroger Co. is moving forward with its leading-edge automated warehouse concept known as a customer fulfillment center (CFC). Introduced in partnership with U.K.-based online grocer Ocado in Monroe, Ohio in April 2021, the second CFC location is now operational in Groveland, Florida (part of the greater Orlando metro area).
The Florida-based company that makes those famous tumblers is expanding. Tervis announced Thursday they will open a new fulfillment center in North Port. It’s sent to open late summer of next year. Their headquarters will remain in North Venice.
Royal Caribbean's Terminal A joins Carnival Cruise Line's new Terminal F to become shore-powerready at PortMiami by fall 2023. 'Our efforts to make PortMiami shore power ready are moving full steam ahead thanks to the incredible work of the PortMiami team, [Florida Power and Light] and the commitment of Carnival Cruise Line and Royal Caribbean Group,' Miami-Dade County Mayor Daniella Levine Cava said.
The Business Development Board of Palm Beach County (BDB) is pleased to announce the opening of Percepto, the leading autonomous inspection and monitoring solution provider, revolutionizing how industrial sites monitor and inspect their critical infrastructure and assets. The company, with roots in Israel, will occupy an 11,000 sq. ft. building located at 7201 Haverhill Business Parkway, Riviera Beach, FL, and estimates 100 new high wage jobs with several million dollars of capital investment planned. Introduced by Florida Power & Light Company’s Office of Economic Development (FPL), the Business Development Board helped Percepto with site location searches, permitting assistance, and local connections. Bill Reichel of Reichel Realty & Investments, Inc., who is a BDB member, handled the real estate transaction.
Today, Governor DeSantis announced Terran Orbital’s decision to choose Merritt Island for construction of its Commercial Spacecraft and Constellation Facility, bringing valuable spacecraft manufacturing opportunities and capabilities to the State of Florida by investing more than $300 million in new construction and equipment. This will be the largest satellite manufacturing facility in the world. The project is expected to create approximately 2,100 new jobs with an estimated annual average wage of $84,000 by late 2025.
The world of space exploration has changed markedly since the heyday of the Space Shuttle, but one element remains unchanged: Florida’s commitment to remaining at the cutting edge of space innovation and investment.
Today, Lt. Governor Jeanette Nuñez, the Florida Department of Transportation (FDOT), Space Florida, and NASA hosted a groundbreaking ceremony for the new NASA Causeway Bridge, a $126 million project to build two high-level fixed bridges over the Indian River, providing a new gateway to Kennedy Space Center and Cape Canaveral Space Force Station. “Since taking office, our administration has prioritized investment in transportation infrastructure that will enhance access to Cape Canaveral and advance Florida’s position as a leader in space,” said Lieutenant Governor Jeanette Nuñez.
Dan Robinson, a soft-spoken native of northeast England, chats in a Miami Beach coffee house, his dog at his feet. Meanwhile in California, representatives of the U.S. Air Force test a video game-like technology his company is developing to answer America’s military pilot predicament. The nation is short of pilots — by about 2,000 for the Air Force in recent years. It misses the mark in readiness. Training is expensive. “Accelerate change or lose,” Air Force Chief of Staff Gen. Charles Q. Brown Jr. said in 2020 directive to the service.
While SpaceX and United Launch Alliance have been sending rockets up at an increased pace the past several years, the Space Coast is about to get much busier with more commercial rocket companies set to join the launch party.
Space Perspective, the world’s leading luxury spaceflight experience company, today announced that it has selected Florida’s Space Coast Spaceport in Titusville, Florida as the location for the company’s worldwide campus and manufacturing complex. Space Perspective will invest more than $38 million in new construction and high-value equipment and tooling, including the $9 million, 120,000 square foot manufacturing building slated to be fully operational within the next 24 months. The investment will also spur the creation of approximately 240 full-time permanent jobs by the end of 2026, with an annual average wage of $80,000, plus benefits.
The $210 million project will bring three additional hangars for ST Engineering's aircraft maintenance, repair and overhaul facility in Pensacola. The project also will add administrative office space to two of the new hangars.
The state of Florida added more tech companies than any other state in the nation in 2021, according to a new report published by CompTIA, a top trade associate of the IT sector. Driven by rising prices and unfavorable tax regulations, tech companies flocked to The Sunshine State, landing in cities like Miami, Orlando, and Jacksonville. According to the report, Florida added 2,715 tech businesses last year, placing ahead of previously known tech hubs like California and North Carolina.
The venture makes mobile data mining centers for the mining of Bitcoin and other digital currencies.
Miami has always showcased its diverse culture and nightlife. With beaches and bars and beautiful people galore, the ‘capital of Latin America’ is a well-established destination to let loose and have fun. While this reputation has made Miami rich, generating over $1.5bn in tourism tax annually, the city – and South Florida more widely – has traditionally felt a long distance, both physically and culturally, from the tech hubs found on the Pacific west coast. However, with the pandemic disrupting traditional enterprise models, Miami is suddenly the buzz location for tech investment. Over the past 18 months, hundreds of companies, from cryptocurrency to digital marketing, have set up shop. Last year, the city witnessed more than $970m in venture funding, up from just $135m in 2016.
Miami beat out rivals like New York City and Austin, Texas on Forbes' new ranking of emerging technology hubs in the U.S. The one metro it couldn't surpass? Tampa.
Spectrum's trust and safety platform uses AI to detect toxic online behaviors.
The cryptocurrency craze continues as American cities are now racing for the title of "crypto capital." Miami is leading the way to becoming the central hub with different initiatives involving residents while forging the way with the first CityCoin. Miamicoin, generated by CityCoins, will result in yield for all Miami residents, allowing people to invest in the city by purchasing tokens.
2021 was a banner year for South Florida's tech sector. Miami-area startups not only attracted record venture capital investments this year; The region also became a hub for the emerging cryptocurrency industry and saw homegrown companies like Papa reach unicorn status with billion-dollar-plus valuations.
During a virtual event Wednesday where the Southern Alliance for Clean Energy (SACE), a regional nonprofit focused on the transition to clean energy, shared details on their fourth annual “Solar in the Southeast” report, lead author and SACE’s Solar Program Director Bryan Jacob announced that the Sunshine State had surpassed North Carolina to become the region’s “solar leader.”
FPL unveiled the battery at its Manatee Solar Energy Center Monday. It’s “the world’s largest battery when measured by generating output and the world’s largest solar-powered battery when measured by both total output and capacity per hour,” according to the company. The battery is measured at 409 megawatts and 900 megawatt hours. That gives it the power of 100 million iPhone batteries and allows it to power nearly 330,000 homes for more than two hours.
Destin, Florida’s Hurlburt Field will undergo a comprehensive energy infrastructure upgrade. The project, led by Schneider Electric, will modernize infrastructure that supports critical power supply and grid stability needs at the base, which is home to the US Air Force’s Special Operations Command (HQ AFSOC). Through the $22.6 million Energy Savings Performance Contract (ESPC) with Schneider Electric, the project will reduce Hurlburt Field’s energy costs by 17.7% – resulting in $1.5 million in savings annually over the 22-year contract term for the US Defense Department (DoD).
Manufacturing output in Florida has grown nearly 60% in the past decade from $37 billion to $59 billion, according to the National Association of Manufacturers.
Site Selection Group, a full-service location advisory, economic incentives, and real estate services firm, utilizes a variety of innovative tools and analyses to help its clients evaluate locations for manufacturing investment. Florida ranks fifth in overall index score.
A new WalletHub study examining the quality of colleges and universities in the United States showed almost 20 percent of the best colleges in the South are in Florida.
LinkedIn’s State of Entrepreneurship report offers a portrait of this generation of budding businesses, highlighting the people, industries and cities at the heart of these new enterprises. “The southwest Florida region has really exploded in the last 24 months,” he said. “With more entrepreneurs and more consumers coming to the area, it has opened our doors to more opportunities.” The greater Tampa Bay area is No. 3 on LinkedIn’s fastest-growing metropolitan areas for entrepreneurs with two other Sunshine State locales — Orlando and Miami-Fort Lauderdale — claiming the first and second slots.
Florida’s State Universities earn top marks in U.S. News & World Report public university rankings. The University of Florida rose one spot and is now the No. 5 public university in the country, advancing a record nine spots on the Top 25 list since 2017. Florida has three public universities in the Top 50, second-most in the nation – one university in the Top 5, another in the Top 20, with Florida State University ranked at No. 19 and in the Top 20 for the third year in a row. The University of South Florida fills out the Top 50 for the third consecutive year, coming in at No. 46.
Port Panama City USA is a growing regional Port located in Bay County, Florida. The Port provides terminal handling services for a diverse portfolio of customers and commodities at its two, deep-water marine terminal facilities, and Intermodal Distribution Center. at No. 46.
A new nearly one million-square-foot industrial space is in the works next to a Brevard County spaceport. It’s the start of a project that will include the development of 917,099 square feet of industrial space spread across nine buildings next to Space Coast Regional Airport and Space Coast Air & Spaceport.
City Manager Mark McQueen said it’s been like the tale of two cities between the original part of Panama City and the northern part. That is until now, as the area is growing with development.
Revitalizing the Endeavor Property in Marianna and putting the more than 500 acres to use is important to local officials. They are using it to bring more than 50 new jobs to the area.
The Bay Economic Development Alliance announced that Mocama Marine LLC will be establishing manufacturing operations in Bay County that will include the purchase of the former “Century Boat” property in the original Bay County Industrial Park off of Hwy. 231.
One Okaloosa EDC announced today that Gulf Air Group, Inc. has selected Crestview’s Bob Sikes Airport for a competitive expansion project. The anticipated $16,000,000 investment will be applied toward the construction and equipping of a new, state-of-the-art aircraft hangar complex totaling 70,000 SF.
CEO Sam Bankman-Fried announced the company will move its U.S. headquarters to Miami in a tweet posted Tuesday afternoon. The change comes only months after FTX.US officially opened a 9,000 square-foot office in the Windy City to house its U.S. base.
The Business Development Board, Palm Beach County’s official economic development organization, is pleased to announce the relocation of KruseComfrom New Jersey to West Palm Beach. The company will create 30 jobs with an average salary of $80,000.
This week, business and community leaders in Northwest Florida celebrated the newest manufacturer to join our growing family – Central Moloney Inc. (CMI). CMI is locating in an existing 140,000 sq. ft. state-of-the-art manufacturing facility in VentureCrossings Enterprise Center in Panama City, Florida.
Based on polling of nearly 700 CEOs and business owners, the Lone Star State placed No. 1 again, Florida No. 2. But will changing politics change the game?
In order to help aspiring entrepreneurs — from restaurant owners to high-tech movers and shakers — maximize their chances for long-term prosperity in the wake of the COVID-19 pandemic, WalletHub compared the relative startup opportunities that exist in 100 U.S. cities. Orlando ranked first and Miami second, with Jacksonville and Tampa also included in the Top 10.
How do taxes in your state compare regionally and nationally? Facts and Figures, a resource we’ve provided to U.S. taxpayers and legislators since 1941, serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
The company last year announced it was establishing its headquarters in Titusville.
Grover, the electronics rental marketplace, has joined a cavalcade of tech firms descending on Miami to base its US operations. The German company, which raised $1 billion last summer, opened its US headquarters in the city this week, just a few months after launching operations in the US. The Florida city has emerged as a destination of choice for many start-ups and entrepreneurs, eschewing the well-worm environs of Silicon Valley, including European start-ups looking for their US base of operations.
Florida Power & Light Company (FPL) today graduates 11 entrepreneurs in six startup companies from 35 Mules – the first-ever in-house innovation hub powered by a global energy leader. The incubator is located at FPL’s Juno Beach headquarters, where the six startups have worked on their ventures since September 2020. During the 15-month program, the startups have raised a total of $13.5 million in grant funding and venture capital, developed minimum viable products, full-scale pilot programs and expanded their teams.
Florida ranks in the top 25 places to conduct business, according to a new survey.
The Princeton Review and Entrepreneur have again partnered to rank the top programs for studying entrepreneurship as an undergraduate. Florida State University ranks 19th overall (#2 Southeast) followed by Florida Gulf Coast University (#22 Overall, #3 Southeast), The University of Tampa (#27 Overall, #5 Southeast), Florida International University (#42 Overall, #7 Southeast), and Florida Atlantic University (#47 Overall, #9 Southeast).
A roundup of a few of the financial firms that have joined the migration to South Florida.