Florida is the epitome of growth and opportunity. With a thriving business environment, a booming population, and world-class amenities, it’s no wonder the Sunshine State continues to attract families and businesses alike. From its pristine beaches and world-famous golf courses to its 255 sunny days per year, Florida offers an unparalleled lifestyle and a dynamic economy.
Here’s a closer look at what makes Florida such a powerhouse:
Florida Fast Five
1. People
Florida leads the nation in population growth, attracting domestic and international migrants.
- Over 440,000 people moved to Florida in 2021-2022, many from high out-migration states like New York and California.
- The state saw a 1.9% population increase, becoming the fastest-growing in the U.S. during this period.
- Florida also ranked #1 for income migration, gaining $39.2 billion in 2022—a nearly fourfold advantage over second-place Texas.
Source: U.S. Census Bureau; Florida Chamber of Commerce
2. Pro-Business Environment
Florida is a haven for businesses, offering low taxes and excellent infrastructure.
- One of only nine U.S. states with no state income tax, Florida ranks as the 4th Best State for Tax Climate in 2024 and #1 on the East Coast.
- With advanced transportation systems and a strategic location, the state supports seamless trade and logistics, attracting both domestic and international businesses.
Source: CBRE Research; Tax Foundation
3. Corporate Presence
The business community in Florida is thriving with rapid growth and innovation.
- Home to 22 Fortune 500 headquarters and over 450 of the fastest-growing private companies in America (Inc. 5000 list).
- Florida added nearly 60,000 jobs in 2023, with median growth of 234% among its fastest-growing companies.
- With 670,000 new business applications in 2023, the state experienced a 70% increase compared to 2019.
Source: CBRE Research; Inc.com; WalletHub
4. Education & Talent
Florida’s commitment to education continues to bolster its talented workforce.
- Ranked the #1 State for Higher Education for eight consecutive years by U.S. News & World Report.
- Over 430,000 students are enrolled in Florida’s 12 major public universities.
- A large and diverse workforce of over 11 million people, including skilled professionals in tourism, aerospace, technology, and professional services.
Source: Florida Department of Education; U.S. News & World Report; Bureau of Labor Statistics
5. Tourism
Florida remains the ultimate travel destination, both domestically and internationally.
- In 2023, Florida was the #1 State for domestic tourism, with over 122 million visitors—a 4 million increase from 2019.
- The state ranked 2nd in international tourism, welcoming 25% of the nation’s international travelers.
Source: Florida Department of Tourism
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