July 2, 2020
Wednesday, September 17, 2014
Nationally recognized for its competitive tax rates, global access, top-ranked workforce and tremendous diversity, Florida is an ideal location for corporate headquarters. More than 2,600 corporations have headquarters operations in Florida, thanks to an infrastructure that includes state-of-the-art telecommunications networks, 19 commercial service airports that provide global access and a wide array of available Class A office space.
As a right-to-work state with zero personal income tax and low corporate tax rates, Florida offers businesses a pro-growth business climate with fewer roadblocks and governmental regulations. And with a culturally diverse workforce of 9 million and more than 170 universities, colleges and technical institutes located throughout the state, Florida provides its companies a highly-skilled workforce and abundant opportunities for training.
Because of its prime geographic position in the Southeast and its close proximity to the Caribbean and Latin America, Florida is the chosen location of 300 regional and hemispheric headquarters. With the large concentration of corporate and financial resources available to businesses, many international firms base their warehousing, distribution and manufacturing operations in Florida to take advantage of the easy access to global markets.
In recent years, several companies have chosen to locate in Florida in order to access Latin American markets. Emerson, a global manufacturing and technology company, selected Sunrise as the location for its Latin American regional headquarters because the South Florida region offered direct air travel, close proximity to other Latin American businesses as well as a Spanish-speaking workforce.
Since 2013, 21 companies have announced locations, relocations or expansions of corporate headquarters in Florida, accounting for nearly 3000 jobs and more than $209 million in capital investment. Some of the larger projects include United States Tennis Association (USTA), Universa Investments, Stonegate Mortgage, Cancer Treatment Centers of America, Golf Channel, Prolexic Technologies, Hertz, Brinks and Bank of America Regional Headquarters.
There are currently 16 Fortune 500 companies located in Florida. One of the newest companies to be added to that list is Hertz. The international rental car giant chose to relocate its corporate headquarters from New Jersey to Estero for its close proximity to travel destinations and also for the ability to draw from a talent pool of 1 million tourism industry employees. The Hertz headquarters will bring 700 jobs and more than $68 million in capital to Lee County.
“We did not make the decision to relocate lightly. We wanted to know that Florida was not only attractive to us as a company but also for our employees. Florida is a great place to run a business and raise a family and we are proud to be able to call this our new home,” said Mark P. Frissora, chairman and CEO of the Hertz Corporation.
Florida’s tax advantages, combined with a well-developed infrastructure, competitive business environment, access to international trade and skilled workforce, allow the state to consistently rank as one of the best in the nation for business.