Changing the landscape of economic development in Florida
Florida’s leadership is committed to keeping a pro-business atmosphere within the state, and has recently unburdened companies by cutting 2,800 regulations.
Business dollars go a lot further here given Florida’s limited corporate taxes and no personal income tax. Thanks to a history of responsible spending decisions and high financial reserves, Florida has earned a AAA bond rating – the highest available – while enjoying this low-tax climate. Businesses thrive in this low-tax environment, and employees enjoy the benefit of no personal income tax.
Tort reform has been a priority for Florida’s business-friendly leaders. Some of their most recent successes include the elimination of joint and several liability, rate reductions for workers compensation insurance, and class-action suit reform.
Florida understands that businesses need certainty, predictability and efficiency in government regulations. The state’s regulatory agencies and local governments provide quicker, less costly and more predictable permitting processes for significant economic development projects without reducing environmental standards.