Executive Magazine Ranks Florida #2 Best State For Business

Executive Magazine Ranks Florida #2 Best State For Business

More than 500 CEOs surveyed by Chief Executive Magazine agree that businesses flourish in the state's entrepreneurial climate.

High-profile deals like the one that’s bringing General Electric to Jacksonville are helping build Florida’s reputation as a go-to place for business development.

The Sunshine State came was given second-place ranking as the “Best State for Business”, second only to Texas, by Chief Executive Magazine, which surveyed more than 500 CEOs from across the U.S. based on a range of measures, from strength of workforce to taxation and regulatory climate to quality of life. Florida ranked first place for living environment in the same survey.

According to the rankings, Florida is on an upward trend with industrial development — like GE’s opening of a manufacturing plant within Jacksonville’s Cecil Center, which will bring 500 new jobs — helping to diversify Florida’s economy. Florida has multiple industries that are expanding, including technology, which is also becoming an increasingly important driver of the state’s growth, according to Chief Executive Magazine.

Florida has demonstrated its competitiveness in the economic development landscape in recent years, according to data collected by Enterprise Florida, the state’s economic development organization. From 2010 through 2014, Florida has seen a 23 percent increase in projects won, a 91 percent increase in new jobs associated with projects and a 133 percent increase in capital investment being brought to Florida’s communities.

Aside from the GE deal in Jacksonville, other projects that contributed to Florida’s ranking include the expansion of Northrop Grumman in St. Johns and Brevard counties; Verizon’s announcement of 350 additional jobs at its Lake Mary location; ground breaking on the new global headquarters for the Hertz corporation in Estero; and Navy Federal Credit Union — which also has a large presence on the First Coast — creating 5000 new positions in Pensacola.


Written By: Colleen Michele Jones
Jacksonville Business Journal