Here in Florida we know how beautiful and inviting our cities are. And depending on your career, you may also consider it the best place to live and work too. If that's the case, then you may not be surprised to see Florida toward the top of the Forbes list of "Best States for Businesses."
The Forbes list takes a look at six key aspects when arranging cities and states in its lists of best business areas. The contributing factors: labor supply, regulatory environment, business costs, and economic climate, quality of life and growth prospects, are all weighed together to paint an accurate picture of the comprehensive business climate.
The Forbes profile of Florida suggests that the recent economic decline and subsequent rebound will likely catapult the state's job growth into the top three nationwide in the next five years. This business boom is expected to produce income growth that is also projected to be the fourth fastest nationwide.
The individual ranking for the six factors considered has Florida sitting at number three for growth prospects, number 16 for regulatory environment, 17 for economic climate, 21 for labor supply, 35 for quality of life and 38 for business costs. There are 50 cities total on the Forbes list of "Best States for Business" and while it is not sitting as pretty for quality of life as it is for economic growth, chances are that will change as business growth spurs improvement.
It is likely that the economic environment will change as it is projected to. This may prompt many new companies and businesses to open doors in Florida. For individuals looking to take advantage of this anticipated growth and new competition, having a team of experienced business law attorneys can help.
Source: Forbes, "Best States For Business," Oct. 28, 2015