Economic rebound is not nationwide, but here in Florida it seems to be a trending thing. The Chamber of Commerce released details of its new Competitiveness Agenda, and it matches what Governor Rick Scott has planned for Florida's pro-growth future.
Two key initiatives are strongly supported with the Chamber's Competitiveness Agenda. These two initiatives are designed to offer huge tax cuts to new businesses settling in Florida and to encourage individuals in leadership roles to stay on track and support Florida's pro-growth plan.
According to a recent article in Forbes, the state of Florida grows by nearly 800 people each day. And to support such an increase in residents, the state must provide jobs to match. In fact, to get new businesses to settle in Florida, the state has worked so hard to become business friendly that it has secured the number four spot on the 2016 State Business Tax Climate Index. This rating, as part of the Tax Foundation's annual report, attributes Florida's continual hold in the top 10 to its business friendly atmosphere and absent individual income tax.
Florida's steady growth has made it possible to project that the state will become home to some 6 million new inhabitants by 2030. The CEO and President of the Florida Chamber of Commerce feels that continual economic growth will be key to preparing the state for such a population boom and to maintain it will require a diversified economy.
The Competitiveness Agenda paints a pretty clear picture of Florida's future overall growth and not just fiscally. The holistic look that it provides weighs various factors in Florida and emphasizes smarter policies for future growth. While there are several possible changes in the works for new and relocating businesses, there might still remain some disincentive issues to address. And while reports like this one help entrepreneurs and other business owners decide if Florida is the right market for them, receiving the additional help of a business law attorney can make a big difference.
Source: Forbes, "Florida's Steady And Uprising Sunshine," Rex Sinquefield, Nov. 30, 2015