Why South Florida Research Report

REGIONAL COMPETITIVE ADVANTAGES

“Florda is a Top 5 state in Overall Tax Burden ”

Florida ranks as a top state in terms of tax policy with no state personal income taxes and low corporate income tax. South Florida has seen an inf lux of wealth as new residents have migrated for the tax friendly benefits. Within the South Florida MSA, there are incentives to businesses and corporations relocating and expanding. Incentives include: Follow the Sun Campaign- Miami Downtown Development Authority (DDA) Programoffers companieswith at least 10 employees a one-time payment of $500 per person who relocates – up to $50,000 per business annually and $150,000 over a three-year period. Miamidda.com Job Growth Incentive- Broward County The incentive is a direct cash incentive paid to companies creating jobs in excess of the 115% of the County’s average annual wage, up to $2,000 per new job or $200,000 per company. Broward.org Job Growth Incentive Grant Program- Palm Beach County Incentives are paid on the number of new jobs created as well as residents relocating to the county. Eligiblility and size of grant based on number of jobs created over a specified time period. Discover.pbcgov.org

COST OF LIVING COMPARISON

300

National Average is 100

250

200

150

100

50

0

New York (Manhattan)

San Francisco Washington D.C.

Boston

Los Angeles

Chicago

Fort Lauderdale

Miami

Palm Beach

Atlanta