Why South Florida

COMPETITIVE ADVANTAGE

FLORIDA IS A TOP 5 STATE IN OVERALL TAX BURDEN

REDUCED TAX RATE ON COMMERCIAL LEASES

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 INFLUX OF WEALTH AS NEW RESIDENTS HAVE MIGRATED FOR THE TAX FRIENDLY BENEFITS.

4.5% 2.0%

RENTAL CHARGES PAID ON OR AFTER JUNE 1, 2024 for rental period of December 1, 2023-May 31, 2024 are subject to:

TAX $ $ $

Within the South Florida MSA, there are incentives to businesses and corporations relocating and expanding. Incentives include:

RENTAL PAYMENTS MADE PRIOR TO JUNE 1, 2024 that entitle the tenant to occupy the real property on or after June 1, 2024, are subject to:

Follow the Sun Campaign- Miami Downtown Development Authority (DDA) Program offers companies with at least 10 employees a one-time payment of $2,000 per person who relocates – up to $50,000 per business annually and $150,000 over a three-year period.

Cost of Living Comparison

#: RANK | *NATIONAL AVERAGE IS 100

Cost of Living Comparison

#1

Miamidda.com | hwww.bizjournals.com/southflorida/news/2024/04/26/miami-business-startup-incentive-program.html

250

Job Growth Incentive- Broward County 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.

200

#4

#7 #8 #12

#23 #27

150

Broward.org

#34

#36

#107

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. Eligibility and size of grant based on number of jobs created over a specified time period.

100

50

Discover.pbcgov.org

0

New York (Manhattan)

San Francisco

Los Angeles Boston Washington D.C.

Fort Lauderdale

Miami

Chicago Palm Beach Atlanta

Cushman & Wakefield | Why South Florida

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