Florida Coverage Area
|DBF||220||Delray Beach||(561) 499-4080|
|FTM||305||Fort Myers||(239) 226-9670|
With service centers located throughout Florida, ArcBest® can provide transportation and logistics services to or from any point in the state with ease. Call 800-610-5544 to learn more about our supply chain solutions.
Florida’s Economic Profile
- Population — 20,271,272 as of 2015
- Unemployment rate — 4.7 percent as of 2016
- Projected economic growth — 2.9 percent, annually
- Sales tax rate — 6 percent
Global Access from the Sunshine State
While many who think of Florida imagine white sandy beaches, palm trees, citrus fruit and Disney World, business leaders likely think of the state’s booming economy. Made up of diverse sectors from agriculture and aerospace to tourism and real estate, Florida has a business environment that encourages growth and prosperity.
The state has become a global trading hub, and its location is the key to its success. Situated between the Gulf of Mexico and the Atlantic Ocean, the Sunshine State has a sophisticated infrastructure that supports commercial travel to any point within the United States or to international locations, making it an attractive destination for a business.
Life is good for businesses in Florida. With no state income tax and a corporate-friendly environment, the state’s business climate is encouraging for employers of all sizes.
Florida’s economy is among the best in the country, thanks in part to an overall favorable tax infrastructure — which includes no state or personal income taxes — a large workforce and a pro-business government. The state is also consistently ranked as one of the most corporate-friendly states in the country, which is why many businesses call the state home. Some of those programs include:
- Workforce training programs to promote trade- and technology-based jobs
- Local funding incentives to improve infrastructure
- Programs that promote growth in rural communities
Florida’s economy is the fourth largest in the United States and it relies on a number of areas. The state is considered the top travel destination in the world, and tourism is a major player in the state’s economy, but other sectors also contribute.
Tourism and Travel
With 663 miles of beaches and tourist attractions in locations such as Walt Disney World, the NASA Kennedy Space Center and Everglades National Park, more than 87 million people visit Florida annually. As of 2015, tourism and the service industry accounted for more than 1 million jobs in the state, and the industry contributes nearly $50 billion in revenue.
Aerospace and Aviation
More than 2,000 aerospace and aviation companies are located in Florida, employing more than 87,000 workers. Since the state is a popular tourist location and a hub for commerce, its commercial airports see a significant amount of traffic, accounting for 10 percent of the nation’s overall passengers. The total annual economic impact of aviation-related activities in the state is estimated at $144 billion.
Florida produces 70 percent of country’s citrus products and 40 percent of the world’s orange juice. Oranges, grapefruits and other citrus products lead the state’s agriculture products, followed by greenhouse and nursery products, tomatoes, dairy products and sugarcane. The industry employs nearly 2 million people and contributes nearly $104 billion to the economy annually.
International trade accounts for about a sixth of the state’s economy and contributes about 1 million jobs and nearly $80 billion annually. 40 percent of U.S. exports to Latin America and South America pass through one of Florida’s seaports. Florida seaports provide nearly 680,000 jobs in the state and produce an estimated $96 billion in value through cargo and cruise activities and account for nearly 13 percent of the state’s Gross Domestic Product while contributing $2.4 billion in state and local taxes.
Florida has solidified itself as a location to promote job growth in the life sciences industry as the state is home to some of the nation’s most highly regarded biomedical and biotechnical research institutions. The industry provides nearly 80,000 jobs.
Financial entities also represent a large sector of the state’s economic makeup, with financial, insurance and professional services firms representing 11 percent of its employment with nearly 130,000 firms providing almost 900,000 jobs.
Florida’s Transportation Infrastructure
Florida’s massive transportation system provides a number of methods to allow goods to be moved. Its roadway system contains 1,473 miles of highway and 9,934 miles of non-interstate highways. In addition to federal, state and local roadways, Florida has more than 500 miles of toll roads that extend through parts of the state.
Airports and Seaports
With revenue generated through 131 public airports, including seven with international service, and 15 public seaports, Florida is also positioned as a leader in international trade.