South Florida’s economy has seen considerable growth in recent years, thanks to a wide variety of investment options for foreign and domestic investors, according to a commentary from Florida TaxWatch, the independent, nonpartisan research group. A burgeoning innovation sector, increased foreign investment and a bolstered financial services market have augmented the region’s rapid growth.
Over the past few years Florida’s economy has been on the rise, finally shaking off the economic pain from the great recession. This positive growth has helped stimulate development in South Florida in particular. In a recent survey, more than 80% of small businesses in South Florida reported that they expect to meet or exceed their 2015 revenue targets. And the economic growth is not limited to small businesses; the South Florida Region has also seen a growth in sectors such as construction, financial services, innovation, and more.
This report, the third in the last two years on the subject from TaxWatch, looks at the next steps for policy changes in Florida, and compares Florida’s policies with those of California, Texas, and New York.
This week, President Obama announced the commutation of 46 nonviolent federal offenders, offering them a second chance. Eleven of these offenders who will be released early from their prison sentences are Floridians who have a unique opportunity to re-assimilate into their communities and become productive taxpaying citizens in the Sunshine State.
Ask most people which city in the U.S. is the largest, and you will likely hear New York, or Los Angeles, or one of the other “major” cities around the country. The truth, however, is that the largest city in the country is Jacksonville, Florida, at 874.6 square miles. While the size of Jacksonville may not be well known, even fewer may realize that the city is a rising star of startup activity and job creation.
Last year, Florida TaxWatch called for increased spending for public defenders and state attorneys to ensure justice is available for defendants and victims involved in Florida’s court system. The legislature heeded TaxWatch’s recommendation in the 2014 budget. This year, lawmakers should extend their commitment to funding the justice system to law enforcement by investing in the replacement of the state’s law enforcement radio system.
Florida’s world-renowned, $10 billion citrus industry is an important sector of the state economy, providing thousands of jobs and capital to agricultural regions. As the nation’s largest supplier of citrus, the success of this industry is vital to Florida’s diversified economy.
To bring attention to the current state of Florida’s infrastructure, and whether it can continue to meet the needs of both residents and visitors, this report looks at evaluations of the capacity of various components that support the tourism industry, including airports, roads, and cruise terminals.
The Florida Municipal Power Agency (FMPA) was established in 1978 to provide competitively priced, reliable power and value-added services for its member municipalities. Concern over higher rates has caused some FMPA member municipalities to “break ranks” in pursuit of lower power rates. This report looks at the FMPA, and the oversight, or lack thereof, that currently exists.
Easing the tax burden for Florida families and businesses would also attract business investment, create Florida jobs and grow the state’s information-based economy, according to this report, which highlights the state’s Communications Services Tax, the fourth highest in the nation.
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