Central Florida has the potential to build a network of leaders to create a community of likeminded businesses, organizations, and partners. To achieve the development of opportunities across the region, there should be a focus on collaboration and inclusiveness among senior leaders. By cultivating emerging founders and independent talent, businesses can generate growth, innovation, and creative solutions to their arising challenges. By developing a network for organizations and community partners, leaders can assist in achieving this mission. It will help promote growth in the area, by supporting current businesses and advocating for new ones. In addition, a business network would foster connections between a variety of businesses and strengthen the community in Orlando.
Orlando is now the country’s 26th largest metropolitan area and is the epicenter to a variety of businesses. There is everything from science and technology to medical research, digital media, and advanced manufacturing being developed in the area. The location is perfect for those businesses that are looking to grow and develop over many years and is in a diverse metro area. Orlando has the best of both worlds, both urban and rural, to provide developing businesses with the resources they need accommodate their employees and the needs of the company.
Over the years Orlando has been developing
A business-friendly climate through their sustainable community initiatives such as their Community Solar Farm, to award-winning EDC, expedited permitting, development-ready sites. Ranking as the least expensive city in the nation for launching a business, Orlando provides an economical environment for entrepreneurs to flourish. Part of this is due to the City of Orlando’s business development division that is committed to recruiting, retaining, and growing businesses through a variety of programs. The City works with economic development organizations to maximize its impact and effectiveness in the community. Industry leaders and nonprofit think tanks have partnered with the Orange County office of economic development to drive smart economic growth within the region. Nearly 1.1 million dollars in economic development programs were funded by the county in 2013 to promote such initiatives.
For those companies that are looking to relocate to the greater Orlando business community, it is good to check out the industry incentive programs in the region. The Greater Osceola Partnership for Economic Prosperity (GOPEP) partners with the state of Florida and other agencies to create and participate in such incentive programs. In addition, the county also offers a five day fast-track permitting process that fully assists relocating organizations. Orlando’s internationally accredited Economic Development Commission (EDC), ranks within the top 1% nationwide. It has created 176,750 jobs, $9.5 billion in capitol investments, and 79.7 million square feet of office and industrial space since its inception in 1977. Lastly, with the state tax competitiveness of Florida, the state is considered to have one of the nation’s most business-friendly tax codes. The tax breaks are as follows:
- No corporate income tax on limited partnerships or subchapter S-corporations
- No corporate franchise tax on capital stock
- No property tax on business inventories
- No state-level property tax
- No property tax on goods-in-transit for up to 180 days
- No sales-and-use tax on goods manufactured or produced in Florida for export outside the state
- No property tax on business inventories
- No state income tax–a great perk for your employees
Orlando is emerging as a contender for the global business industry and is fueled by economic development, infrastructure, and its pool of rising talent. There are major corporations that are already housing operations here including aviation and aerospace giants like Lockheed Martin, Boeing and General Dynamics. Orlando also is the home to the Manufacturers Association of Central Florida, the area also employs 317,000 workers to work at over 18,200 manufacturing companies within the region. The type of manufacturing ranges from intermediate projects to equipment manufacturing for defense and homeland security. The second largest industry in Orlando is Technology, and it is growing at an exponential rate. Orlando is also one of the world’s only trade zones that is accessible by air, land, sea, and space, making it the most ideal location for businesses who want to expand their markets.
The Orlando Utilities Commission was able to bring United States Tennis Association Headquarters to the Orlando area and create a sustainable, technologically advanced facility. They brought the $60 million, 63-acre campus to Orlando where there are 100 tennis courts and dozens of programs for players of all abilities from junior circuit to professional. All while keeping an eco-friendly footprint with their solar-powered mobile device charging stations, electric vehicles, and H2OUC hydration stations. In 2017, the global audit, tax, and advisory firm KPMG broke ground on their new 4 million dollar and 1.2 million-square-foot corporate training center. Through the Economic Development Rate Rider and negotiation of beneficial electric and water rates, the Orland Utilities Commission was able to encourage KMPG to invest in the area. Their move to Orlando created more than 300 jobs features cutting edge technology while supporting training and client engagement.
Because this region has developed from a small town to a bustling city, Orlando has the resources to grow, advance, and thrive, but most importantly it can succeed. When considering relocating or expanding a business, it is important to consider all the factors needed to make your business flourish. It is important to assess the resources needed to support a growing company sustainably and reliably. Orlando has a strong labor force that is exceeding 1.1 million, who are skilled and ready for high-tech responsibilities. Given the number of Universities, colleges, and specialty schools in the region there is no lack to a diverse and talented labor force. With more than 30 post-secondary institutions in the area, Orlando has a robust workforce resource. This access to a strong and stable labor pool allows for growing businesses like MyTShirtKings always have access to a large workforce to meet their needs.
Orlando offers a beautiful and safe environment in which the business community can flourish under the year-round sunshine. Companies of all shapes, sizes, and growing needs will find that they have a place amongst the Orlando community in which they can build their business. It is this commitment to growth and community development that makes Orlando a unique area to develop your corporation.