Over the past two months, at least five headlines are doing the Florida real estate market a great favor. These headlines are telling people what a great state Florida is and giving them the idea that buying real estate in Florida is great for one’s use or for investment.
The five headlines helping Florida affirm people’s investment decisions are the following:
1. Florida Has the Country’s 5th Best Tax Climate for Business Enterprises in 2011
According to the Washington, D.C.-based nonprofit nonpartisan Tax Foundation, Florida is again the 5th most business-friendly in the country in terms of taxes for the 6th consecutive year. A major factor, as always, is the fact that there’s no personal income tax in Florida. In the ersonal income tax ranking, Florida is on top.
In terms of other types of taxes, Florida also ranked relatively higher than many other states. In unemployment compensation tax, it ranked third. In corporate tax, it ranked 15th. In property tax, it ranked 28th, and in sales tax, it ranked 30th.
2. Florida Will Lead Job Growth in 2011
According to Moody’s Analytics, Florida will lead all other states in pace of job growth.
Although the growth rate will not be as substantial as in previous years, the projected growth of three percent in all sectors, including construction, utilities, education, wholesale trade, financial activities and health services, is expected to be the highest growth rate among states. Certainly, the Florida real estate market will benefit from this growth rate.
3. Florida Universities Received $12 Million for Innovation
The state university system was awarded with a total of $12 million from the state through the Florida Board of Governors to fund their research and innovation programs. The first $2 million was given in October to finance 21 university projects, including the creation of electrochemical fuel cells, the cultivation of a new kind of cultured pearls, and the development of anti-cancer drugs.
In November, a combined total of $10 million was given to the University of Florida, University of South Florida, Florida State University and University of Central Florida. Among the research projects to be funded are related to biomedical engineering, climate change, aging, aerospace, and disease prevention.
4. Merit Increases and Lower Turnover Rate
More employers reported lower employee turnover rates in 2010 and more employers planned to grant merit increases in 2011, based on the Tenth Annual Survey of Florida Salaries, Wages and Benefits by Effective Resources Inc.
5. Florida Is Third Most Desired State
According to Harris Interactive, Florida ranked third in a survey in which respondents were asked which state they’d most want to reside other than the state where they currently live in.
With these lots of good vibes, Florida real estate market is certain to lead in the nation’s
recovery effort.
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