5 most important key industries to invest in Florida
We have all been to Florida at least once in our life and wished we stayed there and lived our lives in this amazing state with its amazing weather. It is not all about beaches, pool parties and sunshine. Florida also has a thriving business sector and many on where to invest your money and make it work for you.
Real estate is a big thing in this part of the Unites States and many people are attracted to invest in that niche of the economy. But what about the other business sectors? What are the other parts of business where Florida is making it big and attracting investors from America and around the world? Here are some key industries to be watching if you want to invest your money.
Aviation and Aerospace.
Florida is the second state in aviation, aerospace and space establishments, having more than 2.000 businesses that employ more than 83.000 people. Almost every defense contractor is based in Florida, without mentioning the NASA’s Kennedy Space Center and the Cape Canaveral Spaceport. To its advantage it has more than 100 public use airports where global commerce and aircraft technology testing and manufacturing operations take place on a daily basis, without mentioning that Miami International Airport is the number 1 airport in the United States when it comes to international cargo.
Also known as Cleantech. Florida is now thriving with Cleantech businesses that focus on research and development and commercialization by using many of the natural resources available and making them sustainable. There are three areas that are major players: Energy, with solar technologies and electronics, biofuels and enzymes, ocean energy, energy storage and smart grids; Efficiency, with businesses focusing on LEDS and OLEDs, nanomaterials, coating, bioplastics and green architecture; and Environment, with growing businesses such as reverse osmosis and desalination technologies, water remediation, bioremediation, and waste treatment technologies.
Florida is the 3rd largest exporter of high-tech products and since the birth of IBM PC in Boca Raton, Florida has been pushing the limits of IT in areas such as digital media, modeling, simulation and training, photonics/optics and mobile technologies. Florida´s competitive costs, connectivity and expertise are having great impact in companies around America and the world and are innovating with products which focus on simulation and training systems for the defense, medical, entertainment and education; on design, development, manufacturing, testing, and integration of photonics and related systems; and on gaming and simulation software, entertainment and theme park applications. Florida is also home for over 25,000 IT companies with 250.000 employees in total.
Logistics and distribution.
Of course logistics is a big business in Florida as it is the first international airport for cargo and one of the most important ports in the United States. Almost every major company in global integration has their headquarters in Florida being the main “Western Hemisphere’s commercial gateway”, as it is called, and expecting amazing growth with the expansion of the Panama Canal. Florida is strong in the businesses of Value Added Logistics Services, Defense Logistics, Specialized Logistics IT and Whole trade and Transportation. In this guild they employ more than 500.000 people making it a great source of employment for local inhabitants and the 5th highest number of logistics and distribution job supplier in the US
It was not until recent years that Florida established itself as a life science hub for the Americas with more than 900 biotech, pharmaceutical and medical devices companies and more than 43.000 healthcare establishments with in the area. Industries with names such as Actavis, Arthrex, Bristol Meyers Squibb, Johnson & Johnson, Medtronic, Noven, and Steripak already have presence in the state and that says a lot about Florida as a life science hub. Some amazing facts about this industry are that Florida universities invest nearly $1 billion in life sciences research and development annually and ranks as the second state for FDA registered medical device manufacturing facilities. Another fact is that Florida is the 5th state for pharmaceutical and medicine manufacturing businesses and more than 7 Florida hospitals rank in the best places in the United States.
So, maybe you only thought about Florida as a way of taking vacations or even investing in real estate or businesses related to tourism and party. Think again. Florida is growing at a fast pace to offer many other corporate services that can give you amazing investment opportunities for the future. Florida´s strategical location and expertise in these 5 areas are showing America and the world that the state is more than beaches, sunshine and real estate, and that can give you good returns on investment. Take a good look at these industries and many other like financial and professional services, manufacturing, defense and homeland security when you are going to open your wallet to successful investment ideas in the state of Florida.