Florida: A Global Gateway
International trade is one of the state’s strongest sectors. Florida-origin exports reached an all-time high of $66.4 billion, while total merchandise trade hit a record $162.2 billion. Florida continues to have the highest trade surplus among all U.S. states, a reflection of the state’s role as a global hub in the Western Hemisphere. International trade and investment accounted for about one-sixth of the state’s economic output in 2012 (Enterprise Florida). International trade supports an estimated one million jobs, further underscoring its impact on the state. Trade and foreign investment play a fundamental role in Florida’s economy by fuelling growth, supporting jobs, and diversifying the economic infrastructure.
The economic impact of this makeup is immense. More than 8,000 foreign companies (incl. branches) operate across the state and across industries, bringing valuable investment capital to the state and supporting Florida jobs. More than 2,500 foreign subsidiaries from 71 countries have operations throughout the state; which is due to the state’s advantages and resources, including vast trade and investment network. Consistently ranked as one of the nation’s top states in an assortment of categories critical to business development, Florida provides companies a location with favorable costs, streamlined regulation, global access and a talented workforce needed for economic growth.
Florida’s prominent industry clusters significantly contribute to the state’s continued economic success and competitiveness. These include clean-tech; life sciences; information technology; aviation/aerospace; logistics and distribution; defense and homeland security; and financial/professional services.
Florida remains a magnet for German investment. More than 250 German firms are making use of Florida’s unique combination of strategic location, high-tech infrastructure, multilingual work force and a concentration of corporate and financial resources. They account for a total investment of more than $4 billion and more than 20,500 jobs.
Today, the state is home to more than 19 million residents that make up one of the nation’s most diverse populations. An expansive blend of various cultural, linguistic and ethnic backgrounds provides Florida a competitive asset in the global economy of the 21st century.
Partnerorganization: German American Business Chamber of South Florida (GABC)