The Economic Climate In South Florida

| January 25, 2015

real estate is facing a great boomSouth Florida comprises of three counties – Broward, Miame-Dade and Monroe with 4.5 million population. It serves as a major international and national banking, tourism and commerce gateway supported by its executive airports, three international airports, foreign trade zones, industrial parks, critical infrastructure and three sea ports. It is the fourth largest developed area with the population reaching almost 5 million. The population has started to grow again, which serves as an asset to compete in the global economy. It gives way for a multilingual and multi ethnic workforce and ethnically different environment for budding and growing businesses.

This continual growth will boost the local government to provide major improvements in the infrastructure of the city. It helps to expand and improve services like water, transportation, solid waste, waste water and education facilities for new and existing residents.

Business Climate

South Florida has lots of start up and small business traditions. The seaports and airports are the major engines driving the economy of South Florida. Moreover, the ground transportation system runs on par with seaports and airports as an important economic engine which holds the South Florida economy.

In recent years, there are several financing programs developed. It helps the small business and startups to transform their innovative ideas into new usable technology.

On the other hand, the business friendly incentive program, tax system and simple to understand regulatory and permitting climate helps to enhance the ability and attracts new businesses that generates new employment and economic growth. The city is well balanced between public services and taxation to generate the long term economic atmosphere of the community.

Economic Development and Innovation

South Florida’s quality of life and economy of life is well connected to provide necessary infrastructure and support urban infill development. The region’s energy efficient technologies and green building strategies help to create an environmentally and economically sustainable region.

Real Estate Industry in South Florida

The economy strengths of South Florida are its space industry, international trade, banking and financial services, health, technology, software companies, agriculture, real estate, construction and tourism. The real estate is facing a great boom since thousands of visitors and new residents shift to South Florida every year. It has been in the steady stream of things, especially in the last five years. As the city has consequently focused on nurturing entrepreneurship and research commercialization, there is adequate capital for small businesses and start ups to flourish.

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