Florida's Message to New York CEOs: A Call for Confidence and Growth
In a recent initiative, the Florida Council of 100 has taken a bold step by addressing New York's business community with an open letter. This communication highlights the increasing challenges faced by companies operating in uncertain economic and political climates and presents Florida as a desirable alternative. Emphasizing Florida's impressive economic performance and CEO optimism, the letter promotes the Sunshine State as an environment where business can thrive without fear of punitive regulations.
An Invitation for Change
The Council's letter underscores a crucial truth: uncertainty is detrimental to effective decision-making. When an area becomes economically unpredictable and when free enterprise is threatened by political agendas, business leaders must reconsider their operational bases. As the letter states, New York’s future appears increasingly fraught with risk, posing significant concerns for executives who are accountable not only for their business performance but also for the communities that rely on them.
In contrast, Florida positions itself as a location of opportunity and security. The state has worked diligently to foster an atmosphere in which governmental bodies cooperate with businesses, helping them grow rather than hindering their progress. The recent report titled "Beyond Sunshine" reflects this strategic focus, demonstrating that Florida's economic policies are driven by data and an understanding that success in the private sector contributes to community wellbeing.
Economic Growth in Florida
Florida is not just maintaining growth; it is accelerating at a remarkable pace. Since 2019, the state's real GDP has surged by 26.3%, the highest among all states and nearly double the national growth rate. With over 3 million new businesses formed since 2019, including over 634,000 in 2024 alone, Florida's economy showcases robust entrepreneurial spirit. This upward trend is mirrored in the sentiment of local CEOs; according to a recent survey, nearly half—49%—plan to expand their workforce within the next six months and 45% are anticipating increased capital investments despite broader economic uncertainties.
Furthermore, Florida boasts AAA credit ratings and a $115.1 billion state budget that supports over 23 million residents alongside substantial financial reserves, all while New York operates with over $254 billion allocated for less than 20 million residents.
Key Sectors Driving Growth
Florida's growth is not left to chance. It focuses on key sectors where it excels in talent and opportunity. Florida excels in:
- - Finance and Insurance: Generates $131B in annual GDP, with $51B from Southeast Florida alone.
- - Health Services and Life Sciences: With an annual GDP exceeding $138B, driven by key hubs in Tampa and Southeast Florida.
- - Distribution and eCommerce: Contributing over $84B in GDP, linked to global ports and major transportation networks.
- - IT and Technology: Growing rapidly with a current contribution of over $22B in GDP.
- - Aerospace and Advanced Manufacturing: Hubs across the state are creating stable job opportunities.
- - CleanTech and Agri-Business: Pioneering innovation while unlocking rural potential.
This clearly showcases that Florida is already translating its growth strategies into substantial GDP gains across various sectors.
Public Safety: A Vital Consideration
In today's business environment, safety is paramount. The state prioritizes public safety, evidenced by significant investments in law enforcement and training programs. Florida’s crime rates have reached a 50-year low, contrasting with the rising crime statistics in New York City, where felony assaults have surged by over 5% this year alone. For CEOs, a secure environment is not just beneficial, it is essential for maintaining business operations and protecting stakeholders.
A Pipeline of Talent
Florida's educational framework has proven to be a significant asset, fostering a strong talent pool. The state has consistently ranked high in K-12 education and has been acknowledged as the leading state for higher education in the country for the past nine years. This reinforces Florida's readiness to support businesses across various sectors with highly skilled professionals.
Conclusion: The Open Invitation
The Florida Council of 100 extends a straightforward invitation to New York's business leaders: if you seek stability, supportive partnerships, enhanced safety, and robust growth opportunities, Florida is ready to welcome you.
As the Council encourages, consider expanding your ventures where your company is embraced, your personnel is safe, and your prospects are unhindered. The Florida Council of 100 stands prepared to engage with you and explore pathways towards mutual success.
Sincerely,
George LeMieux, Chair
Rodney Barreto, Vice Chair
For inquiries, contact Amber Statler-Matthews at 772-219-1719.