The Development Counselors International (DCI) conducts a survey every three years of business climates throughout the United States by polling a variety of business executives and consultants. Consistently at the top of the list is Texas. This should be no surprise due to the recent shale boom that has many businesses impacted by the energy industry adding, or entirely relocating, workforce to the area. The state claimed almost 50 percent of the vote for the most favorable environment in the country. Prominent businessmen voted Florida in to second place, citing the favorable tax climate, workforce quality, incentives, and the overall pro-business environment promoted throughout the state.
This bodes well for both commercial and residential real estate throughout the Florida business market. As more and more businesses, and their employees, relocate to the state, this will bring many areas, especially urban centers like Miami or Orlando, a heightened level of interest in a variety of property types. According to the survey, 44 percent of top executives said their companies would be making a location decision in the coming year. Similarly, 40 percent said that they would outsource the location decision to a third party agent, either a real estate broker or site selection consultant.
This information can be very valuable for municipalities trying to draw in potential corporate customers. As the level of competition rises for these companies’ business, it is increasingly important for government to find ways to entice top executives to stay, or relocate to their area. This year we have seen a significant jump in corporate tax inversions as domestic companies seek tax relief, so it will continue to be important for states to try to keep business here at home.
If you, or your company, is interested in expanding or relocating to one of the country’s fastest growing markets here in Miami, Florida, please reach out to a RE/MAX agent today with any questions regarding commercial or residential real estate!