Florida continues to draw people from around the country looking to enjoy everything the state has to offer new residents. It’s also become both a magnet for businesses relocating from other states and a hotbed for new business openings by existing residents.

In 2020, more new businesses opened in Florida than any other state. The total number of new businesses reached 397,320, a 28 percent increase over 2019. The state has 18.5 new businesses for every 1,000 people.

Why? There’s more than one reason. When it comes to running a successful business, Florida has a perfect combination of important factors.

Why Start a New Business in Florida?

For most business owners or those who want to operate a franchise, there is not just one reason they decided to move their office to Florida, but rather a combination of reasons. The following areas rank high on the list of reasons to start a business in Florida or move one there from another state.

Government Incentives

Government officials at both the state and local level in Florida actively engage businesses looking to relocate to the state or current residents considering a new business launch. The governor’s office lists a number of incentives for new businesses that include:

• Tax refunds for businesses that develop “abandoned, idled or underused industrial and commercial sites” where expansion or development is “complicated by environmental contamination.”
• Tax credits for creating jobs in certain urban and rural zones
• Capital investment tax credits for costs incurred during acquisition, construction, installation, and equipping of a project from when it begins through the start of operations
• A special tax exemption for all sales and use taxes for businesses engaged in the semiconductor, space, and defense sectors.Quality of Life

Florida offers great neighborhoods and schools, beaches, amusement parks, paradise-like weather from October to March, and a low cost of living. The state also is heavily investing in itself in everything from education to broadband access. In a recent interview, former Florida Gov. Jeb Bush said the quality of life issues have made Florida a magnet for people who want to relocate and made it easier to start a business.

“There are all sorts of people that are saying ‘I want my children to grow up in a place where it’s not hostile, they’re dealing with problems, the schools work, and the infrastructure feels like it’s new,’” he said. “All of that bodes well for our state.”

The state also is committed to law and order. Gov. Ron DeSantis recently launched a program that offers a $5,000 bonus to police officers who relocate to Florida.

A Business-Friendly Tax Structure

Florida does not charge a state income tax, which automatically gives business owners and their employees a raise if they move from a state with an income tax. The state also has no inheritance or intangibles tax, and its corporate and sales taxes are low compared to other states. Part of the reason Florida can keep sales taxes on residents and businesses low is that the state makes so much on tourist-related taxes. Florida attracted more than 30 million visitors in 2020 alone.

Access to Capital

Florida continues to attract a larger number of venture capitalists and angel investors who support entrepreneurs in their business launch. Money also is coming from educational institutions. An example of this is the Florida High Tech Corridor, a 23-county area in Central Florida formed by the University of Florida, the University of Central Florida, and the University of South Florida. The program currently offers $80 million in grant money for research projects at more than 400 tech companies.

Steady, Consistent Growth

In terms of growth, Florida has steadily risen over the past few decades. The state now has the fourth-largest economy among the states. If Florida was an independent country, it would have the 15th largest economy in the world when ranked against other countries. The state continues to diversify its economy, with some of the biggest sectors in the state including aviation and aerospace, cleantech, defense, and homeland security, financial and professional services, information technology, life sciences, and logistics and distribution.

You’re In Good Company

In recent years, a large number of companies have announced plans to relocate or expand their operation in Florida. In 2021 alone, Disney, KPMG, Sonesta International Hotels Corporation, and InnovaCare Health Inc. all announced relocation or expansion plans in the Orlando area. Pfizer opened a large operations center in Tampa, and Suzuki Marine USA moved its headquarters there. Blackstone, the world’s largest private equity firm, recently opened a new tech division in downtown Miami.

These moves show that starting a business in Florida is a smart choice. Leaders in the Sunshine State value entrepreneurs and businesses of all sizes. For residents of Florida – or those who want to be residents – it’s hard to find a better place to do business.

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After years of serving their community, most officers who reach retirement – generally after 20 to 25 years on the force – are far too young to spend the rest of their days sitting on the beach.

That’s why finding a second career is a popular topic for retired police officers and those closing in on retirement. The good news is the skills that police officers learn in their job translate well into other opportunities. That includes everything from other jobs in law enforcement and security as well as desk jobs at a large company.

The following eight post-law enforcement career ideas for retired police officers offer a way for those who have served their communities to move on to a rewarding new professional challenge.

What To Do After Retiring From The Police Force?

Police officers who are approaching retirement age enjoy plenty of second career options. The key is finding the right one to fit their personal ambitions and one that makes the most use of their talents. It’s an issue that impacts most of the almost 700,000 police officers across the United States. The following provides some popular second career ideas for retired police officers.

Corporate Security

Many former police officers move into corporate security. Retired officers have the skills to enter the profession in a management role. At that level, corporate security involves creating and enforcing security policies and overseeing and managing guards. The focus is on helping companies mitigate risk by protecting both people and property.

Entrepreneur

Many of those who formerly worked in law enforcement have the skills needed to succeed in launching a company or becoming a franchise operator. These skills include communications, discipline, a strong work ethic, and a commitment to teamwork.

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Cybersecurity 

While this might require some further education, police officers have many of the skills needed to succeed in cybersecurity. It’s essentially the same job of protecting people and property from criminals, except everything is digital. As the number of cybersecurity crimes continues to increase, more experts than ever are needed in this field.

Loss Prevention Specialists

A loss prevention specialist might work in cybersecurity or develop security plans that protect physical property. The nature of the job depends on the business. However, companies from retailers and banks to healthcare organizations and government agencies hire loss prevention consultants or add them to their staff.

Private Investigator

Retired police officers have all the skills needed to become private investigators. Those who work in this field may run their own agency and get hired by individuals. Others work for insurance companies, looking for people who are faking injuries or conditions to get big insurance payouts, or on missing persons cases.

Bounty Hunter

Speaking of missing persons, a bounty hunter’s job involves the same skill set – they track people down. In many cases bail bonds companies hire them to track down someone who has skipped out on a court date. It’s a potentially thrilling and lucrative profession, but also a dangerous one.

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Crime Scene Investigator

Police officers often have the skills needed to succeed as crime scene investigators. Many investigating agencies give preference to hiring a former officer who has earned the necessary professional certification to become a crime scene investigator.

Bodyguard

This is a potentially dangerous (depending on the client) career but also a potentially lucrative one. Some police officers may already have earned extra money moonlighting as a bodyguard. Bodyguards work for a wide range of people, including politicians, business CEOs, movie and music stars, and television personalities. It’s a natural fit for someone who has spent their first career protecting the public.

Finding a second career for retired police officers is relatively easy because of the skills officers learn while on the force. They provide police officers with a well-earned, and in most cases much safer, career transition.

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