Small Business

June 27, 2007
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Small Businessmen and Women Drive the Economy in Florida

  • Small businesses create two out of every three new jobs and account for nearly half of America's overall employment. The role that they have played in our nation’s economic recovery cannot be underestimated.
  • Thanks to Republican business-friendly economic policiess
  1. Based on the latest nationwide data, Florida had the lowest unemployment rate of the ten most populous states from April 2006-April 2007 and continued to be below the national average.
  2.  According to the Agency for Workforce Innovation, Business 2.0 magazine recently reported that Orlando has the hottest job market in the nation, noting that three of the top ten hottest job markets are in Florida.
  3. Florida now ranks fourth in the nation in total high tech employment and was the second-fastest growing high tech job market, trailing only California. Florida added 10,900 high-tech jobs in 2005.
  4. Florida has recorded 56 consecutive months of job growth.
  5.  Florida’s April 2007 unemployment rate of 3.4 percent was 1.1 percentage points lower than the national average.
  • Governor Crist recently signed the 2007-2008 budget, which aims to continue attracting high-wage, high-value businesses to expand and locate in Florida through:
  1. Film and Entertainment Incentives – $25 million will provide incentives for the digital media industry and Florida’s own filmmakers to capitalize on the existing entertainment infrastructure and draw more productions to the state;
  2. Innovation Incentive Program – $250 million will increase Florida’s ability to attract clean, vital industry and high-wage, high-skill jobs to Florida. The goal of the program is to draw cutting-edge, world-class research centers and high-impact business projects to Florida;
  3. Quick Action Closing Fund – $45 million will enable Florida to respond quickly to economic opportunities for business expansion, recruitment and retention. Local economic development organizations working in conjunction with Enterprise Florida and the Office of Tourism Trade and Economic Development will have access to these funds to expand and retain their employment base; and
  4. Space Florida – $7 million will keep Florida on course during a time of transformation from the NASA Shuttle Program to the new exploration program.
  • Governor Crist recently opened the state’s first hydrogen energy demonstration station, an example of high-tech initiatives that aim grow Florida’s technology industry and spur investment and economic opportunity while safeguarding the state’s natural resources.
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