Updated: Aug 11
It's No Secret That Florida Offers a Friendly Business Environment & Great Weather.
by George L. Rosario, Speaker, Business Development Director at Property Tax Alliance Group
The Sunshine State has enjoyed an exodus of high-tech companies seeking to capitalize on Florida’s generous tax rates, pro-business attitude and abundant commercial real estate. Florida offers tech-based business owners significant opportunities for growth and expansion in a business-friendly environment, and is now a go-to destination for many tech companies. This article seeks to explore the business dynamics and financial dynamics of this relocation trend and its implications for Florida’s commercial real estate market.
In the current business climate, many companies are seeking to take advantage of business-friendly incentives in Florida. With no corporate or individual income taxes, the state yields significant cost savings compared to other states such as California and New York. In addition, tech companies are able to capitalize on the state’s access to a large pool of talented software engineers, product managers and other specialists.
As tech firms relocate into the state, they are seeking out commercial real estate with easy access to infrastructure in locations where their employees are concentrated. With a wide variety of real estate to choose from, tech firms eager to expand their presence in the state can easily find quality commercial space suited to their needs. Florida has some of the lowest commercial real estate prices in the country when compared to its peer states. In addition, the nature of Florida law allows for the formation of multiple LLCs, allowing investment firms to easily create multiple entities under one roof in order to capitalize on the state’s incentives.
The high influx of tech companies into the state has created a unique opportunity for the commercial real estate sector in Florida. The demand for commercial space has grown dramatically, resulting in a very competitive market in some areas of the state such as Miami and Tampa. This has led to increased rental rates and a reduction of available commercial real estate. The supply of commercial space in the state is not expected to outpace demand for some time, leading experts to project a healthy market for several more years.
In addition to being a go-to destination for tech giants, Florida’s business-friendly attitude is also extending to smaller startups and entrepreneurs. The state’s low taxes, available talent pool and diverse economy are proving to be a magnet for venture capitalists and their business investments. Accessible commercial real estate is allowing entrepreneurs to secure locations for their businesses and take advantage of the many benefits that come with co-locating in Florida.
The influx of tech companies is also driving increased job growth in the state. Many of these companies are turning to Florida to create new offices and hire locals as they expand their businesses. The presence of tech firms is also leading to a revival of some of the urban cores of cities like Miami and Orlando, as redeveloped commercial real estate brings in tech jobs and increased retail, restaurant and recreational opportunities.
The relocation of high-tech companies to Florida is having a ripple effect on the state’s commercial real estate market. As tech firms continue to pour into the state and seek out prime commercial space, the demand for quality commercial real estate has grown significantly. The current trends suggest that the market for commercial real estate in Florida will remain strong for several more years due to Florida’s business-friendly attitude, economic incentives and abundant real estate. This trend is beneficial for both tech companies and Florida’s commercial real estate sector, as the influx of high-tech industries into the state is introducing exciting new opportunities for businesses and job seekers alike.
If you or anyone in your sphere of influence are involved in Florida Commercial Real Estate Property, you should contact Property Tax Alliance Group - PTAG immediately. Chances are you are overpaying on your taxes. Contact me today:
GEORGE L. ROSARIO
Business Development Director
[Once you've taken the leap and become a commercial real estate owner, you have to give the pros at Property Tax Alliance Group - PTAG a call. #PTAGsaves Florida commercial real estate owners/investors on their property tax bill. The goal is to free up much needed capital for future endeavors, repairs or reinvestment. To learn more, contact us at www.TaxFlorida.com or contact me, George L. Rosario directly at 954-644-2322. A huge part of managing your Florida commercial real estate investment cash flow involves having your tax liability evaluated by Florida's best commercial real estate property tax team. The Property Tax Alliance Group (PTAG) is a South Florida-based professional Property Tax Consulting and Advisory firm delivering solutions to local, regional, and national clients since 2004. We offer an impressive portfolio of customizable tax reduction services available to Florida commercial property owners. County appraisers are not in the business of reducing your tax liability. We are! And, we help you accomplish this within the full spectrum of the law. Get in touch with us today if you would like PTAG to ensure your business is not overpaying its fair share of local property taxes and increase cash flow. #PTAGsaves]
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ABOUT THE AUTHOR:
George L. Rosario is a Brooklyn NY born & raised businessman & entrepreneur turned consultant. He started GC Rosario Group with his lovely wife Claudia. With over 30 years of service to the marketplace in NYC, George has relocated and been graciously adopted by the business community of South Florida. He travels the country helping businesses and organizations thrive in today’s noisy environment. George & Claudia Rosario help companies, businesses, organizations and teams develop the necessary skillset and plan of action to not just survive but thrive in this new world. Their love for commercial real estate made them the ideal partners to help Property Tax Alliance Group #PTAGsaves help more commercial real estate investors, owners, property managers and developers gain more leverage over their portfolio's property taxes. We will help you meet your ROI and NOI goals. George is always available to meet over coffee and discuss how your commercial real estate portfolio can continue to grow when you use proactive strategies to lower your yearly tax burden. Let's talk about it. “Every day is a good day when you do what you love and love what you do.” – George L. Rosario George L. Rosario and Claudia P. Rosario are growing some of America's fastest growing brands, including Florida's best property tax consulting firm, Property Tax Alliance Group. If you own commercial property anywhere in the state of Florida, you know PTAG.
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