Overview of Florida State and Brevard County
Florida has consistently been the national pacesetter in the number of new business incorporation's, leading the nation seven out of the last eight years.
For each of the past ten years, Florida has been one of the top four states in new corporate facilities and expansions, including leading the nation five times.
Florida's tax system is among the most advantageous, from a business perspective in the United States.
Business leaders find Florida less taxing environment:
The corporate income tax rate for C-corporation is 5.5%
No corporate franchise tax on capital stock
No tax on foreign source dividends, as defined by IRS code
No state personal income tax
No state level-property tax
No property tax on business inventories
No ad valorem taxes on goods-in-transit
No sales tax on boiler fuels, including recycled oil, waste oil, or solid waste materials used as a fuel
No sales and use tax on co-generated energy or on co-generation machinery and equipment
Tourism plays an important role in Florida's tax structure. More than $65 billion in taxable spending was generated in 2008 by tourism ($33 billion in 1994 / $47 billion in
To assist companies seeking to locate in Florida, as well as support Florida companies seeking to expand within the state, numerous location advantages and incentives are
Workforce Training and Inducement Programs
Research Development/Technology Programs
Financial Support Services
Small Business Assistance
Florida has been in the top four states in population growth rates every decade as far back as the 1920's. The current total population is more then 19 million and is
expected to grow to 26 million by 2030.
The state's prime working age population has increased over 30 percent within the past ten years, and currently ranks 4th in the nation with over 10 million people.
Florida's per capita personal income rose nearly 20% faster than the nation's over the past two years.
Brevard County is ideally situated on Florida's east coast, midway between Jacksonville and Miami. It is directly east of Disney World on the ocean. Its coastal location
with beautiful beaches stretching for 72 miles, attracts millions of visitors per year who spend in excess of $2 billion.
The Brevard County economy has undergone a substantial transformation since the peak of the Kennedy Space Center construction program in 1969, when the local economy was
based largely on the space program.
The local economic base now includes manufacturing of electronic equipment and scientific instruments, the Space Shuttle Program at KSC, citrus production, agriculture and tourism.
Brevard County ranks among Florida's top ten counties in terms of:
Small Business Establishments
Labor force growth
Total prime working age (18-44)
The County is governed by an elected five member Board of County Commissioners. Viera is the seat of government with branch offices in Titusville and Melbourne.
Brevard is also known as a high-tech center of the Southeast. It is frequently referred to as the "Silicon Valley of Florida." With a large number of companies, a diverse
economic base and a highly skilled workforce the County is positioned for unlimited growth.