When it comes to business, both Florida and Texas have a lot to offer. According to a survey, Florida scored 8.38 in taxation and regulation, 7.11 in workforce quality, and 8.16 in the living environment. Although Texas ranks first overall, Florida outperforms Texas in many of these categories. Plus, the cost of living in a city you want to live in Florida may be cheaper than a city you want to live in Texas.
Both states are also characterized by affordable housing compared to other states with large economies. When it comes to healthcare, Texas has an advantage over Florida. According to statistics from the National Oceanic and Atmospheric Administration (NOAA), you would have a slightly higher chance of daily sunshine in Florida than in Texas. In terms of transportation, both states have plenty of airports for traveling within the state and beyond. However, if you're looking for cooler weather, you'll have to endure an extra month of heat in Texas compared to those in Florida that are already preparing for fall. If you're looking for a more affordable home that will improve your quality of life, then Texas would be the better choice.
Due to the generally warmer weather, you can expect higher utility costs in summer in both Texas and Florida. But when it comes to natural disasters, Florida is more prone to them than Texas. In terms of taxes, both states don't have personal state income taxes, which means employees can save on both housing and taxes. However, the tax burden is quite high in Texas with sales tax rates standing at a combined 8.19%. In Florida, you'll pay a little more than the average as the rating is 101.7% for that state and category. Overall, both states have their advantages and disadvantages when it comes to business.
Companies should consider all factors before deciding which state is best for their operations.