Few states can match the scale and scope of Florida's industry assets. Supported by the growth of a strong economy, thriving infrastructure, and a world-class workforce, there are nine key commercial industries in Florida. From growing aviation fintech and MRO groups to semiconductor and medical device manufacturing, Florida-based facilities are among the most innovative in the world. And they chose Florida to call home, where today's leaders commit to keeping business taxes and regulatory requirements low to continue paving the way for their success.
Florida is home to many geological and marine research centers, as well as nature conservation centers. It is also renowned for its biomedical, pharmaceutical and medical device research companies. The state is second only to California in the production of products for greenhouses and nurseries, and first in the production of indoor plants. After Hurricane Andrew in 1992, Florida began investing in economic development through the Bureau of Commerce, Tourism and Economic Development.
This led to the Scripps Research Institute (TSRI) choosing Florida for its expansion three years later. The United States has become a service economy and many states, including Florida, generate most of their revenues through service industries. The state has seven major ports: Port Tampa Bay in Tampa, Port Everglades in Fort Lauderdale, Port of Jacksonville in Jacksonville, PortMiami in Miami, Port Canaveral in Brevard County, Port Manatee in Manatee County and Port of Palm Beach in Riviera Beach. Since the development of NASA's Merritt Island federal launch sites in Cape Canaveral (most notably the Kennedy Space Center) in 1962, Florida has developed a sizeable aerospace industry. Governor Jeb Bush realized that Hurricane Andrew had a serious impact on Florida's core tourism industry. To attract companies from several key industries and sizes, the state has a strong economy, infrastructure and a competitive fiscal climate.
Cattle and milk are Florida's top livestock products. The state has 17.16 million acres (26,807 square miles) of forests, representing 50% of its total area. Cash flows indicate that Florida is at a disadvantage when it comes to automotive products due to foreign-manufactured goods having a strong impact on its global balance sheet. The state's exports include motor vehicles, computers and components, telecommunications equipment, aircraft, engines and parts, minerals such as gold, oil and gas, agricultural products, forest products, and seafood.