Leading the nation in job growth, Orlando is attracting some of the biggest names in business, creating thousands of high-wage, high-tech jobs in a region traditionally known for tourism. In fact, a majority of the labor force is employed in industries outside of leisure and hospitality. A full two thirds of a diverse, talented and educated labor force go to work every day in a dynamic spectrum of industries. Personal income tax is nonexistent and business taxes are the fourth lowest in the country. There are plenty of other reasons why Orlando is a great place to do business, here are some other factors to consider:
#1 Mega market status
Rooted in the center of the state with a workforce of more than 1.3 million people, over one in eight Floridian workers live within the Orlando region’s borders. As a workplace destination, Orlando offers abundant economic opportunity to residents and non-residents alike. Within a 60-minute commute from the Orlando region live almost 850,000 employees, making regional workforce integration attractive to employers and conducive to a scalable economy. This level of connectivity offers unparalleled educational opportunities as well, with 35 higher education institutions within the region and 500,000 students within a 100-mile radius. Orlando’s high-quality infrastructure has earned recognition as a top 10 “American Cities of the Future” by Foreign Direct Investment (FDI) Magazine. And it’s still growing with more than $15 billion invested in projects that include expansions and improvements.
#2 Infrastructure investments enhance quality of life
The tax revenue generated from tourism enables substantial infrastructure investments that enhance Orlando's quality of life. The region provides copious lifestyle options for residents through cultural opportunities, art, fashion, music, amateur and professional sports, and abundant recreational activities. From the Doctor Phillips Center to the Orlando City Stadium, Orlando’s infrastructure has seen massive developments over the past few years. Orlando’s Amway Center, home of the Orlando Magic and the Orlando Solar Bears, is named among the nation’s top sports venues. Because of the region’s robust tourism industry, residents also benefit from amenities including expanded options for dining, shopping and entertainment.
#3 Affordable air travel
With the high cost of airfare, the total yearly bill for flights can add up. Compared to the nation’s other busy airports, Orlando International Airport’s average fares are among the top ten lowest in the country at $250 per ticket. Compare that to Chicago ($308), San Francisco ($381) and New York ($394). This can translate into an annual savings of anywhere from $29,000 to $72,000 a year for an average of 500 flights. The Orlando region also boasts more than 175 non-stop destinations around the world, proving the region is fully equipped to meet and exceed the needs of any industry.
#4 Less obvious benefits of year-round sunshine
It’s a “no-brainer” that sunshine benefits the body and soul. It also happens to benefit workers, commuters and businesses. Good weather means road construction doesn’t come to a stand-still because of snow and ice. Projects get completed on time – even early in Orlando. Gas isn’t consumed in stop-and-go traffic, burning needlessly in idled cars. Speaking of gasoline, it’s cheaper in Orlando where the average cost per gallon is $2.06 - compare that to New York at $2.54, Chicago at $2.52 and San Francisco at $3.13 per gallon.
#5 Affordability to actually enjoy life
Grocery bills cost less, housing is affordable, and even vehicles are more economical. Orlando’s cost of living composite index of 95.8 is below the national average (100) and well below the index for Chicago (123.0), San Francisco (188.5) and New York (230.8). So now the only question is – what to do with all the extra dough?