Even though COVID-19 put a huge pause on many activities in Florida during 2020, the state still managed to have an increase in capital investment. Focusing on the real estate and economic development industries within the rankings of the states that saw the most investment projects last year, Florida was ranked within the top 10.
The Sunshine state landed at No. 9 on this report by Site Selection Magazine, which is a huge leap from 2019, where they placed No.17. This is the biggest jump of any state within the top 10, since most states held their position or moved only by one spot. Florida saw 125 projects last year, which is two more than Pennsylvania, who is in 10th place, according to the report.
In order to qualify as a project, each had to have a minimum investment of $1 million, creation of 20 or more new jobs or 20,000 sq. ft. or more of new space.
This high ranking on Site Selection’s report, puts the state of Florida in the right direction. It is a great sign of the level of overall business investment that is within Florida. It is impressive that Florida was able to jump eight spots in only one year, the same year that included a pandemic that was chaotic for a lot of businesses. Because Florida was able to still be successful, even through COVID-19, it is hopeful that industries could also expect more incoming investment as 2021 advances and the economy recovers from COVID-19.
To read the full report of top 10 states for capital investment in 2020 from SiteSelection.com click here: https://siteselection.com/issues/2021/mar/the-2020-governors-cups-cover.cfm