By Brosda and Bentley Realtors
Florida continues to shine as a beacon of opportunity for businesses, earning the prestigious title of having the “best business climate” in the United States yet again. This accolade comes from top CEOs who recognize the state’s exceptional advantages, including a very low corporate state tax rate, the absence of personal income taxes, strong incentive programs, and an enviable lifestyle.
A Hub for Innovation and Industry
Leaders in various industries, such as tech, aviation, life sciences, and marine sectors, have long recognized Florida as a destination for business success. The state’s appeal has extended to foreign and multinational corporations, drawn to its welcoming environment and pro-growth policies. Florida’s warm climate, coupled with its business-friendly atmosphere and a skilled workforce, makes it a top choice for establishing and expanding businesses.
Hollywood, Florida: A Prime Business Destination
Among Florida’s many thriving cities, Hollywood on the Atlantic coastline stands out as a prime location for businesses. Strategically positioned between Fort Lauderdale and Miami along key transportation routes, Hollywood offers all the essential ingredients for business prosperity. The city boasts a built-in customer base and a flourishing retail market, with vacancy rates consistently below 4%.
Abundant Opportunities in Hollywood
With over seven miles of pristine beaches and easy access to international markets, Hollywood presents a myriad of opportunities for investors and entrepreneurs. The city’s commercial market is booming, with approximately 6.4 million square feet of office space available and an impressive occupancy rate exceeding 95%. Additionally, Hollywood ranks №9 on Forbes’ list of major cities with the biggest rise in home values, with more than 5,000 new residential units set to be completed citywide.
Investing in the Future
Hollywood is not resting on its laurels but instead investing heavily in its future. The city has earmarked over $500 million for capital improvement projects, including infrastructure upgrades and community enhancements. These projects include a new state-of-the-art police headquarters designed to meet the evolving needs of law enforcement and enhance public safety.
Thriving Job Market
Hollywood’s unemployment rate stands at a commendable 5.7%, below the national average of 6.0%. The city has experienced a 1.9% increase in job growth over the last year, with future projections indicating a robust 41.2% growth over the next decade, surpassing the national average of 33.5%.
Tax Advantages
Businesses in Hollywood benefit from favorable tax rates, including a sales tax rate of 6.0% and zero income tax rate, significantly lower than the national average. These advantages make Hollywood an attractive location for businesses looking to minimize their tax burden.
Real Estate Opportunities
With over $2 billion in private real estate investments planned or underway, Hollywood offers ample opportunities for businesses to establish themselves in a vibrant and growing market. The city’s housing market is also favorable for buyers, with an increase in the number of homes for sale and an average of 50 days on the market.
For established businesses, startups, and entrepreneurs seeking a strategic location for growth and success, Hollywood, Florida, stands out as an exceptional choice. With its business-friendly climate, strategic location, and ongoing investments in infrastructure and community development, Hollywood offers a compelling proposition for businesses across all sectors.
If you’re looking for a real estate agent in Miami, I encourage you to contact Brosda & Bentley Realtors. We’re here to help you find your dream home and make your life in Miami an unforgettable experience.
💎 Visit our Website: brosdaandbentley.com
📞 Contact Us: (305) 788–9393
