When considering immigration, where you are going to end up is just as important as how you are going to get there. Every state in the U.S. has its own unique and wonderful qualities, but few stand out more than the great state of Florida. This sunny state is home to CTP’s headquarters, located in the city of Tampa, which recently ranked eighth (Redfin Data) most attractive city in the U.S.A. where people are looking to move in 2020.
As a blossoming metropolitan area, Tampa Bay is full of opportunity, optimism, and open-mindedness. Along with low unemployment, welcoming job opportunities, and a housing market that can satisfy any homebuyer’s needs, Tampa is home to MacDill Airforce Base, where the headquarters of SOCOM and CENTCOM operate. In addition, the city’s own University, University of South Florida, ranks in the top ten percent of campus diversity with over 50,000 students from over 120 countries.
The Tampa Bay Area is also home to many sports teams. Three teams compete at the major league level. The Tampa Bay Buccaneers play in the National Football League (NFL), the Tampa Bay Lightning play in the National Hockey League (NHL), and the Tampa Bay Rays play in Major League Baseball (MLB). Currently, Tampa is the best sports city in the United states, winning the NHL Stanley Cup Finals, playing in the MLB World Series, and heading to the 2021 NFL Superbowl Championship game.
The white sands and blue waters of our beaches are the foundation of a tourism industry that brought over 120 million visitors, with 10% traveling from overseas. Just outside of the heart of downtown, Port Tampa is Florida’s largest port, handling nearly 40% of all cargo in the state. The economy continues to flourish as 19 corporate headquarters produce over $1 billion dollars in annual revenue, making Tampa the location of choice for companies from over 40 nations. It is no surprise that the Tampa Bay region is one of the most livable places in America.
The Great State of Florida
In its entirety, the state of Florida has a flourishing economy, no state income tax, white sandy beaches, and world class theme parks. Here are a few reasons why Florida is an excellent place to live and how it can accommodate the needs of EB-5 investors:
1. No State Income Tax: In Florida, there is no State Income Tax. This state is one of a select few states in the entire country that does not impose any state income tax. That lack of income tax at the state level is a massive draw for many individuals and businesses in Florida, as it means that your monthly salary goes a lot farther than it might somewhere else in the country, such as New York or California.
According to the Hill Finance, a $100,000 salary would only be equivalent to $87,000 in New York. In Florida, the same $100,000 is worth roughly $101,000. Tally up the totals and it’s easy to understand why so many people choose Florida over New York. At the end of the day, the price of staying in New York is nearly double that of Florida.
2. Weather: Did you know that out of the 365 days each year, 200 of them are sunny in Florida? The warm and pleasant year-round weather is one of the Sunshine State’s signature features. People who live in southern Florida will go the entire year without needing to put on so much as a sweater. Due to the warm climate, Florida residents spend more time outside in the sunshine— a proven way to boost mental health and physical health thanks to Vitamin D from the sun.
3. Diversity: Another great feature of Florida is its diverse culture. When it comes to people from all backgrounds and walks of life, there are so many in Florida who have come from all around the world to enjoy the state’s bounteous beauty. One in five residents in the state was born in another country. Together, the 4.5 million immigrants in Florida make up more than a quarter of Florida’s labor force, generating $7.1 billion in business income in 2018. As neighbors, business owners, taxpayers, and workers, immigrants are an integral part of Florida’s diverse and thriving communities and make extensive contributions that benefit all.
These are just some of the reasons that people across the United States (Mass Numbers of New York Residents Fleeing to Florida for Lower Taxes) and around the world (Where do the Wealthy Come from and Where are They Headed?) are choosing to relocate to Florida. Whether you decide to live here or someplace else, we want to make sure that our EB-5 investors find a place that they can call home. If you’d like to learn more about how our group can assist you in determining whether the U.S. EB-5 program would be a good fit for you and your family, please contact us here or email us at info@christiantylerproperties.com.