“ Every opportunity must be vetted and evaluated , but if the return on investment is there it is a good investment ,” he said . “ The other driving issue is we are in constant competition with other states to attract new businesses , and many of those are offering large incentives . We need to focus on our target markets and be aggressive in recruiting quality opportunities for our residents .”
Maynard said starting a business is only the beginning , and the St . Johns Chamber offers several programs and services to help startups as well as existing businesses succeed .
“ Not only do we want new businesses to start , but we really want them to succeed ,” he said . “ The Chamber has a program called Pitch Factory that offers a seven-week program on starting a new business . We also work with the Small Business Development Center at the University of North Florida , which is a tremendous resource for entrepreneurs .”
In Palm Coast , Economic Development Manager Craig McKinney the WalletHub report confirms the growth potential for the state as a whole as well as in the region .
“ Florida ’ s tax system ranks fourth overall on the Tax Foundation ’ s 2025 State Tax Competitiveness Index ,” he said . “ Additionally , Florida ’ s 0 % personal income tax and 10th place ranking for lowest corporate taxes is highly attractive to individuals and businesses alike .”
Despite the conventional wisdom that the Sunshine State is a place just for retirees to enjoy their golden years , McKinney said workforce availability is a plus in the state .
“ WalletHub also noted that the working-age population ( ages 16-64 ) is growing faster in Florida than in all but six other states ,” he said . “ This is a vital asset to companies looking for states with workforce availability .”
In addition , Palm Coast has the advantage of location and amenities to attract business development .
“ Our strategic location on I-95 in northeast Florida offers a strategic advantage for all businesses , regardless of the industry ,” he said . “ Add that to an exceptionally high quality of life with 12 beautiful parks and over 130 miles of connecting trails and one of the longest continuous stretches of ( State Road ) A1A where drivers can enjoy uninterrupted views of the Atlantic Ocean , both are assets that sets Palm Coast apart .”
In Volusia County , Daytona Regional Chamber of Commerce President and CEO Nancy Keefer said quality of life combined with a businessfriendly environment makes the area attractive for entrepreneurs looking to start a new business .
“ The Daytona Beach region offers coastal living at an affordable price ,” she said . “ For businesses , this means that the quality of life is attractive to recruit workers and provide a great work , live and play environment .
Favorable tax policies also are a boon for startups and make Florida affordable for business growth , according to Keefer .
“ A state with no income tax is attractive to companies and Florida is considered a tax-friendly state ,” she said . “ Sales tax is generated from a strong hospitality and tourism presence thereby spreading the revenue across a larger demographic that helps fund services , parks and amenities to name a few , keeping residential taxes fairly low in comparison to most other areas .”
Keefer said organizations and governments in Volusia County offer a range of programs and services to help businesses succeed , which only adds to the state ’ s appeal as a place to do business .
“ With our universities and specifically , the number of incubators and support agencies working collaboratively to provide support to entrepreneurs and new startups , it ’ s very attractive to locate in the Daytona Beach , Volusia County area ,” she said . “ Volusia County Economic Development also leads a community stakeholder collaboration hub , Volusia Business Resources , to assist with businesses at any stage of their business . Their resource directory combines access to all partners in economic and business development making it easy to connect . Keefer said the Chamber also offers services tailored to the needs of all types of businesses .
“ Networking is still one of the most often used benefits of a chamber of commerce ,” she said . “ Entrepreneurs need a space to collaborate , and access to professionals who can guide them to success . We like to provide unique and customized approaches for entrepreneurs as each business is different and often in different stages of their business journey . Our new office space has also been attractive to startup businesses as well as established businesses with ample collaboration and gathering space for small- and medium-sized meetings .”
FEBRUARY / MARCH 2025 | 31 |