From the January/February 2026 Issue
Florida’s economic landscape continues to show strong momentum, driven by population growth, business formation, job creation, and proactive state policy. Florida’s economy is now one of the largest in the United States—with gross domestic product (GDP) nearing $1.8 trillion. Job growth remains robust across sectors, with private-sector employment increasing consistently and Florida’s unemployment rate remaining below the national average, underscoring broad economic resilience.
FloridaCommerce plays a central role in targeting and promoting industries that offer high-wage employment, innovation potential, and export opportunities. While the official 2025 Florida Target Industry Report outlines numerous sectors that drive economic growth and diversification, one recent enhancement was the formal addition of Agricultural Technology (AgTech) as a state target industry—signaling Florida’s commitment to innovation in food systems and technology. Other longstanding target industries in Florida—traditionally including aerospace and aviation, life sciences, information technology, advanced manufacturing, clean technology, global logistics, financial and professional services, and defense and homeland security—continue to attract capital investment and jobs under state economic development strategies.
Florida’s business climate is supported by low taxes (no state personal income tax), strategic workforce development, and fiscal policies that prioritize competitiveness and infrastructure investment. The state also ranks highly for workforce attraction and development.
Leadership in Florida has highlighted these achievements. Governor Ron DeSantis stated in early 2025 that “Florida continues to prove that leadership and conservative fiscal policies drive success,” pointing to job and workforce growth as evidence of effective governance.
Florida Secretary of Commerce J. Alex Kelly echoed this sentiment, noting in a year-end review that 2025 “strengthened Florida’s position as the most business-friendly state in the nation—supporting small and emerging businesses, accelerating growth in key industries, expanding workforce training and reinforcing our role as an international hub for investment and innovation.”
Taken together, Florida’s 2025 business climate reflects a state actively shaping its economic future: aligning targeted industry focus with real-world growth trends, investing in workforce readiness, and sustaining an environment that attracts both entrepreneurs and larger capital projects.
Greater Fort Lauderdale: Aviation, Pharmaceutical & More Show Continued Growth
Beyond its ideal location at the heart of South Florida, exceptional quality of life and strong business climate, Greater Fort Lauderdale/Broward County offers compelling advantages for companies looking to grow and invest.
Some of the recent announced projects in this region include:
- Lupin, a global pharmaceutical leader, will construct a new pharmaceutical manufacturing plant in Coral Springs, which will anchor the company’s U.S. production of critical respiratory therapies and generate more than 200 new long-term skilled jobs by 2030 in Broward County. With a projected cumulative investment of more than $250 million, including research and development, infrastructure, and capital investment, Lupin’s new state-of-the-art Coral Springs facility will have the capacity to accommodate the production of more than 25 critical respiratory medicines, diversifying the supply chain, strengthening domestic manufacturing, and enhancing medicine security and affordable, reliable access.
- CTS Engines, a worldwide leader in mature aviation engine maintenance, opened its new 216,000-square foot Maintenance, Repair, and Overhaul (MRO) “Engine Hub” facility in Coral Springs in Fall of 2025, which will serve as the company’s global headquarters and more than double its space and output capacity. The company was assisted by the Alliance in 2025 in creating 41 new high-skill jobs and making a capital investment of $2.5 million. This is in addition to the company’s initial $17 million expansion, announced in 2024, which created 125 jobs.
Said CTS Engines CEO Bill Kircher, “This is the only new engine center in the world purpose-built to overhaul, repair, and test legacy engines. With a total capacity of up to 200 engines a year, this facility and the CTS team are focused on supporting our global customer base, both commercial and military, with world-class quality and turnaround times.” - Fly Legacy, a pilot training company, relocated to a new 3,000-square-foot classroom, office, and hangar space at a Sheltair facility in Pompano Airpark in Pompano Beach.
- NakAI Robotics, an Israeli manufacturer of autonomous robots for commercial ship hull inspection and cleaning, is opening a new 2,000-square-foot manufacturing facility in Fort Lauderdale, creating five new jobs and investing $300,000.
- Ryzhka International, a Service-Disabled Veteran-Owned provider of lubricants and fuel oil in both bulk and package quantities to government, commercial and maritime industries, transformed a former gas station site into a new 5,000-square-foot office in an Opportunity Zone in Lauderhill.
“We are thrilled to continue our incredible momentum and mark yet another exceptional year for key sector growth in Greater Fort Lauderdale, including aviation MRO and pharmaceutical manufacturing, and the high-value jobs they support,” said Bob Swindell, President and CEO of the Alliance.
“This year’s leading company expansions and relocations in Broward provide further testament to our business-friendly infrastructure and incredible talent pool, as well as Greater Fort Lauderdale’s appeal as one of the nation’s top-ranked places to live and thrive in business,” he added.