“Over 50% of the volume of deals that we are working on are foreign direct investment. Florida operates very much because of its FDI. And investment from our Japanese partners is of paramount importance to us,” said Laura DiBella, the deputy secretary of commerce at Enterprise Florida, a private-public partnership that acts as the state’s main economic development organization.
As the 6th-largest foreign direct investor in Florida, Japan contributes around $6 billion worth of capital investment and generates 22,000 jobs for Floridians. As part of long-term plans to strengthen the relationship with Japanese investors and increase international trade, Florida is increasing flights to and from Japan. Enterprise Florida received more than 200 leads from foreign investors considering doing business in our state last year.
Widely popular around the world as a tourism destination, Florida has already seen the number of visitors exceed pre-pandemic levels this year. “Our tourism is doing fantastic,” DiBella said.
DiBella attributes this recent boom in business to the “innovative environment” in the state. Investors, she said, have the freedom to operate their business here, minus the very strict regulatory environments that they perhaps were dealt with previously.
Having overcome the economic uncertainty that pushed Florida to adapt to the oft-quoted new normal, the state has emerged more confident and better equipped to provide a more conducive environment for growth, according to DiBella.
“We are here to expand each other’s economy, not only our own,” she said.
