Every good reason to do business exists in Cape Coral. A favorable tax climate, advanced logistics, educated workforce, affordable housing and desirable destination are some keys to the city’s thriving population and economy.
Favorable Tax Climate
Cape Coral garners many national rankings as a top U.S. city for population and economic growth. Florida’s pro-growth tax structure is one key reason. It includes:
- No personal income tax (guaranteed by constitutional provision)
- No corporate income tax on limited partnerships
- No corporate income tax on subchapter S-corporations
- No corporate franchise tax on capital stock
- No state-level property tax assessed
- No property tax on business inventories
- No property tax on goods-in-transit for up to 180 days
- No sales and use tax on goods manufactured or produced in Florida for export outside the state
- No sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging
- No sales/use tax on co-generation of electricity
Cape Coral is Florida’s 8th-largest city, and the largest between Tampa and Miami. Its population of 200,000 is only halfway to the city’s anticipated build out. An array of quality higher education and technical training partners also ensure Cape Coral has the talent to satisfy all workforce needs. More on the rankings:
No. 1 projected real economic growth for 2019-2021 (5.1 percent annually) – Forbes / Moody’s Analytics, October 2018
No. 2 projected job growth – Forbes / Moody’s Analytics, October 2018
No. 2 or Best in Nation expected job growth for multiple quarters in 2018 and 2019 – Manpower Group Employment Outlook Survey
No. 7 population growth (Cape Coral-Fort Myers MSA) from 2010 to 2018 – U.S. Census Bureau, April 2019
While Cape Coral ranks 8th in Florida in population, it is in the top five in physical size at 120 square miles. Point being? The relatively young city’s growth and affordability remain relatively strong. Cape Coral’s median housing price remains below or near the national median, helping the city receive a No. 3 affordability ranking in Florida in July 2019 from MarketWatch.
Simply put, we live where others vacation. Sunshine, beaches, beautiful weather and magnificent ecology and wildlife all contribute to a work/life balance that’s tops in the nation. Sample these attributes and rankings:
Cape Coral enjoys an average of 266 days of sunshine a year.
Cape Coral boasts an endless array of outdoor and ecotourism opportunities. Hiking, biking, birding, boating, paddling and fishing all are world class. Parks, preserves and 400 miles of salt and freshwater canals, more than any other city in the world, are popular launch points to the city’s splendid outdoors.
- Cape Coral ranked first in Florida in WalletHub’s “Happiest Cities in America” in 2019. The ranking factors in physical and emotional well-being, income and employment and community and environment.
- The barrier island beaches that border Cape Coral on Sanibel and Captiva regularly rank among the best in the world.
- The Cape Coral-Fort Myers Metropolitan Statistical Area ranked No. 3 in Florida in 2019 in U.S. News and World Report’s Best Places to Live.
Cape Coral is uniquely positioned to capitalize on an extensive statewide infrastructure that makes Florida a major global hub for business with Europe, Latin America and more. The city is only two hours – in either direction – on Interstate 75 from major deep-water shipping ports in Miami and Tampa. It is three hours from three of the nation’s busiest airports in Miami, Fort Lauderdale and Orlando. Multiple high-speed data transmission hubs also bring Florida acclaim as one of the world’s top five telecom centers.
In its immediate backyard, Cape Coral is less than 30 minutes from two airports with growing national and international passenger counts. Southwest Florida International Airport in Fort Myers ranks in the top 50 U.S. airports for passenger traffic. Punta Gorda Airport just north of Cape Coral ranked No. 1 on OAG’s list of medium-sized airports in the “Low-Cost Collaborators” category with an 11 percent growth rate in 2019.