Florida’s Economy Soars with Israeli Business Growth

News Summary

Florida is experiencing a significant economic boost from the rapid growth of Israeli-founded businesses, which have invested $1.8 billion and created over 8,000 jobs. The Miami-Dade area, in particular, benefits from this influx, highlighting the diverse sectors these companies operate in, including technology and healthcare. The collaboration between local and Israeli firms, supported by the strong expatriate community, paves the way for a thriving hub of innovation and economic prosperity in Florida.

Florida’s Economic Boost: How Israeli Businesses Are Thriving

Miami, the sun-soaked gem of Florida, is enjoying a remarkable boost to its economy thanks to the **_incredible growth of Israeli-founded businesses_**. A fresh report from the United States–Israel Business Alliance has thrown a spotlight on how these companies are not just sprouting up but are actually making a significant economic impact in the Sunshine State. It’s been discovered that Israeli businesses have pumped in a whopping **_$1.8 billion_** into Florida’s economy, proving once again that business knows no borders!

Job Creation Galore!

One standout statistic is the sheer number of jobs Israeli-founded firms are creating. It’s estimated that about **_429 Israeli ventures_** across Florida have collectively created **_8,193 direct jobs_**. That’s right; many Floridians are gaining employment opportunities thanks to these entrepreneurial professionals from Israel. In fact, it’s hard to miss the significant economic ripples; direct jobs from these businesses have translated into more than **_$800 million_** in compensation for residents across the state.

And here’s where it gets even more interesting: approximately **_two-thirds of these jobs_** are centered in Miami-Dade County. That area alone is raking in over **_$6 billion_** in gross output, and it’s no wonder the average salary for jobs created by Israeli companies there stands at **_$72,400_**, which is **_18% higher_** than the county average. This really elevates the job market for the people here.

Exploring the Sector Landscape

So, what kinds of businesses are these? Israeli companies in Florida primarily operate in six significant sectors: **_deep-sea passenger transportation_**, **_restaurants_**, **_residential property management_**, **_printed circuit assembly manufacturing_**, **_office administrative services_**, and **_hotels_**. It’s clear that these businesses are not only diverse in nature but are also catering to various aspects of daily life in Florida.

Space Exploration on the Horizon

As if that weren’t enough, Florida’s rich assets in the space industry, like the **_Kennedy Space Center and Cape Canaveral_**, are catching the eye of Israeli space companies. A collaboration between Space Florida and the Israel Innovation Partnership is already in the works, resulting in funding for projects focusing on essential research, including radiation protection in space. This is the kind of forward-thinking endeavor that keeps Florida on the cutting edge of technology!

Unicorn Startups and Local Accelerator

Florida isn’t just home to any Israeli businesses; it boasts two Israeli-founded unicorn startups: **_Momentis Surgical_** and **_Flow_**. Additionally, a company called Insightec, specializing in advanced medical devices that use focused ultrasound for neurological treatments, is adding to the vibrant innovation scene here. With the Florida-Israel Business Accelerator (FIBA) firmly in place since 2016, the connection between Israeli tech companies and U.S. markets has strengthened significantly. More than **_90 Israeli companies_** have leveraged FIBA’s resources, raising over **_$1 billion_**, with several expanding their operations right into Florida.

A Community Connected

The large **_Israeli expatriate community_** in Florida only furthers these strong business ties. Known among the world’s largest, this community serves as a bridge for Israeli firms trying to tap into both the U.S. and Latin American markets. Florida’s commitment of **_$1.1 million_** annually to facilitate collaborative research and development between U.S. and Israeli companies, matched by the Israeli government, only proves that these partnerships are set to flourish for years to come.

Isn’t it amazing how a different part of the world can contribute so much to local economies right here in Florida? With the continual growth of Israeli businesses across the state, it’s clear that the South is not just a vacation destination anymore; it’s a **_thriving hub for innovation and economic prosperity_**!

Deeper Dive: News & Info About This Topic

• Times of Israel: Israeli-founded firms flock to Florida
• Calcalist Tech: CTech News
• Refresh Miami: Florida-Israel Business Accelerator
• Florida Trend: Ties to Israel
• Encyclopedia Britannica: Florida