Florida has definitely retired its retirement image and has become a haven for hard-charging, cutting-edge businesses.

The Sunshine State's economic diversity makes it a great place for entrepreneurs, technology businesses, services, corporate headquarters, and international companies. The fourth largest state in the nation, Florida provides a ready work force, favorable tax base, financial resources, international access, great transportation, ready infrastructure, and local and state agencies supportive of growth.

Much of the business growth is in the technology sector.

"Florida is the fifth largest cyber-state in the country, according to the American Electronics Association in terms of jobs, exports, and other key factors," said Sena Black, of Enterprise Florida, the state's economic development agency.

Like a quiet giant, the Florida High Tech Corridor dominates high-tech talk in the state. The Florida High Tech Corridor stretches from Tampa Bay and Sarasota on the Gulf Coast to Daytona and the Space Coast on the Atlantic.

More than 6,800 high-tech companies call the Corridor home, with more than 158,000 employees. Industries with a strong presence include aviation and aerospace, microelectronics, optics and photonics, information technology, simulation and training, modeling, and medical technologies.

Incentives for high-tech businesses include the qualified targeted industry tax program, a high impact performance incentive - matching sales tax rebate on R&D equipment - and corporate income tax exemption.

Research and development fuel technology companies. Florida is no different. Approximately $5 billion is invested in R&D each year in the state.

A strong military presence benefits the high-tech industry's growth.

"The Navy separates a significant number of people each year," said Jerry Mallot, executive director of Cornerstone Economic Development, the economic development arm of the Jacksonville area. "Many are in their early 30s and have administrative and technical skills that are in demand in the private sector.

"Their spouses also have excellent, marketable skills. They like the area and the quality of life. Many stay because of the growth of Florida's key industries."

The Navy closed Cecil Air Field, and then transferred control of the facility to Jacksonville in 1999. The city is developing it to attract additional aviation companies to the area. In January, a new Aviation Center of Excellence opened at Cecil Field.

Location offers opportunity

Florida's location, as well as a diverse, multilingual population, makes it the bridge between the Americas. The state's international merchandise trade volume averages $74 billion annually and the estimated value of the services it exports is $10 billion a year.

When it comes to international banking, Miami ranks second only to New York, with 56 foreign banks, 13 Edge Act corporations, and 33 U.S. commercial banks with international services.

Supporting international economic activities is a strong diplomatic contingent. Florida is home to 94 consulates representing 69 countries. Only Washington, D.C., and New York have larger consular corps.

These two factors help make Florida attractive to foreign investment. More than 1,100 foreign-based companies have a presence in the Sunshine State. This diverse group includes world leaders such as Airbus, Bombardier, Volkswagen Group, Porsche, Siemens, Toshiba, Sony, Christian Dior, Glaxo SmithKline, and Givenchy.

The state is also the chosen site for the Latin American headquarters of many U.S. businesses, including ChevronTexaco, IBM, Microsoft, Warner/Chappell Music, Visa International, Mastercard International, and Caterpillar.