Find Out More About the Sarasota, Siesta Key and Bradenton Area
Economy & Job Market
Sarasota County is a special place. Our county offers a high quality of life and is consistently rated as one of the best places to live or start and grow a business. Yet, we also have our share of economic challenges that must be addressed if we are to continue to experience the type of quality development and stable tax base that provide services to all segments of our population, and supports our community’s schools, parks, infrastructure and cultural amenities.
Sarasota County’s enviable lifestyle, with its small-town feel, superior schools and variety of recreational and cultural offerings, means people want to live and work here. Sarasota County’s educated and creative workforce is diverse enough to satisfy both new and expanding businesses.
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more than ½ the adults over the age of 25 have continued their education at the college level |
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Almost half of Sarasota County’s population is in the prime working age range of 25 to 64, a labor force of 160,000. Adding the labor pool from bordering Manatee and Charlotte counties brings the total to nearly 350,000 |
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Workforce development is a top priority in Sarasota County. Local and state governments understand the importance of providing education and training for people who are underemployed. |
Sarasota and Florida offer real tax advantages for companies relocating or expanding here. Tax incentives include:
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No Florida personal income tax—guaranteed by Florida’s constitution |
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No annual franchise tax on stock or equity |
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No tax on inventory or goods in transit |
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No state level ad valorem tax |
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County property tax millage rate is among Florida’s lowest |
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Low 5.5 % corporate income tax rate, with $5000 exemption (S corporations are exempt from Florida income tax) |
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No sales and use tax on the labor component of qualified research and development |
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Limited sales and use tax on purchases of industrial machinery used in an expanding manufacturing facility after a $50,000 threshold of sales tax is paid |
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Utility Sales Tax Credit for electricity charges used in manufacturing |
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$25,000 homestead tax exemption |
Sarasota is blessed with an incredible inventory of visitor assets, more plentiful and diverse than most destinations of similar size. Its unique identity is recognized by such well-known travel guides as Frommer’s, which details in glowing terms: “Far enough away from Tampa Bay to have an identity very much its own, Sarasota is one of Florida’s cultural centers. In fact, many retirees spend their winters here because there’s so much to keep them entertained and stimulated.”
Desirable assets include:
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Deep Supply of arts and cultural attractions and performance venues |
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Emerging science and nature appeal |
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Unique, high-quality dining and shopping |
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Strong mix of accommodations |
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Impressive visitor demographics |
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High incidence of repeat business |
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Ability to weather tough times |
While culture and the beaches have endured as historic draws, Sarasota County is experiencing growth in the science and nature niche. Truly unique attractions that focus on indigenous aquatic and land-based wildlife are becoming significant draws for the area, including impressive state and county park lands that offer unique ecocourism experiences, the Mote Aquarium—even the Pelican Man’s Bird Sanctuary where visitors can view 55 species of the giant Gulf Coast Wonder and Imagination Zone (G.WIZ) and the Marie Selby Botanical Gardens handsomely add to these niches’ offerings.
Our Emerging Sports Market
Sarasota County has discovered that the sports market can be a viable source of visitor revenue. The community has begun to experience success in attracting such groups as baseball and soccer competitions to the community, as well as the famous Offshore Races, primarily through local volunteer efforts. The advantage to these groups is that their impact is quite significant, generally drawing large average travel party sizes, comprising a high ratio of spectators to participants and often attracting the groups during the times of the year when many aspects of the Sarasota County visitor industry are suffering from low visitation levels.
High Quality Dining and Shopping
With more than 60 seafood restaurants alone, Sarasota County boasts an immense array of unique eateries, providing the visitor with the type of dining experience they typically seek. What’s more, most are one-of-a-kind, with very few chain establishments in the inventory.
Equally distinctive is the Sarasota County shopping experience. In Sarasota, shopping is entertainment.
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