Although not many leading banks are located in the state, most of the country’s largest financial companies have extensive operations in Florida.
Florida, whose population is one of the richest in the country, has the highest percentage of bank deposits placed in banks with a head office outside the state.
Taking advantage of Florida’s business-friendly legislation, favorable tax climate and large market, financial, insurance companies and professional services firms account for 9% of the state’s employment, with almost 135,000 firms employing more than 900,000 Florida residents.