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Florida rises in CNBC business ranks, but workforce takes a hit

 
Published June 25, 2015

Florida's faster economic growth help land it at No. 16 in CNBC's new 2015 ranking unveiled Wednesday of "America's top states for business." The Sunshine State scores a solid B+, just breaking into the top third of U.S. states but rising sharply from lower CNBC rankings in previous years.

The good news is Florida rose from a No. 20 ranking in 2014, a No. 30 ranking in 2013 and a No. 29 ranking in 2012 in the CNBC listings, which consider 10 economic factors in determining the annual pecking order. Florida's impressive gain in 2015 was driven by its stronger economy (ranked 11th in the country) but was held back by relatively low ratings in the "cost of doing business" (31st) and "quality of life" (32nd).

These two factors, oddly enough, are the precise categories that Florida's political leadership most tout — cheap costs and sunny lifestyle — when purposely visiting high tax states to try and lure new business here.

CNBC also hinted at a rising weakness in Florida that has in recent years been viewed as a strength.

"The economy in the Sunshine State is glimmering again, but education issues are dragging down a traditionally strong workforce," CNBC said in summary remarks about Florida.

In 2015, Florida's workforce rated 19th, a precipitous decline from an impressive No. 3 showing in 2014 and a No. 4 rating in 2013.

These are the type of critical rankings corporate site selectors and sophisticated companies use to choose the best places for their next expansions.

Florida improved — significantly — but can still do better.

Contact Robert Trigaux at rtrigaux@tampabay.com.