With nearly 34,000 tech companies generating over $83 billion in annual revenues, Florida‘s tech sector accounts for 9% of the state‘s entire economy. Sustained growth has been anchored by ubiquitous long-time industry leaders headquartered in the Sunshine State. Clearwater hosts Tech Data Corporation, whose $37 billion in 2021 revenues position it among the world‘s largest information technology distributors. Formed in 1895 under another name, defense contractor Harris Corporation drove development of communications and imaging technologies widely used by governments and militaries before merging with L3 Technologies in 2019.
Prominent Homegrown Tech Companies Driving Florida‘s Economic Engine
Although not initially recognized as a tech stronghold, Florida has birthed and headquartered an array of major tech corporations that drive sizable chunks of the state economy. St. Petersburg has been home to Jabil Circuit since CEO Tom Sansone founded the electronic design/manufacturing firm in his garage in 1966. Now generating over $29 billion in annual revenue and employing 260,000 worldwide, Jabil has been integral to production of leading electronics brands from Cisco, to HP, to GoPro.
Jacksonville serves as headquarters for banking/payments technology innovator Fidelity National Information Services (FIS), which has shaped point-of-sale and card processing infrastructure across retail and food franchises globally since its 1968 founding as Systematics. More recently, Tampa fostered security awareness training platform KnowBe4, which bootstrapped its way past $120 million in recurring revenue before going public in 2021. Homegrown firm Chewy.com also reached multi-billion dollar status operating the country‘s largest online pet supplies retailer from Florida.
Tech Giants Grow Florida Footprint to Tap Skills and Lifestyle
Increasingly, marquee technology firms are planting flags across Florida to leverage the state‘s talent pool and operating conditions. Both Google and Facebook have staffed specialized units in metro areas statewide, as Amazon continues expanding its tech workforce supporting cloud infrastructure beyond 5,000 employees. All told, the largest tech companies maintain nearly 100 Florida locations combined. JP Morgan Chase recently announced plans to establish a new 2,200 employee technology center in Tampa.
Orlando in particular has emerged as a hub for major firms, with Electronic Arts, Verizon Media and Canon Information Technology Services running large regional IT offices. As the metro‘s #1 tech employer, Apple houses thousands developing software/hardware technologies at facilities near the University of Central Florida. these operations complement homegrown health IT firm Greenway Health anchoring 500 jobs in Tampa and rapidly expanding satellite communications innovator L3Harris Technologies headquartered in Melbourne.
Tailwinds Driving Ongoing Tech Industry Momentum
With no state personal income tax and housing costs substantially below tech hubs like New York and Silicon Valley, Florida offers unique operating advantages that have drawn relocations from major investment firms like Blackstone. Florida‘s Technology Association highlights steady state policies nurturing tech sector growth, as Enterprise Florida has also provided targeted incentives to enable expansion.
Boasting nearly 380,000 tech workers across industries critical to Florida‘s future, technology roles increased twice as fast as the state‘s overall labor force between 2010-2019. Florida‘s network of 12 public universities supplies vital training in computing skills and specialized fields like modeling/simulation and optics/photonics pioneered at schools like University of Central Florida. UCF alone graduates over 9,000 STEM majors annually to feed key industries.
As pillars like the renowned quality of life, rapidly growing population over 23 million and friendly tax structure provide tailwinds, Florida‘s technology sector appears better positioned than ever to build on its maturation into an integral economic engine and magnet for investments by major corporations.
Spotlight: 5 Emerging Florida Tech Startups Driving What‘s Next
Beyond multi-billion stalwarts, fresh waves of emerging startups are shaping Florida‘s tech landscape and next phase of expansion.
Magic Leap (Plantation) – One of the most buzzed-about startups over the past decade, Magic Leap has raised nearly $3 billion to pioneer augmented reality glasses and technologies supported by the likes of Google and blockbuster creative partners like Disney.
Life Science Logistics (Jacksonville) – This rapidly growing biotech firm has scaled a platform providing cloud-based supply chain management software tailored to cell/gene therapy researchers and medical labs nationwide.
Universal Hydrogen (Daytona Beach) – Founded by veterans of SpaceX and Virgin Galactic, Universal Hydrogen is innovating modular hydrogen propulsion solutions to enable low-carbon flight across smaller regional airlines and aircraft OEMs.
Prescrypto (Miami) – Fresh off an $8 million Series A round, this healthcare startup enables encrypted clinical document sharing aimed at modernizing medical records privacy/security through blockchain.
Deligence Technologies (Tampa) – Capitalizing on pronounced industry demand, this insurtech firm sells risk management software forged by veteran insurance pros and engineers that streamlines back-end workflows.
