Why Florida is the MedTech Manufacturing Hub You Haven’t Considered (But Should)
When most MedTech entrepreneurs think about where to build their next facility, the usual suspects come to mind: Boston for its biotech legacy, San Diego for its innovation ecosystem, Minneapolis for its device manufacturing heritage.
Florida? That’s probably an afterthought. Maybe something you’d consider for a satellite office, but certainly not for serious manufacturing.
Here’s what might surprise you: Florida is the second-largest medical device manufacturing state in the nation. Not third, not fifth—second.
We’ve watched this transformation happen over the past two decades, and now the opportunities are bigger than ever. The companies that recognize this shift first are going to reap the biggest rewards.
The perception of Florida as “less technical” is outdated and costly. While other states rest on their laurels, Florida has been quietly building something remarkable.
Florida’s Hidden MedTech Dominance
Let’s start with the facts that most people don’t know. According to the Bureau of Labor Statistics, Florida has the nation’s second-largest medical device manufacturing industry and the second-largest pharmaceuticals manufacturing industry. We’re talking about more than 2,200 life sciences establishments driving innovation across the state.
The ecosystem depth here is real. Florida universities spend nearly $1.5 billion annually on life science R&D. The state ranks fourth nationally in R&D expenditures by government. In 2022, Florida’s biopharmaceutical sector created $64.3 billion in economic output. These numbers are the foundation that companies like yours are already building on.
When clients ask us about resources and skilled labor, we point to this infrastructure. The talent is here, the research base is established, and the manufacturing ecosystem is proven.
Financial Incentives That Move the Needle
Here’s where Florida gets interesting from a financial perspective. While traditional hubs are raising costs and reducing incentives, Florida is actively investing in companies that want to build here.
The Capital Investment Tax Credit alone can provide annual credits against corporate income tax for up to 20 years. We’re talking about real money—not token gestures. For businesses making a cumulative investment of at least $25 million and creating a minimum of 100 new full-time jobs, this credit can significantly impact your bottom line.
The High Impact Performance Incentive program also awards grants to spur capital investment and job creation.
We’ve helped clients navigate these programs, and the difference between theory and practice is substantial. While other states talk about business-friendly policies, Florida writes checks.
Plus, the R&D Tax Credit program allows qualifying businesses to offset payroll taxes up to $250,000 per year—particularly valuable for startups with limited income tax liability. The Quick Response Training program provides state-funded grants for customized training to support new and expanding businesses.
But here’s the critical timing element: these incentives won’t last forever. Economic development programs evolve, and the companies that capitalize on today’s opportunities are the ones that will dominate tomorrow’s market. We’ve seen this cycle before, and the early movers consistently outperform the cautious observers.
Four Hubs Beat One Hub
Most states concentrate their MedTech activity in a single metropolitan area. Florida took a different approach, and the results speak for themselves.
Tampa has become a powerhouse for medical device manufacturing and corporate headquarters. Miami offers unique advantages for companies serving Latin American markets. Jacksonville provides logistics and distribution benefits with its port access. Orlando combines manufacturing capabilities with research partnerships from local universities.
This geographic distribution creates strategic options that single-hub states simply can’t match. Need specialized talent? You have four major talent pools to draw from. Supply chain disruption in one region? Your operations can adapt using resources from the other three hubs.
We’ve worked with clients who relocated from single-hub states, and the operational flexibility is game-changing. When a Boston-based client faced a critical supplier shortage, they were stuck. When our Florida clients face similar challenges, they have alternatives within driving distance.
The logistics advantages are equally compelling. Florida’s position provides efficient access to both domestic and international markets. The port infrastructure supports global supply chains, while the highway and rail networks facilitate distribution throughout the southeastern United States.
This diversification reduces risk while expanding opportunities. Instead of betting everything on one city’s economic health, you’re investing in a statewide ecosystem that can adapt to changing market conditions.
Success Stories from Companies That Made the Move
The companies that have already made the move to Florida offer a glimpse into what’s possible.
Arthrex built their global operations in Florida, using state incentives to become a world leader in orthopedic medical devices. They didn’t move to Florida “despite” the state’s incentives – they moved because of them.
TouchPointe has also shown how Florida’s ecosystem supports innovation. They’ve been able to access specialized expertise, navigate regulatory requirements, and scale manufacturing – all while enjoying the state’s business-friendly environment.
For another example, Johnson & Johnson chose Tampa for their new headquarters—and it wasn’t for the weather. Major corporations like this are responding to the fundamental business advantages that Florida provides.
Key Takeaways
The companies that are thriving in Florida today have one thing in common: they saw the opportunity before everyone else did.
In fact, that's the #1 thing we hear from clients who we’ve helped transition from traditional hubs to Florida operations: they wish they had made the move sooner. The combination of lower costs, better incentives, and operational flexibility creates competitive advantages that compound over time.
So before you write off Florida as an option, ask yourself three questions: How much are you paying in taxes and operational costs where you are now? What incentives are available to support your growth plans? How vulnerable are you to single-hub risks like talent shortages or supply chain disruptions?
Check Florida’s incentive eligibility for your situation. The programs we’ve outlined have specific requirements, but they’re designed to support exactly the kind of growth-oriented companies that are considering expansion or relocation.
The Florida Advantage is Real, But Timing Matters
Florida’s emergence as a MedTech powerhouse represents a fundamental shift in where innovation happens and where companies can scale most effectively. The numbers, incentives, and success stories all point to the same conclusion: Florida offers competitive advantages that traditional hubs can’t match.
At Concise Engineering, we’ve been part of this transformation for over 20 years. While other consultants talk about Florida’s potential, we’ve been helping clients capitalize on Florida’s reality. We’ve seen the landscape evolve and, frankly, we’ve helped shape it.
So the question isn’t whether Florida will continue to grow as a MedTech destination. That’s a done deal. The real question is whether you’ll be one of the next companies to see the opportunity—or playing catch-up 5 years from now.
Ready to talk about how Florida’s advantages apply to your situation? Let’s chat. We’ll help you sort through the details, calculate the incentives, and see if Florida makes sense for your growth plans.
Looking to dive deeper into MedTech entrepreneurship? My book “Medical Device Fireside Chats: Essential Conversations for Startup Success” offers comprehensive insights, strategy suggestions, and detailed discussions about what it’s like to work for years in the space. Order it here.
Justin Bushko
President, Concise Engineering
Next Steps
We hope you find this newsletter valuable and insightful.
If you have any questions, if you have feedback or would like to explore any specific topics further, please feel free to reach out to us.
Please email me at jbushko@concise-engineering.com or to book a call with me, click this link.
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