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Governor DeSantis expressed his enthusiasm for the MOU signing saying "Florida is the national leader for business growth and economic development, and today's MOU signing will continue to ensure our state remains the model for American excellence. I am honored to stand today with MP Badenoch to strengthen the economic partnership between our state and the United Kingdom."
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The UK Secretary of State for Business and Trade Kemi Badenoch also commented on the MOU saying "Florida is a major economy in its own right, with a bigger GDP than most European countries. From launching satellites to developing the latest fintech software, Florida's leading high-tech companies offer huge opportunities to the UK's rapidly expanding tech sector. Today's signing shows our US state-level strategy is working and delivering for UK firms, giving them a competitive edge in some of the most exciting markets in the world and fundamentally helping to grow the UK economy. I want to thank Governor DeSantis and his team for helping to make this MOU happen."
As one of America's largest economies boasting a AAA credit rating, Florida has seen an influx of new businesses since 2019 with more than 2.6 million new businesses formed since then as well as having had highest net in-migration in 2022. The success of Florida's economy can be attributed directly to Governor DeSantis' commitment towards investing in workforce education, infrastructure as well as overall financial readiness.
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The United Kingdom is currently one of Florida's most significant economic partners with British companies accounting for more than 70,000 jobs in Florida making it top foreign investor in Florida. Each year, Florida companies supply a wide range of products including aviation and aerospace products which have seen an increase over last five years by 119%.
The MOU signed today will expand trade between both countries while promoting sustainable growth by safeguarding natural resources as well as increasing investment into emerging industries such as semiconductors or photonics between both countries. The five objectives set forth by this MOU are increasing trade between both countries; increasing bilateral investment; creating a forum to address possible barriers; fostering innovation; strengthening business links; growing academic research ties; facilitating opportunities for public & private investments & partnerships; participating in trade missions & joint projects & events etcetera
This agreement will further build upon an already strong economic partnership between both countries while providing new opportunities that will benefit both parties involved.
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