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Florida has a long history of entrepreneurship in the late 1800s and early 1900s henry flagler and henry plant two railroad tycoons helped transform florida into a tourism destination this led to a surge in small businesses such as hotels and restaurants popping up throughout the state in the 1950s the space race brought a wave of technological innovation to florida with nasa establishing the kennedy space center in cape canaveral this led to the creation of a thriving aerospace industry in the state florida is the thirdmost populous state in the united states with a population of over 21 million people it is a peninsula located in the southeastern part of the country bordered by the atlantic ocean to the east and the gulf of mexico to the west the states geography includes beaches wetlands and forests making it a popular destination for touristsflorida is home to a variety of technological innovations including the creation of the first air conditioning system by willis carrier in 1902 the state is also a hub for aerospace and defense companies including lockheed martin and harris corporationflorida has been home to a number of successful startups including chewy fanatics and ultimate software chewy an online pet retailer was acquired by petsmart in 2017 for 335 billion florida is home to a number of major corporations including publix super markets nextera energy and fidelity national information services florida has been the site of many historic events including the cuban missile crisis in 1962 which nearly led to a nuclear war between the united states and the soviet union the state was also hit hard by hurricane andrew in 1992 which caused widespread damage and resulted in 26 deaths florida is home to a number of prestigious universities including the university of florida florida state university and the university of miami these universities have contributed to the states growing tech industry by producing skilled graduates who go on to work for local startups as of 2023 floridas minimum wage is 1100 per hour which is slightly higher than the federal minimum wage of 725 per hour the states unemployment rate is currently 47 as of 2021 the gdp of miamifort lauderdalewest palm beach metropolitan area is 14 tillion making it the eighthlargest metropolitan area in the united states by gdp florida has seen a steady increase in the number of new companies starting in recent years with a 44 increase in 2021 however the state also has a high rate of business closures with a closure rate of 53 in the same year overall floridas startup scene appears to be thriving the states low taxes favorable business climate and skilled workforce have attracted a growing number of startups in recent years however the state still faces challenges such as high business closure rates and a lack of access to venture capital funding compared to other states like california and new york in conclusion floridas startup scene is a complex and dynamic landscape with a rich history of entrepreneurship
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