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In 2023, more firms migrated to Florida on net than any other state

October 24, 2024

In 2023, net firm migration, at 503 firms, was highest in Florida, as 1,000 firms moved into the state and 497 left the state. By contrast, net firm migration was lowest in California, which had 601 firms move into the state and 1,134 firms leave the state, resulting in a net loss of 533 firms.

Net firm migration by state

2023
Net firm migration by state
State199419951996199719981999200020012002200320042005200620072008
Alaska-606-4-1-3-4-1333-1-4-4-4
Alabama8-318-11292-115289210139
Arkansas8-52-4-7-77-13-13720265
Arizona557571514810391031451950263-3
California-228-142-139-17-2553462925-39-28-70-89-107-67
Colorado55383129-6-181519-7-4-132435-5
Connecticut01707-42710960152222322022
District of Columbia-80-65-55-69-19-25-1-32-34-43-31-24-22-38-15
Delaware11532-82-61-5713913-31
Florida84805333661135185143103138106100-1-18
Georgia-214312-9-164-44-30-16-12-181522
Hawaii4010-7-61246-111759
Iowa-19-140-3-8-1-10-2-94116128-6
Idaho2719161813106-4103211204315
Illinois-76-85-92-77-61-46-31-74-15-59-80-85-77-44-76
Indiana46254177783-101420-2-14-6-9
Kansas103115142915-321-3-5921307
Kentucky-4212-218200-3513-31161624
Louisiana-51-20-19-16-14-63-23-6-8-3-43-2619
Massachusetts1-23-16-28-25-27-39-6-48-24-54-35-5-5114
Maryland1418132-3-719-19407-317-28-13-10
Maine-6-72810816208517-27-10
Michigan-17-3-1834-925-60111-4-9-9-8
Minnesota-15-24-9-19-10-26-18-23-31-332-2310-3032
Missouri-7-48-24-12-25-21-35-35-195-1-14-1309
Mississippi12101619-5122532116468-114
Montana1311152711213210719-6911
North Carolina275338523601019384411148810961
North Dakota4310-5-30-133-1-3-1-7-4-1
Nebraska503-5-10-18-3-161-7-8-5-2-127
New Hampshire2015016101422-1201513-811-1
New Jersey112399-34212692949331126502639
New Mexico1441-7-91719711-2-11661219-5
Nevada432727372623-819841925-11-10-34
New York-133-169-180-135-125-137-166-79-213-168-152-163-193-142-195
Ohio4-40-4-46-20-27-20-3-15-484-15-33-25-38
Oklahoma5-90-480-14-214-9-89-11-4
Oregon156160-2-11-2425-121-10-62-40
Pennsylvania-28-10-1-130-119212910-11813-7-11
Rhode Island-4-96-2-1-7-21004-9-6-12-3-12
South Carolina31213141355520190462340344250
South Dakota450890734620-17-1
Tennessee11313505101026170-1745296242
Texas-30-14-169-16-6-466-1894-32406030
Utah19010616-10-5-18-1913-38-14-29
Virginia6641429-129-58-1420913-27-211
Vermont1-3285-4-66-4272-752
Washington11618-13-20-8-321416317262251
Wisconsin2734458301015-421271922245
West Virginia-4-3-14-11-3-4-72-17-6-6-25-2
Wyoming81408-4013-14-3-2-113-1215
Net firm migration by state
State200920102011201220132014201520162017201820192020202120222023
Alaska-4-6-9122-3-111-42-51-4-6
Alabama260-3-123-6179-4842-13182
Arkansas019-110-6-6-13-1-1212227922
Arizona119-1217-1523222746365578438948
California-54-491-596520-104-70-57-65-209-165-445-741-533
Colorado3-321791938116263-19-15-51-58
Connecticut27-405110167-15257-3-275284934
District of Columbia-23-8-36-1-13-5-36-4-30-33-48-26-36-52-34
Delaware7-111075-3-2-10-1-14211162113
Florida-556585731001451241641397085196399623503
Georgia6-11-58-15-20-625-33-3-249-131422-20
Hawaii10-2-28-1-39-1418-2-16148
Iowa-26-31810-313-8-18-9-12-70-3-1
Idaho97-8-7-42392749264753675639
Illinois-15-38-68-64-82-60-58-62-110-102-137-155-209-260-218
Indiana16218-17-17-318-15-12-10-1620190
Kansas20-112-81057-16-24-3-97-10-1616
Kentucky-97427-8-1-13-4913130617
Louisiana138-182-7-141210-141-3-3-20-9
Massachusetts-6-32-379-12-15-4127-11-17-28-15-36-70
Maryland-47-16-321907-16-36-13-14-9-28-45-79-84
Maine-3110-1-210-2-510-51416161913
Michigan-50-2-18-2374397141238-3412624
Minnesota-35-201-16-13-36-15-85-6-130-7-4420
Missouri-13-14-23-5-33-27-24-526-277-5-28-33-10
Mississippi80711-2-10-85-1001151815-9
Montana-6202-6-2313121410135306
North Carolina5912263624131819-164041731447051
North Dakota1292825261-15-38-6-95-10-52-5
Nebraska-6-16-90-127-17-10-182-2-15-12-4
New Hampshire418-96-82-616147112310279
New Jersey996314-323-815357163877688-6-11
New Mexico-811-24-16-1-1-20-148-12-2
Nevada1912-3161510-35339444859881225
New York-147-138-109-126-154-192-169-249-265-233-269-278-486-447-278
Ohio-7-24-21-30-38-16-651-354145235
Oklahoma221-167-1-4-8-17-36-810-225
Oregon41237-1-3-2426-1-1421-3-2233-56-8
Pennsylvania-1210-37414-10-20-4-19-3110-3-30152
Rhode Island5-2-12-1358-12-11-1480012
South Carolina3526202944574651686474136074149
South Dakota51013417-3-4181-3121423-4
Tennessee18191426173144525732535092160158
Texas69544234326474535872515999187125
Utah6-2-163-12-1782-147-2-31574
Virginia-12218-11-13-381126-225-32-19-270-22
Vermont-4-49-55-8-2-6-2-48-112116
Washington155-6-3-34334419451761321812117
Wisconsin-4001285-9493991026645
West Virginia11-5-217-1-404-6-3-11-11
Wyoming-8-2-94-7-21-11049-57-3

Over the last 30 years, Florida has generally been a top recipient of migrating firms. Over the same period, New York has lost the most firms to migration.

These data are from the Business Employment Dynamics program.  To learn more about firm migration in the United States, including the methodology used to develop these data, see “Firm migrations in the United States: magnitude and trends”.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, In 2023, more firms migrated to Florida on net than any other state at https://www.bls.gov/opub/ted/2024/in-2023-more-firms-migrated-to-florida-on-net-than-any-other-state.htm (visited February 18, 2025).

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