Israeli-founded companies are playing a major role in Florida’s booming economy, contributing $7.3 billion in earnings and creating more than 26,000 jobs, according to a new study by the United States-Israel Business Alliance (USIBA).
The Florida–Israel Economic Impact Report, based on 2024 data, found 429 Israeli-founded companies operating in the state, directly employing 8,190 Floridians. When indirect job creation through supply chains and household spending is included, that number triples to 26,510 jobs.
“There are several important factors that have contributed to Florida’s economic boom,” said Aaron Kaplowitz, USIBA President. “This study affirms that Israel is one of them.”
Employees of Israeli-founded firms earn 12% more than the Florida state average. In Miami-Dade County, these companies are responsible for $6 billion in gross output, accounting for nearly 3% of the county’s GDP, with wages 18% higher than the local average. In Orange and Palm Beach Counties, average earnings at Israeli firms are up to 51% higher than local norms.
The economic impact is concentrated heavily in South Florida, particularly across Congressional Districts 24, 26, 27, and 22, which together account for over 86% of the jobs created.
Israeli businesses are not only creating jobs but also leading innovation across key sectors. Two Israeli-founded unicorns, Flow and Momentis Surgical, have set up in Florida. The report highlights deep-sea passenger transportation as the top economic sector, with promising growth ahead in space, life sciences, and defense industries.
Companies like drone developer Percepto, space tech firm StemRad, and medical innovator Memic are among many Israeli-founded enterprises boosting Florida’s economy. Additionally, Israeli aid teams have supported Florida during disasters like Hurricane Fiona and the Surfside building collapse in 2021.
“Florida and Israel are just scratching the surface of their bilateral economic development potential,” Kaplowitz emphasized.