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Florida has its tourism, but when it comes to the best of the best in thriving industries, it's all about mining, oil and gas.
Support activities for mining, with 21% annual sales growth, is the best performing industry in the country, according to a new survey from Raleigh, N.C.-based financial data firm Sageworks. Oil and gas extraction, the modern-day gold rush, posted a sales increase of 18.6% and a 16.3% net profit margin, the survey shows.
Other top 10 industries are riper for Florida entrepreneurs. Industries on that side of the list include: computer system design firms, with a sales increase of 15.7%; services to buildings and dwellings, up 14.2%; architectural firms, up 12.9%; and accounting firms, up 10%. Another industry on the list is like oil in North Dakota to Florida: Outpatient care centers, which posted a 9.8% sales increase and an 11.8% net profit margin.
“While private companies have seen sustained growth over the last several quarters, these are the 10 industries that outpaced the national average in both sales growth and net profit margin, which are 8.6% and 6.8%, respectively,” Sageworks analyst Libby Bierman says in a statement. “Looking at, arguably, the two most important financial metrics that we track, these industries are way ahead of the pack.”
Here's a glance at the top 10 industries nationwide:
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