Why was Florence considered the heart of the early Renaissance?

The Renaissance first began there, and as the Renaissance spread, Florence became a model for other places to copy. It was prosperous and a very wealthy city with numerous amounts of opportunities for trade. It was also a highly important banking center, and since it wasn't a port city banking became an important industry. It is in Florence that writers and authors became well known as well, so it is a very important place for Renaissance history.