Florida’s Unprecedented Economic Success
Bottom Line: Recently we learned Florida’s economy had become the 15th largest in the world. This was based on data from the Florida Chamber Foundation’s latest update. Florida’s GDP now exceeds $1.7 trillion annually, surpassing Spain and ranking just behind Australia. As impressive as it sounds for Florida’s economy to equal or surpass the economies of whole countries with far larger populations, that alone isn’t the most impressive aspect of the story. It’s how Florida arrived at possessing the world’s 15th largest economy. It happened through unprecedented post-pandemic growth.
The Florida Chamber Foundation’s Florida 2030 Halftime Report (a vision for the state the first outlined heading into this decade), they’ve highlighted these remarkable accomplishments for our state that’s led us to our economy’s worldwide rank.
Within the United States:
- No. 1 for New Business Start-Ups
- No. 1 Economy in the Country
- No. 1 Higher Education System
- No. 1 State for Manufacturing Job Growth
- No. 1 State for Net Income Migration
- No. 1 State for New Business Migrations
- No. 1 State for Black-owned businesses
- No. 2 State for Hispanic- and women-owned businesses
- Top 3 State for Business
It’s an incredible record that’s not showing any signs of reversing. In fact, Zohran Mamdani’s win in New York City is likely to continue to accelerate business migration into our state, aiding many of the other categories as well. It’s not a mistake that as Florida has risen to a top state for education in recent years, success has followed. For decades, one of the inhibitors for business growth within our state has been a dearth of talent. Commonly born and raised Floridians would leave the state either for college or after graduation seeking better career opportunities. The success in education has solved that issue leading to greater upward mobility, which is also noted within the report as well. To continued success...