Florida's economy is expected to be exceptional for the next 30 years

Florida’s economy is expected to be exceptional for the next 30 years

Bottom Line: By now we’ve come to expect a few trends over time in Florida. More people, more traffic that comes with them but also a better economy that continues to mature in time. The greatest advances in Florida’s economy over the past five years have come not just with the jobs added; save the Great Recession that’s been part of a steady pattern along with Florida’s population boom, but the maturing of industries. Florida’s far from just the tourist and service sector economy that it largely was until recently. It’s that transition that has Florida poised to become the best growth story in the country over the next 30 or so years. 

The University for Central Florida’s just released economic forecast for Florida, covering 30+ years, tells a story that just gets better with time (likely save the traffic congestion). Here are a few of the highlights from the research report. 

  • Florida’s economy will continue to grow at over 3% per year for the foreseeable
  • Florida’s economy will grow by 250% over the next 30 years (likely making it a top three economy in the country and top 20 economy in the world)
  • Housing and retail will benefit substantially from the continued population influx and above average growth of Florida’s economy

Again, aside from the traffic, it’s hard to find something not to like in this research. The only potential fly in the ointment would be negative change in policy in Florida, i.e. taxes, that would cause people and companies to reconsider our state. Politics matter, so remember that come voting time. In the meantime, there’s nothing but optimism in store for our state. 

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