Florida’s $1. 8 Trillion Economy Ranks 14th Worldwide
Florida’s economy has grown to $1. 8 trillion, making it the 14th largest in the world, according to the Florida Chamber Foundation. The organization said Florida has surpassed Australia and Mexico …
Florida’s economy has grown to $1. 8 trillion, making it the 14th largest in the world, according to the Florida Chamber Foundation. The organization said Florida has surpassed Australia and Mexico in gross domestic product, marking progress toward its Florida 2030 Blueprint goal of becoming a top 10 global economy by the end of the decade. Florida’s economy grew 6. 3 percent over the past year, the foundation said. At its current size, the state would need about 2 percent additional growth to surpass South Korea and move into 13th place. Reaching the top 10 would require roughly 21 percent growth, with Canada currently holding the No. 10 position. Florida Chamber President and CEOMark Wilsonattributed the state’s rise to job creation, business investment and population growth. “Florida’s rise to the world’s 14th largest economy is part of ourFlorida 2030 Blueprintplan and further proof that free enterprise works,” he said. “Florida continues creating jobs, attracting investment, welcoming new businesses, and giving families greater opportunity to succeed. ”The foundation also highlighted Florida’s rankings in business startups, manufacturing job growth, income migration and new business relocations. It said the state has the nation’s lowest debt per capita and remains among the leading states for infrastructure investment and workforce growth. The rankings compare Florida’s gross domestic product with national economies worldwide. They do not account for differences in population, household income or cost of living.