Florida on Track to Being a $1 Trillion Economy,,,will make it the 16th largest economy in the world

  • Posted by a hidden member.
    Log in to view his profile

    Jun 29, 2016 2:13 AM GMT
    http://www.tampabay.com/news/business/report-florida-on-pace-to-swell-into-a-1-trillion-economy/2283397Florida's economy will continue to outpace the rest of the country for the next four years, pushing the state toward a $1 trillion economy by 2018, according to the latest economic forecast from the University of Central Florida.

    In his second-quarter forecast, UCF economist Sean Snaith said the Sunshine State is enjoying rising job growth and home construction. The mix of aging baby boomers and a healthier jobs market in Florida "bodes well for continued population growth via the in-migration of workers and retirees," he said.

    His analysis projects Florida's economy will expand at an average annual rate of 2.9 percent from 2016 to 2019, outpacing the national average. That means Florida's gross state product, or economic output, would cross the $1 trillion threshold in 2018 and climb to $1.074 trillion in 2019. Based on current World Bank rankings, Snaith said, that would make Florida's economy the 16th largest in the world...

    On Tuesday, Snaith said he may temper expectations for Florida somewhat after Britain's exit, but he still sees the state on the path toward a $1 trillion economy. In the long-term, the scope of a global slowdown or a recession depends on whether other European countries follow Britain's lead; in the short term, the biggest impact on Florida will be on tourism, he said.

    "Everything is 10 percent more expensive now for visitors from the UK to Florida, so that will change some behavior," he said.


  • metta

    Posts: 39130

    Jun 29, 2016 5:39 AM GMT
    Florida's Economy: The 6 Industries Driving GDP Growth

    http://www.investopedia.com/articles/investing/011316/floridas-economy-6-industries-driving-gdp-growth.asp




    Personally, I think Florida should stop developing areas that will be underwater within the next 100 years.
  • CuriousJockAZ

    Posts: 19133

    Jun 29, 2016 1:46 PM GMT
    I'm surprised that Florida's economy is larger than California's. Must really be booming
  • Posted by a hidden member.
    Log in to view his profile

    Jun 29, 2016 1:48 PM GMT
    metta saidFlorida's Economy: The 6 Industries Driving GDP Growth

    http://www.investopedia.com/articles/investing/011316/floridas-economy-6-industries-driving-gdp-growth.asp

    Personally, I think Florida should stop developing areas that will be underwater within the next 100 years.


    Well, how do you just stop if you don't yet have to and if you don't know with 100% certainty that you'd ever have to? For without denying climate change, even while seeing how seas have already risen, a drive to fix that might produce corrections. So how do you just stop in your tracks and not only give up those gains to present society but cause pain before its time?

    Even on the environmental front, for the first time in my adult life, I did not vote for what was being presented as an environmental bill by buying up with public money low lying wetlands out of private hands. Well, if the water is rising, why would we do that? So I didn't vote for it. But I was not sure of my decision. In Florida we have the Everglades, a huge resource for fresh water for people, for sanctuary for wildlife that was for years destroyed by sugar production and drainage. So it has in the past few years become the most if not one of the most expensive restoration projects attempted in the world. Well, that cranked up before all the climate change numbers were in.

    So where do we go with that? If the sea waters will rise much more, then why restore the River of Grass? But if we can halt some of the sea rise, then do we miss this opportunity to save all that wildlife by having as you just seemed to have suggested stopping restoration of wetlands (for wouldn't that go hand in hand with your argument to stop development) that might be lost under seawater in the near enough future? If we can take climate change seriously enough to stop or reverse it, then why risk losing the Everglades now?

    This potential disaster is Titanic. You head for the stern as it rises, hold on to dear life for as long as you can, you ride it down, you swim like hell when it tries to suck you under and if lucky you find flotsam to float on until help arrives.
  • Posted by a hidden member.
    Log in to view his profile

    Jun 29, 2016 1:52 PM GMT
    CuriousJockAZ saidI'm surprised that Florida's economy is larger than California's. Must really be booming


    A quick google shows Calif at 2.21 trillion. In 2015 it was #8 in the world. But per capita FL might be larger. I'll check that.

    EDIT TO ADD:
    https://en.wikipedia.org/wiki/Economy_of_California
    GDP per capita‎: ‎$62,807 (2015)
    Population below poverty line‎: ‎9.5%
    GDP‎: ‎$2.458 trillion (2015)
    Labour force‎: ‎18,600,000 (June 2014)

    Florida
    http://www.usgovernmentspending.com/gdp_by_state
    gdp 2016 $920.5 million
    population: 20.6 million

    so just a real rough figure by that of $44.6k per capita if I did that right.

    So Calif is the greater economy by either measure.

    Still, an impressive showing for Florida by its history.

    fredgraph.png?width=880&height=440&id=FL
  • metta

    Posts: 39130

    Jun 29, 2016 2:20 PM GMT
    CuriousJockAZ saidI'm surprised that Florida's economy is larger than California's. Must really be booming



    California has the World's 6th largest economy

    California has a gross domestic product of $2.5 trillion
    http://www.realjock.com/gayforums/4224967
  • CuriousJockAZ

    Posts: 19133

    Jul 03, 2016 4:51 PM GMT
    metta said
    CuriousJockAZ saidI'm surprised that Florida's economy is larger than California's. Must really be booming



    California has the World's 6th largest economy

    California has a gross domestic product of $2.5 trillion
    http://www.realjock.com/gayforums/4224967




    Ahhhh, sorry, I read it wrong. I stand corrected icon_smile.gif
  • metta

    Posts: 39130

    Jul 03, 2016 5:11 PM GMT
    No problem. Just a clarification. I have read that some people think that California may move into 5th place, which the UK is currently in.