WRE News: Florida’s Economy Ranked Strongest in the Nation for Second Year Running

Photography by on July 15th, 2024 in News

Miami, FL – Jul5 15, 2024 – Florida’s economy has been ranked as the strongest in the nation for the second consecutive year, according to CNBC.

Since 2019, Florida’s economy has grown at nearly double the national rate, driven by net in-migration and new business formations. Strategic actions in 2024, such as tax cuts, increased teacher pay, and record debt reduction, have supported this growth.

Additionally, the state has excelled in education, Everglades restoration, and infrastructure projects. The real estate sector has also flourished, with rising home prices and quicker sales, thanks to factors like rapid price appreciation and international investment.

Florida’s broader economic landscape is characterized by a low unemployment rate of 2.6 percent, a favorable corporate tax rate, and strong support for startups and small businesses. The state leads in small business exports and has received substantial federal support.

Looking ahead, the Florida Chamber of Commerce’s ambitious Florida 2030 Blueprint aims to elevate the state’s economy to the global top 10 by the end of the decade, highlighting the ongoing momentum and resilience of Florida’s economy.