Florida s Economy Where It is and Where It s Going .


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My Perspective. Keyed to Budget ProcessesFocuses on large scale developmentsRelies on the state assessing procedure (The tables, outlines and figures regularly are from CQ\'s State Fact discoverer, EDR, AWI, Enterprise Florida, BEA, Census, and the Federal Reserve St. Louis). . . For instance:. Economy: Where Are We Now?.
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Florida\'s Economy Where It is and Where It \'s Going

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My Perspective Keyed to Budget Processes Focuses on full scale advancements Relies on the state evaluating process (The tables, outlines and figures commonly are from CQ\'s State Fact discoverer, EDR, AWI, Enterprise Florida, BEA, Census, and the Federal Reserve St. Louis)

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For instance:

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Economy: Where Are We Now? Estimate Structure Other Features Region Performance

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GSP, 2006 $713.5 b Total Personal Income, 2006 $647.6 b GSP, 2006 4 th Largest Total Personal Income, 2006 4 th Largest Size of Florida\'s Economy

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Gross State Product: 2006 (in $ millions)

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Structure: Gross Domestic Product United States and Florida by Industry, 2006 (in $ millions)

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Size of the Florida\'s Labor Force

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Features Tourism Spending, 2004 $46.7 b Tourism Spending per capita, 2004 ranked 4 th Exports, 2006 $20.3 b Exports for every capita, 2006 ranked 34 th Number of Fortune 500 Companies 31 Number of F/500 Companies for each capita ranked 36 th Housing licenses, 2005 287,250 Housing grants for each capita ranked 2 nd Bankruptcy Filings (Ind & Bus.), 2006 73,499 Bankruptcy Filings for every capita ranked 31st

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Impact of International Travel on State Economies, 2004 ($ millions)

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Florida Relies More Heavily on Interest, Rent, Dividends and Transfer Payments than Wages Unlike Most States

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How Well Does Florida\'s Economy Perform? Inspect development Consider correlations Look at impacts

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Non-Agricultural Job Growth, 1990 – 2007 Generally Quite Strong, But Slowing Recently

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Aspects of the Slower Job Growth Construction (went marginally antagonistic in July) Financial exercises and retail (drowsy) Information Industry (by and large moderate, went contrary in July) Manufacturing (for the most part moderate, went adverse in July) Slower expert and business administrations (level in August) Government (Still developing through July with downturn expected) Leisure and Hospitality (went down in August) Increasing Education and Health Services

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Regional Differences

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Performance: Gross Domestic Product Per Capita, 2006

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Average Annual Wages in Florida Lag behind Those Nationally

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Overall Assessment of Florida\'s Economic Performance

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Current Assessment The state\'s GDP has come back to levels gauge before the sea tempest movement of 2004 and 2005 Recent work development and development in individual wage have declined off before estimates and can be followed, to a limited extent, to the end of the lodging blast (almost 50% of 2006 home loans were imaginative) These decays are reflected in different zones, for example, the populace development and auto enlistments

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Performance: Distribution of Income, 2003

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Where is Florida Going? "Is Florida Over?" Wall Street Journal , September 29, 2007 Dougherty\'s Evidence Atlas Van Lines moving arrangement goes pessimistic Increased Housing costs – "Half Backs" Increased rivalry for retirees in the SE Rising protection and two-layered property impose Increased pervasiveness of sea tempests There is extensive proof against this recommendation

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Income Prospects Productivity additions are gauge to proceed Despite these increases, the work market is relied upon to fix somewhat with expanded profit and exchange installments Downside shortcoming in light of vulnerability in a few areas, including assembling and development, and in the level of in-relocation Equity issues are relied upon to hold on

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Florida Employment Growth by Industry Sector, 2007 - 2015

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Sectoral Employment Growth is Forecast to Remain Robust Retail is required to see solid picks up alongside data, business administrations, relaxation and accommodation Educational administrations will demonstrate development particularly in K-12 albeit flow conjectures have the quantity of HS graduates leveling off in coming years

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Florida Employment Growth 2007 - 2105

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Occupational Gains Will Occur Across the Board Most of the word related increases will come in fields that require minimal propelled training - administrative, deals and sustenance benefit Computer, Healthcare and Legal occupations are figure to become the snappiest The retirement of the main edge of the Baby Boomers will require generous substitution word related development

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Comments The "Rachet Effect" perseveres There are sufficient qualities to expand upon Continued populace development is an unverifiable key to the future Shifting financial aspects of retirement present new instabilities Shifting monetary structure debilitates long standing infrastructural part of neighborhood governments (particularly in streets) The wage structure and pay imbalances will keep on having "base" impacts

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Definitions Personal Income-a gauge of aggregate gross salary, got from wages, proprietor\'s pay, rents, profits, premium installments, and exchange installments. Net State Product (GSP) - the aggregate estimation of all merchandise and enterprises created by a given state. GSP can be communicated as either present or genuine GSP. Current GSP is the ostensible dollar esteem in a given year. Genuine GSP is the estimation of yield balanced for swelling, ordered to a base year . Dispensable Personal Income-the salary that is accessible to people for spending and sparing. It is figured as individual wage less the total of individual duty installments and individual non-charge installments to Federal, State, and neighborhood governments. Pay a repetitive advantage, normally measured in cash, that is gotten from capital and work. The significant components of salary are wages (counting tips and rewards), rents, intrigue, and profit wage, proprietor\'s wage, and exchange installments See http://eflorida.com by Enterprise Florida

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