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Tourism in Central Florida: Why Tourist Development Tax Revenue Should Not Be Diverted

Energy & Environment, Research, Taxes, Tourism

Each year, more than one hundred million visitors come to Florida to enjoy its beaches, warm temperatures, and its numerous parks, thrills, and attractions. Latest FloridaCommerce data confirm that Florida set a new all-time annual record in calendar year 2024 with 143 million visitors an increase of 1.7 percent over the previous record set in 2023. Out-of-state visitors to Florida spent $134.9 billion in calendar year 2024. For every $1 spent by a visitor, 99 cents stayed in Florida’s economy, with 59 cents supporting worker salaries. Tourism supported 1.8 million jobs in 2024 and generated $79.9 billion in wages, including $44 billion in direct wages. Tourism-related activity produced $33.6 billion in federal, state, and local taxes. Tourism accounted for 7.8 percent of Florida’s Nominal Gross State Product (GSP), contributing $133.6 billion to the state’s economy in 2024. Without tourism, Florida households would pay $1,730 more annually in state and local taxes alone to sustain current levels of revenue.

Florida TaxWatch Releases Report on Value of Florida’s Behavioral Health Managing Entities and Questions Sustainability in Meeting State’s Needs

Press Releases

FOR IMMEDIATE RELEASE: Tues., Feb. 25, 2025 CONTACT: Christina Johnson, christina@on3pr.com, 850.391.5040  Tallahassee, Fla. – Today, Florida TaxWatch released Enhancing Lives, Ensuring Accountability: The Value of Florida’s Behavioral Health Managing Entities report,

Briefing: Florida’s Property Insurance Market

Hurricane Ian, Insurance, Research

Explore the latest insights from Florida TaxWatch’s “Property Insurance Briefing” as it delves into the complexities of Florida’s property insurance market amidst the 2024 hurricane season. This report examines the instability caused by soaring premiums, driven by litigation and hurricane damages, and discusses the role of Citizens Property Insurance as a critical safety net for over a million Floridians. Highlighting legislative efforts to stabilize the market and initiatives like home hardening to reduce costs, this briefing is essential for anyone affected by or interested in Florida’s property insurance challenges. Download the full report for a comprehensive analysis and actionable solutions.

“If You Build It, He Will Come”: Florida TaxWatch Looks At The Tampa Bay Rays’ Ballpark Proposal

Local Government, Research

This report analyzes the key aspects of the deal and identifies critical questions that local officials should consider before deciding whether the proposed ballpark is in the best interest of taxpayers. The report does not draw conclusions on the merits of the deal but instead focuses on outlining the important factors that need to be weighed, such as the total public costs, the best use of public funds, and the fairness of the cost-sharing agreement. While the project is expected to generate significant economic impacts over 30 years, research shows that the benefits of publicly subsidized sports facilities are often overstated. To learn more about this critical issue affecting the Tampa Bay region, download the full report for an in-depth, independent analysis.

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