Florida Economic Forecast: Q3 2024

A Florida TaxWatch Economic Commentary

Florida Economic Forecast Report Cover

Florida’s economy is forecast to continue its impressive growth trajectory through 2030, reaching nearly $1.5 trillion. Based on detailed data from the REC Group, this report analyzes key trends such as population growth, net migration, and employment shifts that will shape the state’s economic future.

Covering projections from 2024 to 2030, the analysis delves into changes in GDP and personal income growth, the evolving impact of tourism, and how Florida’s economic indicators compare with the broader U.S. economy. The report offers valuable insights for policymakers and business leaders navigating Florida’s post-pandemic landscape.

With comprehensive data and expert commentary, this forecast outlines both opportunities and challenges as Florida transitions to more normalized economic conditions. It’s an essential resource for understanding the financial and strategic implications for the state’s future.

Meet the Author:

Jui Shah
Jui Shah
Research Enonomist
LinkedIn

Documents to download

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Florida’s Space Coast is Well-Positioned to Dominate the Future of the Aerospace Industry

Florida’s Space Coast is Well-Positioned to Dominate the Future of the Aerospace Industry

For more than 60 years, Florida’s Space Coast—anchored by Kennedy Space Center (KSC) and Cape Canaveral Space Force Station (CCSFS)—has served as a premier gateway to space, driving tourism, high-tech jobs, and statewide economic output. After major federal program shifts in the 2010s led to significant regional job losses, Florida’s modern commercial-space resurgence—supported by Space Florida’s strategy to diversify the supply chain, modernize infrastructure, and attract private capital—has positioned the Space Coast to lead the next era of aerospace growth.

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New General Revenue Forecast Adds $572.5 Million for the Next Budget

New General Revenue Forecast Adds $572.5 Million for the Next Budget

The General Revenue (GR) Estimating Conference met on January 23 to adopt Florida’s latest GR forecast—the estimate that tells lawmakers how much is available for the next state budget. The updated forecast adds $572.5 million to the amount available for the upcoming budget year, but while meaningful, it amounts to only about one percent of total GR collections.

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Clearwater’s Plan to Establish Its Own Municipal Electric Utility Puts Taxpayers at Risk

Clearwater’s Plan to Establish Its Own Municipal Electric Utility Puts Taxpayers at Risk

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