Florida Economic Forecast: Q4 2024

2024-2030

2025 Economic Forecast - 2024 Q4 Cover

Florida TaxWatch’s report, 2025 Economic Forecast - 2024 Q4, examines Florida's economic outlook amid evolving market conditions. The report analyzes key indicators such as employment trends, GDP growth, and consumer spending, providing insights into Florida’s economic trajectory as the state navigates post-pandemic recovery and future challenges.

By evaluating current economic data and trends, the report offers policy recommendations aimed at fostering sustainable growth, enhancing job opportunities, and maintaining economic stability. The insights presented are crucial for policymakers, business leaders, and the public as they plan for the future.

Meet the Author:

Jui Shah
Jui Shah
Research Economist | Lead Author
LinkedIn

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Florida Manufacturing: A Highly Productive and Integral Economic Driver

Florida Manufacturing: A Highly Productive and Integral Economic Driver

Florida's manufacturing sector is a $86.6 billion industry that ranks sixth in the nation in the value of exported manufactured goods, employs more than 434,000 workers, and contributes 4.62 percent of the state's GDP — quietly outpacing both tourism and agriculture. Anchored by aerospace, defense, and space manufacturing firms along the Space Coast corridor, including global names like Lockheed Martin, Boeing, SpaceX, and Raytheon, the industry also produces medical devices, pharmaceuticals, food and beverage products, and recreational boats. The sector offers high wages with low educational barriers: eleven of the fifteen largest manufacturing occupations require only a high school diploma or equivalent, with an average annual salary of $87,000. Modernized working conditions — built around computer-based tasks and precision environments — have made manufacturing jobs increasingly comparable to traditional white-collar work.

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