Aircraft, Agriculture, & More: A Look At Florida’s Economy

The sunshine state has a surprisingly vibrant economy that draws people from across the US and abroad for both tourism and other business.

The state is one of the top destinations in the US, and has the country’s fourth largest economy.

The economy in Florida does rely heavily on tourism, which brought in a monumental $111.7 billion in 2016 alone. The tourism industry in Florida is especially vibrant and exciting, as the state is home to Walt Disney World, which employs over 70,000 people. Florida received over 87.3 million visitors in 2011, which was a record, though tens of millions of tourists (primarily Americans) visit the sunshine state every year.

When it comes to exports, airplanes and aircraft parts are Florida’s largest foreign exports. The space industry also represents about $4.1 billion out of Florida’s economy, with jobs in this sector providing an annual average wage of $67,000. Florida is of course home to the Kennedy Space Center, which employs 13,000 people on its own. Florida ranks 4th among US states for employment in the aerospace industry.

Another significant slice of Florida’s economy is in agriculture, and contrary to popular belief, beef is the state’s most popular export, not oranges. That being said, Florida’s agricultural sector is as vibrant as the state’s broader economy. The everglades add more than $100 million to Florida’s economy, but it also creates many scams where people sell uninhabited swampland.

On the urban side, cities such as Miami have to spend huge sums of money on water pumps. Environmental disasters do cause significant damage in Florida, and flooding is common. Climate change is expected to have worse effects on Florida than elsewhere, but at the moment the serious risk of flooding doesn’t seem to be slowing down beach-side rent increases.

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