Drew Dixon
Florida’s economic growth is outpacing other states in an upbeat forecast published by the Florida Chamber of Commerce.
The business advocacy group published its 2025 Florida Economic Forecast recently and it found the Sunshine State is outpacing national growth trends. The report concluded Florida’s economy is bolstered by industries such as technology, health care, construction and others.
“As we look into late 2025 and beyond, Florida isn’t just growing, it’s showing the rest of the nation what stable and well-planned growth looks like,” said Mark Wilson, president of the Florida Chamber of Commerce & Foundation. “The report notes that while challenges like inflation and housing affordability persist, Florida’s ability to adapt and innovate will drive its long-term success.”
There were several key factors the Florida Chamber cited as major contributors to the state’s robust economic outlook in the 16-page report. Gross Domestic Product (GDP) growth was chief among them. The Chamber projected Florida’s GDP is expected to grow by 2.5% to 3% this year, above the national trend.
Florida’s workforce is also a significant keystone in the state’s economy. Chamber officials said job growth in the state is expected to hit 1% to 1.25% this year and unemployment rates hovering between 3.6% and 3.8%. The general monthly jobless rate in December came in at 3.4% and that’s held steady for the past three months, according to FloridaCommerce.
“Thoughtful strategies are needed to engage working-age adults who aren’t currently in the workforce, in order to increase our labor force participation rate. The Florida Chamber Foundation’s workforce development initiatives, such as the ‘Future of Work Florida’ program, are key to bridging the gap between education and high-demand careers,” the Chamber report advocated.
The report did indicate the state would have to see some changes in the housing market with median sales prices increasing and affordable homes becoming increasingly scarce. “Housing affordability remains a challenge for many Floridians,” the report stated.
Population trends will work in the state’s economic favor, though. The number of people residing in Florida is projected to tick up to 23.75 million people this year and that will keep the state first in the country for net income migration. That’s more than three times the rate of net income migration for Texas, which is the state with the second most income migration in the country.
