The Sunshine State’s business climate is robust, giving your organization opportunity to grow and thrive. What are the most important industries in Florida? Let’s take a look at the top sectors that are fueling the economy.
Florida GDP by Industry
- Tourism. Of course! More than 116.5 million people flock to Florida each year to enjoy 2,200 miles of shoreline, 663 miles of beaches, the best amusement parks in the US, and to soak up the sun - and the vibrant culture. This industry contributes $51 billion to Florida’s gross domestic product (GDP) and employs 1.1 million people (out of the total 9.1 million people employed in the state).
- Agriculture. Another big driver, agriculture employees 2 million people, contributing $104 billion to the GDP. Top commodities are oranges, tomatoes, dairy, sugarcane, and greenhouse/nursery products.
- International Trade. We are a hub for trade between the US and Latin America, the Caribbean, and destinations all over the world. Merchandise exports are more than $55 billion per year and account for about 7 percent of the state’s real GDP.
- Aviation and Aerospace. This thriving industry makes a $144 billion impact on the Florida economy and provides high-paying work for some 103,000 people. From research/ development and military installations to spaceports and airports, no other state comes close in this area.
- Life Sciences. Employing 87,000 people in high-paying jobs, Florida’s biomedical, pharmaceutical, medical device, and healthcare companies make a significant contribution to the GDP.
- Financial Services. One of the most important industries in Florida, financial service companies employ 900,000 people, or about 11 percent of the state’s workforce.
As you can see by looking at the Florida GDP by industry, the aforementioned six most important industries in Florida truly power the state’s economy. A stable and advantage tax climate, an exceptional talent pool, and a high quality of life all make the Sunshine State a great place in which to do business.