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Business Observer Friday, Jan. 19, 2018 4 years ago

Membership has its benefits

Florida's economy may hit the $1-trillion threshold.

Florida's economy is so strong, that by one account it's about to join an exclusive club: governments with a $1 trillion economy.

Florida would be the fourth state nationwide to hit that mark, behind California, Texas and New York. The Sunshine State would also have a GDP that surpasses several nations, including Turkey, the Netherlands and Saudi Arabia.

The trillion-dollar prediction comes from the Florida Chamber Foundation, a nonprofit research organization. The foundation says Florida should hit the figure by the end of 2018. “If Florida was a stock, it would be considered a strong buy,” Florida Chamber of Commerce President and CEO Mark Wilson says in a statement.

Of course, like with any big prediction in the economy, there are risks. In Florida, according to the foundation's report, long-term risks include “global risk and uncertainly; losing consistent leadership at the state level; and a rise in the cost of living and doing business due to overregulation and Florida's bottom-ranked legal climate.”

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