Economic engine

Florida might not rule the Southeast in college football, but in a major economic metric —GDP — the Sunshine State pounces rivals such as Alabama, Georgia and Tennessee.

Start with total GDP: Florida, according to a new study from the Federal Reserve Bank of Atlanta, has a 5% share of the U.S. GDP, gross domestic product. Georgia holds a 2.8% share, while Tennessee, Louisiana, Alabama and Mississippi don't even combine to match Florida's share.

The Fed survey breaks down GDP into 20 industry categories. Florida ranks No. 1 in 18 out of 20 sectors. In several categories Florida doubles, or nearly doubles, the total output of the No. 2 state.

The categories where Florida doesn't come in first place are manufacturing and mining, quarrying and oil and gas extraction. Not surprisingly, Louisiana rules in the latter sector, with a $12.4 billion GDP in 2016, courtesy of its oil companies. Florida ranked No. 3 in that sector, with a GDP of $1.14 billion, most likely from phosphate mining.

A more competitive sector was manufacturing: four states had a 2016 GDP output of at least $40 billion, the Fed report shows. Georgia is No. 1, with $48.2 billion, followed by Tennessee at $46.59 billion. With $41.8 billion, Florida is No. 3 in manufacturing, just ahead of Louisiana.
In many other categories, it's no contest. Like many other surveys and reports on economic impact metrics, part of Florida's prowess is in population. More people means more stuff to buy and sell.

That includes a sector like arts and entertainment. Florida's $15 billion share almost doubles the output of the other five Southeast states on the survey. In accommodation and food services, or hospitality, Florida also dominates, with a $33.5 billion GDP output. Georgia is ranked No. 2 in that sector, with $11.9 billion.

There's also real estate, rental and leasing, another sector where Florida, with $130.5 billion share, dominates the Southeast. Ditto for construction, health care, financial services and retail.