The biggest money makers in Florida right now aren’t hard to guess.
The real estate and health care industries are two of the top three in the state making the most money, according to research done by Capital on Tap, a financial institution in Georgia.
The health care industry really isn’t a surprise after a large part of the certificate of need program was repealed in 2019, making it easier to build a hospital.
The business credit card experts at Capital on Tap used data from the Bureau of Economic Analysis to analyze 26 industries and the gross domestic product of each. The top three in Florida are:
- Real estate and rental and leasing, which produced $247.25 billion GDP in the second quarter of 2022.
- Professional, scientific and technical services that brought in $109.55 billion GDP.
- Health care and social assistance with nearly $109.28 billion GDP.
“For small business owners, GDP is an important indicator of the economy’s overall health and potential for growth, and from that perspective, the outlook is generally positive, as national GDP has steadily grown in each consecutive quarter since the start of 2021,” Damian Brychcy, COO at Capital on Tap, says in a release. “I think there is a question as to whether that growth can be maintained in 2023 and that's something small business owners will be following closely."
Looking forward, the manufacturing industry may be making a comeback from the pandemic. In the U.S., the industry increased output by 1.9% in the third quarter of 2022.