Florida GDP, economy passes a European stalwart, targets Australia

Adios, Spain. 

That’s what the economy of Florida is saying, as it passes the European nation in GDP. The Sunshine State, according to the Florida Chamber Foundation, now has a GDP exceeding $1.7 trillion. That’s good for No. 15 in the world, moving up one spot from last year’s rankings. Florida is $25.5 billion behind Australia, the Florida Chamber Foundation says. 

Florida officials set a long-term goal of becoming a top 10 economy in the world by 2030.

“When we launched the Florida 2030 Blueprint, Florida ranked 18th in the world,” Florida Chamber of Commerce and Foundation President and CEO Mark Wilson says in the release. “Today, we are 15th and gaining ground on Australia. This is the direct result of years of laser focus on free enterprise, principled leadership, smart policy decisions and business and community leaders working together to secure Florida’s future. Florida’s rise is not just a state story. It is a global story.” 

The announcement, released Friday, Oct. 31, comes as the Florida Chamber Foundation wrapped up its Future of Florida Forum & Florida Chamber Annual Meeting in Orlando last week. The organization unveiled a first glance at the soon-to-be-released Florida 2030 Blueprint Halftime Report at the forum. That report, officials say, shows that in the past five years the state has added more high-wage jobs and expanded its workforce by more than 10 million workers, more than the population of 40 U.S. states. The state, through the Florida Prosperity Initiative, has also reduced childhood poverty by the count of 155,742 fewer children living in poverty. 

Other segments where Florida is a leader include: 

• No. 1 for new business startups 
• No. 1 higher education system 
• No. 1 state for manufacturing job growth 
• No. 1 state for net income migration 
• No. 1 state for new business migrations 
• No. 1 state for Black-owned businesses 
• No. 2 state for Hispanic- and women-owned businesses