Florida is on the rise. At the Small Business Leadership Summit held in Tampa at the beginning of this month, Mark Wilson, CEO and president of the Florida Chamber of Commerce, said that small businesses stand to benefit from current trends.
Just take a look at these statistics:
If we were a country, we would be the 20th largest, based on GDP
The U.S. Department of Commerce’s Bureau of Economic Analysis calculates official statistics for individual states and metropolitan areas. In total, Florida’s state GDP was $754,255 million in 2011. Private industry made up all but $97,307 million of that figure. In 2010, the Gainesville area had a GDP of $6,443 million, with $5,809 from private industries. Real estate specifically brought in $523 million.
All of these numbers indicate potential for companies like Bosshardt Realty. Numbers don’t lie: Florida’s private sector is a profitable place to be.
We fall solidly in the middle (25th) in terms of cost of living
Florida’s cost of living has been on the upswing. While this might initially seem like a disadvantage personally, it is an advantage in the business world. It means that the business equilibrium is changing. We have the opportunity to shift the landscape to serve a clientele that wants higher-end products – and is willing to pay for them.
Florida’s population is projected to soon surpass New York’s
New York’s population has nearly flat lined for the past decade, while Florida has seen continual growth. According to data by the U.S. Census Bureau, our population of 19.1 will exceed New York’s 19.5 million in the next 2-3 years.
All of this spells potential in the Sunshine State.
“We’re a big deal,” Mark Wilson, CEO and president of the Florida Chamber of Commerce, said. “People want to do business with Florida and that means opportunities for small businesses.”
Speaking at the Small Business Leadership Summit, Wilson encouraged business leaders to expand the economy beyond the mainstays of tourism, agriculture and construction.
Bosshardt Reality is a part of this burgeoning sector of Florida’s economy. We can harness these trends and use them to our advantage.
The Tampa Bay Business Journal article about the Small Business Leadership Summit can be found here.