TALLAHASSEE, FL—Governor Ron DeSantis touted Florida's Gross Domestic Product growth Friday morning, announcing that the Sunshine State's growth has doubled the national rate over the last five years.
"With yet another major economic milestone like this, Florida demonstrates to the nation that leadership matters,” said Governor Ron DeSantis in a press release. “Our responsible governance and fiscal constraint mean our state economy has significantly outperformed the national economy, with nearly double the GDP growth rate.”
DeSantis, who took office in 2018, explained that Florida's GDP has grown by almost 22 percent in five years, dwarfing the national rate's growth in the same period, which increased by 11 percent. The U.S.'s GDP, however, is at no middling stance: it stands at over $28 trillion—the number one in the world. America leads the second-place economy—China—by nearly ten trillion dollars.
Florida, meanwhile, has an annual GDP of nearly $1.3 trillion—more than small countries like the Netherlands or Switzerland. In terms of U.S. states, they hover around fourth place for the best GDP, behind California, Texas, and New York, respectively.
Economy-wise, however, Florida is ranked number one by the U.S. News and World Report, which takes into account each state’s business environment, labor market, and overall economic growth.
"Under Governor DeSantis’ strategic investments in workforce education, infrastructure, and financial readiness, Florida continues to outperform the nation across all metrics, including real GDP and private sector job growth,” said Florida Secretary of Commerce J. Alex Kelly. “With the nation’s number one economy, Florida is the most business-friendly state and the best place for families and communities to live, work, and thrive.”
Kelly referenced the Sunshine State's massive private sector job growth, in which the construction, education, and health services sectors experienced the most gains. Furthermore, Florida's statewide unemployment rate is 0.7 percentage points below the national rate and has been for 43 consecutive months, a feat DeSantis has lauded in the past.
