Florida's economy is diverse and growing.
The economic base is changing as the world's economy changes.
Florida has a number of advantages as it pursues markets internationally.
On America's coastline, Florida was a natural place for military
bases during World War II. At the end of the war, experiments
on those bases led to the space program, now located at the
Kennedy Space Center at Cape Canaveral. The space program
drew high-tech industry to the state, and created a climate
of innovation that Florida strives to maintain. High-tech
and global industries are an important part of Florida's economy.
Florida's economy is as rich and diverse as its history and
population. From its agricultural beginnings to its present-day
mix of industries and opportunities, Florida's geographic
and cultural advantages have helped its economy grow and change
as times required.
Agriculture and Natural Resources
Once the backbone of Florida's economy, agriculture still
plays an important role. Florida grows about three-quarters
of the nation's citrus fruits. After freezes nearly wrecked
the citrus industry in the 1890s, Florida farmers began growing
vegetables as well. Today Florida ranks second only to California
in the amount of vegetables produced. Nearly 30 percent of
all of Florida's land is in farm acreage, with another 37
percent in commercial forests. Mining is important too, with
a quarter of the world's phosphate, useful for fertilizer,
coming from Florida. Fishing is an industry conducted from
both Gulf and Atlantic coastal ports and the Florida Keys,
with markets on the East Coast and in the Midwest.
Florida manufacturing grew rapidly in the 1950s and 1960s.
Some of the growth was in processing citrus products, but
clothing, chemical, and other businesses attracted by the
space program developed too. Electrical and electronics employment
now lead in the number of manufacturing jobs. The Florida
High-Tech Corridor, from coast to coast in the center of the
state, produces many of the jobs that rank Florida fourth
in the nation in high-tech employment.
Although social services and retail trade employ more workers,
tourism is the largest income-producing industry in Florida.
Originally a winter destination, Florida now attracts visitors
year-round with its theme parks, recreational activities,
national parks, golf courses, and coastal cruises. Florida's
modern transportation systems, including highways, rail, and
air traffic, bring in visitors for business and pleasure from
all corners of the nation and world. In addition, 15 ocean
ports serve both recreation and commerce.
Florida's Economy in the Future
Florida's economy is changing, as it looks to the future.
Heavy industry is not as successful as it once was, and service
jobs, such as in government, health care, and tourism, are
becoming an even more important part of the economy. One reason
for these changes is globalization, the linking together of
nations through trade. Globalization spreads commerce around
the world through common markets, trade agreements, and common
standards and money exchange.
Some trade agreements, like the North American Free Trade
Agreement (NAFTA) eliminate trade barriers between nations
in the hopes of increasing export markets. Trade increases,
and sometimes jobs are lost too. In any case, global markets
are increasingly important.
Florida has some real advantages in global business. Florida's
central location in the Americas is just as important today
as it has been throughout history. Florida has workers who
are multilingual, or able to speak more than one language.
Florida has first-rate airport facilities and deepwater ports.
Florida has both national and international banking and financial
institutions. The state government and private business have
formed an organization called Enterprise Florida to encourage
high-tech and global business.
As Florida enters the twenty-first century, it looks to both
a past and a future of economic growth. Challenges in education,
finance, and providing services remain as Florida prepares
its workforce for the rest of the century.