UNIT 5 OVERVIEW

Florida's Economic Development, like that of the United States, has undergone many changes in the last half of the twentieth century.

As Florida moves into the twenty-first century, she continues to nurture her manufacturing base. Agriculture, the long standing backbone of Florida's historic economy, continues to prosper. However, the state has seen significant economic growth in the services-based industry, tourism, aerospace, and international trade sectors.

With the fourth largest population in the nation, Florida's economic outlook appears good. Florida is attracting new business and industries at record rates. The State also attracts millions of tourists every year as she continues to expand the vacation opportunities for peoples of all ages. As more people are exposed to the natural beauty of Florida and her tourist attractions, millions of dollars in tax revenues are collected, helping Florida meet the needs of her people. As one of only seven states not to collect a state income tax, Florida must look for other ways to expand her economy, thus generating tax income so that she may indeed meet the needs of all who visit and all who live here.