Statewide Growth of Florida Economy Mimics Trend in St. Petersburg

Each year, more than 6,000 visitors from around the globe flock to St. Pete's booming arts and culture scene, vibrant downtown, and pristine parks and beaches. Even more impressive- the influx of businesses gravitating to the Sunshine City's pro-business environment, favorable tax climate and strategic location.

In the midst of just seven days, the state of Florida announced major economic growth trends pertaining to the Tampa-St. Petersburg region. In the press releases below, Governor Rick Scott's office reveals the Tampa-St. Pete region ranks second for job creation and Florida had the largest net gain of job growth by any state according to a recent report from the U.S. Bureau of Labor Statistics.

The City of St. Petersburg saw a major uptick in high-wage jobs created in the data analytics industry, with more than half of its jobs created in 2017 related to data analytics or tech in some way. The increase, largely attributed to the City's community and economic development strategy, Grow Smarter, is predicted to continue as major investments are made in the Tropicana Field site and downtown corridor.

Red Apple Group buys coveted St. Petersburg parcel for $16.5 million

Florida Government Office of Rick Scott 45th Governor of Florida 

Gov. Scott: Tampa-St. Petersburg Area Keeps Growing, Ranks Second for Job Creation

ST. PETERSBURG, Fla. (July 20, 2018) — Today, Governor Rick Scott announced that the Tampa Bay area added 30,500 new private-sector jobs in the last year, creating the second-highest number of jobs among all Florida metro areas. Tampa’s unemployment rate was a low 3.8 percent, down 0.3 percentage point from one year ago. Statewide, Florida businesses created 16,900 new jobs in June bringing the total number of new private-sector jobs created in Florida to 1,554,800 since December 2010.

To see the statewide job creation information, click here.

The industries with the highest growth over the year in the Tampa Bay area were leisure and hospitality with 8,300 new jobs, and education and health services with 7,900 new jobs.

The Tampa Bay area remained first among the state metro areas in job demand in June with 42,168 openings. The Tampa Bay area also continues to rank first in the state in demand for high-skill, high-wage STEM occupations with 14,556 openings in June.

As of June, Florida’s unemployment rate remained at a low of 3.8 percent, a drop of 7 percentage points since December 2010; this drop is faster than the national decline of 5.3 percentage points. In the past year, 130,000 people entered Florida’s labor force, a growth of 1.3 percent, which is greater than the national labor force growth rate of 1.2 percent.

To view the June 2018 employment data visit www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.

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Gov. Scott: Florida Continues to Outpace the Nation with Nearly 17,000 New Jobs Added in June

 

TALLAHASSEE, Fla. (July 20,2018)— Today, Governor Rick Scott announced that Florida businesses have created 16,900 private-sector jobs in June and 172,600 in the past year, for a total of 1,554,800 jobs since December 2010. Florida’s annual job growth rate has outpaced the nation for 74 of the past 75 months. The only month that Florida did not exceed the nation was due to Hurricane Irma. In June, Florida’s unemployment rate remained at a low 3.8 percent, a drop of 7 percentage points since December 2010; this drop is faster than the national decline of 5.3 percentage points.

Governor Scott said, “As Florida’s economy continues to create thousands of jobs every month, we proudly serve as a model for the nation on how to build business and secure continued economic growth and success. Our playbook of cutting taxes and eliminating thousands of burdensome regulations has created real momentum in Florida, allowing us to make historic Investments in things families care about – like education, safe neighborhoods and our environment. As our economy keeps booming and bringing thousands of families to Florida, the entire country is taking note.”

Florida’s annual job growth rate of 2.3 percent continues to exceed the nation’s rate of 1.9 percent. In the past year, 130,000 people entered Florida’s labor force, a growth of 1.3 percent, which is greater than the national labor force growth rate of 1.2 percent.

Cissy Proctor, Executive Director of the Florida Department of Economic Opportunity, said, “The addition of nearly 17,000 new jobs and Florida’s continuous low unemployment rate is a testament to the strength of our economy. Private sector businesses have confidence in Governor Scott’s leadership and the business-friendly environment he has built. They are investing in our state and creating new jobs for hardworking Floridians every month.”

Other positive economic indicators include:

  • Private-sector industries gaining the most jobs over-the-year were:
    • Leisure and hospitality with 41,700 new jobs;
    • Construction with 33,100 new jobs;
    • Professional and business services with 22,800 new jobs;
    • Education and health services with 19,100 new jobs; and
    • Trade, Transportation, and Utilities with 19,000 new jobs.
  • Florida job postings showed 232,360 openings in June 2018.
  • Consumer Sentiment is 98.3, up from 67.0 in 2010.

 

To view the June 2018 employment data visit www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.

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Gov. Scott: More Than 88,000 New Businesses Opened in Florida Since Dec. 2010

TALLAHASSEE, Fla. (July 26, 2018) – Today, Governor Rick Scott announced that 88,245 new businesses have opened in Florida since December 2010. Since Governor Scott took office, the number of private-sector employers in the Sunshine State has increased by more than 19 percent – helping lead Florida’s incredible economic turnaround.

Governor Scott said, “Today’s exciting news of more than 88,000 new businesses opening in Florida over the past seven years makes one thing very clear – our state’s economy is booming. When I took office, our economy was in freefall, taxes had skyrocketed and businesses across the state were forced to close their doors, causing unemployment to climb out of control. Less than eight years later, Florida is not only back on track, but we are serving as the success and turnaround story for the entire nation to follow.

“With more than 1.5 million new private-sector jobs and 88,000 new business, it is undeniable that our playbook of cutting taxes, eliminating burdensome regulations and building the country’s most business-friendly environment is working. I’m proud of our great businesses and we’ll never stop fighting to make sure Florida is the best place for families to succeed.”

Florida Department of Economic Opportunity Executive Director Cissy Proctor said, “We are excited that businesses are confident in our economy and choosing to make Florida their home. Our pro-business policies are supporting an environment where small, medium and large businesses can succeed and create opportunities for families across the state.”

DEO provides numerous resources to help Floridians start or grow their businesses. To learn more about small business programs, click HERE. To learn about all of DEO’s business resources, click HERE.

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