The private-sector-led "Beyond Sunshine"
strategy can focus resources, accelerate Florida's growth trajectory, and strengthen
the state's economic future
TAMPA, Fla., June 26, 2024 /PRNewswire/ -- The Florida
Council of 100, a group of over 150 business leaders dedicated to
fostering economic growth and improving the quality of life in
Florida, today announced a
first-of-its-kind economic development strategy to harness the
private sector and propel Florida
into a new era of success. The "Beyond Sunshine" initiative,
detailed in a report released today, provides a roadmap to leverage
the Sunshine State's regional strengths and attract jobs in
higher-wage industries, promoting long-term economic resilience and
a better future for all Floridians.
With an annual GDP of nearly $1.3
trillion, Florida has grown
in recent decades into a thriving hub ideal for locating and
building globally competitive businesses. The Beyond Sunshine
strategy outlines a path to sustain and accelerate this growth.
Developed by the Florida Council of 100 in partnership with state
economic development leaders, the strategy focuses resources to
nurture higher-wage economic clusters in Florida's six major regional economies and
three rural areas of opportunity. Florida Council of 100 research
indicates that investment in these clusters and regions could add
up to 200,000 new jobs in higher-wage industries in Florida by 2030, contributing nearly
$100 billion in added GDP to the
nation's fourth-largest economy.
"Florida has an incredible
opportunity to accelerate growth and cement our place as a global
leader in entrepreneurship, research, innovation, and commerce,"
said Florida Council of 100 Chair Eric
Silagy. "Through targeted investments in higher-wage
sectors, we will not only navigate the rapidly changing economic
and technological landscape—but help to shape it for the benefit of
everyone who calls Florida home
today and for future generations."
Florida boasts the
second-lowest unemployment rate among the top 10 largest states and
leads in GDP and income growth rates. Its favorable business
climate, characterized by low taxes and light-touch regulation,
supports a thriving entrepreneurial ecosystem that has seen over
266,000 new businesses formed in Florida in 2024 alone. Additionally,
Florida was the top state for
corporate relocations in 2023. Florida's educational system, ranked first in
the nation, provides a robust talent pipeline for emerging
industries.
The Beyond Sunshine strategy outlines three priorities to build
on this strong foundation and ensure continued economic growth:
- Nurturing Existing Higher-Wage Economic Clusters:
Focusing investment in regional clusters of opportunity in sectors
poised for additional growth, such as aerospace, financial
services, e-commerce, clean technology, biotechnology, and
manufacturing, to drive regional economic specialization and
expansion.
- Higher-Wage Job Creation: Coordinating with university,
state college, career and technical education (CTE) programs, and
industry partners to align education and workforce development with
higher-wage job opportunities and catalyze economic activity across
sectors.
- Elevating Florida's
Economic Success Story: Changing perceptions both domestically
and internationally to highlight Florida as the best place to start a career,
build wealth, and raise a family.
The Florida Council of 100 will coordinate implementation of the
Beyond Sunshine strategy, working in partnership with regional
economic development organizations, education partners, and the
state to steer investment to higher-wage sectors, align talent with
opportunity, and address challenges to sustained expansion.
"Working in partnership with our state and regional leaders, the
Florida Council of 100 is uniquely positioned to help businesses
align with higher-wage industries and drive the next stage of our
economic development," said Florida Council of 100 President &
CEO Michael Simas. "Our goal is
attracting even more investment to these industries in Florida, building resilience and ensuring the
state remains the destination of choice for businesses, investors,
employees, and their families."
"I applaud the Florida Council of 100 for laying out this
data-driven strategy to accelerate economic growth and elevate
Florida's communities and
families," said Florida Secretary
of Commerce J. Alex Kelly.
"Florida's economic ecosystem
provides certainty for entrepreneurship and innovation to thrive
and is well-equipped to chart a course toward our next stage of
development. I look forward to partnering with the Council to make
the state an even better place to work and live."
For more information about the Beyond Sunshine report and the
Florida Council of 100, visit
https://fc100.org/research/beyond-sunshine
The Florida Council of 100 is a private, nonprofit,
nonpartisan organization of business leaders committed to promoting
economic growth and improving the quality of life for the people of
our state. First established in 1961 by Governor Farris Bryant, for more than six decades, the
Council has been charged with providing advice on key policy issues
from the business community's perspective to Florida's elected leaders and government
officials across the political and ideological spectrum. Today, the
Florida Council of 100 represents 150 businesses with over 1.3
million employees.
Contact: Greg Brostowicz,
greg@mcnicholas.biz
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SOURCE The Florida Council of 100