What America can learn from Florida’s boom

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What America can learn from Florida’s boom
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  • 📰 TheEconomist
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Florida has overtaken New York to become America’s third-most-populous state. Its economic and political heft is growing, too

Save time by listening to our audio articles as you multitaskIn fact, Florida has become emblematic of much of America and central to all of it. The state is on the rise, as our special report this week explains. Between 2010 and 2020 its population grew at double the national rate. Florida has overtaken New York to become America’s third-most-populous state after California and Texas, with a dynamic and diverse demography, including fast-rising numbers of Hispanics.

The young are also more affected by the threats Florida faces, nowhere more so than over the environment, Florida’s biggest draw as well as its most acute vulnerability. A fifth of its property is at “substantial” risk of flooding because of rising sea-levels. Its Republican governor, Ron DeSantis, was elected as an environmentalist and has invested in programmes that fund cities’ “resilience”, but the state needs to do much more.

Lastly, Florida offers a case study in economic policy. It charges no income tax, which enhances its appeal, as do the pro-business attitudes of the state’s leaders. The pandemic has prompted people and firms to reconsider where they want to be based, leading many to move out of high-tax, high-regulation states to Florida and Texas, which are pro-business and tax-light. Silicon Valley and Wall Street types are attracted to a place where politicians welcome them and never condemn their success.

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