More Americans are Migrating to Florida
Florida is growing exponentially in population and economy. Last year, the Sunshine State surpassed New York in its rise to become the third most populated state in America. While many people associate tourist-friendly Florida as the home of memorable vacations and retirees, studies conducted by the University of Florida’s Bureau of Economic and Business Research reveal a significant influx of Millennials and Baby Boomers migrating to call the Florida peninsula home.
Top States New Floridians Relocating From
The IRS’ Statistics of Income Division reveals that people from all over the nation are moving to Florida, although significant numbers are coming from New York, Georgia, Texas, New Jersey and Pennsylvania. Migration studies conducted by Pew show that counties in Florida have seen an increase in population compared to 2014, particularly in the Tampa Bay area. This growth has led to the Election Data Services estimating that Florida will gain additional congressional seats in 2020.
Nice Place to Live
Part of the population increase has been credited to families feeling financially free to move now that the economic recession is a part of the past. However, southwest Florida’s economic growth and favorable work-life balance has positioned it within the top 10% of “Nice Places to Live” within the USDA’s Economic Research Service database, with these counties placing high in the national ranking:
- Lee County
New Talent Driving Target Industries
While Florida continues to be a popular tourist destination for both national and international visitors, the swell in permanent residents is causing a change in demographics. With Lee County leading with a projected growth of 32.7% in the next 10 years, southwest Florida is ripe with new employment opportunities that are drawing more young professionals and families than in previous years. This influx of talent moving into southwest Florida is helping drive and sustain the growth of target industries such as cleantech, information technology and life sciences.