STATE FOCUS | FLORIDA
a key concern among many residents. This is against the highly polarised political backdrop, where education, immigration, foreign and trade policy and social issues can be highly divisive. The state leads the nation in foreclosure filings, with data from real estate market analysts at ATTOM suggesting the highest foreclosure rate in the US is driven by surging insurance costs, taxes and high, post-pandemic home prices. Some sources report that despite having one
of the strongest state economies in the US, some residents are facing ‘working homelessness’ due to long-term shortage of housing combined with financial challenges as costs of living rise faster than wages. At the same time the rapid population growth that has led to the shortfall in housing has also put more strain on local infrastructure. Personal finance platform Wallethub
recently released a report that suggests the state witnessed a 23% increase in the share of people with distressed bank accounts between 2024 and 2025, the data show. Furthermore, it claims that Florida ranks sixth in terms of the overall share of people with accounts in distress, at 7.3%. Economic forecasts seem to differ almost as much as political views across a nation that is entrenched in an ideological battle for hearts
and minds, but a report in late 2025 by Moody’s Analytics suggests that 22 states are facing downturns, particularly those reliant on agriculture or manufacturing, and that where there is growth it is fragile. The much-debated tariffs that are being used
as leverage in a global trade war are certainly pushing up prices in many industries, though there is disagreement over whether they are bringing manufacturing back to the US, but labour shortages and federal job cuts are also cited as factors exerting downward economic pressure. Despite its problems, as of late 2025, Florida is among the states that is still setting growth despite the potential headwinds arising from national economic policy shifts. Indeed, over the past four years, Florida’s GDP growth has outpaced the US average by more than 2%. “Florida continues to outperform the national economy and remains an attractive state for business investment,” says Sheridan Morby, senior research economist at the Florida Chamber Foundation, a non-profit research and education organisation affiliated with the Florida Chamber of Commerce. The foundation focuses on securing Florida’s future through data-driven, long-term economic
planning. It works with business leaders to create a more competitive, diverse economy, primarily through initiatives like the Six Pillars framework and the Florida 2030 Blueprint. Overall, the Foundation acts as a non-partisan, proactive research arm aimed at fostering growth, expanding economic opportunity and promoting a business-friendly environment for the state. The Six Pillars framework is a strategic
plan focusing on talent supply and education, innovation and economic development, infrastructure and growth, business climate, civic and governance systems and quality of life. Many of these pillars, notably talent supply and infrastructure, have a direct bearing on the crane and hoist sector. So, too, does the Florida 2030 Blueprint, which is a long-term research initiative aimed at preparing for a projected population of 26 million and the need for over one million new jobs. The Florida Prosperity Initiative is another of the foundation’s projects, and it aims to break the cycle of generational poverty by targeting root causes at the zip code level. The foundation’s economic research
programme produces data, such as The Florida Scorecard, to track progress on jobs, education
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