STATE FOCUS | FLORIDA
Florida ranks sixth in terms of the overall share of people with accounts in distress, at 7.3%.
and economic metrics; and its Talent Pipeline project works to bridge the skills gap by connecting education and business needs. “If Florida were a country, it would rank as the
15th largest economy in the world,” adds Morby. “The state’s unemployment rate has remained below the national average since 2020 – currently 4.3% compared to 4.4% nationally.” Morby also points out that although Florida’s
labor market has experienced workforce shortages in recent years, it is beginning to rebalance. Currently, around 115 people are looking for work for every 100 open jobs, giving employers a larger pool of potential workers. However, many businesses still face a skills mismatch, particularly in technical and skilled trades. For example, the foundation’s data shows that
there are currently more than 1,000 job postings state-wide for industrial machinery mechanics, but fewer than 50 completions in directly related programmes over the past year. “Aligning education and workforce training with employer demand remains a big priority,” she adds. “Florida’s business-friendly environment continues to support key industries, including manufacturing, logistics, construction and infrastructure. The state ranks in the top five for business tax climate, is the second-best state for business according to some sources and leads
46 Spring 2026 |
ochmagazine.com
the nation in new business start-ups and relocations.” On top of that, population growth and in-migration have fueled Florida’s economic momentum in recent years. Though growth is expected to slow in 2026, it will likely remain positive. Sustaining the state’s competitiveness will depend on expanding workforce opportunities, closing skills gaps and increasing access to affordable housing to attract and retain talent needed to support Florida’s diverse industries,” Morby remarks.
Mixed signals Amidst this complex picture of a challenging economic backdrop but investment in port infrastructure and a local economy that is bucking the national trend, what is the outlook for the crane and hoist industry across the state? Globally, the industry is expected to continue
growing from an estimated $24.8bn in 2025 to around $32bn by 2035, according to some sources, and its critical role in industrial and infrastructure development could no doubt push it to grow even faster. While bridge cranes are the largest revenue-generating type, gantry cranes are expected to see the fastest growth due to their flexibility in construction and port applications.
With port infrastructure projects so crucial to Florida’s infrastructure development in the next few years, local crane companies are likely to be busy, and the construction boom – particularly around Miami, Tampa, Orlando and Jacksonville – is a powerful driver of demand for overhead lifting equipment, not only in residential development, but also many commercial and industrial projects. Add in the growth in manufacturing and logistics, and there are many positive signs for the industry in Florida, particularly due to the willingness of investors to build out infrastructure in key sectors such as ports, logistics and manufacturing. The ability of the local economy to outperform the national trend is also a very good sign, though there are clear concerns about national economy trends and their potential effects. The biggest concern of all is not whether
the current political regime’s policies will be effective, but whether they will remain consistent. Industry thrives on predictability when it comes to the economic situation, and regardless of one’s political leanings, there is no doubt that uncertainty prevails in terms of policy and predictions of the future. Volatility can create opportunity, that much is true, but it does make investing for the future more of a risky enterprise. There is little doubt, however, that Floridians will do whatever it takes to weather any storms that come – it is in their blood.
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