Florida’s economy is bouncing back well.
That’s the conclusion of a Wells Fargo analysis of the Sunshine State’s economy, which the report concludes is improving across the board.
“We expect Florida’s economy to continue to gradually gain momentum over the coming year,’’ the report said. “Job gains are broadening, with virtually every key sector, except residential construction, now seeing at least some modest gains.
“In some way, the lack of strong growth in residential and commercial construction should prove to be therapeutic for Florida,” the report continued. “With a such a large part of Florida’s economy struggling, businesses and policymakers have been forced to look to avenues for growth.”
Wells Fargo gives a nod to Florida’s growing bio-tech industry, which expanded at least in part thanks to state subsidies. The report also singles out Miami and Orlando as leaders in Florida’s recovery, thanks to growing tourism and trade industries.