Economic development in the Sunshine State last year far surpassed nationwide growth according the U.S. Bureau of Economic Analysis report. It even surpassed the state’s performance in 2013 which is all great news for local business owners and residents. A flourishing economy is the ideal breeding ground for future development and best case scenario for existing industry.

In terms of economic growth, Florida came in 11th among the 50 U.S. states in 2014, moving up 7 notches from last year. This new data makes Florida the second best performance state along the Eastern coastline. An upward trend is developing and it’s one that South Florida residents and business owners would like to see continue.

As typical with any year-to-year statistical data, certain industries did fare better than others, and some that had topped the state’s growth chart in 2013 did not perform as well last year. Florida’s agriculture, fishing and hunting industry saw the second-biggest loss in 2014, after posting the biggest percentage growth in 2013. It was one of three industries that shrank in 2014, which might be because it’s one of the smallest industries in the state.

Nine South Florida financial institutions made DepositAccounts.com’s Top 200 lists of the healthiest banks and credit unions in America. The online banking information hub ranks banks and credit unions nationwide using Federal Deposit Insurance Corp. and National Credit Union Administration data. The lists are based on an analysis of credit troubles, risk, available capital, and deposit growth.

Of Florida’s 67 counties, Palm Beach and Broward County were among the Top 10 for the most incoming investments, according to a report from New York-based SmartAsset.

The study considered four metrics: business establishment growth, GDP growth, new building permits and municipal bond investments over a two-year period. With increased local investment and economic expansion, this study shows that Palm Beach and Broward County are experiencing balanced, consistent incoming investments…which means there is no better time than now to take part in the robust economic and industrial growth in these two communities.

Fortunately, Lakeside Executive Suites has everything you need to get started. Lakeside Executive Suites is Broward County’s premier choice for full service office space and virtual office solutions. We have everything your business needs from a prestigious business address to executive meeting rooms, live phone answering service, mail receipt and mail forwarding services, reception services, and a dedicated professional administrative support staff. Lakeside Executive Suites would like to help you become a part of the economic opportunity that awaits in Broward County. Visit us on the web at www.lesweston.com or call (954) 389-2511 to learn more.

Source: South Florida Business Journal