Florida’s digital economy nears $76 billion, five percent of GDP: report

MIAMI – A new report released by the Computer and Communications Industry Association Research Center, or CCIA, shows Florida’s digital economy has contributed nearly $76 billion to the state, or 5% of its gross domestic product, or GDP.

According to data obtained through the U.S. Bureau of Economic Analysis and the Census Bureau, Florida is home to over 30,000 digital firms while employing 425,300 people. State companies also contribute $5.4 billion worth of digital goods and services being exported or 6% of the nation’s total.

The report also noted the United States totals 383,000 digital firms and employs over eight million people.

In conjunction with its growth, Florida Gov. Ron DeSantis announced in June the state grew by 21.9 percent from the first quarter of 2019 to the first quarter of 2024. DeSantis also noted Florida’s output nearly doubled the national growth rate of 11.1 percent during the same period.

Furthermore, the state’s private sector job growth rate increased 2.2%, or nearly 200,000. The mark also outpaced the national rate of 1.6% over the same period.

Overall, Florida’s annual GDP is nearly $1.3 trillion. The state also added 3 million new business formations since 2019, including more than 260,000 already this year.

Florida Republican Sen. Rick Scott also has spearheaded efforts to grow the state’s economy.

“With yet another major economic milestone like this, Florida demonstrates to the nation that leadership matters,” DeSantis said “Our responsible governance and fiscal constraint mean our state economy has significantly outperformed the national economy, with nearly double the GDP growth rate.”

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