ST. PETERSBURG, Fla. – Florida's economy has topped $1 trillion, meaning that if Florida was its own nation, it would have the 17th-largest economy in the world.
The Florida Chamber Foundation report on the growth said that makes the state's economy bigger than Switzerland, Saudi Arabia, Argentina and the Netherlands.
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The Chamber found the state is adding about $2.74 billion to the state's gross domestic product each day.
“Becoming a $1 trillion economy means Florida is continuing to grow and create jobs, keeping unemployment lower than the national average, and creating economic opportunity,” said Dr. Jerry Parrish, the foundation's chief economist.
Despite hitting the $1 trillion mark, there's still room to grow. Wage growth has long been pointed to by economists as an area Florida's economy -- and the national economy -- need to address to continue growing.
The chamber has launched the "Florida 2030" initiative to address problem areas in the economy, such as the achievement gap in schools and the poverty rate.
The report noted that while the achievement gap is closing, 43 percent of Florida third graders aren’t reading at or above grade level. And while 1 in 14 jobs in the nation are created in Florida, our state’s 14.8 percent poverty rate includes 21.3 percent of children under age 18.