Why businesses and workers are flocking to the Sunshine State
The latest domestic migration statistics are in, and they show that Florida’s population continues to grow despite the ongoing pandemic.
As the third most populous state in the United States, Florida continues to attract highly-skilled workers who are looking for respite from the high cost of living afforded by other US states. Orlando, in particular, remains a popular location for both population growth and job growth.
What’s especially interesting this year is the news that several leading national and global companies are leaving states like California and New York, and either opening new offices or fully relocating to the Sunshine State—reportedly to take advantage of the low taxes and warmer weather.
To help you get to grips with all the data, we’ve compiled a selection of the top domestic migration statistics you should know.
Here are the key takeaways on domestic migration to Florida:
Population Growth
– Florida gained an estimated 240,256 people between July 1, 2019, and July 1, 2020. [1]
– Florida was the No. 3 U-Haul growth state in 2020, calculated by the net gain of one-way U-Haul trucks entering a state versus leaving that state in a calendar year. [2]
– Florida’s population from April 1, 2020, to April 1, 2025, is expected to increase by 303,264 residents a year — or 831 people per day. [3]
– Florida’s population is projected to increase by 6 million people for a total population of nearly 26 million by 2030. [4]
Business Moves
– Leading companies (including financial giants like Goldman Sachs, Elliott Management, and Charles Schwab) are opening new offices or fully relocating to Florida. [5]
– As Central Florida’s largest industrial user, Amazon absorbed 2.2 million square feet in Central Florida in 2020. To put that in perspective: The company absorbed a combined 2.1 million square feet between 2014 and 2019. [6]
– The Walt Disney Co., owner and operator of Walt Disney World and the largest employer in Central Florida, is reportedly in talks to relocate some of its office divisions from its headquarters in California to Lake Nona, southeast Orlando. [7]
Job Opportunities
– Orlando was recently ranked as the second-best city in Florida for jobs by WalletHub, based on employment opportunities, job growth, average starting salary and socioeconomic factors. [8]
– Orlando made the #7 spot on RCLCO’s 2020 STEM Job Growth Index, beating out San Francisco, San Jose, and New York. [9]
Did you find these domestic migration statistics helpful?
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Sources:
1: U.S. Census Bureau | July 1, 2020 Estimates of Population and Housing Units
2: U-Haul | 2020 Migration Trends
3: Office of Economic & Demographic Research | Demographic Estimating Conference Executive Summary
5: Business Insider | Are Texas and Florida the new California and New York?
8: WalletHub | 2021’s Best Cities for Jobs
9: RCLCO | 2020 STEM Job Growth Index
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