Florida is likely to continue to attract seniors and retirees, but how much it will attract others will depend on what happens to home prices and economic growth in both states.
“What’s new is that Florida has emerged as an alternative to industries that have historically been important to California,” said Joel Kotkin, a fellow at Chapman University who has written extensively on California’s demographic, social and economic trends.
That includes technology and the commercial space industry, he said, and the expansion of its ports. Venture capital inflows will help Florida continue to grow. Last December, Florida announced $2 billion in investment from asset manager BlackRock.
To some extent, this is a pattern in many parts of the country. At least in part, that’s because, as technology-related industries have evolved and matured, spawning an endless array of new goods and services, it’s no longer necessary for all businesses to be located in cities and states. where everything began.
Still, few people anticipate a flood of Californians heading to Florida. There are plenty of other alternatives much closer, particularly Texas, Arizona, and Nevada, which have long been the top three destinations for Californians.
Plus, Kotkin said, “Californians never had the motivation to move to Florida because of the weather.”