Posted November 23, 2016 12:04 pm - Updated November 26, 2016 01:29 pm

What the State Economic Forecast Means for us

According to one major economic firm, Florida’s economy is projected to continue to grow at a rate that outpaces the national average by upwards of 2%. While there was concern that Brexit would harm the tourism industry, it’s starting to look like things are taking a turn for the better. But large financial publications tend to focus only on the effects it will have in the major urban centers. What does this mean for those of us who live in the more remote areas?

The smaller towns will also see growth, although at a much slower rate. As jobs are created in major cities, it becomes a challenge for them to find workers. Before long, the cost of living increases. This forces businesses and citizens to seek out somewhere a little more affordable to live.

This is where the rest of the state can benefit. We’ll begin to see increased property values, better access to jobs, higher incomes, and lower unemployment rates. But for the next few years, it will mostly be a few select areas that see the largest benefit.

So, what should local residents do with that information? Well, if you were tightening up your finances to prepare for the worst, you can breathe easy. Now is a good time to invest in yourself. Whether you need a line of credit or a  online cash loan, putting that money into your home is a great idea. When property values do start to increase, it’s ideal to have your assets in peak performance. Statistically, home improvements add 150% of the equity you would have earned by simply investing cash.

If you’re not happy with your employment, now is a great time to start looking. There will likely be opportunities all over the state, you’ve just got to know where to look for them. This is the perfect opportunity for anyone who’s looking to change fields. You can take an entry level job now in an industry you’re interested in. When that industry starts to expand, you’ll be primed for a promotion. During times of growth, you can often move up the corporate ladder twice as fast.

The whole idea of moving and changing careers doesn’t appeal to all of everyone. Many are happy with where they live, and wouldn’t want to see anything changes. Fortunately, you don’t have to. While there is certainly a lot more opportunities for those who want to look for it, it’s nothing like it is in the city. There might be a few extra jobs, and house prices might go up enough to provide owners with a little nest egg. But it’s not like anyone is going to be priced out of the market.

The most important thing we can take away from all of this is that we’re secure. Even brief talk of decline had many people worried. But fortunately, it looks like things are turning around. At least until 2020, we can look forward to four years of prosperity and opportunity. As long as you put a little aside for a rainy day, you can enjoy the blue skies ahead.