Opt For Quality, Not Cut-Rate

Published: Dec 20, 2007

No matter what economic surprises await over the horizon, the Florida Chamber of Commerce Foundation is right that a cornerstone of smart planning must include a vigorous quest for the best jobs and an increased emphasis on excellence in education.

The era of low-cost living in Florida is over. But if the chamber is right, the construction industry will soon snap back from the current "short-term correction." It rightly warns that in the years ahead the state's economy cannot depend on a building boom driven by rapid population growth.

Another analysis on Florida's prospects supports that view. The LeRoy Collins Institute predicts that affluent retirees will flock to Florida in coming years, especially if the state maintains a high quality of living.

Luring newcomers with big tax breaks would be a mistake, though, especially considering the need to invest more heavily in higher education. The Collins report, "Tough Choices Remain for Florida," warns that providing education "on the cheap" threatens Florida's future.

Both reports remind us that Florida's prospects are bright if it sets its sights high.

A number of factors, including higher insurance rates, soaring energy prices, higher taxes, and a backlog of infrastructure needs, suggest Florida can't compete for the lowest costs of living and lowest-paying jobs.

The most useful parts of the chamber economic report card are its many indicators of financial and civic health. Business leaders know that what you measure is what you work to improve.

The chamber has given politicians and voters an economic report card with historic benchmarks that everyone should use to hold elected and appointed leaders accountable.

Florida's economic snapshot

Encouraging signs

Job growth: Strong

Per capita income: Increasing

State economy: Growing

Exports: Expanding

Test scores: Up

Equity: less poverty

Warning signs

Migration: Some folks leaving

Cost of doing business: Rising

Foreign visitors: Down

Research spending: Lacking

College degrees: No change

Livability: Crime up

Source: Florida Chamber of Commerce Foundation