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South Florida is expected to outpace the state in personal income growth with the help of surging tourism and international trade, according to a new economic report released Friday by the University of Central Florida.
Personal income in Miami-Dade, Broward and Palm Beach counties is projected to grow 4.2 percent in 2012 — more than the state's estimated 3.9 percent increase, said Sean Snaith, author of the quarterly report that is published by UCF's Institute for Economic Competitiveness.
South Florida's strong rate of personal income growth is expected to help the state outperform the national average for first time since 2006, the institute predicted. Even better years are ahead for South Florida and the rest of the state, Snaith predicted.
"Although the recovery has been moving at the speed of a tortoise, rather than that of a hare, we all know who wins the race in the end," Snaith quipped in his report.
South Florida income growth to outpace rest of Florida - News
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