Tuesday, November 21, 2017
Business

Post-recession Florida ranks among more expensive states

RECOMMENDED READING


It's no surprise that Washington, D.C., Hawaii and New York continue to rank among the most expensive places to live.

But Florida's once-ingrained reputation as a cheap state — comparatively speaking — is taking a hit.

It costs less to live in 33 states other than in Florida based on the latest analysis from the U.S. Department of Commerce. Snowbird states like Michigan, Ohio, Indiana and Pennsylvania all rank as more affordable.

Florida tied with Oregon as 16th on the department's affordability index, released Thursday in tandem with new personal income data. The new comparison tool, dubbed Regional Price Parities, measure the state-by-state differences in the price levels in a given year for goods and services such as food, energy and housing.

"For the first time, Americans looking to move or take a job anywhere in the country can compare inflation-adjusted incomes across states and metropolitan areas to better understand how their personal income may be affected by a job change or move," U.S. Secretary of Commerce Penny Pritzker said in a statement. "Businesses considering relocating or establishing new plants also now have a comprehensive and consistent measure of differences in the cost of living and the purchasing power of consumers nationwide."

The index expresses costs in an area as a percentage of the overall national price level for each year, which is set at 100.

The most expensive locale, Washington, D.C., had an index rating of 118.2; the least expensive state, Mississippi, stood at 86.4. Florida came in just under the national baseline at 98.8.

Sean Snaith, an economist with the University of Central Florida, said Florida's evolution into a higher-cost state is to be expected as migration here continues.

"One of the things that comes along with the economy growing … is a higher cost of living. That's why it's more expensive to live in Manhattan than Des Moines," he said.

"The recession aside, Florida had been on a pretty steady growth trajectory. And it looks like we're back on it."

On the income side of the equation, meanwhile, the Commerce Department served up a mixed report for Florida.

Florida can tout that total personal income rose 2.5 percent in 2012, faster than the national average of 2.1 percent. But that's only because of a surge in the state's population.

Per-capita income statewide was up a more modest 1.2 percent between 2011 and 2012 — from $38,736 to $39,225.

Growth in real state personal income from 2011 to 2012 ranged from a 1.2 percent drop in South Dakota to a 15.1 percent jump in North Dakota.

Comments
Eight women say Charlie Rose sexually harassed them - with nudity, groping and lewd calls

Eight women say Charlie Rose sexually harassed them - with nudity, groping and lewd calls

Eight women have told the Washington Post that longtime television host Charlie Rose made unwanted sexual advances toward them, including lewd phone calls, walking around naked in their presence, or groping their breasts, buttocks or genital areas.Th...
Updated: 9 hours ago
St. Petersburg council okays restaurant deal for Manhattan Casino

St. Petersburg council okays restaurant deal for Manhattan Casino

ST. PETERSBURG — The City Council on Monday approved a lease for the Manhattan Casino, a landmark building in the city’s historic African-American business and entertainment community.It was a controversial decision for some of the city’s black resid...
Updated: 9 hours ago
Tampa Electric, contractor fined $43,000 in gas leak

Tampa Electric, contractor fined $43,000 in gas leak

APOLLO BEACH — The federal Occupational Safety and Health Administration fined Tampa Electric $18,108 and gave the company two "serious" citations for its response to a gas leak at the Big Bend Power Station in May, the agency announced late Friday.T...
Updated: 10 hours ago
Forecast: Florida retailers expect strong holiday shopping sales

Forecast: Florida retailers expect strong holiday shopping sales

‘Tis the season for holiday shopping, and this year is expected to be particularly kind to retailers.The Florida Retail Federation’s holiday shopping forecast predicts that a combination of high consumer confidence, strong tourism numbers and a littl...
Updated: 10 hours ago
Up for sale? Activist investor grabs stake in Tampa’s Bloomin’ Brands

Up for sale? Activist investor grabs stake in Tampa’s Bloomin’ Brands

TAMPA — If you tread water too long in the same spot, someone might start asking why you’re not trying to swim somewhere.Tampa’s Bloomin’ Brands — parent company of such prominent restaurant chains as Outback Steakhouse, Carrabba’s Italian Grill and ...
Updated: 10 hours ago
Glenn Thrush, New York Times reporter, accused of sexual misbehavior

Glenn Thrush, New York Times reporter, accused of sexual misbehavior

The New York Times said Monday that it was suspending Glenn Thrush, one of its most prominent reporters, after he was accused of sexually inappropriate behavior.The move came after the website Vox published a report containing allegations that Thrus...
Published: 11/20/17
Most air travelers say taking off your shoes is okay. An etiquette expert disagrees

Most air travelers say taking off your shoes is okay. An etiquette expert disagrees

Unless you are ensconced in first class, sleeping on a plane is as intimate as dozing off in a waiting room on jury duty — everyone on the aircraft knows the decibel level of your snoring and the sad state of your socks.To gauge how passengers percei...
Published: 11/20/17
Senator Nelson on tax reform bill: Small business will ‘get it in the neck.’

Senator Nelson on tax reform bill: Small business will ‘get it in the neck.’

TAMPA — A week ahead of the expected vote on a controversial tax reform bill, U.S. Sens. Bill Nelson and Ron Wyden, D-Ore., visited Tampa to deliver a message to small businesses: This bill will hurt you."Small businesses are the economic engine of F...
Updated: 6 hours ago

Stolen car crashes in St. Pete, leaving passenger, 15, with life threatening injuries

Two boys in a stolen car struck a dip in the roadway and crashed into a tree, leaving the 15-year-old passenger with life-threatening injuries, St. Petersburg police said.The crash occurred about 11:25 a.m. Sunday as the car sped west on 11th Avenue ...
Published: 11/19/17
Updated: 11/20/17

Search suspended for missing Cortez boater who left from Egmont Key

The U.S. Coast Guard suspended its search for a missing 63-year-old boater on Sunday evening, two days after he and his dog were reported missing 5 miles northwest of Mead Point, just inland from Anna Maria Island.On Friday, Fraser Horne of Cortez le...
Published: 11/19/17