Review of Federal Funding to Florida - Office of Economic ...

Office of Economic and Demographic Research
The Federal Funding chart on the following
page shows the relative magnitude of various
federal spending programs in Florida.
However, in terms of Florida’s economy, the
infusion of federal direct expenditures has the
most immediate impact. While the provision
of other financial assistance - particularly the
flood insurance portion - is vitally important
to Florida’s longer term financial health, the
real economy benefits most directly from the
annual federal spending that transfers into
ongoing purchases of goods and services. In
this regard, federal direct expenditures were
equal to 26.1% of the state’s real gross
domestic product in 2009.
Many of the federal dollars directly increase
the purchasing power of individuals. Among
the states, Florida ranked 9 th and 5 th ,
respectively, in per capita Social Security
payments and Medicare Benefits spending in
2009. As the Classification of State Receipts
chart on the following page illustrates, the
State of Florida is also heavily reliant on
federal dollars as well. In terms of the
revenues flowing into the state’s accounting
system, stimulus-boosted federal assistance
made up 41.2% (about $28.4 billion) of all
state revenues received in fiscal year 2009-10.
vi Review of Federal Funding to Florida in Fiscal Year 2009