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

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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
Office of Economic and Demographic Research Review of Federal Funding to Florida in Fiscal Year 2009 vii
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Review of Federal Funding to Florida - Office of Economic ...

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