Florida TaxWatch: New Home Construction Bodes Well for Economy

On Thursday, Florida TaxWatch released a study which shows increased new home construction across the Sunshine State bodes well for the economy.

"Floridians are seeing evidence of economic recovery in every corner," said Dominic Calabro, the president and CEO of Florida TaxWatch, on Thursday. "New construction demand is growing, job creation is up, and for the first time since the recession, the state has a budget surplus and is sharing large tax cuts with hard-working Floridians. These positive indicators are giving taxpayers confidence, allowing them to spend more and generating state revenues."

The study shows more than 4,600 new single home starts each month, more than double what it was back in 2009.

"Increased investment by individuals and companies helps increase Florida's growth rate, giving businesses confidence to hire more workers," said Jerry Parrish, Florida TaxWatchs chief economist. "This is one more positive sign of the growing momentum in Florida's economy."

The study can be read here.