DowntownFTL: a Leading Economic Engine
August 22, 2023
Thriving downtowns elevate the economic health and wellbeing of entire regions. A new report by Walter Duke + Partners highlights Downtown Fort Lauderdale’s rise as a top economic engine contributing to the success of Broward County and the State of Florida.
DowntownFTL’s Annual Economic Impact
Broward County’s 2.2 square mile urban core has an annual economic impact of $35.7 billion, a $6 billion increase from 2019. This annual economic output is equivalent to:
More than one-quarter of Broward County’s Gross Domestic Product.
Broward's Leading Economic Engines
Downtown Fort Lauderdale is now one of the three largest economic engines critical to the success of the second largest county in the nation’s third biggest state. These three economic engines combined generate more than $105 billion annually to the local economy and benefit from their proximity to one another.
Influx of Property Tax Revenue
Downtown generates $138 million annually in property tax revenue. The growth of the County Seat is driving a significant influx of new revenue to local governments. Property tax revenue generated by Fort Lauderdale’s urban core has tripled over the past 10 years, adding more than $85 million in support of essential community projects.
Dive deeper and read the full report at: www.ddaftl.org/resources.