Florida
From Wikinvestor
Florida is a state located in the southeastern region of the United States, bordering Alabama to the northwest and Georgia to the northeast. Much of the land mass of the state is a large peninsula with the Gulf of Mexico to the west and south, and the Atlantic Ocean to the east. Most of Florida has a humid subtropical climate; southern Florida has a tropical climate. Florida was named by Juan Ponce de León, who landed on the peninsula on April 2, 1513. Florida is the fourth most populous state in the U.S.
Contents |
Geography
Much of the state of Florida is situated on a peninsula between the Gulf of Mexico, the Atlantic Ocean, and the Straits of Florida. It extends to the northwest into a panhandle, extending along the northern Gulf of Mexico. It is bordered on the north by the states of Georgia and Alabama, and on the west, at the end of the panhandle, by Alabama. It is near several Caribbean countries, particularly The Bahamas and Cuba. Florida's extensive coastline made it a perceived target during World War II, so the government built airstrips throughout the state; today, approximately 400 airports are still in service. According to the National Drug Intelligence Center, Florida has 131 public airports, and more than 700 private airports, airstrips, heliports, and seaplane bases. Florida is one of the largest states east of the Mississippi River, and only Alaska and Michigan are larger in water area.
The Florida peninsula is a porous plateau of karst limestone sitting atop bedrock. Extended systems of underwater caves, sinkholes and springs are found throughout the state and supply most of the water used by residents. The limestone is topped with sandy soils deposited as ancient beaches over millions of years as global sea levels rose and fell. During the last glacial period, lower sea levels and a drier climate revealed a much wider peninsula, largely savanna. The Everglades, an enormously wide, very slow-flowing river encompasses the southern tip of the peninsula.
Because Florida is not located near any tectonic plate boundaries, earthquakes are very rare, but not totally unknown. In January, 1879, a shock occurred near St. Augustine. There were reports of heavy shaking that knocked plaster from walls and articles from shelves. Similar effects were noted at Daytona Beach 50 miles (80 km) south. The tremor was felt as far south as Tampa and as far north as Savannah, Georgia. In January 1880, Cuba was the center of two strong earthquakes that sent severe shock waves through the city of Key West, Florida. Another earthquake centered outside Florida was the 1886 Charleston earthquake. The shock was felt throughout northern Florida, ringing church bells at St. Augustine and severely jolting other towns along that section of Florida's east coast. Jacksonville residents felt many of the strong aftershocks that occurred in September, October, and November 1886. As recently as 2006, a magnitude 6.0 earthquake centered about 260 miles (420 km) southwest of Tampa in the Gulf of Mexico sent shock waves through southwest and central Florida. The earthquake was too small to trigger a tsunami and no damage was reported. A map of Florida showing county names and boundaries The beach at Bahia Honda in the Florida Keys
At 345 feet (105 m) above mean sea level, Britton Hill is the highest point in Florida and the lowest highpoint of any U.S. state.[21] Much of the state south of Orlando is low-lying and fairly level; however, some places, such as Clearwater, feature vistas that rise 50 to 100 feet (15 – 30 m) above the water. Much of Central and North Florida, typically 25 miles (40 km) or more away from the coastline, features rolling hills with elevations ranging from 100 to 250 feet (30 – 76 m). The highest point in peninsular Florida, Sugarloaf Mountain, is a 312-foot (95 m) peak in Lake County.
Climate
The climate of Florida is tempered somewhat by the fact that no part of the state is very distant from the ocean. North of lake Okeechobee, the prevalent climate is humid subtropical climate, while south of the lake has a true tropical climate. High temperatures in the state seldom exceed 100 °F (38 °C), with much of Florida commonly seeing a high summer temperature above 90 °F (32 °C).
Cold fronts can occasionally bring high winds and colder temperatures to the entire state during late fall and winter. One such front swept through the peninsula on November 25, 1996, bringing cold temperatures and winds up to 95 miles per hour (150 km/h), knocking out power to thousands and damaging mobile homes[citation needed].
The hottest temperature ever recorded in the Florida was 109 °F (43 °C), set on June 29, 1931 in Monticello. The coldest was–2 °F (−19 °C), on February 13, 1899, just 25 miles (40 km) away, in Tallahassee. Mean high temperatures for late July are primarily in the low 90s Fahrenheit (32–35 °C). Mean low temperatures for late January range from the low 40s Fahrenheit (4–7 °C) in northern Florida to the mid-50s (≈13 °C) in southern Florida.
The seasons in Florida are determined more by precipitation than by temperature, with the hot, wet springs and summers making up the wet season, and mild to cool, and the relatively dry winters and autumns, making the dry season. Florida as imaged by NASA's Terra satellite
The Florida Keys, being completely surrounded by water, have a tropical climate with lesser variability in temperatures. At Key West, temperatures rarely exceed 90 °F (32 °C) in the summer or fall below 60 °F (16 °C) in the winter, and frost has never been reported in the Keys.
Florida's nickname is the "Sunshine State", but severe weather is a common occurrence in the state. Central Florida is known as the lightning capital of the United States, as it experiences more lightning strikes than anywhere else in the country. Florida has the highest average precipitation of any state, in large part because afternoon thunderstorms are common in most of the state from late spring until early autumn. A fair day may be interrupted with a storm, only to return to sunshine an hour or so later. These thunderstorms, caused by overland collisions of moist masses of air from the Gulf of Mexico and Atlantic Ocean[citation needed], pop up in the early afternoon and can bring heavy downpours, high winds, and sometimes tornadoes. Florida leads the United States in tornadoes per square mile (when including waterspouts) but they do not typically reach the intensity of those in the Midwest and Great Plains. Hail often accompanies the most severe thunderstorms.
Snow in Florida is a rare occurrence. During the Great Blizzard of 1899, Florida experienced blizzard conditions; the Tampa Bay area had "gulf-effect" snow, similar to lake-effect snow in the Great Lakes region. During the 1899 blizzard was the only time the temperature in Florida is known to have fallen below 0 degrees Fahrenheit (−18 °C). The most widespread snowfall in Florida history occurred on January 19, 1977, when snow fell over much of the state, as far south as Homestead. Snow flurries fell on Miami Beach for the only time in recorded history. A hard freeze in 2003 brought "ocean-effect" snow flurries to the Atlantic coast as far south as Cape Canaveral.[28]
The 1993 Superstorm brought blizzard conditions to the panhandle, while heavy rain and tornadoes beset the peninsula. The storm is believed to have been similar in composition to a hurricane, some Gulf coast regions even seeing storm surges of six feet or more. Hurricane Andrew bearing down on Florida on August 23, 1992.
Hurricanes pose a severe threat during hurricane season, which lasts from June 1 to November 30, although some storms have been known to form out of season. Florida is the most hurricane-prone US state, with subtropical or tropical water on a lengthy coastline. It is rare for a hurricane season to pass without any impact in the state by at least a tropical storm. August to October is the most likely period for a hurricane in Florida.
In 2004, Florida was hit by a record four hurricanes. Hurricanes Charley (August 13), Frances (September 4–5), Ivan (September 16), and Jeanne (September 25–26) cumulatively cost the state's economy US$42 billion. In 2005, Hurricane Dennis (July 10) became the fifth storm to strike Florida within eleven months. Later, Hurricane Katrina (August 25) passed through South Florida and Hurricane Rita (September 20) swept through the Florida Keys. Hurricane Wilma (October 24) made landfall near Cape Romano, just south of Marco Island, finishing another very active hurricane season.
Florida was the site of the second costliest weather disaster in U.S. history, Hurricane Andrew, which caused more than US$25 billion in damage when it struck on August 24, 1992. In a long list of other infamous hurricane strikes are the 1926 Miami hurricane, the 1928 Okeechobee hurricane, the Labor Day Hurricane of 1935, Hurricane Donna in 1960, and Hurricane Opal in 1995. Recent research suggests the storms are part of a natural cycle and not a result of global warming.
Demographics
Population
Florida has the 4th highest state population in the United States. The center of population of Florida is located in Polk County, in the town of Lake Wales.[47] As of 2008, Florida's population was estimated to be 18,328,340. The state grew 128,814, or 0.7% from 2007. Using the latest population estimates, Florida is the nation's thirtieth-fastest-growing state. During Florida's peak growth year of 2005, it was the nation's fifth fastest growing state and grew at an annual rate of 2.2%.
Economy
The Gross Domestic Product (GDP) of Florida in 2007 was $734.5 billion. Its GDP is the fourth largest economy in the United States. Personal income was $36,665 per capita, ranking 20th in the nation.
Tourism makes up the largest sector of the state economy. Warm weather and hundreds of miles of beaches attract about 60 million visitors to the state every year. Amusement parks, especially in the Orlando area, make up a significant portion of tourism. The Walt Disney World Resort is the largest vacation resort in the world, consisting of four theme parks and more than 20 hotels in Lake Buena Vista, Florida; it, and Universal Orlando Resort, Busch Gardens, SeaWorld, and other major parks drive state tourism. Many beach towns are also popular tourist destinations, particularly in the winter months.
The second largest industry is agriculture. Citrus fruit, especially oranges, are a major part of the economy, and Florida produces the majority of citrus fruit grown in the U.S. – in 2006 67 percent of all citrus, 74 percent of oranges, 58 percent of tangerines, and 54 percent of grapefruit. About 95 percent of commercial orange production in the state is destined for processing (mostly as orange juice, the official state beverage). Citrus canker continues to be an issue of concern. Other products include sugarcane, strawberries, tomatoes and celery. The Everglades Agricultural Area is a major center for agriculture. The environmental impact of agriculture—especially water pollution— is a major issue in Florida today.
Phosphate mining, concentrated in the Bone Valley, is the state's third-largest industry. The state produces about 75 percent of the phosphate required by farmers in the United States and 25 percent of the world supply, with about 95 percent used for agriculture (90 percent for fertilizer and 5 percent for livestock feed supplements) and 5 percent used for other products.[65]
Since the arrival of the NASA Merritt Island launch sites on Cape Canaveral (most notably Kennedy Space Center) in 1962, Florida has developed a sizable aerospace industry.
In addition, the state has seen a recent boom in medical and bio-tech industries throughout its major metropolitan areas. Orlando was recently chosen as the official site for the new headquarters of the Burnham Institute, a major bio-tech and medical research company.
The state was one of the few states to not have a state minimum wage law until 2004, when voters passed a constitutional amendment establishing a state minimum wage and (unique among minimum wage laws) mandating that it be adjusted for inflation every six months. Currently, the minimum wage in the state of Florida is $6.79 as of January 1, 2008.
Historically, Florida's economy was based upon cattle farming and agriculture (especially sugarcane, citrus, tomatoes, and strawberries). In the early 1900, land speculators discovered Florida, and businessmen such as Henry Plant and Henry Flagler developed railroad systems, which led people to move in, drawn by the weather and local economies. From then on, tourism boomed, fueling a cycle of development that overwhelmed a great deal of farmland.
In 2004 and 2005, key industries along the west coast—commercial fishing and water-based tourist activities (sports fishing and diving)—were threatened by outbreaks of red tide, a discoloration of seawater caused by an efflorescence of toxin-producing dinoflagellates.
Florida is one of the nine states that do not impose a personal income tax (list of others). The state had imposed a tax on "intangible personal property" (stocks, bonds, mutual funds, money market funds, etc.), but this tax was abolished after 2006. The state sales tax rate is 6%. Local governments may levy an additional local option sales tax of up to 1.5%. A locale's use tax rate is the same as its sales tax rate, including local options, if any. Use taxes are payable for purchases made out of state and brought into Florida within six months of the purchase date. Documentary stamps are required on deed transfers and mortgages. Other taxes include corporate income, communication services, unemployment, solid waste, insurance premium, pollutants, and various fuel taxes.
At the end of the third quarter in 2008, Florida had the highest for mortgage payment delinquency rate in the country, with 7.8% of mortgages delinquent at least 60 days. The state also had the second-highest credit card delinquency rate, with 1.45% of cardholders in the state more than 90 days delinquent on one or more credit cards.
