Florida's attractive quality and cost of living has brought the state $24 billion in the last year, Chief Financial Officer Jimmy Patronis tells Fox News Digital.
FOX Business' Ashley Webster reports from Clearwater, Florida, where he's talking to former blue state residents about why they moved south.
"We think it's about $24 billion in the last year of new recurring wealth that has come to the state of Florida, whether it be small businesses or just couples," Patronis said. "In comparison, California has lost $18 billion in recurring wealth. So that is a compounding effect that really drives down the cost of living for, especially, young families in our state.
"Our roads, our bridges, our infrastructure is in really good shape. But it's not a sprint, it's a march. Every single year you have to make those types of investments and commitments," Patronis said. "Right now, we're in the best fiscal health we've ever been in the history of the state with over $20 billion in reserves. We've never had this low of a debt-to-reserves ratio.
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