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Economy

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Volusia County
2020 GDP

$16 Billion

Volusia County
2020 Exports

$271 Million

Employed
Workforce 2021 

243,303

2021 New Commercial
Building Permits

$335 Million

2021 New Residential
Building Permits

$1.33 Billion

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Gross Domestic Product

Volusia County's strong GDP of $16.5 billion is ranked 14th out of 67 counties in Florida.

The chart is showing the Volusia County Annual GDP from 2011 to 2020. From 2011 to 2013, the GDP remained relatively the same at $14.3B. From 2014 to 2019, the GDP growth was steady and capped at $16.867 billion and dropped 2% to $16,551 billion in 2020. 

Exports

The Deltona-Daytona-Ormond MSA is ranked 10th out of 22 MSAs in Florida for exports after previously ranking 11th. The top exports consist of Computer & Electronic Products, Transportation Equipment, Electrical Equipment and Machinery making up 60% of the products exported.

Deltona-Daytona-Ormond Beach MSA Exports chart. Click image for pdf of chart with details.

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Employment

Volusia County employment dropped 6% due to the COVID pandemic and has since recovered by 5.5%.

Chart showing Volusia County total employed workforce from 2011 to 2021. Click image for pdf of chart with details.

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Commercial Building Activity

For the 12 months ending September 2022, an average of $62.5 million per month in new ground up commercial building permits have been issued.

Chart showing the 11 most recent quarters of commercial new construction building permit activity ending Sept. 2022

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Residential Building Activity & Housing

For the 12 months ending September 2022, an average of 353 new residential building permits have been issued. That averages a value of $113 million in single family residential permits.

Chart showing the 10 most recent quarters of residential building permit activity ending Sept. 2022

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Residential Building Permit Trend

Residential building permit activity has increased steadily every year since 2012 with the average value of homes constructed in 2021 at $305,807 whereas values were $188,611 at the height of activity in 2005. 

The residential new construction building permit trend chart displays the number and total value of permits issued from 2003 to 2021. In 2003, there were 5,728 permits issued with a value of $857 million. That total peaked in 2005 to 6,857 permits with a value of $1.29 billion. From 2006 to 2011, the number of permits fell sharply to a low of 474 permits in 2011 with a value of $131 million. From 2012 to 2021, there has been a steady increase in permits with 2021 closing out with 4,367 permits issued with a value of $1.335 billion, indicating the average value of permits increased from approximately $188,611 in 2005 to approximately $305,807.

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Single Family Typical Home Value

The average single family home value rose sharply 18.3% from 2020 to 2021.

The chart is showing the steady increase of single family typical home values from 2011 where it was $117,360 and as of the end of 2021, the average home value was $264,868. From 2020 to 2021, the average single family home value increased 18.3%.

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