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Economy

Polk County's economy has been historically based on three primary industries: citrus, cattle, and phosphate mining. The discovery of phosphate rock in the Peace River, near Fort Meade, Florida in 1881, initiated the mining of the world's largest deposit of phosphate rock, known as the Bone Valley Deposit. This deposit, which encompasses approximately 500,000 acres (2000 km²) in Polk, Hillsborough, Hardee, and Manatee Counties, provides approximately 75% of the nation's phosphate supply and about 25% of the world supply. Approximately 200,000 acres (800 km²) or 15.3% of Polk County have been mined for phosphate rock. Polk continued to lead the state in 1998, with 14.7 million tons of phosphate rock mined. However, four straight years of low prices and weak demand for phosphate fertilizer led to a loss in sales in 2002. The industry's impact on the Polk County economy will continue to decline in the 21st Century as phosphate mining moves south into Hardee and Desoto Counties.

Chemical manufacturing plants located in Polk County are used to convert the insoluble phosphate rock into soluble products, such as diammonium phosphate and monoammonium phosphate, which are used in fertilizers and other products. There are numerous, other industries located in Polk County which support and rely on the phosphate mining industry. In October 2004, IMC Global, Inc. and Cargill Crop Nutrition merged into the Mosaic Co. This merger created the world's second largest fertilizer manufacturer with annual sales estimated at $4.5 billion. Mosaic employs more than 3,000 workers in Polk County at five active mines, Four Corners, Fort Green, Kingsford, South Fort Meade and Hookers Prairie; and two fertilizer plants, Ridgewood and New Wales (reputed to be the largest fertilizer plant in the world).

Polk County has the 2nd largest amount of farmland in the state with an estimated 626,634 acres (2536 km) in 2002. Polk remains the sixth most productive agricultural county in Florida . The $878 million citrus industry employs approximately 8,000 people in Polk County . Polk ranked first in the state for total citrus picked for the 2003-04 season with an estimated total of 42.2 million boxes harvested. Polk also ranked first in the state in the amount of commercial citrus groves with approximately 95,050 acres (385 km²), 2004 estimate. In addition to citrus, Polk was ranked third in the state in 2004, in number of beef cattle with an estimated 105,000 head of beef and dairy cattle, according to the Florida Agricultural Statistics Service. Total receipts from the sale of crops and livestock in Polk County rose to $284.8 million in 2002 based upon a report released by the Bureau of Economic Analysis at the U.S. Department of Commerce.

Tourism is a strong economic force in Polk County and dates back to the dedication of Bok Tower Gardens in 1929 by President Calvin Coolidge. In the mid-1930s, the late Dick Pope, Sr. established the world famous Cypress Gardens in Winter Haven , Florida's first theme attraction. (Polk County is also home of a roadside attraction: Spook Hill.) Today, millions of people visit Polk County each year to enjoy these two attractions as well as Fantasy of Flight, the Sun ‘N Fun Fly-In, and many more. Polk County is also located within a one hour drive of the Walt Disney World resort area, Universal Studios, SeaWorld, and Busch Gardens. In addition to these attractions, Polk is the spring training headquarters for the Detroit Tigers (Lakeland). The county had an estimated total of 11,500 hotel, motel, rental condominium units and vacation rentals in 2004.

In recent years, Polk County has gained notoriety as a preferred venue for recreational and competitive sports on all levels. In 2001, the county hosted 140 sporting events that pumped in excess of $84 million into the local economy. This is in addition to $72 million generated by the Spring Training operation of the Detroit Tigers. Polk County Sports Marketing, the sports marketing arm of the Board of County Commissioners, was honored as Florida's “Sports Commission of the Year” by the Florida Sports Foundation for its success in promoting the county as a sports destination.

Today, phosphate mining, agriculture and tourism still play vital roles in the local economy. However, the county has successfully expanded and diversified its economic base in recent years. The primary mission of the Central Florida Development Council (CFDC) since its formation in 1985 by the Board of County Commissioners, has been to improve the standard of living for the citizens of Polk County by diversifying the economy through job creation in all industries. The CFDC has successfully worked with other industries to help them expand and relocate to Polk County . Polk County's central location within the large Florida marketplace has attracted numerous manufacturers and distribution centers in recent years.

Construction is a pillar of economic strength for Polk County with a record of 5,900 total permits issued for single family homes in 2004. This is an increase of approximately 68.7% over a total of 3,498 building permits issued in 2003 for single family homes. The total number of homes sold in 2004, was 5,300, an increase of 7.8% over a total of 4,918 homes sold in 2001.

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Polk's Jobless Rate Hits 11-Year-High
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Local

Polk's Jobless Rate Hits 11-Year-High
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Polk's Jobless Rate Hits 11-Year-High
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