You've precisely described the Florida economy, the place is essentially a sandbar, with few natural resources, the major industry is "development".

Florida does have great agricultural resources, but it's mostly big corporate farms operated primarily by immigrant labor. But people kept on coming, not just retirees, but people looking for work after the decline of Rustbelt industry. I can't claim to have discovered this, everyone knows it, but the "development" continues, and resources are lavished on trying to make it grow; it has become an end in itself.

In the meantime, the natural resources required to support this tail-eating snake, the wetlands required to recharge the streams and aquifers, are being paved over with still more development, while the demands on the water increase year after year.

Draw your own conclusions.