Seo for changing domains?

So i have a site that ranks well for many of my keywords that i am targeting. I have already built many different backlinks for it too and the site is in wordpress.

However i want to expand my target market to the state instead of the city so i need to change my domain name to have Florida in it rather than Orlando. I wanted to know if i uploaded my current site to the new domain name, the deleted the current sites content and put a 301 redirect on it so it automatically transferred to the new site with Florida in the domain. How would this effect my page rank? effects on my backlinks? effects on my keyword rankings?

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SEO Orlando|SEO Florida