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WHY ORLANDO
One of the Fastest Growing
Economies in the U.S.
FEATURE: Florida's economic engine
continues to hum. In fact, a Torto Wheaton Research study predicted that
job growth in Orlando during the next five years will occur at the
third-fastest rate in the country. The study also indicates that Orlando
has the strongest economy in the state and is the 21st strongest out of
361 metro areas in the country. If Florida were a country, it would have
the 15th largest economy in the world and the eighth largest in the
Western Hemisphere. Breaking News ... BusinessWeek calls Orlando "fiercely
competitive" and a "global hot spot" for business.
BENEFIT: Business leaders in Metro
Orlando can rest assured that they are located in a region that has a
solid economic base and room to grow. This also provides a sense of
security in that family members will find plenty of job opportunities in
their respective fields. The strong economy in Metro Orlando has also
allowed local companies to look at ways of expanding their operations by
adding new product lines or services.
FEATURE: The Metro Orlando area
boasts a $13.4 billion technology industry that employs close to 53,000
people. Top sectors include digital media; modeling, simulation and
training; optics and photonics; aviation/aerospace; homeland
security/defense; information technology; agritechnology; energy and
alternative fuels; and life sciences/biotechnology. Companies also have
access to a strong university system and an environment of technological
innovation and infrastructure supporting the region’s established
technology sectors. Breaking News ... EWeek names Orlando as one of 10
"Blooming U.S. Cites for Tech."
BENEFIT: An established technology
sector means that companies growing or relocating to the area have
immediate access to a technology ecosystem that has been building since
the 1960s. This includes immediate access to a highly skilled workforce,
university research and development, partnership opportunities, and
organizations and facilities dedicated to helping high tech companies
flourish.
Access. Access. Access.
FEATURE: Metro Orlando, with almost
50 million visitors a year, is built for easy access. The fourth largest
destination airport in the U.S.; proximity to two deep water ports; and
extensive road and rail systems connecting the region to the Southeast
United States, truly make Orlando a global connection point. There is no
easier point to get to Europe, South America and throughout North America,
not to mention access to the Florida market, which is the fastest-growing
job market in the nation.
BENEFIT: From exporting products to
meeting with clients, Metro Orlando offers businesses the access they need
to stay competitive.
"Most Connected" U.S. Metro
FEATURE: Metro Orlando is an
international leader in digital connectivity. The region has been ranked
as one of the “most wired” communities, with 65 percent of our citizens
using broadband connections. Breaking News ... Wired magazine names
Orlando as one of the nation’s “Top Ten Tech Towns", citing the area as a
great place to “get your geek on.”
BENEFIT: Today’s marketplace is no
longer defined by geographic boundaries. Without virtual and real world
connection to other parts of the world, businesses cannot capitalize on
new opportunities. In Metro Orlando your company will never lack ways or
means to move product, information or people.
Young Workforce – One Out of Two
People Have Completed Some College
FEATURE: Several studies have found
that Metro Orlando’s population will feature the same ethnic diversity in
2015 that won’t be reached by the rest of the country until 2055. With 25
percent of the region’s population having completed a bachelor’s degree or
higher, and another 30 percent having completed at least some college —
it’s easy to see that Metro Orlando’s employee base is well-educated. It
is also important to note that the region’s median age is 36, with 64
percent of the population under the age of 44.
BENEFIT: The diversity of a region’s
workforce impacts its ability to nurture innovative thinking and offer
residents a high quality of life. Metro Orlando businesses have no problem
filling job slots — no matter what level of skill is needed — thanks to
the region’s strong employee base. The relative young median age also
ensures that the region’s workforce is here to stay for decades to come.
Companies have access to state-sponsored workforce training grant programs
that will allow them to keep employees on the cutting-edge of their
respective fields.
Nation’s 6th Largest University
Anchoring an Extensive Higher Ed System
FEATURE: The Orlando-based University
of Central Florida, with over 47,000 students, is now the sixth largest
University in the United States. The University is also home to one of the
top Tech Incubators in the nation and boasts more than $103 million in
annual research dollars, many of which are matched with company dollars in
joint research projects. UCF’s College of Business Administration has been
ranked as one of the largest business schools in the nation. However, UCF
is only one of more than 35 post-secondary institutions based in the area.
This includes three of the state’s top community colleges, as well as
Rollins College, Embry Riddle Aeronautical University, the Florida A&M
University School of Law, Barry University School of Law, and the first
stateside campus of Puerto Rican-based Ana G. Mendez University.
BENEFIT: Metro Orlando’s strong
higher education system provides companies with a steady flow of
highly-trained employees and access to a variety of research and
development opportunities. The many post-secondary institutions also
provide educational programs in a wide variety of fields. Companies that
need employees with specialized skill-sets can also be confident in the
community’s long history of partnership between educational institutions
and business.
One of the Nation’s 10 Best Office
Markets – Offering Affordable Options for Business
FEATURE: With more than 50 million
square feet of space, the region's office market ranks among the nation's
ten best, according to Viewpoint - Real Estate Travel Trends, published by
Integra Realty Resources, Inc. Total industrial space in the region
exceeds 82.7 million square feet and is growing, as reported by Real
Estate Research Consultants, Inc. The region also represents a variety of
commercial and industrial real estate options — including everything from
urban space in downtown Orlando to rural land in Lake and Osceola Counties
and everything in between.
BENEFIT: The sheer quantity and
diversity of commercial and industrial property in Metro Orlando means
that companies growing in or relocating to the region are virtually
assured the space or land suitable to their specific needs. The amount of
space and current associated costs are very competitive with other regions
around the country — making Metro Orlando an affordable place for
businesses to locate.
Variety of Lifestyle Options – Low
Cost of Living and World-Class Entertainment Options
FEATURE: From rolling hills and
orange groves to a downtown core that boasts $1.8 billion in current
development — Metro Orlando truly offers a variety of lifestyle options
that meet just about everyone’s needs. Long called “The City Beautiful” —
Metro Orlando’s namesake city is known for its brick-lined streets, green
space and eclectic housing options. Further west and south are Lake and
Osceola counties respectively, which still offer a bit of “elbow room.”
Heading north — Seminole County is a thriving suburban area offering
beautiful communities like Heathrow and Colonial Town Park. All of this
comes with Orlando’s well-known sunshine, closeby beaches, no state income
tax, affordable cost of living, growing list of cultural options, and
world-class entertainment industry.
BENEFIT: Business leaders and
employees living in Metro Orlando not only bring home more of their
paycheck thanks to the affordable cost of living and no state income tax,
but also have access to almost every conceivable lifestyle option. With
50,000 new residents moving to the region each and every year, the secret
is out that this region is not only a great place to do business but also
a great place to live.
Named One of the Nation’s Best
Locations for Entrepreneurs
FEATURE: From Walt Disney to Glen L.
Martin, Metro Orlando has a long history of entrepreneurial activity. Case
in point, the region had more than 56,000 company start-ups in 2004 alone.
That number has been consistently growing, thanks to an improved economy,
and the presence of facilities such as the Disney/SBA National
Entrepreneur Center (NEC) and the National Business Incubator
Association’s #1 ranked University of Central Florida Technology
Incubator. These factors and more have led Entrepreneur magazine to rank
the region as one of the top 10 cities for start-up businesses.
BENEFIT: Doing business in an
environment where you can “fail on Friday and start on Monday” is critical
to business success in today’s fast-changing environment. The large number
of start-ups in Metro Orlando is also a testament to a creative and
innovative workforce available to businesses located in the region.
Finally, with facilities like the NEC and Incubator, businesses can be
assured that the region is focused on their success no matter what their
size.
The “Livability” Factor
FEATURE: Year-round, outdoor
recreation. Proximity to beaches, lakes, springs, parks, trails, and
fields. World-class entertainment options. Distinctive neighborhoods.
World-class shopping. (Closets free of winter coats, scarves and gloves!)
The region’s amenities, natural and “man-made”, make Metro Orlando a great
place to work and to live.
BENEFIT: Companies of all types and
sizes find that Central Florida’s unparalleled “livability” enhances
employee recruitment and retention.
Source: Metro Orlando Economic
Development Commission
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