Economic Indicators, Economic Development Tools, And Recent Successes
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1 The Space Congress Proceedings 2015 (43rd) A Showcase of Space, Aviation, Technology, Logistics, and Manufacturing Apr 28th, 8:00 AM Economic Indicators, Economic Development Tools, And Recent Successes Lynda Weatherman President & CEO EDC of Florida s Space Coast Follow this and additional works at: Scholarly Commons Citation Weatherman, Lynda, "Economic Indicators, Economic Development Tools, And Recent Successes" (2015). The Space Congress Proceedings This Event is brought to you for free and open access by the Conferences at Scholarly Commons. It has been accepted for inclusion in The Space Congress Proceedings by an authorized administrator of Scholarly Commons. For more information, please contact commons@erau.edu.
2 ECONOMIC INDICATORS, ECONOMIC DEVELOPMENT TOOLS, AND RECENT SUCCESSES Presented by: Lynda Weatherman President & CEO EDC of Florida s Space Coast April 29, 2015
3 Presentation Overview Economic Indicators FLORIDA S SPACE COAST: ECONOMIC INDICATORS Intro to the EDC Recent Successes and Impact Initiatives
4 ECONOMIC INDICATORS
5 Unemployment Rate U.S., Florida, Brevard % 12% 10% 8% 6% 4% US Unemployment Rate 2% FL Unemployment Rate Brevard Unemployment Rate 0% Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Source: Florida Department of Economic Opportunities
6 Brevard County Taxable Sales $750 $700 $650 $600 $550 $ $450 $400 Taxable Sales (left axis) Index of Retail Activity (right axis) Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 In Million Source: Florida Legislature Office of Economic & Demographic Research
7 Brevard Single Family Home Sales Volume and Median Sales Price $250, $200, $150, Realtor Sales (left axis) Median Sales Price (right axis) $100,000 0 $50,000 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Source: Florida Association of Realtors
8 U.S. Real GDP Growth Rate year over year % change (Based on chained 2009 dollars) 6% 4% 2% 0% -2% % -6% -8% -10% Source: US Department of Commerce Bureau of Economic Analysis
9 Consumer Confidence Index United States Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Consumer Confidence Source: The Conference Board
10 ECONOMIC DEVELOPMENT
11 EDC of Florida s Space Coast The economic development arm of Brevard Private, not-for-profit organization WHO IS THE EDC? Secure funding from Investors - community businesses, local government, and grants Councils Board of Directors and Executive Committee
12 What is Economic Development? Building the environment that enables businesses to create value added jobs through, Relocation ECONOMIC DEVELOPMENT Expansion Policy Development Diversification of the Tax Base Enhancing the Overall Quality of Life
13 Area Competitiveness Brevard among the best business environments in Florida: -Quadramodal transportation hub Kennedy Space Center Port Canaveral Melbourne International Airport Rail -Skilled Workforce & Low Wage Costs
14 Available Incentives/Resources State and local incentives: Beneficial Tax Treatment Ex: Ad Valorem Tax Abatement ECONOMIC DEVELOPMENT Infrastructure Development and Permitting Incentives Ex: S.N.A.P. Special Purpose districts Ex: North Brevard Economic Development Zone Workforce Development and Business Services EDC Initiatives
15 Relocations and Expansions In excess of 10,000 new and indirect jobs in the past three years
16 FY 13/14 Project Announcements 2,592 New jobs 1,333 Indirect jobs 1,617 Induced jobs 5,542 Total jobs 665 Retained Jobs $603M Capital Investment
17 Past three years of Project Announcements 6,003 New jobs 2,464 Indirect jobs 2,996 Induced jobs 11,463 Total jobs 6,843 Retained Jobs $1.04B Capital Investment
18 Impact Source: Policom Corporation
19 The EDC of Florida s Space Coast: Most Effective EDO New Jobs Announced per Capita as Recorded by the State (Jan 2010 Apr 2015) 1.6% 1.4% 1.2% 1.0% 0.8% 0.6% 0.4% 0.2% 0.0% County Jobs Announced Population CapEx Announced Hillsborough 12,797 1,257,913 $826 M Miami-Dade 7,748 2,549,075 $1,210 M Duval 8, ,598 $662 M Brevard 8, ,667 $1,176 M Orange 7,674 1,175,416 $694 M Brevard Hillsborough Duval Orange Miami-Dade New Jobs Retained Jobs Source: Enterprise Florida
20 Top Five Award of Excellence: Aerospace/Defense & Aviation Expansion Solutions Award Marquee business development projects Innovative programs for existing industry
21 EDC Programs Enhancing the County Economy Improving Business Environment Raising Awareness Manufacturing Helping Small Business Driving An Innovation Ecosystem EDC/NASA Technology Development Program
22 THANK YOU SpaceCoastEDC.org Presented by: Lynda Weatherman President & CEO EDC of Florida s Space Coast
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