orlando economy update - 2015 q2
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O R L A N D OT H E P L A C E TO G O .
T H E P L A C E T O B E .
2
NO PERSONAL INCOME TAXES
2014 POPULATION OF 19,507,369
LABOR FORCE OF 9.7 MILLION
RECORD 97.3 MILLION VISITORS IN 2014
Top 3 workforce in the U.S.
CNBC, 2014
5 million foreign language speakers U.S. Census
5th in high-tech employment in the U.S.
TechAmerica Cyberstates
3rd lowest private sector unionization rate in the U.S. UnionStats.com
HIGHLIGHTS3,524,545 new people since 2000 - 17.6% population increase
Tourism increased 3.9 percent over 2013
Florida’s $800 billion economy rivals the world’s largest countries
Florida’s 2014 GDP increased 13.6% since YE 2009
Florida Exports over $60 billion in goods made in the state
STATE OF FLORIDA
$153 BILLION IN INTERNATIONAL TRADE
TOP-RATED INFRASTRUCTURE
TOP RATED WORKFORCE
Source: Enterprise Florida
3
TOP BUSINESS LOCATION
#1STATE FOR
INNOVATION
- Fast Company
#2STATE FOR
BUSINESS
- Chief Executive Magazine
#3STATE FOR HIGH-
TECH BUSINESSES
- TechAmerica Cyberstates
FLORIDA HAS SURPASSED NEW YORK TO BECOME THE THIRD MOST POPULOUS STATE
IN THE U.S.
IF FLORIDA WERE A COUNTRY IT WOULD HAVE THE 19TH LARGEST ECONOMY IN THE
WORLD
Source: Enterprise Florida
4
21.1%
16.7%
12.1% 12.2%
10.6%
6.4%
5.1%
3.4%
4.0%
3.4% 2.9% 2.1%
Leisure & Hospitality
Professional & Business Services
Education & Health Services
Retail Trade
Total Government
Financial Activities
Construction
Other Services
Wholesale Trade
Manufacturing
Transportation, Warehousing, & Utilities
Information
ORLANDO’S ECONOMY ISBOOMING
Number One City for Job Growth
Forbes, 2014
Top 10 city in the U.S. to out pace the nation in job growth Kiplinger, 2012
Orlando earned the third spot in Job Creation Index Score
Gallup, 2012
Hot spot for job growth in companies with less than 100 employees
Inc. Magazine
Number 9 among Top 10 places in the U.S. for veterans to find jobs
USAA
Number Three City to Find an IT Job
Modis, 2012
2.3 MillionOrlando MSA Population
U.S. Census, 2015
8.8%
2010-2014 Population Growth
U.S. Census, 2015
36.7Median
AgeU.S. Census, 2015
#1 CITYFOR JOBGROWTH
Orlando named the 4th happiest place to work in the nation
Forbes
Top 10 best cities for working women
NerdWallet
#2MSA for
Population GrowthU.S. Census, 2015
RAPIDLY INCREASING POPULATION
ORLANDO METRO
RECORD-BREAKING JOB GROWTH
Source: Orlando EDC
5
21.1%
16.7%
12.1% 12.2%
10.6%
6.4%
5.1%
3.4%
4.0%
3.4% 2.9% 2.1%
Leisure & Hospitality
Professional & Business Services
Education & Health Services
Retail Trade
Total Government
Financial Activities
Construction
Other Services
Wholesale Trade
Manufacturing
Transportation, Warehousing, & Utilities
Information
Walt Disney CompanyUniversal OrlandoAdventist Health System/Florida HospitalDarden RestaurantsSeaWorld Parks & EntertainmentLockheed MartinSiemens EnergyMears TransportationSouthwest AirlinesStarwood Hotels & ResortsJetBlue AirwaysDeloitteL-3 CommunicationsElectronic ArtsVerizon CommunicationsAmerican Automobile Association (AAA) Golf ChannelTupperware Brands Corp.Mitsubishi Hitachi Power SystemsNorthrop GrummanRuth’s Chris Steak House
ORLANDO’S ECONOMY ISBOOMING
METRO ORLANDOUNEMPLOYMENT
5.3%3.7%
METRO ORLANDOJOB GROWTH
NEW JOBS SINCE FEBRUARY 2014
25,576
ORLANDOEMPLOYMENTBY INDUSTRY
HQ
HQ
HQ
HQ
HQ
HQ
HQ
MORE THAN 150 INTERNATIONAL
COMPANIES REPRESENTING 20 COUNTRIES
HAVE FACILITIES IN ORLANDO
TOP EMPLOYERS
Source: Orlando EDC
CENTRAL FLORIDA RESEARCH PARK
1,025 Acres / 58 Buildings 120+ companies / 8,500+ employees Hub of the nation’s military simulation/training programs
UNIVERSITY OF CENTRAL FLORIDA
60,000 Students / $1.9 Billion Economic ImpactNation’s No. 3 “Up-and-Coming” university - 2015 U.S. News & World ReportBest value for a college education - 2014 Kiplinger’s & The Princeton Review
LAKE NONA / MEDICAL CITY
Projected Economic impact of $7.6 billion creating 30,000 jobs Home to some of the nation’s top medical facilities including Sanford-BurnhamMedical Research Institute, VA Medical Center, and Nemours Children’s Hospital
UNITED STATES TENNIS ASSOCIATION (USTA)
62-acre new divisional headquarters of the USTAState-of-the-art facility featuring 100-plus court tennis center
DR. PHILLIPS CENTER FOR THE PERFORMING ARTS
Brand new $514 million performing arts centerState-of-the-art premier destination for world-class arts, culture and entertainment
CREATIVE VILLAGE
68-acre mixed-use, transit oriented, urban infill neighborhood in the heart of Downtown Orlando
ORANGE COUNTY CONVENTION CENTER
2.1 million square feet of exhibit space More than 1.2 million attendees - $2.0 billion in total economic impact
FLORIDA ADVANCED MANUFACTURING RESEARCH CENTER
The world’s first industry-led consortium for manufacturing smart sensorsThe $70 million, 100,000 square foot facility is expected to create 20,000 jobs
2ND LARGEST UNIVERSITY IN THE U.S.
7TH LARGEST RESEARCH PARK IN THE U.S.
650 ACRE PREMIER HEALTH & LIFE SCIENCES PARK
#2 MEETING DESTINATION IN THE U.S. - CVENT
M A J O R M E T R O DR IVERS
7
62 MILLION VISITORSNEW RECORD FOR U.S. TOURISM
5% VISITATION GROWTH
2013-2014
32MILLION
ROOM NIGHTS SOLD2014
79MILLION
2014 THEME PARK ATTENDANCE
ECONOMIC IMPACT OF
LEADER IN TOURISM
$50 BILLION
“TOP 15 PLACES IN THE WORLD
TO GO IN 2015”
Source: Orlando EDC
8
TOP 10 - #7CONNECTIVITY
LARGE AMERICAN CITIES OF THE FUTURE 2015/2016
- fDi Magazine
SUNRAIL
SunRail, Central Florida’s commuter rail system, connects 31 miles from Volusia County to Orange County. The $1.28 billion, 61.5 mile project will eventually run 61 miles extending into Osceola County.
I-4 ULTIMATE
I-4 Ultimate is a 6-year, 21-mile reconstruction project of Central Florida’s major interstate system. The $2.3 billion project is aimed to enhance mobility and maximize accessibility.
LYNX/LYMMO
LYNX is the public transit provider for Orange, Osceola and Seminole counties. Lymmo is a free route that serves Downtown Orlando with over 35 stops.
ORLANDO INTERNATIONAL AIRPORT (MCO)
The Orlando International Airport served more than 35 million passengers in 2014. It is the third largest airport in the nation for domestic origin and destination and the 11th fastest growing major airport in the world.
JUICE BIKE SHARE
Juice Bike Share enhances Central Florida’s transportation options with hundreds of bikes around town available 24/7. There are 20 hubs located throughout Downtown Orlando and its surrounding neighborhoods.
In Orlando, we know how to get around. The region’s
infrastructure offers reliability, affordability and efficiency, giving
businesses seamless access to the people and places they need to reach.
From commuter rail service and highway systems to a multi-modal hub —
Orlando knows how to connect you.
INFRASTRUCTURE DEVELOPMENT
Source: Orlando EDC
9
5th best city for an active lifestyleWalletHub, 2014
You will never run out of things to do in Orlando. From world-
renowned theme parks, attractions, golf courses and sports complexes
to fine dining, shopping and a thriving arts and culture scene, it is no
wonder that Orlando’s residents live the good life.
Amway Center named “Facility of the Year” Street & Smith’s SportsBusiness Journal and SportsBusiness Daily
More than 100 top-rated golf courses
New 25,000+ seat soccer stadium scheduled to open in 2016
Brand new Dr. Phillips Center for the Performing Arts
Newly renovated Florida Citrus Bowl
Extensive networks of trails and parks including Wekiva Springs
12 versatile shopping malls and outlet centers
Over 5,000 restaurants spanning every type of cuisine
not to mention...the world’s top theme and water parks
New York
Washington DC
San Diego
Chicago
Miami
Atlanta
Pittsburgh
Orlando
Phoenix
Tampa
San Antonio
223.7
143.3
141.9
114.6
112.6
101.6
100.8
98.3
93.6
92.6
87.5
0 50 100 150 200
COST OF LIVING COMPARISONCOMPOSITE INDEX - Q1 2015
Numbers less than 100 are below the national average
MAJOR SPORTS TEAMS
THE PLACE TO BE
RECREATIONAL HAVEN
Source: Orlando EDC
O R L A N D OT H E P L A C E TO G O .
T H E P L A C E T O B E .
CBRE INC. | LICENSED REAL ESTATE BROKER
200 S. ORANGE AVENUE | SUITE 2100 | ORLANDO, FLORIDA 32801
CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. © Copyright 2015 CBRE Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of
the CBRE Global Chief Economist.
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