One Vision forFlorida’s Future

Complete report available @ www.NewCornerstoneOnline.com

Briefing re: Florida’s Innovation CaucusAugust 2008 - www.NewCornerstoneOnline.com

Florida’s Innovation Summit

“Innovation is the creation of value through the adoption &

exploitation of new ideas throughout the economy”

“Innovation is the creation of value through the adoption &

exploitation of new ideas throughout the economy”

Florida’s Transition to an Innovation Economy

Cluster Builders

Research & Development

Startups & New Firms

Risk Capital

Commercialization Assets

Ind.-Academic Partnerships

Entrepreneurial Programs

Business Climate & Incentives

Talent Builders

Higher Education

Workforce Education

Pre-K-12 Education

Technical Education

CLUSTERS OF HIGHWAGE, HIGH VALUE

BUSINESSES IN FLORIDA

TODAY

F LORIDA’S P OOL OF T ECHNICALLY SKILLED,

H IGHLY E DUCATED AND T ALENTED P EOPLE

LifeScience

TourismTrade

Info.Tech:Photonics

Digital Media,MST

Aviation,Aerospace

& Space

Financial& ProfSvcs

HomelandSecurity

& DefenseOther

C LUSTERS OF HIGH

WAGE, HIGH VALUE

B USINESSES IN F LORIDA

TODAY’S

C LUSTERS

IN 2030

NEW

C LUSTERS

IN 2030

IN 2030

FLORIDA’S POOL OF TECHNICALLY SKILLED,HIGHLY EDUCATED AND TALENTED PEOPLE

NewCluster

NewCluster

NewCluster

CleanTech

NewCluster

NewCluster

NewCluster

NewCluster

LifeScience

Other

Aviation,Aerospace& Space

TradeTourism

Info.Tech:Photonics

Digital Media,MST

Financial &Professional

ServicesHomelandSecurity &Defense

Indicator Where Are We Today? Where Do We Need To Be By 2030?

Wages

High Wage Employment

Productivity

Universities

Community Colleges

Workforce

K-12

R&Damong the

bottom 15 states among the top 10 states

Commercialization Assets middle of the pack among the top 10 states

Startups & New Firm

Formationamong top 10 states among the top 5 states

Risk Capital middle of the pack among the top 10 states

High Quality

Economy

Talent Builders

Innovation Cluster

Builders

among the top 10 statesgenerally among

bottom half of states

generally among the

bottom 20 statesamong the top 15 states

Where Are We Today in Achieving Quality Growth?

Level Rank Level Rank Level Rank

Florida $ 38,485 23 24.2% 40 89,726$ 25

California $ 48,345 5 29.6% 8 111,420$ 6

Massachusetts $ 52,435 3 34.0% 1 105,659$ 10

New York $ 55,479 1 30.6% 4 121,234$ 4

North Carolina $ 37,439 27 26.0% 27 94,446$ 17

Texas $ 42,458 12 27.3% 18 107,424$ 8

Virginia $ 44,051 9 30.3% 5 101,545$ 14

U.S. 42,536$ - 27.5% - 98,744$ -

WAGES HIGH WAGE EMPLOYMENT PRODUCTIVITY

Average Annual Wage

Employment in High Wage

Occupations as a % of Total

Employment

GDP Per Employee

Where Are We Today in Achieving Quality Growth?

Where Are We Today in Achieving Quality Growth?

Level Rank Level Rank Level Rank Level Rank Level Rank Level Rank Level Rank Level Rank

Florida 1,082 42 372 37 45 22 18.1 34 982 3 2.83% 34 64.6% 44 75.2 7

California 1,038 44 385 36 46 21 23.1 23 637 22 4.29% 10 74.6% 33 64.8 38

Massachusetts 1,915 6 1135 1 122 1 76.0 1 454 43 6.14% 2 78.7% 22 85.2 1

New York 1,518 18 865 3 61 11 28.6 13 781 10 3.38% 23 65.3% 43 71.9 18

North Carolina 1,181 37 365 38 42 24 25.8 20 574 29 3.27% 29 72.6% 39 66.7 32

Texas 985 46 349 42 34 36 17.7 35 469 42 3.74% 14 74.0% 35 72.6 13

Virginia 1,304 29 451 24 53 15 26.1 18 538 33 6.49% 1 79.6% 18 76.2 6

U.S. 1,308 - 523 - 49 - 25.6 - 628 - 3.72% - 74.7% - 69.4 -

PRE-K-12 EDUCATION

Bachelor's

Degree

Production Rate

(degrees per

100,000 18-44)

Master's

Degree

Production

Rate

Doctorate

Degree

Production

Rate

STEM

Doctorates

per 100,000

18-44

Associate's

Degree

Production

Rate

Individuals in

S&E Occupations

as Share of

Workforce

Public HS

Averaged

Freshman

Graduation

Rate

Quality

Counts K-12

Achievement

Index Score

HIGHER EDUCATIONTECHNICAL

EDUCATION

WORKFORCE

EDUCATION

Level Rank Level Rank Level Rank Level Rank Level Rank Level Rank Level Rank

Florida 0.9% 42 32 31 461 14 73 9 0.36% 3 $0.44 21 $171 19

California 4.0% 8 148 2 2317 1 231 1 0.13% 26 $7.28 2 $166 21

Massachusetts 5.6% 3 124 4 1337 2 176 2 0.09% 33 $8.51 1 $390 3

New York 1.5% 31 65 14 1029 5 119 4 0.14% 25 $1.26 14 $158 24

North Carolina 2.1% 23 49 23 907 6 99 6 0.24% 10 $1.36 10 $542 1

Texas 1.6% 29 62 16 1080 4 107 5 0.08% 38 $1.30 13 $170 20

Virginia 2.4% 16 30 34 527 13 64 12 0.45% 2 $1.06 17 $109 38

U.S. 2.6% - 66 - - - - - 0.16% - $1.98 - $185 -

VC Disbursed

per $1,000 of

State GDP

Industry Financed

Academic R&D per

$1 million of state

GDP

R&DRISK

CAPITAL

INDUSTRY-

ACADEMIC

PARTNERSHIP

COMMERCIALIZATION ASSETSSTART-UPS & NEW FIRM

FORMATION

R&D as % of

State GDP

Patents per

100,000 Non-

Farm Employees

University Licenses

and Options

Executed 2001-

2005

University Start-

ups 2001-2005

Net High Tech

Bus. Formations

as a % of All Bus.

Estab.

Where Are We Today in Achieving Quality Growth?

Landscape requires coordinated, focused action

Focused but Effective Action

Risk Horizon

Imp

act o

n P

erfo

rman

ce

ProjectF

Project C

Project A

Project E

Project D

Project B

What is Florida Doing? Strategic Plan - EFI Florida Research Consortium Florida Venture Forum R&D Tax Exemption Innovation Initiative Fund* Centers of Excellence* Closing Fund Opportunity Fund The 21st Century Technology, Research and Scholarship Act Institute for the Commercialization of Public Research State Board of Administration 1.5% investment authorization Local and Regional Initiatives

* not funded in 2008

Florida High Tech Corridor Council www.FloridaHighTech.comFlorida High Tech Corridor Council www.FloridaHighTech.com

Prosperity

Global Leadership

Vibrant Communities

Qu

alit

y o

f L

ife

Infr

astr

uct

ure

Bu

sin

ess

Cli

mat

e

Tal

ent

Go

vern

ance

Inn

ova

tio

nEnterprise FloridaFlorida Council of 100Tax Watch & Council of Economic

AdvisorsCentury Commission for Sustainable

FloridaJames Madison InstituteInnovation CaucusWorkforce FloridaOTTEDAgency for Workforce InnovationDepartment of EducationState University SystemFlorida ChamberFlorida Chamber Foundation

Measuring Florida’s Performance

Dashboard to Track State and Regional Metrics

************Save the Date

October 6&7

www.FloridaChamber.comwww.FloridaChamber.com

www.FloridaChamber.com850.521.1200

www.NewCornerstoneOnline.com

State of the State SummitOctober 6-7, 2008

Renaissance at SeaWorld