Area Economic Overview

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Area Economic Overview
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Presented toIndustry Day
Economic Development Council serving Okaloosa
County

• August 16, 2012

Presented by
Larry Sassano President
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Economic Development Council
Overview

• EDC Function and Mission
• Area Profile
• High Performance Targeted Industries
• Industry Diversification, Retention Expansion
• Emerald Coast Technology and Research Center
• Autonomous Vehicle Center
• UAV and GV Potential
• Support and Marketing
• Defense Support Initiative
• TeCMEN
• Trade Shows
• Industry Diversification, Retention and Expansion
• Partnerships
• Website

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Economic Development Council

• The EDC
• A non-profit private-public partnership serving
  as Okaloosa Countys primary economic development
  organization committed to the continual growth
  and diversification of Okaloosa's economy and
  quality of life/place.
• Governed by a Board of Directors
• Operates by a set of bylaws and a code of ethics.
  
• 4 full-time employees The EDC is assisted in
  accomplishing its objectives through the use of
  standing committees and ad hoc task forces.

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Economic Development Council
EDO vs. Chamber of Commerce

• Economic Development Organization Focus

• Local Chamber of Commerce Focus

• Business Expansion
• Business Attraction
• New Business Start-ups
• Economic Development
• Manufacturing, Processing, Technology Sectors

• Service Sector/Networking, Community Development
• Retail, Residential Real Estate, Banking,
  Hospitality, Attorneys, Healthcare, etc.

• Examples of Chambers and EDC working together in
  Okaloosa County

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Economic Development Council
2011 Statistics Okaloosa County
Population 181,194 Average Household Size
2.43 Median Household Income 60,143 Median
Home Value 155,431 Per Capita Income
24,978 Median Age 38.3 Population by
Sex Males 49.7 Females 50.3 Population
by Race 81 White alone 9.3 Black
alone 0.6 American Indian Alone 3.1 Asian or
Pacific Islander Alone 2 Some other race
alone 3.9 Two or more races
Employed Population by Industry 9.6 Agriculture/M
ining/Construction 3.2 Manufacturing 1.2 Wholesa
le Trade 13.3 Retail Trade 3.5 Transportation/Ut
ilities 1.5 Information 7.6 Finance/Insurance/Re
al Estate 48.9 Service Industry 11.1 Public
Administration Educational Attainment 7.9 No
Diploma 28.0 High School Graduate 24.0 Some
College, No Degree 11.5 Associates
Degree 18.1 Bachelors Degree 10.5 Graduate/Prof
essional Degree
Source ESRI Market Profile provided by the UWF
Haas Center
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Economic Development Council

• Okaloosas High Performance Targeted Industries
• Aerospace/Aviation/Defense
• Information Technology
• Life Sciences
• Regional Corporate Headquarters
• Manufacturing/Engineering
• Renewable Energy
• Unmanned Air and Ground Vehicles

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Economic Development Council

• Emerald Coast Technology and Research Center
• An advanced technology center with office,
  technology and research space supported by a
  diverse education cluster. This collaborative
  campus will enhance the ability of Eglin AFB to
  carry out its vital national defense mission by
  creating powerful synergistic relationships
  between public research facilities, private
  sector manufacturing and research based
  businesses.

• Enhanced Use Lease
• Florida LambdaRail Capability
• Benefits
• Visionary Design

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Economic Development Council

• Autonomous Vehicle Center
• Would serve as a comprehensive center for testing
  and researching unmanned air and ground vehicle
  systems. The AVC and laboratory will be specific
  to work related to advanced small and micro-sized
  unmanned vehicle systems when they will be tested
  in a safe, controlled, indoor laboratory space.

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Economic Development Council

• World UAV Market 2002-2020

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Economic Development Council

• UAV and GV Potential

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Economic Development Council
Defense Support Initiative (DSI)
Mission Statement  To support and maintain the
local military installations and their positive
economic contributions to the tri-county area
while maintaining and nurturing the relationships
with the civilian communities that house
them. The EDC DSI is recognized by the State of
Florida as the official representative and the
lead agency for the Eglin complex's
base/community initiatives. 

• Chartered by EDC
• Leverages Local Community Leadership and
  Expertise
• Composition
• Tri-County Representation
• Six Military Affairs Committees
• Retired Military Leaders
• Defense Industry Leaders
• Eglin AFB Ex Officio

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Economic Development Council

• Technology Coast Manufacturing Engineering
  Network (TeCMEN)

Mission Statement      EDC member companies
formulate TeCMEN to promote growth and
advancement within Okaloosas technology-based
business community through the association,
collaboration, and contract teaming of its
manufacturing, engineering, technology and
defense industry clusters.
Objective To allow EDC-member technology,
manufacturing, engineering and defense related
companies to gain access to larger projects by
partnering and teaming.  Using a collaborative
concept, these companies join together to compete
for and complete both defense-contracting and
other substantial business opportunities that are
too expansive for a single business to undertake.
 
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Economic Development Council

• Trade Shows/Events
• NBAA Show
• MRO Show
• Farnborough Air Show
• Paris Air Show
• Association for Unmanned Vehicles Systems
  International
• Consultant Missions

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Economic Development Council

• Industry Diversification, Retention Expansion
• E-Synchronist Program
• Building and Site Database
• Demographic Information
• Roundtable Breakfast Symposiums
• Vision of Growth Broadcast
• Voice of Progress E-Newsletter
• Website www.florida-edc.org

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Economic Development Council

• Business Incentive Programs
• Ad Valorem Tax Abatement
• Enterprise Zone Tax Credits
• Brownfield Redevelopment Fund
• Permit Streamlining
• Qualified Target Industry Tax Refund (QTI)
• Quick Response Training (QRT)
• Economic Development Transportation Fund (EDTF)
• Qualified Space and Defense Contractor (QDSC)
• Research and Development Tax Exemptions
• SBA Loans
• Tax-Exempt Financing
• Workforce Development

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Economic Development Council

• Oil Spill Recovery Act SB 2156
• Northwest Florida Regional Economic Development
  Initiative Industry Recruitment, Retention
  Expansion Fund Grant Program
• Designed to aid the 8 Disproportionally Affected
  Counties of Northwest Florida in their Economic
  Recovery from the Deepwater Horizon Oil Spill of
  2010.

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Economic Development Council

• Partnerships
• Air Force Research Laboratory
• Doolittle Institute
• Office of Economic Development and Engagement
• Floridas Great Northwest
• Workforce Development Board for Okaloosa-Walton
  Counties
• Tourist Development Council
• Building Industry Association
• Eglin Installation Growth Committee
• Northwest Florida Defense Coalition
• Enterprise Florida, Inc.
• Florida Defense Alliance
• Department of Economic Opportunity
• Business Leaders
• Chambers of Commerce
• Okaloosa County
• Cities and Towns
• Civic Groups

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Thank you for your time!

• Any Questions?
• Larry Sassano, President
• Economic Development Council
• of Okaloosa County
• P.O. Box 4097
• Fort Walton Beach, FL 32549
• 800.995.7374
• larrys_at_florida-edc.org