American British Business 2006/7

ABB 2006/7 | State Profiles | South East region | Florida | Metro Orlando

Print article

Florida

From theme parks to
corporate parks

With cutting-edge companies and a fast-growing economy, there is so much more to Orlando than usually meets the eye

There’s a side to Orlando you may not know. Could you be missing out on a great business opportunity?

You’ve been here on holiday, you’ve enjoyed the beach and theme parks, but what lies around the corner may take you by surprise. Built on innovation and imagination, Orlando pumps out a Gross Metropolitan Product of $65bn every single year. From cutting-edge companies doing laser research with the University of Central Florida’s Center for Research and Education in Optics & Lasers (CREOL) to the more than $9bn in contracts granted through the Orlandobased, US military simulation commands, the region has a business depth that rivals other US states and even entire countries. Here’s why Orlando offers you a great opportunity to expand your business internationally.

One of the fastest growing economies in the US

Orlando’s economic engine is humming. In fact, a recent study predicted that job growth in Orlando during the next five years will occur at the third-fastest rate in the country. Other studies indicate that Orlando has the strongest economy in the state of Florida and is among the strongest of 361 regions in the country. With a Gross Metropolitan Product that is 30th largest in the US, Orlando will continue to be a major player in terms of business opportunity over the coming decade.

One of the ten most conected US regions – physicaly and virtually

With the fourth largest destination airport in the US; access to two deep-water sea ports; and extensive road and rail systems connecting the region to the southeast United States, Orlando is truly a global connection point. Orlando is also an international leader in digital connectivity, having been ranked as one of the nation’s top two “most wired” cities; 70% of the region’s residents use broadband connections.

Emerging US hub for Bio-Tech and Life Sciences

Metro Orlando’s emerging life sciences sector received a major boost this year with the approval of a Medical School at the University of Central Florida and the announcement that the prestigious Burnham Institute for Medical Research will establish its East Coast facility in Orlando. These developments bolster an already renowned regional healthcare system, comprising some of the top hospitals in the country, and long-established strengths in related fields, including agritechnology, photonics, and simulation. Clinical trials of newly-developed medications are also emerging as an important aspect of this sector.

The seventh largest university in the nation anchors an extensive higher education system

The Orlando-based University of Central Florida, with over 45,000 students, is now the seventh largest university in the United States. The university also boasts more than $83m in annual research dollars, many of which are matched with company dollars in joint research projects. With more than 8,000 students, UCF’s College of Business Administration has also been ranked as one of the largest business schools in the nation. And UCF is only one of more than 35 post-secondary institutions based in the area. The region is also home to Rollins College, the Florida A&M University School of Law, and Barry University School of Law; three of the state’s top community colleges; the first stateside campus of Puerto Rico-based Ana G. Mendez University; and branch campuses of Embry Riddle Aeronautical University, Florida State University and University of Florida.

An established technology cluster

The Orlando area boasts a $10+ bn technology industry that includes close to 3,500 companies employing more than 52,000 people. Top sectors include digital media; modelling, simulation and training; optics and photonics; aviation/aerospace; homeland security/defence; information technology; agritechnology; energy and alternative fuels; and life sciences – biotechnology.

These reasons lead to one conclusion …

You know Orlando as a place where dreams become real. Now discover that for businesses, as well as visitors, we are “putting imagination to work”. We can help make your business dreams a reality.

For more information, contact: Sharon Benoit
Metro Orlando Economic Development Commission
Tel: 00 1 (407) 422 7159 x236.
Website: www.OrlandoEDC.com

Top