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Today, new
and growing companies demand a rapid ramp-up. The digital age
has completely transformed traditional business models and prompted
companies to expect immediate response and action. And, entrepreneurship
and business reinvention are at an all-time high. Perhaps no
other industry is keeping as close a watch on these trends
and transitions as the economic development industry – an
industry that’s not often spotlighted, but plays a vital
role in business and community growth.
Given
the ever-growing competitive nature of doing business, you can
imagine that the hundreds of state, regional and local economic
development groups in the country have become much more sophisticated,
aggressive and dynamic. And, in fact, economic development has
gained an even more prominent role as universities, utilities,
chambers of commerce and more have added this function within their
organizations.
Economic
development is about nurturing business vitality and diversification
and enhancing the overall standard of living. Attracting targeted
industries, assisting in the expansion of local businesses, and
working with start-up enterprises that create high wage, high value
jobs – these are the leading charges of economic development
groups. And, this work results in numerous benefits, including
the diversification of a community’s tax base, generation
of more income and buying power for residents, and attraction of
targeted, high paying career opportunities for the region’s
population.
The
People Factor
Years ago, people associated economic development solely with recruitment,
or attraction, of industry. Today, it’s much more about a mixture of
activity that includes business attraction, retention, growth and creation.
Even more
importantly, it’s about people. People are both the beneficiaries and
the foundation of all economic development. Skilled, productive workers attract
employers. Employers anchor dynamic communities. Dynamic communities are great
places to live. Without economic development at the center of community-building,
this cycle of economic growth and prosperity would not exist.
Metro
Orlando’s Edge
In Metro Orlando, a region that has been consistently recognized as a top location
to start and grow a business, we’re attracting people. Our student population
is exploding, bringing young creative minds to the area. People from every
part of the world live and work here. As a young and growing metropolis, we’re
attracting top researchers and executives from key industries that have clustered
here, including software development, simulation and training, and laser optics,
to name a few. And, women and minority-owned businesses are on the rise.
In the
last three years alone, our entrepreneurial and small business
resources have swelled – with additions such as the Disney
Entrepreneur Center. Downtown Orlando, the heart of the region’s business community, is undergoing a major revitalization
that is luring both people and industry. Our infrastructure is
solid – boasting everything from nationally recognized educational
institutions to a great quality of life to the availability of
competitive facilities. Together, these assets make the region
extremely appealing to business. Our image as the world’s
top family-friendly destination has also made us one of the most
attractive markets in the world. And, as we’ve heard so many
times from heads of companies, there is so much potential here … particularly
to start and grow a headquarters base.
Where
will the region be 10 years from now? Metro Orlando will continue
to experience growth from multiple sectors within the technology
clusters, particularly from the digital media sector. Corporate
services, including financial and back office, will also expand.
Our strengths will only grow and more challenges will be overcome.
Orlando will continue to be a place where people and culture thrive … it
will be an even better place to start and raise a family, to work
and live … and it will be a great place for people and companies
to put their imagination to work.
On a
Personal Note
Some fun facts, thoughts and favorites of Ray …
- My
favorite place to dine in the region is Seasons 52, a
healthy alternative concept developed by one of our top corporate
headquarter companies,
Darden Restaurants
- When
I’m not trying to attract a company to Orlando,
I enjoy golfing (handicap is 14) and spending time with my family.
- My
wish is for people to pursue and enjoy the best of everything … from
friendships to careers. I feel very fulfilled in my life and I hope
that everyone can find that same fulfillment.
- I’m
a Florida native (a rarity). I grew up on a farm in Monticello,
where
my first job was growing and harvesting a variety of vegetable
crops.
- The
last good book I read was “Good to Great” by Jim
Collins. Some other good books are “The Most Brilliant
Thoughts of All Time” and “The
Wit and Wisdom of Abraham Lincoln.”
- Everyone
should serve or volunteer in their community … one person
CAN make a difference.
- A
favorite quote … “People
who have never made a mistake have never done anything important.” (Author
unknown)
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