Rick Weddle, head of North Carolina's Research Triangle Park, to lead Metro Orlando Economic Development Commission

The Metro Orlando EDC is pleased to announce that Rick Weddle, President and CEO of the Research Triangle Foundation of North Carolina, the entity that owns and develops the renowned Research Triangle Park, has been hired as President and CEO.

Weddle's extensive career in economic development will bring unique strengths to the Metro Orlando market, which is working to diversify its industry base and build-out ambitious projects, such as 'Medical City' at Lake Nona. As CEO of the Research Triangle Foundation, Weddle has been responsible for marketing and operation of the leading and largest high-technology park development in North America. Since 2004, under his leadership, the Research Triangle Park has surpassed historic gains, generating development projects with projected capital investment of over $800 million and the projected creation of over 5,500 new, high quality jobs.

Prior to his arrival in the Research Triangle, Weddle served as President and CEO of the Greater Phoenix Economic Council (GPEC) in Phoenix, Arizona. Throughout his career, which spans from the 1980s, he also led economic development organizations in Toledo, Ohio, where he served as President and CEO of the Regional Growth Partnership (RGP); in Stockton, California, as President and CEO of the San Joaquin Partnership & Business Council; and in Winston-Salem, North Carolina where he was President and CEO of Winston-Salem Business Inc.

"We could not be more pleased that Rick Weddle will lead the Metro Orlando EDC," said David Pace, who, as EDC Chairman of the Board, led the search process. "He is one of the most recognized and accomplished economic development professionals in the nation. When Rick became known to us, we knew that we owed it to our region to get this individual on board."

Pace continued, "What Rick brings to Metro Orlando is a long track record of success in job creation, extensive experience in national and international economic development, and extensive experience in the business of science and technology parks. He is the absolute right person to lead economic development in a community such as ours, which is ripe with potential and poised for growth."

Weddle is well known in international economic development circles. He currently serves as Vice President of the International Association of Science Parks (IASP) and was elected President of IASP-North American Division in December 2007. He also has been active in the International Economic Development Council (IEDC) since its inception. In 2002, Mr. Weddle was elected as the first Chairman of the Board of the IEDC; in 2007 he was awarded the designation of Honorary Life Member; and in 2009 he received the 2009 Lifetime Achievement Award for Excellence in Economic Development in honor of Edward deLuca.

Weddle is also an active speaker and recognized expert who has appeared on CNBC, among other national news programs. In addition, he has served on numerous gubernatorially-appointed task forces and working committees and he currently serves on the Board of Directors of various national and regional organizations, including: Research Triangle Regional Partnership; Duke Raleigh Hospital; and Chair of the Regional Transportation Alliance.

"I am thoroughly impressed with the people and the determination found here in Orlando," said Weddle. "While there are still challenges ahead in bringing down the unemployment rate and further diversifying the region's economy, the assets, infrastructure and, most importantly, attitude, are in place to make that happen. I am honored and excited to be part of the team."

Weddle's expected start date is March 14th. He and his wife Ginger will relocate to Central Florida from Cary, North Carolina.

At last week's meeting of the Orange County Board of Commissioners, county leaders approved an incentive package designed to help a growing high-tech company remain and expand in the Central Florida Research Park. The county incentive, which is expected to be matched 80:20 by the State of Florida, will allow DSCI, a defense simulation and optics/photonics company, to consolidate out-of-state offices and grow their presence in our region. Within the next three years, the company plans to add 40 new employees to their current workforce of 31; jobs that pay an average wage of more than $80,000, which is double the county's prevailing wage.

This isn't the only EDC client to announce expansion plans in recent weeks. Tecport Optics, an Orlando-based optics company that designs, manufactures, sells and services state-of-the-art thin film vacuum deposition systems, recently expanded into a larger facility and announced plans to double its workforce over the next three years. The EDC has worked with Tecport for several years, providing general assistance and introductions to incentive and grant opportunities, such as the UCF-based GrowFL economic gardening program. As a result, Tecport received an Economic Gardening Business Loan - to be used for working capital purchases, employee training, or salaries for newly created jobs - which will enable the company to bring more of its manufacturing operations to Central Florida.

And in Seminole County, Industrial Lighting Products - a manufacturer of high efficiency lighting and energy-efficient fixtures - recently expanded into a new 40,000-square-foot location in Sanford. The company expects to create 59 new manufacturing jobs over the next two years. The EDC assisted ILP with a refund for sales tax paid on utilities and introduced them to the GrowFL program, as well as other local resources. This growing company is one of 1,723 manufacturers, who together employ 37,000 here in Central Florida.

Manufacturing in the U.S. grew at its fastest pace in seven years, according to a new report from the Institute of Supply Management. This is a positive sign for growth in the manufacturing industry and indicates that companies in this important sector are hiring.

Adding 200 manufacturing jobs during 2010, Orlando is among the top 35 markets for gains in manufacturing jobs, according to an analysis of data from the U.S. Department of Labor's Bureau of Labor Statistics provided by Buffalo Business First, a sister publication of the Orlando Business Journal.

Orlando's manufacturing, warehousing and distribution sector represents a wide range of industries and sizes, including: Mitsubishi Power Systems Americas, Inc.; HD Supply; Lockheed Martin; .decimal; and others. Read more about Orlando's manufacturing sector.

The Metro Orlando EDC's prestigious James B. Greene and Chairman's Awards will be presented at our annual Award Celebration, to be held Thursday, March 10th at The Peabody Orlando. Today we are pleased to announce our 2011 honorees.

The James B. Greene Award, first given in 1990, recognizes an individual who has contributed substantially to the economic development of the region. There are few Central Floridians who have contributed more than this year's honoree: former Orange County Mayor Richard T. Crotty. From his work as a state legislator (1978 - 1992) in advancing the legislation that created the Central Florida Research Park adjacent to UCF; to his distinguished service as Orange County Property Appraiser (1992 - 2001); to his legacy as Mayor of Orange County (2001 - 2011) in helping to bring the dream of a UCF College of Medicine and the Sanford-Burnham Institute to our region's emerging "medical city", Rich Crotty has left an indelible mark on the economic development of Central Florida.

The EDC Chairman's Award, established in 2007, recognizes an individual who has contributed substantially to the work of the EDC. This year's award will go to Richard T. Fulton, legal services partner with the law firm of Baker Hostetler. A longtime member of the EDC Board of Directors who served as Chairman of the Board in 2004, Fulton's commitment to the EDC spans many years and many aspects. As described by current EDC Board Chair David Pace, who will present the award, "No task is too big or too small for Rich." He has negotiated leases and revised bylaws. He has long contributed to the organization's fundraising and friend-raising. And he is the architect of the EDC's Government Liaison Teams, a program that he continues to lead today.

There is much more to learn about these two deserving award winners. We hope you will make plans to join us on March 10th. For registration and event details, click here.