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Innovation Way: A Commitment to Compete. Presented to: Orange County Board of County Commissioners March 29, 2011. Innovation Way: A Commitment to Compete. Presented by: Jim Spaeth, President of Remora Partners. Observations Educated people generate community wealth.

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Innovation way a commitment to compete

Innovation Way:

A Commitment to Compete

Presented to: Orange County

Board of County Commissioners

March 29, 2011


Innovation way a commitment to compete

Innovation Way:

A Commitment to Compete

Presented by:

Jim Spaeth, President of Remora Partners


Innovation way a commitment to compete

Observations

Educated people generate community wealth.


Innovation way a commitment to compete

1. Educated people generate community wealth.

“Smart, entrepreneurial people are the ultimate source of a city’s economic power.”

- Dr. Edward Glaeser, Director of the Taubman Center for State and Local Government, Harvard University, and author of The Triumph of the City (2011)

“Smart people of the highly educated sort that economists refer to as ‘human capital’ are key engines of economic growth and development.”

- Dr. Richard Florida, Director of the Martin Prosperity Institute, University of Toronto, and author of The Great Reset, 12/22/10


Innovation way a commitment to compete

Education levels determine any community’s wealth.

- Source: American Community Survey, Census Bureau, ESRI (2010).


Innovation way a commitment to compete

Education levels determine any community’s wealth.

Orlando (70th)

- Source: American Community Survey, Census Bureau, ESRI (2010).


Innovation way a commitment to compete

Educational attainment determines

personal income level.

Median Annual Earnings – 2009

Source: Bureau of Labor Statistics, May 2010


Innovation way a commitment to compete

Educational attainment determines employment status.

Unemployment Rates – February 2011

Blended rate of 8.9%

Source: Bureau of Labor Statistics, March 2011


Innovation way a commitment to compete

Observations

Educated people generate community wealth.

Educated people are leaving Orlando.


Innovation way a commitment to compete

2. Educated people are leaving Orlando.

Net gain of 36,411 in working age population in Orlando MSA masks loss of 11,241 workers with degrees

- Source: American Community Survey, Census Bureau (2009).


Innovation way a commitment to compete

Educated people are arriving in Austin.

Net gain of 100,838 in working age population in Austin MSA contains gain of 45,968 workers with degrees.

- Source: American Community Survey, Census Bureau (2009).


Innovation way a commitment to compete

Orlando is one of only 34 cities with over 30,000 new workers from 2007-09.

- Source: American Community Survey, Census Bureau (2009).


Innovation way a commitment to compete

Orlando is the only one of those cities that lost people with college degrees.

- Source: American Community Survey, Census Bureau (2009).


Innovation way a commitment to compete

30 cities attracted a workforce consisting of at least 30% with college degrees.

- Source: American Community Survey, Census Bureau (2009).


Innovation way a commitment to compete

From 2000-09, Orlando ranked next to last in the % of new workforce with degrees.

- Source: American Community Survey, Census Bureau (2009).


Innovation way a commitment to compete

Subtracting 2007-09,

Orlando still ranked below average.

- Source: American Community Survey, Census Bureau (2009).


Innovation way a commitment to compete

Observations

Educated people generate community wealth.

Educated people are leaving Orlando.

Therefore, Orlando is losing community wealth.


Innovation way a commitment to compete

Due to its loss of educated people, Orlando now has less community wealth.

- Source: American Community Survey, Census Bureau, ESRI (2010).


Innovation way a commitment to compete

Losing educated population means

losing more community wealth.

- Source: American Community Survey, Census Bureau, ESRI (2010).


Innovation way a commitment to compete

Orlando’s competitors for life science

companies are all gaining educated people.

- Source: American Community Survey, Census Bureau, ESRI (2010).


Innovation way a commitment to compete

The only way to compete with those

cities is to attract educated people.

- Source: American Community Survey, Census Bureau, ESRI (2010).


Innovation way a commitment to compete

Attracting educated people will

increase community wealth.

- Source: American Community Survey, Census Bureau, ESRI (2010).


Innovation way a commitment to compete

Attracting educated people will

increase community wealth.

Increased community wealth creates options for investment – in people and places.

- Source: American Community Survey, Census Bureau, ESRI (2010).


Innovation way a commitment to compete

Observations

Educated people generate community wealth.

Educated people are leaving Orlando.

Orlando is losing community wealth.

The Innovation Zone attracts educated people.


Innovation way a commitment to compete

The Innovation Zone occupies portions of eastern Orange and Seminole counties.

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OIA

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Innovation way a commitment to compete

The Innovation Zone contains an impressive collection of innovation economy assets.

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Innovation way a commitment to compete

The Innovation Zone houses the most educated people in central Florida.

Concentration of bachelors degrees in central Florida

Concentration of graduate degrees in central Florida


Innovation way a commitment to compete

The Innovation Zone houses the most educated people in central Florida.

Concentration of graduate degrees in central Florida


Innovation way a commitment to compete

The Innovation Zone houses the most innovative people in central Florida.

Concentration of technology workers in central Florida

Concentration of graduate degrees in central Florida


Innovation way a commitment to compete

The Innovation Zone houses the most innovative people in central Florida.

Concentration of computer workers in central Florida


Innovation way a commitment to compete

The Innovation Zone houses the most innovative people in central Florida.

Concentration of life and social science workers in central Florida


Innovation way a commitment to compete

The Innovation Zone houses the most innovative people in central Florida.

Concentration of education workers in central Florida


Innovation way a commitment to compete

The Innovation Zone links assets, people and jobs together in innovative industries.

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Optics & Photonics: 15,000 jobs

Modeling & Simulation: 16,000 jobs

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Life Sciences: 16,200 jobs

Digital Media: 30,000 jobs

528

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Space?

Cleantech?

VCC

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Innovation way a commitment to compete

Those innovative industries

create innovative ideas.

Source: Orlando Sentinel / Remora Partners


Innovation way a commitment to compete

The Innovation Zone contains more than 450,000 educated, young,

innovative people.

Source: ESRI (2010).


Innovation way a commitment to compete

The Innovation Zone competes with

Austin - not with

the rest of Orlando.

Source: ESRI (2010).


Innovation way a commitment to compete

The Innovation Zone competes with

Austin - not with

the rest of Orlando.

Source: ESRI (2010).


Innovation way a commitment to compete

The Innovation Zone competes with

Austin - not with

the rest of Orlando.

Competing with Austin means increasing the population

in the Innovation Zone.

Source: ESRI (2010).


Innovation way a commitment to compete

Observations

Educated people generate community wealth.

Educated people are leaving Orlando.

Orlando is losing community wealth.

The Innovation Zone attracts educated people.

Innovation Way sits in the middle of the Innovation Zone.


Innovation way a commitment to compete

Innovation Way sits in the

middle of the Innovation Zone.

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Innovation way a commitment to compete

Innovation Way sits in the

middle of the Innovation Zone.

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UCF

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INNOVATION WAY

OIA

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VCC

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Innovation way a commitment to compete

Innovation Way sits in the

middle of the Innovation Zone.

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SSC

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UCF

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408

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INNOVATION WAY

OIA

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VCC

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Innovation way a commitment to compete

Innovation Way is the most logical place to house educated people.

Concentration of bachelors degrees in central Florida

Concentration of graduate degrees in central Florida


Innovation way a commitment to compete

Innovation Way is the most logical place to house educated people.

Concentration of graduate degrees in central Florida


Innovation way a commitment to compete

Innovation Way is the most logical place to house educated people.

Concentration of life and social science workers in central Florida


Innovation way a commitment to compete

Innovation Way is the most logical place to house educated people.

Concentration of education workers in central Florida


Innovation way a commitment to compete

Closing Thoughts

Educated people are critical to economic success – and Orange County is losing the competition for them.


Innovation way a commitment to compete

Closing Thoughts

Educated people are critical to economic success – and Orange County is losing the competition for them.

The Innovation Zone must play a leading role in a strategy to attract educated people.


Innovation way a commitment to compete

Closing Thoughts

Educated people are critical to economic success – and Orange County is losing the competition for them.

The Innovation Zone must play a leading role in a strategy to attract educated people.

Innovation Way is the centerpiece of a commitment to compete in the innovation economy.


Innovation way a commitment to compete

Innovation Way:

A Commitment to Compete

For more information:

www.remorapartners.com


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