Area Economic Overview

1. Area Economic Overview

2. Economic Development Council serving Okaloosa County Presented to:Industry Day August 16, 2012 Presented by: Larry Sassano President

3. Economic Development Council • 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 Overview w w w . f l o r I d a – e d c . o r g

4. Economic Development Council The EDC • A non-profit private-public partnership serving as Okaloosa County’s 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. w w w . f l o r I d a – e d c . o r g

5. 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. Economic Development Council EDO vs. Chamber of Commerce • Economic Development Organization Focus • Local Chamber of Commerce Focus • Examples of Chambers and EDC working together in Okaloosa County w w w . f l o r I d a – e d c . o r g

6. 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/Mining/Construction 3.2% Manufacturing 1.2% Wholesale Trade 13.3% Retail Trade 3.5% Transportation/Utilities 1.5% Information 7.6% Finance/Insurance/Real 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% Associate’s Degree 18.1% Bachelor’s Degree 10.5% Graduate/Professional Degree Source: ESRI Market Profile provided by the UWF Haas Center w w w . f l o r I d a – e d c . o r g

7. Economic Development Council Okaloosa’s High Performance Targeted Industries • Aerospace/Aviation/Defense • Information Technology • Life Sciences • Regional & Corporate Headquarters • Manufacturing/Engineering • Renewable Energy • Unmanned Air and Ground Vehicles w w w . f l o r I d a – e d c . o r g

8. 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 w w w . f l o r I d a – e d c . o r g

9. 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. w w w . f l o r I d a – e d c . o r g

10. Economic Development Council World UAV Market 2002-2020 w w w . f l o r I d a – e d c . o r g

11. Economic Development Council UAV and GV Potential w w w . f l o r I d a – e d c . o r g

12. 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 w w w . f l o r I d a – e d c . o r g

13. Economic Development Council Technology Coast Manufacturing & Engineering Network (TeCMEN) Mission StatementEDC member companies formulate TeCMEN to promote growth and advancement within Okaloosa’s 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. w w w . f l o r I d a – e d c . o r g

14. Economic Development Council Trade Shows/Events • NBAA Show • MRO Show • Farnborough Air Show • Paris Air Show • Association for Unmanned Vehicles Systems International • Consultant Missions w w w . f l o r I d a – e d c . o r g

15. 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 w w w . f l o r I d a – e d c . o r g

16. 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 w w w . f l o r I d a – e d c . o r g

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18. 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. w w w . f l o r I d a – e d c . o r g

19. Economic Development Council Partnerships • Air Force Research Laboratory • Doolittle Institute • Office of Economic Development and Engagement • Florida’s 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 • Educational Institutions • Eglin Air Force Base (DoD) w w w . f l o r I d a – e d c . o r g

20. 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@florida-edc.org w w w . f l o r I d a – e d c . o r g