![]() Orlando International Airport Mitsubishi recently announced plans to build its power systems headquarters in Seminole County and its power systems service and manufacturing center in Orange County. This move will bring an estimated 450 new high-paying jobs into the area. Metro Orlando is in a time of growth and diversification. With the influx of technology companies, the Orlando market is one of the hottest tech centers in the nation. The Bank of New York leased 52,000 square feet of space for their mutual-fund support office in a new development, Colonial Center 100, at Colonial Town Park, in the Lake Mary-Heathrow area in Seminole County. Florida Research Park adjacent to the University of Central Florida, is one of the "Top 10" research and development centers in the world. The Metro Orlando market has 8.5 million square feet of Class A office space. 4,000 square miles Population: 1.5 million Number of Businesses: 67,573 Workforce: nearly 800,000 Median Age: 35.4 New Jobs Created: 36,700 New Capital Investment: $2.6 million New Businesses: 12,370 Cost of Living: 9% below national average Annual Average Temperature: 72.1 F Unemployment Rate: 2.8
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Overview continued P. 2 ECONOMYTourism is a large part of the Metro Orlando economy. But like tourism, high-tech, manufacturing, warehouse & distribution, construction, business, financial and professional services draw people from around the world to this thriving, dynamic and diversified economy. Seminole and Osceola counties are among the nation's strongest business markets. The services industry accounts for one in three jobs. The retail\wholesale industry ranks second in total employment followed by government, manufacturing, finance, insurance and real estate, transportation, public utilities and construction. The region anticipates adding another 350,000 new jobs by 2010. Local businesses are predicted to account for 60% of these new jobs. EDUCATIONMetro Orlando has an education infrastructure that responds to the needs of the business community. The University of Central Florida, located 13 miles east of downtown Orlando, is an example of an ongoing cooperative relationship between business and education. Founded in 1963 through the efforts and support of local leaders, UCF now serves more than 25,000 students at its main campus and branches. It offers superior programs in engineering, computer science, and other technology fields, as well as business administration. It incorporates a nationally renowned Institute for Simulation and Training,and Center for Research in Electro-optics and Lasers. Central Florida Research Park, which is adjacent to UCF, is an award winning development wit a concentration of technology-related businesses. The research park is widely considered one of the top 10 research parks in the world. It is a cooperative effort between Orange County and UCF. The other higher education facility with strong links to the business community in the Orlando area is Rollins College, the oldest recognized private college in Florida. Rollins is a 4 year liberal arts college in Winter Park. There are 3 other community colleges with programs to serve the needs of the business community. There are also additional alternatives in higher education in the area. For more information check out our Education section GOVERNMENTThe Metro Orlando business climate attracts new businesses because of its interactive relationships and solid support from government. Because costs here are affordable, taxes are low and high quality labor is available, it is a very supportive environment for business. Its leaders are focused, with long-term goals into the 21st century. For more detail see our government section. OFFICE FACILITIESMetro Orlando was ranked among the "Top 10" U.S. metro areas in new facilities and expansions according to Site Selection magazine. With 100 corporate projects, it was the only metro area in Florida named in the "Top 10". There are more than 450 professional buildings, with over 26 million plus square feet of space, of which more than 9 million is class A space. There are 60 industrial parks, and a number of free standing sites that total more than 20,000 acres, and provide more than 68 million square feet of warehouse and industrial space. TRANSPORTATIONMetro Orlando's central location, and flexible and efficient transportation system make it a natural hub for transport of people and products throughout the state, country and world. Orlando International Airport (OIA) is the 16th busiest hub in the country and the 24th busiest in the world. OIA is located just 20 minutes from downtown Orlando, on 15,000 acres. There are six other airports in Central Florida. See the transportation section. Rail service, passenger and freight is accessible to parts of metro Orlando. Future rail projects include a high-speed train connecting Orlando, Miami and Tampa. Port facilities, deep-and-shallow water ports are also available. Port Canaveral, 50 miles east of Orlando, is a deep-water port supporting both freight and cruise line shipping. The Port of Sanford, 20 miles north of Orlando, is a barge port designed primarily for fuels and steel. The Port of Tampa, on the Gulf of Mexico, ranks ninth in the nation in overall tonnage. Central Florida is at the crossroads of Florida's highway network, which provides easy access to destinations anywhere in the country. Two major limited-access highway systems bisect the area. Interstate 4 runs east and west across Florida from Daytona Beach and Interstate 95 on the Atlantic coast to Tampa on the Gulf of Mexico. Florida's turnpike runs south to Miami and north to join Interstate 75 which extends through Georgia and the Midwest part of the country. Other highways serving the area include U.S. 441, U.S. 17, U.S.27, and U.S. 92, plus a number of state roadways. The Bee-line Expressway provides direct limited access to the Space Center, Port Canaveral and the east coast beaches. The East-West Expressway handles much of the traffic from the City of Orlando. The Expressway is connected by interchange to Interstate-4 (I-4). |
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