April 28, 2024

Economic Yearbook 2006 - Central Florida

Hispanic Influence

Growing Spanish-speaking population becoming key economic driver in four-county Central Florida region anchored by Orlando.

Diane Sears | 4/1/2006
Orange County

Orange County is the top destination in the U.S. for Puerto Rican migrants, counting 14,347, or about 6% of the U.S. total from 1995 to 2000, according to a survey by Jorge Duany of the University of Puerto Rico. The Bronx, N.Y., ranked second with 13,853, followed by Miami-Dade County with 8,754 and Osceola County with 7,600. ... The eastern part of the county will continue to produce new industry, jobs and housing around Central Florida Research Park and an area dubbed "Innovation Way" between the University of Central Florida and the Orlando International Airport. ... Watch for hospitals to jockey for position as a new Nemours Children's Hospital makes plans to enter the market.

Lake Mary

Continuing to develop its reputation as a high-tech corridor, Lake Mary has been seeing a steady in-migration of companies from within and outside of other parts of Central Florida, says John Omana, the city's community development director. "The bottom line is, people are wanting to move into Lake Mary," he says. ... Central Florida Box Corp. recently relocated its corporate headquarters from south Orlando to Lake Mary. The company manufactures product packaging, point-of-purchase displays and other types of boxes and cardboard products. ... The largest tracts in the city are already developed or earmarked for projects, but these areas can be ripe for redevelopment even if talk of Seminole County being built out by 2015 comes true, Lake Mary officials say.

Sanford

Sanford has always had the most diverse population in Seminole County, but now it's seeing even greater cultural and ethnic in-migration, says Russ Gibson, the city's director of planning and development services. With its unique location on Lake Monroe, its fast-growing Sanford International Airport, and improvements to its schools, roads, hospitals, parks, colleges and zoo, the city is undergoing a renaissance and developing a reputation that brings new residents from Latin America, Europe, Asia, Canada and other parts of the U.S. ... The city has hired a new economic development director, Robert Tunis, to help develop and sustain Sanford's growing economy, including development along the waterfront and downtown. ... A growing arts community is attracting writers, painters, poets and other creative types to Sanford. ... A professional baseball team is considering Historic Sanford Memorial Stadium for its new home.

Seminole County

Over the past decade, as class A office space expanded in Heathrow and ColonialTown Park along Interstate 4 in Lake Mary, most of the companies moving in were from neighboring Orange County. In more recent years, tenants have come from out of state, says Bill McDermott, the county's director of economic development. "They initially bring a cadre of senior people," he says, and then fill other positions from the local workforce. One example: Ruth's Chris, the steakhouse chain that moved its headquarters and 60 jobs to Seminole County from New Orleans after Hurricane Katrina. ... As the workforce grows -- the county saw 2,500 new jobs created last year -- two concerns continue to plague the business community: Transportation and affordable housing. "If you're a manufacturer, and you're going to pay someone $40,000 to $45,000 a year, it's difficult for them to find housing if they're just moving into the area," McDermott says. About 16,000 people cross the St. Johns River bridge every morning from Volusia County, where even traditionally midprice housing is growing more costly. ... Negotiations on a proposed western beltway to connect Apopka and Sanford are expected to continue this year.

Tags: Central

Florida Business News

Florida News Releases

Florida Trend Video Pick

PSTA announced electric fleet plan
PSTA announced electric fleet plan

The Pinellas Suncoast Transit Authority is going all-electric after receiving a $1.5 million grant.

Video Picks | Viewpoints@FloridaTrend

Ballot Box

Do you think recreational marijuana should be legal in Florida?

  • Yes, I'm in favor of legalizing marijuana
  • Absolutely not
  • I'm on the fence
  • Other (share thoughts in the comment section below)

See Results

Florida Trend Media Company
490 1st Ave S
St Petersburg, FL 33701
727.821.5800

© Copyright 2024 Trend Magazines Inc. All rights reserved.