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2012 Economic Yearbook
Central Florida Economic Indicators
Lake Mary/Sanford/Seminole County
The 118-foot, 3,500-year-old tree known as "The Senator" burned earlier this year. [Photo: Joe Burbank] |
Seminole's highly regarded school system and cities are making do with less again this year. Sanford fears another decrease of $1 million or more in property tax collections, but the community is benefiting from downtown revitalization efforts. Lake Mary and Winter Springs are helped by their proximity to the University of Central Florida's campuses and high-tech developments.
Businesses to Watch
» Convergys: The management solutions company, with about 1,800 employees, says it will add another 414 customer service and technical support positions at its Lake Mary center this year.
Seminole Population: 439,890 | ||||
Population Growth Rate (2008-12): 1.37% | ||||
Population by Age: | ||||
0-14 | 15-19 | 20-39 | 40-64 | 65+ |
18.07% | 7.02% | 27.06% | 35.11% | 12.73% |
Per Capita Income: $46,014 |
Kissimmee/Osceola County
Osceola County sealed a deal that pays off this year as Colt Manufacturing opens a regional headquarters and begins filling more than 60 jobs paying an average of about $45,000. The weapons maker is investing $2.5 million in return for rent concessions and $250,000 from a state incentive fund.
Says County Commission Chairman John Quiñones: "Attracting an American icon like Colt ... is a real coup for our economic development efforts." AES Inc., an Indiana company that overhauls electronics, weapons systems and accessories for the military and prime contractors, also announced it will move to Osceola, bringing 20 jobs paying an average of $60,526. Look for more relocation interest driven in part by the local expansion of Valencia College and its reputation for workforce education. The college is designing specialized training courses for Colt.
Tourism continues to gain importance, and Fun Spot Action Park in Kissimmee is expanding, while agriculture struggles with citrus pests, competition and higher costs.
Osceola Population: 289,736 | ||||
Population Growth Rate (2008-12): 2.57% | ||||
Population by Age: | ||||
0-14 | 15-19 | 20-39 | 40-64 | 65+ |
20.93% | 8.27% | 26.89% | 32.56% | 11.36% |
Per Capita Income: $27,688 |
Lake County
With its economy driven in recent years mostly by residential development, Lake County took a severe hit with the collapse in construction and housing prices, but the county's other main source of income — transfer payments to retirees — has been a stabilizing factor.
Now both are poised to grow as residential construction gradually picks up, mainly in the Villages development. Leesburg, the county's largest city, hopes to regain momentum and grow jobs by developing a Florida Energy and Aerospace Park near Florida's Turnpike
Lake Population: 314,977 | ||||
Population Growth Rate (2008-12): 1.77% | ||||
Population by Age: | ||||
0-14 | 15-19 | 20-39 | 40-64 | 65+ |
17.02% | 5.75% | 19.91% | 32.42% | 24.90% |
Per Capita Income: $35,205 |