December 18, 2014

2012 Economic Yearbook

Southwest Florida Economic Indicators

Amy Keller | 4/9/2012

Naples/Collier County

Mike Reagan Chamber President and CEO Mike Reagen has teamed up with other leaders to create The Partnership for Collier's Future Economy, which aims to foster business growth.
Strong job growth, increased tourism and a decreasing inventory of homes are just a few of the "flickers of light on the horizon that things are incrementally getting better," says Mike Reagen, president and CEO of the Greater Naples Chamber of Commerce, but concerns remain. While buyers from the north have been buying up homes, the area is still grappling with a glut of commercial property — office vacancy rates for Collier County are high at 16.6%. Reagen and others believe the region needs to do a better job of trying to diversify the economy if the area hopes to achieve long-term success. To that end, Reagen and other key stakeholders in the community recently announced the formation of a group called The Partnership for Collier's Future Economy that will assist businesses with growth by holding roundtable sessions for entrepreneurs and operating a FastTrac GrowthVenture business development program for local CEOs of companies with four to 10 employees and sales of less than $1 million.

Businesses to Watch

Arthrex
Arthrex's $47-million expansion is expected to create 600 jobs in the next five years. [Photo: Arthrex]

» Arthrex: Already one of the county's largest employers, Arthrex is in the beginning stages of a $47-million expansion that will create an estimated 600 jobs over the next five years. The medical device company is planning to build a 160,000-sq.-ft. facility in Ave Maria and is also adding 100,000 square feet of space at its North Naples corporate campus. Arthrex's revenue has increased from $610.9 million in 2007 to $996.9 million in 2010.

Collier Population: 337,421
Population Growth Rate (2008-12): 1.60%
Population by Age:
0-14 15-19 20-39 40-64 65+
15.97% 5.50% 20.02% 30.91% 27.61%
Per Capita Income: $62,225

Charlotte County

Cal Ripken
Cal Ripken
X-Ray Industries in Troy, Mich., recently acquired Punta Gorda-based Arcadia Aerospace and will invest $1.5 million in the company to help it triple the capacity of its plant and add 12 employees. Arcadia provides aircraft ultrasonic inspections. The county also earmarked $500,000 in incentive funds to help lure two unidentified manufacturing companies to Charlotte County. The funds will be paid out only if the companies decide to relocate to Charlotte County and create an agreed-on number of jobs. Cal Ripken, meanwhile, is in talks with county officials about building a youth baseball academy in Port Charlotte. Sarasota County had hoped the facility would be built at Twin Lakes Park since Sarasota is the spring training home of Ripkin's former team, the Baltimore Orioles.


Charlotte Population: 164,939
Population Growth Rate (2008-12): 0.69%
Population by Age:
0-14 15-19 20-39 40-64 65+
11.29% 4.41% 14.67% 34.17% 35.45%
Per Capita Income: $39,116

Tags: Southwest

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