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2018 Economic Yearbook
Central Florida: In 2018, economic strengths and challenges, people to watch
People to Watch
Jim Karr: Karr is the spokesperson for a group of south Lake County property owners who pooled their land into a development plan called Wellness Way, which will include homes, hightech health-care jobs and other industries.
Paul Johns: The COO of South Lake Hospital has spearheaded the hospital’s rapid growth.
Gerry Guenther: Guenther’s G3 Development in Mount Dora specializes in health care and medical office buildings and housing projects.
Tim Giuliani: The new president and CEO at the Orlando Economic Partnership is tasked with integrating operations of the former Orlando Economic Development Commission and the Central Florida Partnership.
John Callahan: Callahan is the new vice president of technology for BRIDG, the consortium led by UCF, Osceola County and the Florida High Tech Corridor Council. It off ers businesses the opportunity to share equipment and conduct research to develop next-generation sensors.
Brett Hage: The president of T&D Distribution heads the Sumter County Chamber of Commerce. He was named Volunteer of the Year for 2018 by the Florida Economic Development Council’s East Central Region.
Regional Roundup
Brevard County
County Population: 583,690, +5.9% vs. 2013
5-Year Change in Wages / Salaries: 10.8%
Per Capita Income: $44,137
Elon Musk and his SpaceX program launched a Falcon Heavy into space in February, bringing two of its reusable boosters back to the space center. Blue Origin is also launching from the space center.
Lake County
County Population: 347,158, +12.7% vs. 2013
5-Year Change in Wages / Salaries: 20.5%
Per Capita Income: $40,750
The Villages of Fruitland Park neighborhood has fewer than 60 lots remaining. Close to 2,000 homes have been built there since 2014, with some approaching $1 million. In January, Leesburg city commissioners agreed to rezone 2,631 acres not far from downtown to allow another Villages community to be called The Villages of West Lake. The development is expected to have 7,900 homes and 535,000 square feet of retail.
Orange County
County Population: 1.35 million, +10.3% vs. 2013
5-Year Change in Wages / Salaries: 24.3%
Per Capita Income: $42,932
FattMerchant, an Orlandobased payment technology provider, tapped into $5.5 million in venture capital from Atlanta’s Fulcrum Equity Partners in 2017. Suneera Madhani, founder and CEO, says the money will allow the company to hire 50 people, most in Georgia.
Osceola County
County Population:350,060, +16.6% vs. 2013
5-Year Change in Wages / Salaries: 32.0%
Per Capita Income: $33,017
Osceola’s vacation home industry is attracting foreign investors as well as other buyers interested in homes near Disney. Margaritaville, a resort/vacation/entertainment development, is expected to open this year.
Seminole County
County Population: 472,281, +8.2% vs. 2013
5-Year Change in Wages / Salaries: 24.1%
Per Capita Income: $46,972
Seminole County attracted 907 new jobs with an average wage of $52,024 in 2017. Capital investment amounted to $25.3 million. A year earlier, the county netted 1,526 new jobs with an annual wage of $61,647. Capital investment that year was $107.1 million.
Sumter County
County Population: 129,707, +19.8% vs. 2013
5-Year Change in Wages / Salaries: 26.5%
Per Capita Income: $42,659
Boat manufacturer Crevalle expanded, adding 20,000 square feet to meet demand for its center console bay boats. The former Central Beef plant, the largest packing facility in Florida, closed in 2016 only to be bought and reopened by Florida Beef of Zolfo Springs.
Volusia County
County Population: 531,832, +6.1% vs. 2013
5-Year Change in Wages / Salaries: 17.1%
Per Capita Income: $41,213
The county expects to be debt-free by the end of this year after paying off three bonds in October. County Manager Jim T. Dinneen says it is rare for local governments in Florida to be debt-free. The lack of debt should allow the county to buld a county courthouse.
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