Major Happenings

MAJOR 2007 BUSINESS HAPPENINGS, DEVELOPMENTS AND ECONOMIC TRENDS IN METRO ORLANDO THAT HAVE A NATIONAL IMPACT

• Biotech and medical technology industries are emerging, thanks to several recent announcements and projects that include: the University of Central Florida’s new medical school and health care campus, and leading R&D work coming out of UCF that pertain to an anthrax vaccine generated through the genetic engineering of tobacco plants, stem cells used from bone marrow to help treat Alzheimer’s and a protein to stop tumor cells from spreading. The Orlando region has a healthy number of medical technology companies that manufacture products that deal with tendon repair, spinal implants, bladder control and more. Our top-ranked hospitals are expanding and our growing agritechnology industry sector is blossoming. Metro Orlando is also home to the headquarters of CuraScript, a national pharmaceutical distributor, which is expanding in the region.

• Sports and game development is taking off. Electronic Arts’ Tiburon studio in Orlando is expected to create 650 new jobs and $8.4 million in capital investment. They are the largest developer and publisher of interactive entertainment software. In addition, Central Florida-based XOS Technologies is growing by leaps and bounds and jump shots, as it develops coaching and fan-management technology for sports teams.

• Orlando is becoming a center for digital media. The breadth of the software, simulation and entertainment industries here is fueling the growth of digital media. Several local animation companies have opened up in the last year, as well as a new digital media school. Plans are underway for a one-of-kind Digital Media Village in downtown Orlando.

• Orlando is a recognized leader in simulation, laser and information technology Industries. The nation’s military simulation training centers are based here; world-renown laser scientists work at the University of Central Florida; JetBlue opened a new pilot and crew training facility; three of the four top jobs in Central Florida through 2001 will be IT related; and a new incubator for companies in lasers and optics is being constructed at UCF.

• Entrepreneur and tech start-ups are mounting, thanks to the growing resources at UCF. Funding for research at this young, 38-year-old university has already surpassed $100 million, and more than 200 patents have been issued here in the past seven years. Of those patents, 15 companies were started. In addition, since the opening of UCF’s Technology Incubator in 1999, the 70,000-square-foot facility has helped more than 70 emerging technology companies and currently hosts more than 50. Together, those companies have generated more than $150 million in revenues, more than $100 million in investment and more than 450 jobs. In addition, UCF is building a photonics industry incubator.

• Metro Orlando has become a hub for corporate division, association and U.S. operations headquarters. Science Applications International Corporation’s regional training and simulation solutions headquarters, The Home Depot’s Supply Division, L-3 Communications’ Advanced Laser Systems Technology, Electronic Arts’ Tiburon Studios, the Amateur Athletic Union, international simulation companies Adacel and Indra Systems’ U.S. operations all call Orlando home and praise the region for everything from its strategic geographic location to established industry clusters to a young workforce.

• Metro Orlando has accumulated a wealth of the financial services industry. Leading banking software companies have clustered here; major and independent banks are expanding; related back office and customer support centers are mounting; and insurance and mortgage lending companies continue to move in. Companies that call Orlando home, just to name a few, are The Bank of New York Company, Inc., Charles Schwab & Co, Metavante Banking Services, and FiServ.

• Orlando is top-ranked for small business growth. According to SalesGenie, a service of InfoUSA Inc., the number of small businesses in Orlando increased from 66,588 to 89,150 from 1998 to 2003 – a 33.9% change. Supporting this growth in Orlando is everything from a nationally ranked technology incubator to one of the U.S. Small Business Administration’s National Entrepreneur Centers and more. In addition, the number of women-owned businesses is steadily on the rise, particularly in the field of engineering.

• Orlando companies are leading the way in homeland security. In addition to top defense contracts obtained by Orlando’s Lockheed Martin divisions, several home-grown companies are on the front lines of homeland security initiatives for the national government. These companies’ business lines include simulation (Industrial Smoke and Mirrors), land-mine detection (CyTerra Corp.), digital forensics (I.D.E.A.L. Technology Corp. and Florida Law Enforcement Electronic Evidence Team at the University of Central Florida), laser-radar systems (H.N. Burns Engineering Corp.) and thermal imaging systems (Digital Infrared Imaging Inc.).

• Metro Orlando is the site of the state’s first hydrogen energy station (a result of a collaborative effort between the State of Florida, Ford, ChevronTexaco and Progress Energy), which will fuel hydrogen-powered shuttle buses that will transport visitors at the Orlando International Airport (scheduled for 2006).

• The construction industry is bustling with multi-billion dollar activity, which includes several office, condo and mixed retail developments that are revitalizing Downtown Orlando and creating an estimated 5,200 new jobs. In addition, a new development is underway called ‘Innovation Way’ – a stretch of land spanning from the University of Central Florida to Orlando International Airport that will entail a proposed expansion of our Central Florida Research Park (one of the top 10 research parks in the country) as well as housing and retail development. This southeast corridor will also house a new $70 million campus of Valencia Community College – one of the largest community colleges in the U.S. and will be adjacent to UCF’s new medical school campus.

Metro Orlando added more than 44,000 jobs last year (the most of any metro area in the state) and ranks 15th in the nation among the 100 largest labor markets with at least 240,000 non-farm jobs. Non-farm employment grew by 22,200 jobs to 968,000 from 2003 to 2004.