The Leader - September/October 2008 - (Page 80) s pec Ia l fe at ur e The Florida Report: Sunshine State Moves to the Forefront in R&D, Life Sciences & International Trade BY BaIleY WeBB florIDa’s loNG sINce sheD the ImaGe as prImarIlY a haveN for tourIsts, retIrees aND cItrus proDucers, Not that those seGmeNts areN’t stIll vItal coGs to the state’s ecoNomY. each Year, the suNshINe state plaYs aN INcreasINGlY crItIcal role IN hIGh tech, aerospace aND avIatIoN, loGIstIcs aND fINaNce, expaNDING tIes Both NatIoNallY aND INterNatIoNallY as traDe BarrIers Drop aND travelers aND INterNatIoNal fIrms take aDvaNtaGe of theIr curreNcY’s streNGth aGaINst the Dollar. I n fact, Florida ranked third among U.S. states in high-tech exports in 2007, with $13.3 billion, about one-third of the state’s total, according to state economic development institution Enterprise Florida. It ranked fourth nationwide in high-tech employment and added more high-tech firms in 2005 and 2006 than any other state outside of California. In targeted sectors such as aviation and aerospace, defense and homeland security, finance and life and bio sciences, the state eclipsed its goal of 18,000 new jobs through the fiscal year ending 30 May, adding 18,659 new jobs in its targeted sectors. Among many big wins, software firm Channel Intelligence chose to expand in Kissimmee in Osceola County, adding approximately 500 employees with an average salary 200 percent higher than the county’s average and an overall capital investment of $33 million. For the aviation industry, Brazilian jet maker Embraer is making a $50 million investment in a Melbourne manufacturing facility, while Piper is in the midst of a $40 million expansion in nearby Indian River County. Overall, Florida companies set a record for capital investment over the same period, achieving nearly $2.3 billion in capital investment over the previous year’s approximately $2 billion, with an even split between new and existing industries, said Bob Rohrlack, senior vice president of Enterprise Florida. At the same time, the state reduced expenditures on incentives. “That’s a huge positive statement about Florida’s economy and its ability to retain and expand,” Rohrlack said. “That was a big success for us, especially with what’s going on with the economy. We’re proving that this is a strategic location for business.” 2 0 0 8 th e le aDe r 80 septemBer / octoBer
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