Growth in Central Florida has slowed a bit over the past few years leaving some businesses, small and large, forced to close their doors.

The truth is, a majority of our state and local dollars come from growth and property taxes, agriculture and tourism. If one of those economic legs isn’t doing well, then we have a major funding problem, like we have right now. To create a sustainable economic future in Central Florida, we must take advantage of opportunities to change our economic landscape.

Historically speaking, successful economic development begins with transportation planning.  Companies and jobs will not come without access to transportation - be it a road, a port, an airport, a rail line, a bus route, etc.  Education also plays a key part in creating a sustainable economic environment; without a strong education system, an educated workforce and access to future workers, companies will be limited in the employees they can attract and retain.  Our close proximity to UCF and the recent opening of Monument Parkway, a key transportation component necessary to realize the vision for Innovation Way, are a step in the right direction for long term economic strength.

Luckily for those of us reading this, our future is in our hands - literally right in our own backyard.  East and Southeast Orange County are a vital piece to the economic landscape puzzle, if you will, with several large-scale opportunities primed to strengthen our economic future. From Lake Nona’s “Medical City” to the expansion of the Central Florida Research Park into ICP to redevelopment efforts amongst many of our small business corridors, diversification and economic prosperity are knocking at our doors. It’s up to our political and business leaders to answer those calls and open those doors.

The opportunities here are different than most across our nation.  That’s because we are already home to several successful economic business clusters, all of which provide the foundation for future economic opportunity and overall job creation.  Mainly located within the Central Florida Research Park adjacent to UCF, are close to 10,000 jobs in the Life Sciences, Simulation, Aviation/Space, Digital Media and Optics/Photonics clusters.  With the establishment of Medical City and the proposed expansion of Research Park, indicators point to an expanded Life Sciences cluster and the beginnings of a medical simulation and clean technology clusters.  As recent as last month at the East Orlando Chamber of Commerce luncheon discussing these economic clusters, Percy Luney of Space Florida indicated that there is additional discussion of establishing a research corridor along the Beachline/528 for businesses doing business with NASA and the International Space Station.

My husband and I are small business owners and our business has absolutely nothing to do with economic clusters.  Neither he nor I will ever work in a laboratory, design a widget or find a cure to a rare disease.  However, we will continue to call this area home and welcome economic advances that will ultimately make our community stronger - providing jobs, increasing property values and contributing to an overall improved quality of life.  Who knows, maybe one day one of these new clusters will inspire us to start another small business feeding their employees, taking care of their pets, selling their homes or providing their kids with daycare.

Article by Jennifer Thompson