How does increasing the jobs in Orlando by 136 percent sound? If the relatively novel concept of “economic gardening” works then it may be possible to increase the job market exponentially, much like it did in the city of Littleton, CO.

Economic gardening was introduced there in 1989 as a demonstration program to deal with sudden erosion of economic conditions. The result was the 136 percent job growth figure. The concept has since emerged as a successful method to create sustainable economic growth for communities that utilize it properly.

At its core, economic gardening embraces the fundamental idea that entrepreneurs and small businesses drive economies. The model seeks to create jobs and produce growth by supporting existing companies within a community.

By connecting powerful entrepreneurs to resources and encouraging the development of essential infrastructure in their businesses, the concept provides owners with resources they would not otherwise have access to. The result increases jobs and revenue for participating organizations.

Leading the charge in Florida is the Florida Economic Gardening Institute (FEGI) and their GrowFL program headquartered at the UCF Office of Research & Commercialization. The Florida Legislature funded FEGI and its partners, which include Workforce Florida, the Florida High Tech Corridor Council and the Florida Economic Development Council among others. The organization provides a wealth of services to second stage growth companies.

To qualify for assistance, these second stage growth companies must meet a set of criteria that includes, but is not limited to: being privately held, employing at least 10 people (but not more than 50) and maintaining a principal place of business in Florida for at least the previous two years.

Once approved, the enterprise will receive a multitude of high-speed, one-on-one technical assistance and business tools at no charge. These include database research, search engine optimization, networking events, seminars, executive roundtables and more.

“These companies are too big to be small and too small to be big,” says Dr. Tom O’Neal, executive director of FEGI and director of the UCF Technology Incubator. “The fundamental problem they have is not having the same access to resources to grow that a major corporation has, but they don’t need the typical small business development services either - they need something to get them to the next level and that’s where we come in.”

O’Neal notes that there was a gap that needed to be filled. The companies, all of which must produce more than $1 million in annual revenue to be accepted into the program, can turn to FEGI for the help they know they need but simply don’t have the time to get to. “We do the things that they need to do in a short amount of time to help them grow. They are still in charge of every aspect of their business, we just supply the specialists,” he says.

Since its inception in November 2009, the goal of FEGI is simple: create more jobs while spreading the economic gardening prospect. “We want to make Florida more prosperous, not just bigger,” says O’Neal. “Our mission is to help these companies become even more successful than they already are by plugging them into resources and introducing them to contacts they wouldn’t otherwise have the chance to meet.”

Their mission is supplemented with the help of area partners, like the Metro Orlando Economic Development Commission and the Florida High Tech Cooridor Council, which helped organize the standing-room-only GrowFL Second Stage CEO Summit in downtown Orlando during late April. The summit served as not only a “speed dating networking event,” but also as a platform for local executives to share their companies with each other and the titans of Central Florida industry.

“What we’re witnessing here is a cross section of community leaders from throughout the Central Florida region willing to help these second-stage companies reach the next level,” says Randy Berridge, president of the Florida High Tech Corridor Council and Waterford Lakes area resident. “These companies represent where the most jobs are created the fastest, so success benefits each of us that live and work here.”

As for the future of economic gardening, O’Neal believes that it should be adopted as a growth strategy by every economic development organization in every county in Florida.

“Ultimately we want to be the catalyst that makes the concept take off locally and lead the way that people do things from now on,” he says. “It’s a necessary tool to have in everyone’s toolbox.”

Article by Corey Gehrold