ic Econom Report
2017
Flagler County Board of Commissioners. The Flagler County Board of County Commissioners created the Department of Economic Opportunity (FCDEO) in 2011. During that time, Flagler County had the highest unemployment rate in the State of Florida – over 12%. Once created, the Commissioners reviewed applications for the Economic Opportunity Advisory Council (EOAC) members. Nine residents were selected to serve on the council based on their industry expertise and background. The EOAC Board hired an Executive Director to structure the department, develop a strategy, and oversee the day-to-day operations. The Flagler County DEO employs three methods to facilitate the creation of jobs and foster capital investment. They include: • • •
Attraction of New Companies to the Area (business recruitment) Growth/Expansion of Existing Firms within the Area (business retention and expansion) Creation of New Entities (entrepreneurial development)
Success does not come without strategic planning, substantial work, and strong partnerships. While recruitment and retention of jobs are the end goal, comprehensive economic development encompasses more. In order to achieve these goals, we need to view the region holistically and ensure that infrastructure, the talent and the county are primed for business. The collective impact realized through our partnerships with local businesses, organizations and key stakeholders continues to fuel the trajectory of continued growth and success.
TABLE OF CONTENTS INTRODUCTION / CONTENTS VITAL STATISTICS PGS 1-2 ECONOMIC TRENDS PGS 3-4 ECONOMIC GROWTH PG 5 EMPLOYERS PG 6
ANNOUNCEMENTS 9-10
For more information contact: Helga van Eckert Executive Director Flagler County DEO
HEADLINES PGS 11-12
(386) 313-4071 HvanEckert@FlaglerCountyEDC.com
TALENT PGS 7-8
Flagler County is located on the east coast of Florida, approximately 30 miles north of Daytona, 60 miles south of Jacksonville and 60 miles east of Orlando. The City of Bunnell is the county seat and Palm Coast is the largest city by population. The County is included in the Deltona-Daytona Beach-Ormond Beach, Florida metropolitan statistical area (DDO MSA), which includes Flagler and Volusia Counties. It is also included in the Orlando-Deltona-Daytona Beach, FL Combined Statistical Area and part of the Northeast Florida Economic Development Regional Partnership, known as JaxUSA. Total population in the County has grown to 107,331. A study, prepared by Boyette Strategic Advisors, compared the Flagler County Millennial and GenZ populations to our neighbors to the north and south found that within the last five years, Flagler County has the highest growth, 11.4%, within these generational categories. St. Johns County is the next highest at 9.5%. The County also has a high percentage of the 20 to 65 year old age group, at 51%. Relative to the State and the Nation, Flagler County’s percent employment growth shows marked improvement at 2.7% year-over-year versus the Nation at 1.4%. Additionally, once ranked the highest for unemployment in the State of Florida, Flagler County is now at a much more acceptable ranking of #14.
1
Vital Statistics
Bunnell 3.1%
Unincorporated 16.8% Marineland, 0.1% Beverly Beach 0.04%
Population by city
Flagler Beach 4.5%
Source: Census
Palm Coast, 75.4%
$49,890/yr
$242,421
Average Household Income Source: FL Association of Realtors
Average Single Family Home Price
$1,104
Source: FL Association of Realtors
Average Rental Price Source: COLI
$29,687/yr
32.7%
Average Individual Income Source: Census
Population By Age
Source: Census
9.32%
9.31%
10.81%
13.31%
7.92%
2.5
29.89%
Annual Rate (in percent)
4.09% 4.78% 10.58%
0-4 yrs
5-9 yrs
10-19 yrs
20-29 yrs
30-39 yrs
40-49 yrs
50-59 yrs
60-64 yrs
65+ yrs
2
of our population has a college degree.
Growth Projection 2016-2021
Flagler FL USA
1.5 1 0.5 0
Population Households Families Owner HHs Median HH Income Source: Census
Unemployment Rate Comparison
13.0 12.0
Flagler Florida
6.0
USA Source:
5.0
Florida DEO
4.0
2011
9.0
2012
8.0
2013
7.0
2014 2015
6.0
2016
5.0 Jan '14
Jul '14
Jan '15
Jul '15
Jan '16
2017
4.0
July '16
Jan
Feb
Mar
Apr
May June
July
Aug
Sept
Oct
Nov
Dec
Source: Florida DEO
Month
Available Workforce
Unemployment Rate
10.0
7.0
50,000
12%
Employee By Occupation
45,000
10%
Source: FL DEO
40,000
8%
35,000
6%
30,000
4%
25,000
2%
20,000
2012
2013
2014
2015
2016
0%
Execs & Managers OďŹƒce Support
Unemployment Rate
Economic Trends
Flagler County Historic Unemployment Rates
11.0
8.0
0.0
Unemployment Rate %
9.0
7.55
Business & Financial
9.94
Computer and Mathematical
15.06 17.08
2017
0.26
Life/Health Science
Annual LaborForce & Unemployment Trends Source:
2.85 1.44 0.94
15.69
Florida DEO
14.11
7.17
5.9% population growth in Florida over last 5 years.
Architecture and Engineering
5.67
0.47
Legal Education Food Preparation Sales Farming Construction Manufacturing/ Distribution
Historic Monthly Residential Permits
100 90
Flagler County Single Family Home Market
80 70
Closed Sales
60
20 10 Jan
Feb
Mar
Apr May
Jun
Jul
Aug
Sep
Oct
Nov
262
-9.2%
$172,500
15.9%
2015
Average Sale Price:
$242,421
$211,175
14.8%
2016
Dollar Volume
59
65
2017
0
238
% Change Yr/Yr
$200,000
2014
30
May ’16
Median Sale Price:
50 40
May ‘17
-9.2% Source: Florida Realtors Association
Dec
Source: Flagler County Home Builders Association
Flagler County Residential Permits US News and World Report named Palm Coast 9th in the nation for home ownership
Source: Flagler County Home Builders Association
5500 5000 4500
Annual Residential Permits
4000 3500
9% population growth in Flagler over last 5 yrs
3000 2500 2000 1500 1000 500 16
population growth in Flagler County yr/yr.
20
2.7% annual
Economic Growth 5
GIOIA SAILS SOUTH EXPANDS IN FLAGLER COUNTY – Gioia Sails South, originally recruited to Flagler County in 2013, is constructing a 20,000 sq.ft. facility and increasing its staff by over 20%. The manufacturer and direct distributor of marine fabric products to industry giants, such as local Sea Ray Boats, has experienced substantial growth, requiring a larger facility. With limited existing facilities in the local market, the company evaluated relocating outside of the county or constructing a new facility. Working with the Flagler County Department of Economic Opportunity, the City of Palm Coast and a local real estate broker, Gioia Sails was able to locate a temporary expansion facility and a site to construct their new home. This retains the company’s existing 43 jobs and allows for new growth. Performance-based economic incentives included a new construction incentive in the amount of $90,000 over a period of ten years, FiberNet installation, and waived city transport costs. Based on an economic model prepared by Career Source Flagler/Volusia, the company’s retention and capital investment ($2.8 million) will have an economic impact to the county of $27.5M over the next ten years. RIPPLE COWORKING GIVES SMALL BUSINESSES/ENTREPRENEURS A WATERFRONT HOME - Ripple Coworking celebrated it’s launch on May 5, 2017. Owners Kristi and Stephen Furnari relocated from New York to Florida six years ago for an improved quality of life. They rented office space locally but, according to Stephen Furnari, quickly recognized “a fragmented community of very skilled, highly professional solopreneurs and remote workers scattered throughout the county.” The Furnaris purchased 712 S. Oceanshore Blvd. in Flagler Beach and constructed a fully-equipped 19-office coworking space with shared common areas, high-speed internet and a front desk reception area. All this and amazing oceanfront views! The space is designed to create opportunities for entrepreneurs and other small-business owners to leverage their talents and grow their businesses.
Employers Major Employment Sectors Year over Year 12%
5.5%
Construction Related
Professional & Business Services
Source: Florida DEO
1%
3%
3.8%
FLAGLER FL US 2.3%
5.3%
Financial Services
Leisure and Hospitality
yr/yr % Employment Growth
Source:
Top Employers
Florida DEO
Average Annual Wage Comparison Source: Bureau of Labor Statistics
$60,000.00
$51,939.00
$50,000.00 $40,000.00
$31,293.00
1069 Flagler 1057 Florida 740 SeaRay Boats County Hospital Schools Flagler
$45,562.00 721 Palm Coast Data
$30,000.00
467 Hammock 690 Publix Supermarkets Beach Resort
$20,000.00 $10,000.00
372 Flagler 303 City Of 270 Flagler County BOCC Palm Coast County Sheriff
$Flagler
Florida
USA
Source: CareerSourceFV
Because You Can! The Flagler EDC & our partners, unveiled the YouCanInFlaglerCounty.com workforce recruitment website last year. The comprehensive website highlights the County’s amazing quality-of-life and serves as a resource for those looking to relocate to the community. Site topics include: dining, education, sports, pets, clubs, organizations, events, parks, entrepreneurship, finding a job and more. Now, after a year of successful community interaction, we’re addressing the mobility of technology today with the robust and fully integrated app Flagler CAN! The app is a one-stop-shop for anything and everything Flagler County, and will enable users to keep a daily focus on everything from community events and regional activities to local job listings and business relocation resources. Everything you need to know about living, working & loving Flagler County right to your fingertips! Just tell us what you want and we’ll show you the way. Why? Because we CAN! The app is designed as a multi-generational workforce recruitment tool, engaging existing residents and potential transplants. Gen Zs, Millennials, Gen-Xers and Baby Boomers will appreciate the content and convenience. It answers the question “Why Flagler?” Because you CAN have it all! For the rest of the story visit www.YouCanInFlaglerCounty.com
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d loa ay! n w Do p tod ap the
Workers by Occupation Office & Administrative Support Life Sciences & Healthcare Education Training & Library Production Workers Construction Transportation & Logistics Installation, Maintenance & Repair Business & Finance Operations Management Architecture & Engineering Computer & Mathmatical
Source: Florida DEO 0
500
1000
1500
2000
2500
3000
3500
4000
Average Labor Force Source: Florida DEO
Employment
159,784,000
10,147,000
46,068
COASTAL CLOUD
Source: Florida DEO
Geography
Flagler
FL
U.S.
Current Level:
44,003
9,712,000
152,923,000
Y/Y Change:
+2.7%
+4.4%
+1.2%
named one of Jacksonville’s 50 fastest growing companies!
FLAGLER HIGH SCHOOLS earn silver, bronze status in U.S. News & World report best high school rankings!
Talent
9
U.S. 1 Corridor Study U.S. 1 Corridor Study Unveiled to a Packed Audience Tracy King-Sharp, of Boyette Strategic Advisors (BSA), presented Flagler’s U.S. Highway 1 Corridor Reuse ence at the Flagler Schools Bistro. Attendees learned how to capitalize on the County’s changing brand and high population growth, proximity to larger markets and intermodal opportunities. “This was a great event. I King-Sharp’s insights and recommendations. No doubt, we’re on the right path,” stated Bruce Page, President
Plan to a packed audiimproved reputation, the was impressed with Ms. of IntraCoastal Bank.
BSA reviewed quantitative and qualitative data, including growth projections at the state, national, regional and local level. Also evaluated was empirical data when considering the U.S. Highway 1 Corridor location, the existing businesses and property base. Finally, research was evaluated and cross-referenced with numerous discussions with key business professionals and property owners in the community. The study evaluated the applicability and viability of the county’s targeted industries to the Corridor. Targeted industries include: aerospace and aviation, corporate services, distribution and manufacturing, health and life sciences and high technology. The industries were determined to be “on target”. However, BSA’s research also determined that Entrepreneurship should be added as a priority. Based on opportunities in the county, BSA recommended “…creating the economic development support infrastructure to further develop entrepreneur presence and ensure their ongoing growth.” Finally, the study recommended increased marketing and communication efforts, including the creation of a 3-D virtual corridor, increased target industry conference presence and the continued pursuit and establishment of an Incubator/Innovation Center.
Donald O’Brien Takes the Reins as Chair of the Flagler Economic Opportunity Advisory Council Newly elected Flagler County Commissioner, Donald O’Brien has been appointed as chair to the nine-member Economic Opportunity Advisory Council (EOAC). Mr. O’Brien brings a wealth of business knowledge and insight to the Board’s already impressive talent pool. Currently the Chief Financial Officer and Account Executive at Hayward Brown-Flagler, Mr. O’Brien develops solutions for business insurance and risk management. His 30+ years of banking and insurance experience will provide new target industry perspective to the EOAC Board. He is a Rotarian and active member of several community and business organizations, including: CareerSource Flagler-Volusia, the Florida Hospital Flagler Foundation, the Chamber of Commerce, and the Early Learning Coalition of Flagler and Volusia Counties. Additionally, Mr. O’Brien was selected by the Florida Chamber Foundation to serve on the Six Pillars Caucus System Business Climate and Competitiveness Caucus. “I’m excited to be part of the EOAC and ready to get to work. I see our economic development efforts as being the key to ensuring a solid future for our community,” stated Commissioner O’Brien. Van Eckert Elected to Serve as Regional Representative Flagler’s Helga van Eckert was elected, by her peers, to serve as the Northeast Regional Representative to the Florida Economic Development Council (FEDC). The FEDC promotes economic development throughout the State of Florida by advocating for economic competitiveness, participating in the state legislative process, educating industry professionals, and promoting sound programs and policy. It is a professional association of economic, workforce, port, airport, industrial authority, chamber and community developers/specialists. In her role, Ms. van Eckert will be part of the statewide network of public and private economic development stakeholders tasked with developing a common language and best practices in economic development. There are eight economic development regions in the state. The Northeast Region includes: Baker, Clay, Duval, Flagler, Nassau, Putnam, and St Johns Counties.
It’s all about the jobs!
The Economic Development bill, signed by Governor Scott on June 26, adds a new $85 million Florida Job Growth Grant Fund. The dollars are focused on job training and public infrastructure. “With this legislation, we can promote public infrastructure projects and job training projects to continue to grow jobs for families in every community of our state. We know that for Florida to be competitive in domestic and international markets, we need as many tools as possible to attract growing businesses to our state. The $85 million in Florida Job Growth Grant fund is what Florida needs to bring major jobs wins home,” state Governor Scott.
11
12
Flagler Career Fair - Huge Success
Whether hoping to find a fresh start, a better job, or a new career direction, job seekers, were able to find a wealth of exciting opportunity at this year’s 3rd Annual Flagler County Job Fair. This year, 53 businesses participated in the event. That’s a 13% increase over the number of employers last year. Employment opportunities ranged from entry level, minimum wage jobs, through senior level medical, technical and engineering positions. Over 300 job-seekers participated in the event. Feedback from the employers confirmed that the event was a success. They reported being very impressed with the local talent pool. Early statistics revealed that there were 78 follow-up interviews and 29 hires! The event was organized by the Flagler Department of Economic Opportunity, Daytona State College, CareerSource Flagler-Volusia and
job!
o
9.7%
o
dees lan de tten fa
da
37%
ew tervi ees w e f in
d hire re
ot a foll ow es g de
interview up
26% of atte n
the Flagler County Chamber of Commerce.
Facebook.com/FlaglerCountyEDC
@Flagler_FL_EDC
@FlaglerCountyEDC