( Business Portrait ) Orlando / Orange County Follow the Leaders
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( Business Portrait ) Orlando / Orange County Follow the Leaders. Follow Florida Trend. Follow the 250,000 business, government and civic leaders who rely on Florida Trend each month to deliver the latest news items and developing trends in Florida business. Why not join them at a special introductory subscription rate? www.FloridaTrend.com/subscribe ( Business Portrait: Orange County ) T rend Florida www.FloridaTrend.com Publisher Andrew P. Corty A Word from the Publisher Executive Editor Mark R. Howard EDITORIAL Managing Editor John Annunziata Welcome to Florida Trend’s South Florida Editor Mike Vogel Associate Editors Amy Keller, Art Levy, Lilly Rockwell Business Portrait featuring Restaurant Editor Chris Sherman Contributors Rochelle Broder-Singer, Lori Capullo, Orlando and Orange County. In Charlotte Crane, Jerry Jackson this digital e-zine format, you’ll ART see the full report that was fea- Art Director Gary Bernloehr tured in our May 2013 issue. Associate Art Director Jason Morton To paint this portrait, Florida ADMINISTRATION Business Manager Barbara Goodman Trend editors looked behind the Accounting David A. Dale scenes to report on what makes Staff Accountant Jenny Shea Florida’s largest inland city so CIRCULATION Director of Audience Development Karen Tyson dynamic. From the key business Print & Fulfillment Supervisor Connie Greenblatt assets that drive Orlando’s econo- Customer Relations Marsha Almodovar my — health care, education, re- Florida Trend continues its BUSINESS DEVELOPMENT Associate Publisher Janice G. Sharp search and high-tech simulation, series of Community and Business Marketing & Special Projects Coordinator manufacturing and a military Portraits on cities and counties Leslie Vasbinder component — to key demograph- around the state in coming edi- Creative/Graphic Designer Anne Meyer PRODUCTION ics, top leaders and quality of life, tions. 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Phone: 800/829-9103 (9 a.m. to 5 p.m. EST) Reproduction in whole or in part without written permission of the Fax: 727/822-5083 publisher is prohibited. FLORIDA TREND accepts no responsibility for unsolicited manuscripts, photographs, artwork or résumé material. E-mail: [email protected] Subscriber Services online at www.floridatrend.com/customerservice, or call 1-800-829-9103. Address Change: Send address with mailing ADVERTISING label from past issue to Florida Trend, P.O. Box 16238, North Hollywood, CA 91615. Allow six weeks. www.FloridaTrend.com/MediaKit Phone: 727/821-5800 Member: BPA Worldwide, Alliance of Area Business E-mail: [email protected] Publications, Florida Magazine Association FLORIDATREND.COM MAY 2013 3 ( Business Portrait ) Orlando / Orange County 4 MAY 2013 FLORIDATREND.COM The broad outlines of Orlando’s economy are Orlando’s other arm, still developing but now well-defined. One strong arm, of course, is increasingly muscular, is an amalgam of the area’s tourism industry, a global powerhouse health care, education, research and high-tech with the nation’s biggest hotel market and second- simulation and manufacturing, including a largest convention center. At a given moment, military component. Along with the University more than 1 million people in Orange County are of Central Florida, the state’s largest, Orange visitors from someplace else. The equivalent of County boasts two world-class research centers: the U.S. population passes through the area every The Central Florida Research Park, the world’s five years — excepting the fact that an increasing epicenter for simulation and training, with chunk of the visiting group is from abroad. The strong ties to military and medical simulation; number of international visitors to Orlando and the rapidly emerging Lake Nona/Medical increased by more than 30% between 2007 and City area, home to UCF’s new medical school, 2011, and the overall health of the industry has Nemours Children’s Hospital, the Sanford- driven multimillion-dollar expansions at the Burnham Research Institute and an under- major theme park venues and continuing hotel construction VA hospital that will be the construction. Disney, it should be noted, still VA’s most technologically advanced. Sizable occupies only 30% of its developable space. components of the non-tourism economy still FLORIDATREND.COM MAY 2013 5 ( Business Portrait: Orange County ) Orange County Demographics > White: 45.8% (57.5% statewide) > Black: 21.7% (16.5% statewide) > Hispanic: 27.5% (22.9% statewide) > Notable: Orlando’s Hispanic population tends to be Puerto Rican, while northwest Orange County has more Mexicans, who work in the Apopka area’s agricultural industries. > Notable: Orange County has almost twice as many Asian- owned businesses as the statewide average, in part because downtown Orlando has a thriving Downtown Orlando mix of Vietnamese and Chinese restaurants, grocers, shops, medical exist in relative obscurity, including a $5-bil- business leaders to get involved in civic and and professional offices. lion pharmaceutical distribution industry. philanthropic work. After some political fits A growing number of and starts, construction is under way on a The area’s economic and social infrastruc- Asians also own nurseries glitzy performing arts center that will add ture is mostly keeping pace. Orlando Inter- and greenhouses for critical mass to downtown, which already national Airport is supporting both tourism commercial tropical plant includes the state-of-the-art Amway Center, and non-tourism, domestic and international production in northwest a planned renovation of the Citrus Bowl and travel, with 10% of its passengers interna- Orange County. several large apartment projects that will tional. The SunRail metro system, now under further boost the urban population. > Commute times: 26.3 construction, could help create a web linking minutes (25.7 statewide) downtown, the airport and a proposed private Orlando has plenty of challenges, company rail line to south Florida and Miami. including the short-term threat posed by > Homeownership: 59.6% (69% statewide) The area’s human capital, meanwhile, is potential cutbacks in military funding. The younger than the Florida average and prob- area’s road system is growing, but traffic is > Median household ably the state’s most tech-friendly. Local still a big problem and likely will remain so. income: $49,731 boosters say the county has higher-than- Longer-term, the biggest challenge will likely ($47,827 statewide) average smartphone-adoption rates and a be the potential social chasm that could > Retail sales per capita: higher “preference for technology.” They’d open between the 27% of area residents who $18,005 like to see Orange County become a center are Hispanic and the more-affluent Anglo ($14,353 statewide) for electric car infrastructure. Cisco and GE population. Two-thirds