Prepared by:Prepared by:Barbara MorejonBarbara MorejonSusan Watkins Susan Watkins

Bryan MerrillBryan MerrillIDS 3920IDS 3920

Professor: Nora E. DemersProfessor: Nora E. DemersJuly 10th, 2007July 10th, 2007

SOUTHWEST FLORIDA SOUTHWEST FLORIDA ECONOMYECONOMY

Economic DevelopmentEconomic DevelopmentSouthwest Florida has been one of the fastest growing Southwest Florida has been one of the fastest growing areas in the country for over 20 years. Below is a table areas in the country for over 20 years. Below is a table of the permits awarded in Collier County in 2000, 2006, of the permits awarded in Collier County in 2000, 2006,

and 2007.and 2007.

Item Annual 2000 Annual 2006 May 2007

Single Family 3,562 2,646 511

Two Family 62 16 6

Three and Four Family

698 908 151

Five and More Family

2,871 987 455

Total 7,193 4,556 1,123

U.S. Bureau of Census

Economic DevelopmentEconomic Development

• The population of Lee County has continued to skyrocket over the last 17 years. Since 1990, the population for the county has grown from 205,226 to 572,344. This means the region has grown by 59% over the last 17 years.

Source: “E Florida.” Retrieved on June 29, 2007, from http://www.enterpriceflorida.com

Economic DevelopmentEconomic DevelopmentPicture of the downtown Fort Myers area approximately 15 Picture of the downtown Fort Myers area approximately 15

years ago.years ago.

Residential DevelopmentResidential Development• In Fort Myers, the entire downtown and

waterfront district has undergone a renovation.

• “Several downtown buildings recently were renovated into apartments, including a 35-room hotel that was renovated into a 16-unit apartment building. An average 1,200-square foot apartment goes for a monthly rent of $800.”

• Source: James Peters. Nation's Restaurant News. New York: Jan 2001. Vol.35, Iss. 5;  p. 66, 2 pgs

Job OpportunitiesJob Opportunities

• Gulf Coast Town Center & Coconut Point Mall:– The opening of these two malls signifies a

change in age bracket of people relocating to the area. SW Florida is becoming younger and more diversified.

– The proximity of these new malls to FGCU generates a large source of new employment for the students of the university.

Financing New Financing New Development ProjectsDevelopment Projects

• It is essential that new projects and development ideas are generated and infused into the area. In order for this to continue, business leaders must have the vision to see into the future and take some slight financial risks to ensure the continued growth of Southwest Florida.

Economic Development in Economic Development in Cape CoralCape Coral

Economic Development Video - Cape Coral, Florida

Source: (2005). Google. Retrieved July 4, 2007, from Economic Development –

CapeCoral Florida Web site: http:// video.google.com/

videoplay?docid=7393790631042209548&q=florida+economy&total=

160&start=0&num=10&so= 0&type=search&plindex=0

•In 2005, 60% of employers were hiring in the Fort Myers and Naples area, this number has dropped 32% in the last year.

• Unemployment rates in our area1. Collier County: 3.7% to 3.0%2. Charlotte County: 3.7% to 3.4%3. Lee County: 3.5% to 4.1%

UnemploymentUnemployment

Source: Housing Market Cools: Southwest Florida Economic Outlook Dimming, But Not Dire. (2006). Retrieved on July 5, 2007, from Florida Home Loan Web site: http://www. floridahomeloan.com/ 2206/09/as-housing-market-cools-southwest.html

Unemployment Unemployment

Source: “E Florida.” Retrieved on June 29, 2007, from http://www.enterpriceflorida.com

Major Private Sector Major Private Sector EmployersEmployers

Year Lee Collier Charlotte Hendry Glades Florida

2002 $31,130 $42,102 $25,489 $19,809 $29,709 $29,709

2003 $31,629 $41,926 $25,527 $19,332 $16,736 $30,128

2004 $33,073 $42,846 $25,003 $20,093 $17,434 $31,469

Per Capita Per Capita Personal IncomePersonal Income

Source: “E Florida.” Retrieved on June 29, 2007, from http://www.enterpriceflorida.com

Poverty EstimatesPoverty EstimatesYear Lee Collier Charlotte Hendry Glades Florida

1989 9.0% 9.8% 6.7% 19.4% 16.3% 12.9%

1995 11.6% 12.0% 9.7% 23.9% 17.2% 15.2%

2000 9.4% 8.9% 9.0% 19.5% 15.5% 11.7%

2001 10.3% 9.7% 10.2% 20.1% 17.0% 12.6%

2002 10.1% 9.6% 10.1% 18.7% 15.5% 12.8%

2003

2004

1o.2%

8.9%

9.6%

8.8%

9.3%

8.1%

18.1%

16.7%

13.2%

12,.1%

13.00%

11.9%

Source: Small Area Income & Poverty Estimates. (2006). In U.S. Census Bureau [Web]. Retrieved on July 6, 2007, from http://www.census.gov/cgi-bin/saipe/saipe/cgi

ManagementManagementManagement focuses on the entire organization in both the short and long term perspectives. Management is a must in every business, because it is what forms the strategic vision, sets the objectives, and implements and executes the strategy of the business.

TourismTourism• Tourism drives economic development.• Coastal counties, such as Lee, Collier, and

Charlotte generally have better economies than non-coastal counties.

• In 2003, 1.3 million tourists spent $593 million in Collier County, resulting in an economic impact of $885 million.

• The tourism industry provides over 25,000 jobs in Collier County.

Source: Tourism Works for Collier County. (2003). Retrieved June 28, 2007, from Tourist Development Council Web site: http://www.colliergov.net/Index.aspx?page=843

Environmental Issues and Environmental Issues and the Economythe Economy

The following issues may reduce tourism:

• Pollution in the Caloosahatchee River– Algal blooms are destroying commercial seafood

species.– Lawn fertilizers and polluted water from Lake

Okeechobee are being released into the river.

• Florida Red Tide– Toxins kill thousands of fish.– Airborne neurotoxin causes respiratory problems.

Sources: 2006 Most Endangered River #7-Caloosahatchee River. Retrieved July 7, 2007, from Caloosahatchee River Citizens Association Web site: http://crca.caloosahatchee.org/ crca_docs/Fast_Facts.htm Daley, B (2005). Red Tide Toxins Hit Florida Beachgoers in Lungs.Retrieved July 6, 2007, from Rense.com Web site: http://www.rense.com/general63/ redtide.htm

Property Tax RevenuesProperty Tax Revenues• Higher property values have resulted in

higher property tax revenues over the last few years.

• These revenues further stimulate economic development by “paying for schools, roads, police, and other services.”

• Higher property tax bills could result in less spending, which could hurt the Southwest Florida economy.

Source: Cauchon, D. (2007). Property Taxes Up as House Prices Fall. USA Today, Retrieved June 27, 2007, from http://www.usatoday.com/money/economy/housing/2007-04-24-property-tax_N.htm

Effects of DevelopmentEffects of DevelopmentPollution

• Fuel combustion in stationary sources, such as coal-burning power plants, and transportation are the main two sources of pollution in urban areas.

• Air pollution damages crop plants and trees by breaking down waxy coating that prevents excessive water loss and protects from diseases, pests, frost, etc.

• Deforestation and the burning of fossil fuels produce CO2, which is responsible of 57% of the Global Warming Trend.

Source: Socha, T (2007). Air Pollution Causes and Effects. Retrieved June 29, 2007, Web site: http://healthandenergy.com/air_pollution_causes.htm

Effects of DevelopmentEffects of DevelopmentDeforestation

• Change in climate– Rain is absorbed into ground.– Climate becomes drier over

time.– Carbon dioxide build-up

contributes to Greenhouse Effect.

• Soil erosion– Rain pounds down on soil

instead of on trees.

Source: Wicker, C. (2003). Climate. Retrieved June 28, 2007, from Weather Wiz Kids Web site: http://www.weatherwizkids.com/climate.htm

Effects of DevelopmentEffects of DevelopmentImpact on Wildlife

• Deforestation removes trees that are home to many different species of animals.

• Animals are “forced to undergo significant changes to survive and adapt.”

Source: Deforestation Means Animals Disappear. (2003). Retrieved

July 3, 2007, from About.com Web site: http://animals.about.com/b/a/2003_08_18.htm

SustainabilitySustainability• Sustainability requires that humans only use up

resources at a rate that they can be replenished naturally.

• Economic development has a “critical impact on the sustainability of urban areas.”

• With Southwest Florida’s rapid growth, it will be a great challenge to promote sustainable development.

Sources: Roseland, M., & Soots, L. (2007). State of the World 2007: Our Urban Future.Washington, DC: Worldwatch Institute. Sustainable Development. (2007). In Wikipedia [Web]. Retrieved June 28, 2007, from http://en.wikipedia.org/wiki/Wikipedia:Community_Portal

ReferencesReferences1. “Building Permits.” In U.S Census Bureau [Web]. Retrieved on June 29, 2007,

from http://censats.census.gov/cgi-bin/bldgprmt/bldgprmt/pl. 2. Cauchon, D. (2007). Property Taxes Up as House Prices Fall. USA Today, Retrieved

June 27, 2007, from http://www.usatoday.com/money/economy/housing/2007- 04-24-property-tax_N.htm3. Daley, B (2005). Red Tide Toxins Hit Florida Beachgoers in Lungs. Retrieved July 6, 2007, from Rense.com Web site: http://www.rense.com/general63/redtide.htm 4. Deforestation Means Animals Disappear. (2003). Retrieved July 3, 2007, from About.com Web site: http://animals.about.com/b/a/2003_08_18.htm 5. “E Florida.” Retrieved on June 29, 2007, from http://www.enterpriceflorida.com6. Housing Market Cools: Southwest Florida Economic Outlook Dimming, But Not

Dire. (2006). Retrieved on July 5, 2007, from Florida Home Loan Web site: http://www.floridahomeloan.com/2206/09/as-housing-market-cools-

southwest.html7. Peters, J. Nation’s Restaurant News. New York: Jan 2001. Vol. 35, Iss. 5; p. 66, 2 pg8. Roseland, M., & Soots, L. (2007). State of the World 2007: Our Urban Future. Washington , DC: Worldwatch Institute. 9. Small Area Income & Poverty Estimates. (2006). In U.S. Census Bureau [Web].

Retrieved on July 6, 2007, from http://www.census.gov/cgi-bin/saipe/saipe/cgi10. Socha, T (2007). Air Pollution Causes and Effects. Retrieved June 29, 2007, Web site: http://healthandenergy.com/air_pollution_causes.htm 11. Sustainable Development. (2007). In Wikipedia [Web]. Retrieved June 28, 2007, from http://en.wikipedia.org/wiki/Wikipedia:Community_Portal 12. Tourism Works for Collier County. (2003). Retrieved June 28, 2007, from Tourist Development Council Web site: http://www.colliergov.net/Index.aspx?page=843 13. Wicker, C. (2003). Climate. Retrieved June 28, 2007, from Weather Wiz Kids Web site: http://www.weatherwizkids.com/climate.htm14. 2006 Most Endangered River #7-Caloosahatchee River. Retrieved July 7, 2007, from Caloosahatchee River Citizens Association Web site: http://crca.caloosahatchee.org/crca_docs/Fast_Facts.htm 15. (2005). Google. Retrieved July 4, 2007, from Economic Development - Cape Coral Florida Web site: http://video.google.com/videoplay?docid=7393790631042209548&q=florida+economy&total= 160&start=0&num=10&so=0&type=search&plindex=0