City Venues The Economic Engine to Create Jobs – The City of Orlando is the world’s leading tourist destination with more than 55 million people visiting our region each year. Our theme parks, the variety of restaurants and hotels, make the region an ideal destination for an enjoyable and unforgettable family vacation.
Beyond being a well-known worldwide tourist destination, the city of Orlando is one of the world’s fastest-growing cities with a great location that provides easy access to markets in all directions.
The city consistently ranks as a leading place to conduct business. Its strategic location, multicultural diversity, international trade opportunities and having the 13th busiest airport in the U.S. with flight connections all over the world, makes the city a prosperous and attractive place to develop businesses, build corporate partnerships, host conventions and make investments that diversify the economy and create jobs.
Through partnership with other local governments and the private sector, the city of Orlando has been able to build large infrastructure projects that are strengthening our economy beyond its base of tourism and creating the industries and jobs of the future, while providing the construction jobs for our residents today.
The Amway Center, Medical city, Creative village, The Dr. Phillips center for the Performing arts, Sunrail and the renovations of citrus bowl, are projects invigorating the local construction industry by creating new jobs and stimulating the economy. according to a data from the research and analytics unit of Mcgraw-hill construction, Florida is the only southeast state in which the pace of new contracts appears to be picking up significantly, with a construction contract investment which increased from $2.6B in 2011 to $3.5B in 2012.
According to an economic-impact analysis conducted by an independent consulting firm, the Medical city at Lake Nona, the international hub for health and biotech services, will generate 30,000 jobs, create annual tax revenues of $460 million and have a regional impact of $7.6 billion over 30 years.
Sunrail, Central Florida’s first commuter rail line, will run along a 61-mile stretch of existing rail freight tracks in Orange, Seminole, Volusia and Osceola counties. Sunrail will create 250,000 construction related jobs with an income of $8.8 billion impact over the next 30 years.
Also, the initial stage construction of The Dr. Phillips center for the Performing arts will create approximately 3,000 new jobs, and by the time stage two is done, there will be more than 4,000 new jobs with an estimated economic impact of $315 million. This modern center will provide a unique, world-class destination to showcase and support the performing arts.
The renovations of the citrus bowl expected to start in early 2014, will create up to 1,750 construction jobs. These renovations will help us to continue hosting college bowl games that have generated a $320 million local economic impact during the past four years, boosting business at area hotels, bars, restaurants, theme parks and more.
This is an important milestone for our community as it ensures we don’t lose our bowl games and the tens of millions of dollars they bring. additionally, this will allow for more neutral site football games, international soccer games, Wrestle Mania, Monster Truck and Motocross events and more to return to the Florida citrus bowl.
The creative village will be another economic engine for our city and it’s going to be built in a 50-acre site where the Amway arena was located. This innovated community builds on the success of Orlando’s digital media industry by transforming the former site of the Amway arena in downtown Orlando into a 68-acre mixed-use, transit-oriented, urban infill neighborhood that will be home to leading higher education providers; high-tech, digital media and creative companies; and a diverse mix of students, employees and residents. Creative village fosters a “live, work, learn and play” lifestyle in the heart of downtown orlando while bringing exciting opportunities to the Parramore area.
The job creation study for the creative village estimates there will be 6,500 jobs created in the local economy over the construction period. At build out, there will be close to 5,000 permanent jobs, with more than 8,000 total jobs in the local economy related to the creative village.
Orlando has a bright economic future ahead. From lake nona’s Medical city to our downtown resurgence and the creative village with UCF’s Center for emerging Media, the Florida interactive entertainment academy and house of Moves, Orlando will continue to diversify its economy by attracting these high- value and high-wage jobs that will drive the future of central Florida and grow the next generation economy.