FLORIDA EMPLOYMENT: PAST, PRESENT AND FUTUREFlorida Multifamily Summit 2014October 9, 2014

NON FULL-BLEED COVER [EXAMPLE]

Hit particularly hard by the recession, Florida is still replacing lost jobsFLORIDA EMPLOYMENT IS STILL RECOVERING

Source: CBRE Research, US Bureau of Labor Statistics, September 2014.

Employment, Indexed (100 = Pre-Recession Peak)

More jobs added than any other state except TX and CAFLORIDA HAS CREATED >600K JOBS SINCE 2009

Source: CBRE Research, US Bureau of Labor Statistics, July 2014.

Job Growth (000s) 2009-2014, Top 25 States

Miami and Orlando’s labor markets are among the fastest growing FLA. METROS SHOW STRONG JOB GROWTH

Source: CBRE Research, US Bureau of Labor Statistics, July 2014.

Job Growth (%) 2009-2014

Health care & office-using sectors also drive job growthTRADE & SERVICES LEAD FLORIDA JOB GROWTH

Source: CBRE Research, US Bureau of Labor Statistics, May 2014.

Florida Employment Growth 2010-2014 (000s of Jobs), by Industry

Health care & office-using sectors also drive job growthTRADE & SERVICES LEAD FLORIDA JOB GROWTH

Source: CBRE Research, US Bureau of Labor Statistics, May 2014.

Florida Employment Growth 2010-2014 (000s of Jobs), by Industry

The state economy has fully recovered from the recessionFLORIDA'S GDP IS AT AN ALL-TIME HIGH

Source: CBRE Research, US Bureau of Economic Analysis, July 2014.

Gross Domestic Product, Indexed (100 = Pre-Recession Peak)

Florida’s GDP grew by $79M, 2009-2013 FLORIDA’S GDP IS AMONG THE FASTEST-GROWING

Source: CBRE Research, US Bureau of Economic Analysis, July 2014.

GDP Growth (Millions of Current Dollars) 2009-2013, Top 25 States

Trade, health care and F.I.R.E. drive growth in Florida GDPGROWTH IN FLORIDA GDP, BY INDUSTRY

Source: CBRE Research, US Bureau Economic Analysis, 2014.

Change in Florida GDP (Billions of Current Dollars), by Industry

Trade, health care and F.I.R.E. drive growth in Florida GDPGROWTH IN FLORIDA GDP, BY INDUSTRY

Source: CBRE Research, US Bureau Economic Analysis, 2014.

Change in Florida GDP (Billions of Current Dollars), by Industry

Retail sales are growing faster in Florida than the U.S. overallRETAIL SALES ARE INCREASING

Source: CBRE Research, US Bureau of Economic Analysis, July 2014.

Total Value of Retail Sales, Year-Over-Year Change

Florida tourism spending has broken records 3 years straightRECORD TOURISM

Source: CBRE Research, VISIT FLORIDA Research, 2013.

Florida Tourism Spending (Billions of Current Dollars)

Multifamily permits are increasing rapidly, approaching long-term average

MULTIFAMILY CONSTRUCTION IS RISING

Source: CBRE Research, Zillow, July 2014.

Multifamily Units Permitted in Florida

Florida is the 3rd-fastest-growing state in the U.S.RAPIDLY-GROWING POPULATION

Source: CBRE Research, U.S. Census Bureau, March 2014. Source: CBRE Research, U.S. Census Bureau, May 2014.

Avg. Annual Population Change (000s of People), 2010-2013

SENIORS WILL DRIVE POPULATION GROWTH

Source: CBRE Research, Florida Bureau of Economic and Business Research, 2013.

Florida Population by Age Group

AGING BABY BOOMERS WILL DRIVE GROWTH IN FLORIDA'S SENIOR POPULATION

Source: CBRE Research, Florida Bureau of Economic and Business Research, 2013.

Florida’s Senior Population (65+), 2010-2030

SPENDING HABITS: BABY BOOMERS VS. PRIOR GENERATION

Source: CBRE Research, Consumer Expenditure Survey, US Bureau of Labor Statistics, 2010.

Inflation-Adjusted Spending by 45- to 64-Year-Olds, 2010 vs. 1990

GROWTH IN SENIOR SPENDING THROUGH 2030

Source: CBRE Research, US Bureau of Labor Statistics’ Consumer Expenditure Survey and Consumer Price Index, July, 2014.

Change in Total Spending by Florida Seniors (65+), Inflation Adjusted, 2030 vs. 2012*

ALL ABOARD FLORIDA

ALL ABOARD FLORIDA

Jobs (avg. per year):

2014-2016: 10,000+

2017-2021: 3,500+

After 2021: 2,200+

ALL ABOARD FLORIDA

JOBS(Including Direct, Indirect and Induced)

Source: CBRE Research; Washington Economics Group, Inc.; May 20, 2014.

SUNRAIL

Phase II: 2014-2016

New permanent TOD-related jobs within ½ mile of stations:

Deland 4,000 jobs Meadow Woods 3,600 jobs

Osceola Parkway 775 jobsKissimmee 990 jobsPoinciana 2,650 jobs

Total 12,015 jobs

SUNRAIL

PORTMIAMI

PORTMIAMITunnel & Deep Dredge

33,000 new jobs (direct and indirect)

207,000 jobs already supported in the region

PORT EVERGLADES

PORT EVERGLADES

Southport Turning Notch

2,200+ construction jobs

5,500+ new permanent jobs (direct and indirect)

PORT TAMPA BAY

PORT TAMPA BAY

Container Terminal Expansion

525+ construction jobs

Up to 1,400 new permanent jobs

2,500 existing jobs retained

CENTRAL FLORIDA INTER-MODAL LOGISTICSCENTER

8,500 jobs after10 years:

2,000 jobs at the Park

6,500 jobs outside the Park

CENTRAL FLORIDA INTER-MODAL LOGISTICSCENTER

TAMPA INTERNATIONAL AIRPORT

TAMPA INTERNATIONAL AIRPORT

20-Year Capital Improvement Plan

Phase I: 9,000+ jobsConsolidate rental car facility

Install automated people mover

Phase II: 4,000+ jobsReplace control tower

Replace hotel

Phase III: 13,000+ jobsExpand main terminal

Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.

MIAMIWORLDCENTER

Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.

MIAMIWORLDCENTER

Phase I: The Mall at Miami Worldcenter

2014 – 2016

19,500 construction and temporary jobs

10,000 direct + 9,500 indirect jobs

14,000 permanent jobs8,000 direct + 6,000 indirect jobs

Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.

BRICKELL CITY CENTER

(2012-2015)

Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.

BRICKELL CITY CENTER

2012-2015

1,700 construction jobs970 direct + 730 indirect jobs

6,200 permanent jobs3,700 direct + 2,500 indirect jobs

Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.

DAYTONA RISING/ONE DAYTONA

Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.

Daytona Rising: 2013-20166,300 construction jobs

One Daytona Phase I: 2015-20174,738 construction jobs

4,348 permanent jobs

One Daytona Buildout: 2017-2037+14,158 construction jobs

14,824 permanent jobs

DAYTONA RISING/ONE DAYTONA

CORPORATE EXPANSIONS OF 1,000+ JOBS

2,200 jobs in St. Augustine and Melbourne by 2020

1,500 jobs in Pensacola by 2016

2,200 jobs in St. Augustine and Melbourne by 2020

1,500 jobs in Pensacola by 2016

1,100 jobs in Lake Mary by 2016

1,000 jobs in Lake Mary by 2019

2,200 jobs in St. Augustine and Melbourne by 2020

1,500 jobs in Pensacola by 2016

1,000 jobs in Tampa by 2018

1,215 jobs in Tampa by 2019

1,100 jobs in Lake Mary by 2016

1,000 jobs in Lake Mary by 2019

2,200 jobs in St. Augustine and Melbourne by 2020

1,500 jobs in Pensacola by 2016

1,000 jobs in Tampa by 2018

1,215 jobs in Tampa by 2019

1,500 jobs in Tampa and Lakeland by 2015

1,100 jobs in Lake Mary by 2016

1,000 jobs in Lake Mary by 2019

2,200 jobs in St. Augustine and Melbourne by 2020

THANK YOU!