southeast florida regional vision & blueprint for economic prosperity economic development...
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Southeast Florida Regional Vision & Blueprint for Economic Prosperity
Economic Development Briefing
John KaliskiCambridge Systematics, Inc.
February 15, 2012
2
Presentation Outline
Current realities
Global trends
Opportunities and challenges for Southeast Florida
How do we get started?
Source: Florida Trend.
Employment Growth Has Resumed
3
Source: U.S. Bureau of Labor Statistics, “Quarterly Census of Employment and Wages.”
Year-Over-Year Percent Change
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
SOUTHEAST FLORIDA Florida United States
Recent Growth Led by Services
Construction
Government
Manufacturing
Information
Finance
Logistics and Distribution
Retail
Professional Services
Healthcare and Education
Leisure and Hospitality
-6 -4 -2 0 2 4 6 8 10 12
Source: U.S. Bureau of Labor Statistics.
Annual Change in Jobs, 2010-2011 (Thousands)
4
Unemployment Is Easing Downward
5
Source: U.S. Bureau of Labor Statistics, “Local Area Unemployment Statistics.”
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110%
2%
4%
6%
8%
10%
12%
14%
SOUTHEAST FLORIDA Florida United States
Foreclosures Remain High
6
Source: Florida Department of Economic Opportunity, compiled from RealtyTrac, Inc. Total housing units receiving a filing notice, per month.
Jan-
2006
Jul-2
006
Jan-
2007
Jul-2
007
Jan-
2008
Jul-2
008
Jan-
2009
Jul-2
009
Jan-
2010
Jul-2
010
Jan-
2011
Jul-2
011
Dec-2
011
0
5,000
10,000
15,000
20,000
25,000
30,000
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
SOUTHEAST FLORIDA - Left Scale Florida - Right Scale
Wages Remain Below U.S. Average
7
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20090.85
0.90
0.95
1.00
1.05
SOUTHEAST FLORIDA Florida United States = 1.00
Index, U.S.=1.0
Per Capita Income Has Lost Ground
8
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20090.90
0.95
1.00
1.05
1.10
1.15
SOUTHEAST FLORIDA Florida United States = 1.00
Index, U.S.=1.0
Poverty Is Rising
9
Source: U.S. Census Bureau Small Area Income and Poverty Estimates (SAIPE).
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 20100%
2%
4%
6%
8%
10%
12%
14%
16%
18%
SOUTHEAST FLORIDA Florida United States
Share of Population Living in Poverty
Is Florida the Sunset State?
The Florida We’ve Known Is Over
10
12
A New Economy: Global Competition
Global Population Centers
Global Economic CentersSource: WhosYourCity.com.
How Do We Compete?
Florida then… Florida now…
• World-class talent
• Innovation
• Global connections
• Quality places
• Sustainable environment
• Integratedregions
• Low-cost labor
• Production
• Location and land
• Low cost of living
• Natural resources
• Individual communities
1414
Global Trade &
Logistics
Changing Industry Mix
ConstructionTourism
Agriculture
Past
Community Development
Business &Personal
Travel
Agriculture
Innovation & Technology
Future?
Financial and Professional
Services
15
Opportunity: Global Trade
16
Source: WISERTrade based on U.S. Census Bureau foreign trade data; Value of trade through the Miami Customs District.
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011$0
$20
$40
$60
$80
$100
$120
Exports Imports
Value of Exports and Imports (In Billions)
Opportunity: Tourism & Travel
17
Source: U.S. Department of Commerce, International Trade Administration.
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 20100.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
Annual Overseas Visitors to Miami (In Millions)
20
Challenge: Talent Supply
…students in a 9th grade class
2002
Source: Florida Board of Education 2011.
…graduate from high school
2005
…continue to college within two
years2007
…earn college credit within two
years2009
10…
6… 3… 2…
Population over 25...
…with less than a High School degree
…with a Bachelor’s degree, or higher
…with HS, Associate’s degree, or some college
Challenge: Workforce SkillsEducational Attainment 2006-2010
15% 59% 26%
15% 57% 28%
Southeast Florida Region
Florida
United States
Source: U.S. Census Bureau, American Community Survey 2006-2010 five-year estimates.
55% 28%17%
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How Do We Get Started?
Align state, regional, and local plans around a common framework
Create 5 year action plan pointing toward a 50-year vision
Integrate with other regions to build Florida’s megaregion
Measure and report progress
24
Alignment of State, Regional, Local Plans
Statewide Strategic Plan for Economic Development» Coordinated with 2030 Six Pillars
Plan and 2060 Statewide Vision
Regional Comprehensive Economic Development Strategy» Joint effort of
South Florida and Treasure Coast RPCs
» Input into Regional Vision and Blueprint for Economic Prosperity
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