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Partners We Work With

Economic Gardening

Florida’s Research Coast Objectives

• Brand the Region• Market Collaboratively• Share resources to avoid duplication• Work collaboratively rather than competitively• Create regional networking opportunities• Connect local companies• Increase the competitiveness of the region

Economic Gardening

Research Entities

Torrey Pines Institute for Molecular Studies – Port St. LucieVGTI – Port St. LucieMann Research Center – Port St. LucieMartin Memorial Health Systems – Stuart, Port St. LucieFAU Harbor Branch – Ft. PierceSmithsonian Marine Station – Ft. PierceUSDA – Ft. PierceOcean Research Conservation Association – St. LucieDigital Domain Media – Port St. LucieSyngenta – Vero BeachLS 9 – OkeechobeeINEOS New Planet Bio Energy – Vero Beach Remetronix – Port St. LucieUCT Coatings – StuartMagna Bon – Okeechobee A success in any locality is a success for the entire region

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Successes in each locality

Indian River County• Expansions : SpectorSoft, eMindful• New Business: OcuCue, INEOS New Planet Energy, SMI Technology

AlgaGen, NetBoss Technologies   • Retention: Piper AircraftMartin County• Governor’s Business Diversification Award winners: Optima Healthcare,   

Florida RF Labs, TurboCombustor, Keller Medical, Southeastern Printing• New Business: Extreme Speed Motorsports, American Energy Innovations• Expansions: Vought, Liberator Medical, Coaxicom, Old Cell Phone,  STS Solutions, GiftRAP          

Software, UCT Coatings, Bonadeo Boats, Sheet Metal Unlimited, H2 OceanOkeechobee County• Business Development Board of Okeechobee launched & new Chamber of Commerce created• Relocation: LS9, Applied Biotechnologies Water Treatment• New Business: B & D Biomedical, Ag Spectrum, Shoppes on the Boardwalk• Expansions: Sun Treasure PackingSt. Lucie County• Governor’s Business Diversification Award winner:  Liberty Medical• HQ: Torrey Pines, Mann Research Center• Relocations: VGTI, Digital Domain, HealthChem, Silver Line Plastics• Expansions: Liberty Medical, Maverick Boats, Twin Vee Catamarans, Oxford Management• MOUs with Oak Ridge National Lab and General Electric

A success in any locality is a success for the entire region

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Florida’s Research Coast

Research Coast Economic Drivers

Creating & Sustaining a vibrant business climateManageable GrowthCompetitive Business CultureMulti‐modal InfrastructureResearch & DevelopmentEntrepreneurial SystemsWorld‐Class Talent

Targeted Industry Cluster Growth

Energy & EnvironmentInformation TechnologyLife Sciences & Research CentersManufacturing

High‐skill, High‐wage Jobs6

Economic Gardening

DISCUSSION

Overview

Economic Gardening

Assets & Resources

Program Elements

Business Assistance

What is Economic Gardening?“Economic Gardening is not the standard business assistance program. Economic Gardening is about the eco-system of second stage entrepreneurial growth businesses.”

Chris Gibbons Co-Founder Economic

Gardening

“Economic Gardening helps establish an entrepreneurial culture within communities and sets itself apart from other economic development strategies by its target audience, tools, and timing of services.”

Edward Lowe Foundation

“Economic Gardening is not the standard business assistance program. Economic Gardening is about the eco-system of second stage entrepreneurial growth businesses.”

Chris Gibbons Co-Founder Economic

Gardening

“Economic Gardening helps establish an entrepreneurial culture within communities and sets itself apart from other economic development strategies by its target audience, tools, and timing of services.”

Edward Lowe Foundation

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Economic Gardening

Why Second Stage Companies?

Second stage companies represent 8% of Florida establishments and generate 36% of jobs

Data source: Edward Lowe Foundation, www.youreconomy.org

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Economic Gardening

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The Million Dollar QuestionHow do we grow the local economy?

Balance/Blend of Economic Development

DISCUSSION

Overview

Small Business Economy

Economic Gardening

Best Practices

Business Assistance

Traditional economic development strategies: recruitment, retention, expansion

Incentives, tax breaks, capital investment

Highly competitive

Support local entrepreneurship – small and medium sized businesses (SMBs)

Businesses that already exist in a community

Economic Gardening

Economic Gardening Engagements

• Employed Worker Training (EWT)• On The Job Training (OJT)• Incumbent Worker Training (IWT)• Introductions to local companies• Through Economic Developers• Through Workforce Business Services Consultants• Through Chambers of Commerce• Through Business Owners• Networking throughout the region• Industry organizations (Banks, Lawyers, Accountants, Insurance)• GrowFL prospect lists• Local media

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Economic Gardening

What do Entrepreneurs Need?• Access to financing• Local support for entrepreneurs• Mentors• Basic infrastructure• Livable communities• Skilled workforce• Networking opportunities• Market, industry & competitor information• Access to markets• Training in all aspects of business• No wrong door

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DISCUSSION

Overview

Small Business Economy

Economic Gardening

Best Practices

Business Assistance

Economic Gardening

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Economic Gardening

How We Leverage EMSI

Economic Impact StudiesHigh Performance Computing Center in JupiterBusiness Incubator in Ft. Pierce

Career Pathways in specific industriesWhich careers are growing, declining (digital media, biotech, research)

Economic Indicators for emerging industries, declining industriesHealthcare, IT, Clean Technology, EnergyLong haul trucking, construction 

Corporate relocations & expansions Pest Control Co., Electronic Records Co., Bio Diesel FirmLabor market information, career cluster summary’s 

Collaborating with regional partnersOne more tool in the tool box 

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Florida’s Research Coast

How We Leverage EMSI – Reports

Staffing Patterns – Martin CountyLabor Profile – St. Lucie CountyOccupation Report – Aegis – Port St. LucieHighest Ranked Occupations – Indian River CountyHigh Performance Computer Consortium – JupiterDemographic Report – OkeechobeeBusiness Incubator Demographics – Ft. PierceInverse Staffing Patterns – RegionLabor New Occupations – Indian River County Human Capital – RegionEconomic Impact ‐ Region

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Florida’s Research Coast

Case Study  

• Worldwide Customer Call Center  • Expanding Company • New Health Care Client• Hiring 400 new employees• Requested EMSI Human Capital Report• Skills summary• Wages & Benefits• Career Pathways• Status – ongoing engagement

Economic Gardening

Case Study  • High Performance Computing Consortium (HPCC)• State University with 8 campuses  • Large research institute • Partners: Scripps, Torrey Pines, Max Planck, VGTI, IBM, FPL• Project Cost: $25 Million one‐time cost • Conducted EMSI Economic Impact Study• Impact: R&D, Commercialization Life Sciences, IT, Healthcare• Workforce impact: Emergence of high‐tech & research workers• Economic Development: Resource for 20 start up biotech & IT• ROI: 5X, new jobs, research partnerships, new companies

Economic Gardening

Case Study  • Jobs & Innovation Accelerator Challenge Grant• Partner: Regional college with 5 campuses  • Large training institution • Grant Funding agencies: EDA, SBA, ETA• Focus: The Advancement of Regional Innovation Cluster (TARIC)• Grant Application: $1.9 Million  • Conducted EMSI Economic Indicator & Impact Study• Impact: Accelerate high‐growth new & existing businesses• Workforce impact: Creation & retention high‐wage jobs• Economic Development: Enhance SMBs in cluster• Demonstrate collaborative cluster‐based regional development• ROI: new businesses, jobs, exports, technologies, processes

Economic Gardening

Case Study  • Architectural & Construction Management• Expansion Mode• Specific Engineering Positions• Requested EMSI Occupation Profile• Salary and Wage Ranges• Knowledge Areas  • Available Training in Region • Skills & Abilities Required• Workforce impact: Creation & retention high‐wage jobs• Status: Ongoing engagement

Economic Gardening

Economic Impact Report  • Operations effect of Workforce Solutions• Measure Economic Benefits – Direct/Indirect• Adult/Dislocated Worker

– Served 5,938 people – Placed 827 adults – 395 dislocated in jobs 

• Generates $28.8M for regional economy • Served 899 youth • Youth job placements yield $3.1M impact• Benefit/Cost Assessment• Adult ‐ Cumulative value of $16 for every dollar WFS received• Dislocated Worker ‐ $20.50 for every dollar • Youth ‐ $3.36 for every dollar• Combined: Adult, Dislocated, Youth yields $14.90 for every dollar 

Economic Gardening

Florida’s Research Coast Broadband InitiativeOpportunity For Job Creation, Economic Development, 

And A More Sustainable Community  

Network Infrastructure

Economic Gardening

Florida’s Research Coast Opportunity ‐21st Century Global Information Highway

Economic Gardening

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