I
really don’t see to say more. Read on.
The
Economic Development Council
of
Okaloosa County, Florida
Kay
Rasmussen kayr@florida-edc.org
VP
Community & Economic Development www.florida-edc.org
January
2012
1
Okaloosa
County 2011 Economic Position
With
a population of 180,822, and housing the largest military installation in the
United States,
Okaloosa
County’s primary economic generator is the military; #2 is tourism supported by
our
sugar-white
beaches and endless water-sports activities. These two industry sectors are
supported
by a strong service sector infiltrated by the technology-based industries.
Okaloosa’s
population
is projected to top 198,000 by 2015.
Military
Impact
Joint
Strike Fighter Initial Training Center
59 F-35
Aircraft
· $375
Million in MILCON
· 1,563
Personnel
o 1,716
dependents
· $2.1
Billion total 2010-2016
· $593
Million sustained in 2016 and beyond
· First
Plane: 2011
· Last
Plane: 2016
JSF
Economic Impact
Cumulative Impact
(2010 – 2016) 59 Aircraft
Gross Regional
Product (Millions $) $1,668.9
Associated Population
4,432
Associated Employment
4,104
Year 2016 Impact and
Beyond
Gross Regional
Product (Millions $) $399.4
Associated Population
225
Associated Employment
11
7th Special
Forces Group (Airborne)
2011
Beddown
· $332
Million MILCON
· ~2,200
Personnel
o ~3,867
dependents
· First
Battalion Arrives April 2011
· Last
Battalion Arrives September 2011
7SFG(A)
Annual Economic Impact
· 2011:
$506,300,000
· 2016:
$566,300,000
Okaloosa
County and its neighboring counties offer a desirable workforce supplemented by
the
retiring
and otherwise separating military personnel that have chosen to stay in the
area.
Okaloosa County
Veterans and Total Population Comparison
Veteran
Population
Total
Population
Veteran % of
Population
2007 34,470
184,250 18.7%
2014 32,469
193,804 16.8%
2019 30,330
202,501 15.0%
Source:
UWF Haas Center, EDC Retired and Separated Targeted Transition Study, 2009
County
Veterans Retirees Annual
Santa
Rosa 21,642 5,843 645
Okaloosa
34,634 10,401 2,711
Walton
6,415 1,694 34
Total
62,691 17,938 3,390
Source:
Dr. Rod Lewis, UWF Haas Center 2010
Okaloosa
County 2011 Defense Impact
Defense
Spending ($Millions)
Procurement $ 1,431.0
Salaries 677.3
Pensions & Transfers
645.7
Total Defense Spending $
2,754.0
Average Earnings Per
Military Job $87,300
County Economic Impact1 $
5.2 Billion
Employment 58,811 Jobs
Sales Activity $ 4.0
Billion
Consumption $ 3.3
Billion
Capital Investment $
495.1 Million
Source:
UWF Haas Center January 2011
Eglin AFB
Active
Duty Military 9,283
Civilians
5,710
Hurlburt
Field
Active
Duty Military 8,000
Civilians
700
Northwest
Florida Defense Impactlions)
Procurement $ 2.4
Salaries 1.7
Pensions & Transfers
2.1
Total Defense Spending $
6.2
Average Earnings Per
Military Job $83,168
Regional Economic Impact1
$ 14.3 Billion
Employment 178,758 Jobs
Sales Activity $ 12.8
Billion
Consumption $ 10.7
Billion
Capital Investment $ 1.9
Billion
Source:
UWF Haas Center January 2011
Tourism
Florida
received 82.3 Million visitors in 2010 with 10% of those visiting Northwest
Florida's
Emerald
Coast. Okaloosa County is in the Top-Five destinations for auto visitors; we
are a
drive-to
community.
Technology-Based
Industry Sector
In
August 2011, Forbes Magazine ranked Okaloosa County, the Fort Walton
Beach-Crestview-
Destin
Metropolitan Statistical Area, in America’s Top-Twenty “Geekiest” Cities. The
current
definition
of “geek” is any worker with a bachelor’s level of knowledge and education in
science
or
engineering-related fields or workers in occupations that require some degree
of technical
knowledge
or training. The Science and Engineering Indicators utilized by Forbes, ranked
the
top
20 cities in the United States by the percentage of workers with jobs in
science, technology,
engineering
and mathematics; the STEM industries.
Okaloosa
County is the technology hub in Northwest Florida with over 275
technology-based
companies
in centralized areas of Crestview and Fort Walton Beach; and growing! The
highgrowth,
high-wage
STEM industries are targeted for Okaloosa’s growth and recruitment. These
high-growth,
high-wage industry sectors for the next five years include manufacturing,
information
technology, professional business services, medical sciences, and financial
based
industries.Despite
the national economic condition and the 2010 Deepwater Horizon disaster,
Okaloosa
County,
located on the eastern Gulf of Mexico, has experienced significant growth in
its existing
technology-based
industries, as well as the recruitment of new companies into the area. In the
last
year, Okaloosa has incurred new job growth of over 500 with a retainment of
almost an
equal
amount providing a median wage of $53,000.
On
the horizon is a planned research and development center outside Eglin’s West
gate which
will
garner thousands of new jobs in a professional mixed-use development servicing
hightechnology
commercialization.
The ripple effect that will result from this development will
include
service and supply industries contributing to the STEM clusters within Okaloosa
County.
Future 100 acre
Emerald Coast Technology & Research Center to be built in Shalimar, Florida
adjacent to the
University of Florida Research and Engineering Education Facility.
Adjacent
to this research center is a planned autonomous vehicle research, development
and
testing
facility. This innovative collaboration will sustain hundreds of jobs and
facilitate
multiple
spin-off industries; both horizontally and vertically.
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