Polk County Snapshot

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Snapshot
Industrial development driving prosperity in a market
where the pipeline has only grown
Source: JLL Research, Oxford Economics
Jacob Attaway | Jacob.Attaway@am.jll.com
• Industrial occupations account for about 15% of total employment at 34,786 jobs across sectors such as
manufacturing, utilities, transportation and warehousing in the Winter Haven-Lakeland MSA area. Therefore, it is
no wonder that wage and industrial inventory growth share staggering similarities across the last 18 years and into
the future. With a 0.99 positive correlation coefficient between these two metrics, the relationship is undeniable.
• With this in mind, the 2.5 million square feet slated to deliver by Wharton, Brennan, Transwestern and others over
the next two years should serve as an encouraging signal that wages will continue to climb.
• Over the same 20 year period, total real GDP will grow by 37.7 percent , total population will grow by 50.2 percent
and jobs in industrial sectors will grow by 18.0 percent.
• Amazon’s new $100.0 million Air Cargo facility at Lakeland Linder International Airport is, on its own, expected to
bring 800 to 1,000 jobs to the area starting July, 2020.
November 7th, 2019
Polk County
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
45,000,000
50,000,000
55,000,000
60,000,000
65,000,000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
$200.00
$300.00
$400.00
$500.00
$600.00
$700.00
$800.00
$900.00
$1,000.00
Industrial Inventory
Weekly Wages
Forecasted