LCC-FinalReport (1)

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Lakeland Chamber of
Commerce
Economic Impact Study

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Table of Contents
Executive Summary........................................................................................................................ 2
Report Team.................................................................................................................................... 3
I. Case Background......................................................................................................................... 4
A. Problem Statement ................................................................................................................. 4
B. Case Study Goal..................................................................................................................... 4
C. Key personnel for the Chamber.............................................................................................. 4
D. Chamber Organizational Structure......................................................................................... 5
E. Mission of Chamber of Commerce ........................................................................................ 5
F. Mission of MBA Team........................................................................................................... 5
G. Case Study Objectives ........................................................................................................... 6
II. Historical Analysis ..................................................................................................................... 7
A. Demographic Information...................................................................................................... 7
B. Financial Statements and Financial Health -.......................................................................... 7
C. SWOT Analysis...................................................................................................................... 8
D. Business Life Cycle................................................................................................................ 9
E. Value Chain Analysis ........................................................................................................... 10
F. Chamber of Commerce Membership.................................................................................... 10
G. PartnershipsAffiliations ...................................................................................................... 11
III. Economic Impact Study of Potential Alternatives .................................................................. 13
A. Existing Economic Figures - Before Alternatives ............................................................... 13
B. Alternative 1 - Chamber Continues Normal Operations...................................................... 13
C. Alternative 2 - Chamber Constructs New Building for Headquarters ................................. 14
D. Alternative 3 - Leases Space to Incubator Tenants.............................................................. 14
IV. Conclusion.............................................................................................................................. 17
References..................................................................................................................................... 18
Appendix A - Marketing One Sheet ............................................................................................. 19
Appendix B - 2010 US Census ..................................................................................................... 20
Demographic Information......................................................................................................... 20
Appendix C - Financial Statements and Financial Health ............................................................ 22
Appendix D - Membership ........................................................................................................... 23
Appendix E - Existing Economic Figures .................................................................................... 24
Appendix F - Alternative 2: Construct New Building for Headquarters ...................................... 25
Appendix G - Alternative 2 - Construct New Building for Headquarters .................................... 26
Appendix H - Alternative 3 - Construct New Building and Lease Space to Incubator Tenants .. 27
Appendix I - Alternative 3 - Construct New Building and Lease Space to Incubator Tenants .... 28

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Executive Summary
The Lakeland Chamber of Commerce’s proposed Business Collaboration Center (BCC) is the
Chamber’s vision for a new building and a new program that will create a one-stop shop for
small businesses in the area. The new BCC building will also include new office space for the
Chamber, which has outgrown its current Lake Morton location, office space for small business
tenants, space for partners, shared services (professional mentoring; shared Wi-Fi, printers, etc.),
and seminar rooms which will provide ample space for educational events and training.
An economic impact was completed on the Chamber’s proposed new office building and BCC
using IMPLAN, an economic impact modeling software. IMPAN takes into account the
demographics of the population as well as all the factors affecting an industry within greater Polk
County, Florida. Different events can be applied to the model, such as the building of new
commercial building and the establishment of the BCC, and the software then determines how
these actions with affect and impact the overall labor employment, labor income, and total
economic output for Polk County.
The total economic impact for three different alternatives was calculated using a combination of
prior, similar research and the IMPLAN software. The three alternatives for the model were are
as follows: 1) the Chamber of Commerce taking no new action and continuing operations as is in
their existing building, 2) the Chamber of Commerce building their proposed new building for
only their own office space and no Business Collaboration Center, and 3) the Chamber of
Commerce building their proposed new building along with implementing the new BCC and
rental space for the BCC tenants.
Our findings determined that the best course of action for the Chamber of Commerce that will
produce the greatest positive economic impact on Lakeland and Polk County would be
Alternative 3 - to build the proposed new building and implement the Business Collaboration
Center (BCC). The new building, in addition to the BCC and leasing capacity, would result in a
total economic output increase of approximately $6.34 million for Lakeland and Polk County in
the year of 2017 alone. Additionally, it was discovered that small businesses that take part in a
business support center or business incubator, similar to what the Business Collaboration Center
would be, have a 58% increase in their hiring rate compared to small businesses in the same area
that acted without the support of the center. This increased hiring rate shows that the incubator
businesses grew at a faster pace, likely due to a center’s actions, which encourages the
proposition of the proposed BCC to be established in Lakeland. The research also shows that the
Chamber should look to include 10 small business tenants in the BCC as it begins, as this
scenario maximized square footage for tenant’s office space and produced the highest annual
lease revenues.

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Report Team
Rodderick Smith
Rodderick spent eight years of his professional career employed in local
government where he worked with fiscally responsible budgets and developed
publicly justifiable business cases for a variety of projects. Rodderick Smith has
also spent the majority of his life as a resident of the City of Lakeland and has a
vested interest in the local business community’s continued success.
Brian Gonzalez
As a Web Editor and Project Manager for a local health insurance provider, Brian
has a formidable background managing projects and a knack for working closely
with stakeholders. Brian also aspires to become an entrepreneur and business
owner in the near future.
Hunter Kaiser
Hunter is a Lakeland native who has spent his entire life and professional career
within Polk County. Hunter has established roots in the Lakeland business
community as an auditor, which has allowed him to work with various businesses
within Polk County. Hunter also recently participated in the LEDC Summer
Leadership Program this past June.
Henry Garcia
Henry brings over 16 years of experience in sales and marketing. In those roles, he
has leveraged his expertise analyzing data and formulating business plans in order
to deliver effective messaging and guidance to clients. He is accustomed to
working with large and diverse groups for the purpose of creating and
consolidating ideas into one coherent and realistic vision.
Preston Shelburne
Preston Shelburne brings a unique combination of a quantitative accounting
background and a local community focused, “boots-on-the-ground” experience of a
Property Manager based in the city of Lakeland. As an employee, inhabitant, and
prospective leader, Preston has a communal desire to support the Chamber’s
mission.
On behalf of:

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I. Case Background
A. Problem Statement
The Lakeland Chamber of Commerce (LCC) is looking to solicit investors for funds to break
ground on a multi-tenant office building for the incubation of small businesses in the local
market. Before this process can begin, the LCC wants to generate a report, as a basis of their
proposal, to demonstrate the historical influence the LCC has had on the surrounding area, as
well as the potential impact their proposed building could have on the Polk County economy.
B. Case Study Goal
The goal of this case study is to create an economic impact study for the proposed Business
Collaboration Center for Lakeland Chamber of Commerce, using the available data and
resources. The study will then evaluate the potential output of the proposed alternatives, and will
then determine which proposed alternative will produce the greatest overall economic impact on
Polk County.
C. Key personnelfor the Chamber
Weymon Snuggs
Weymon is currently the Chief Banking Executive at Citizens Bank &
Trust in Lakeland, FL. He also serves on the Board of Directors as Vice
Chair, Innovation. He attended Birmingham-Southern College in
Birmingham, AL and graduated in 1979.
Corydon Skeates
Cory was named President of the Lakeland Area Chamber of Commerce
in January of 2015. In his role, he is responsible for chamber leadership,
government affairs and also oversees the administration of the Lakeland
Area Chamber Foundation and BusinessVoice, Inc. Originally from
Scottsville, NY, Cory moved to Central Florida in 1997 to attend Barry
University School of Law in Orlando after receiving a B.A. in Political
Science, Cum Laude, from Grove City College in Pennsylvania.

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D. Chamber OrganizationalStructure
The Lakeland Chamber of Commerce follows a typical hierarchical model. This model for
organizational structure is common for organizations of this size and allows the chamber to have
a top down leadership initiative. The Chamber is led by Cory Skeates and his Senior Vice
President and Vice Presidents.
E. Missionof Chamber of Commerce
At the time of this writing the Lakeland Chamber of Commerce did not have an official mission
statement. As a result, we propose the following as a potential mission:
“The Lakeland Area Chamber is the largest Chamber of Commerce in Polk County with over
1,400 investor businesses. The Lakeland Area Chamber of Commerce continues to be an integral
component of the Lakeland community by offering a wide variety of programs and initiatives that
positively impact the economic vitality and quality of life in our region. Our investors capitalize
on the contacts, resources, and support provided by the Chamber.”
F. Missionof MBA Team
Our mission is to provide the Chamber of Commerce with a comprehensive report to meet their
needs for the potential development of a new building in downtown Lakeland that would include
a small-business development center or business incubator operated by the Chamber.

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G. Case Study Objectives
The purpose of this section of the report is to highlight the primary objectives for this case study
as it has been laid out by the LCC. These objectives are:
● Gather historical data about the LCC and the various programs and activities that it
sponsors
● Demonstrate the historical influence that the LCC has had on the local economy
● Provide an initial report to be used in the capital campaign for the new multi-tenant
facility

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II. Historical Analysis
In our analysis of the Chamber of Commerce’s proposed new building and small business
program, we first analyzed several historical aspects of the Chamber’s existing operations in
order to get a better idea of their current standing and economic impact.
Included in the historical analysis is a look into the demographics of Polk County, an internal
analysis of the Chamber which includes a SWOT analysis, study of the Business Life Cycle, and
Value Chain analysis. The financial health of the Chamber of Commerce will be determined by
observing the financial statements and historical performance. Additionally, a full view of
membership numbers and partnerships with other organizations will be explored and detailed.
**Financial statements andmembership numbers are basedon 2015data, as this is themost recent yearavailable-no prior historical information
was able to be obtained.
A. Demographic Information
Polk County Demographics
Polk County is the one largest counties in
Florida and serves as a major hub for the
Tampa and Orlando markets. Polk County is
the home to over 35,000 businesses and
incubates roughly 50 new businesses each
week on average. Specifically, Lakeland
houses several significant organizations such
as Publix Super Markets, Lakeland Regional
Health, GEICO, and Saddle Creek Logistics
Services to name a few. (Implan, 2016)
See Appendix B - 2010 US Census for a target demographic population comparison.
B. FinancialStatements and FinancialHealth -
Annual Budget
*basedon 2015 financial dataprovidedby Chamber
See Appendix C - Financial Statements and Financial Health for the Annual Events Budget.

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C. SWOT Analysis
SWOT Analysis is a fundamental tool for reflecting on an organization's internal and external
influences to success. In the section below we list a few SWOT analysis breakdowns for the
Lakeland Chamber of Commerce and its sub-affiliations.
Strengths
● Established operations with over 95 years of experience
● Large support base with 800 Business Members and 1,400 Investor Businesses
● Strong and knowledgeable leadership in Weymon Snuggs and fellow Board Members
● Strong support from the entire local community and prominent organizations such as
Lakeland Economic Development Council (LEDC), Emerge Lakeland, Leadership
Lakeland
● Access to city-wide data and information pertinent to improving the local economy
● The project leader for their new proposed Business Center, Corydon, has experience with
conducting a similar economic impact study and construction of a similar business center
in the outskirts of Orlando
Weaknesses
● The current chamber building is too small to fit the current Chamber operations, as well
as the existing and even growing number of members in attendance at the meetings.
● They have to rent (usually provided for free) other spaces for large Chamber events and
meetings
● There is currently a lack of funding for their proposed building and project. It has become
apparent that obtaining further funding will be dependent upon investors being sold on its
potential benefits, hence the need for the impact study
● There is no similar local concept in which the community can look to as an example
● Current occupation space is in a City-owned building located in the Historic District. This
causes multiple conflicts and impacts many potential decisions, as the location of the
building renders it incapable of major improvements, however the Chamber has
previously elected to go against their wishes in order not to upset the City and jeopardize
their current lease agreement, as the they currently rent the space at a very reduced rate
Opportunities
● Lakeland is growing at a rapid pace, well above the average per capita of Florida in both
population and commerce
● The projected growth along the I-4 corridor presents a pivotal opportunity for the
chamber to attract new businesses into the Lakeland community and surrounding area
● The consulting portion of the new building can be integrated with Catapult to provide a
streamlined experience for new businesses
● Through a long-term small business focused approach, Lakeland can become known as a
welcoming environment for small businesses, creating value-added goodwill and an
innovative culture, which will eventually attract even more businesses

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● The success of the economic impact study and proposal could demonstrate the real
potential value of the Chamber of Commerce, ultimately leading to increased economic
value for the community
Threats
● The lack of public perception in the segregation from Catapult
● If the project is not implemented properly, the issue of funding may bring ire from
taxpayers
● The two bigger cities surrounding Lakeland (Tampa and Orlando) may divert some
businesses and economic opportunities
● Lack of public embracement of finished product
● Lack of funding may delay or significantly diminish the finished product, ultimately
causing the full potential to not be realized
D. Business Life Cycle
("dyutisaha16 – पृष्ठ 2 – Marketing Diary," 2016) ("Business Life Cycle," 2016)
Above, in Figure 3, the industry life cycle is demonstrated. As time moves, changes in demand
occur based on the relevance of the industry as a whole. The Chamber is looking to continue its
work in the industry of assisting small businesses in the community by entering into the growing
market for programs that assist small businesses more directly. From our research, we see an
uptick in the new segment of the industry that the Chamber wants to enter. Demand for
incubators and shared office spaces are growing through the world, country, and also locally.
The Chamber sees this demand and would like to expand their practices in order to capture that
demand.
Figure 4 depicts a business’s life cycle based on sales (in the Chamber’s case memberships).
Based on our data and understanding of the current situation at the Chamber of Commerce, we
have concluded that the Chamber is in the maturity stage of their business life cycle. Their
“industry” is not that of a typical industry with competitors and profit goals, but rather a non-
profit organization looking to remain relevant and contribute to the City of Lakeland’s business
outlook. However, membership has been slowly decreasing over the few years and they are
looking to reinvent themselves to remain relevant, capture the new demand that is in another
segment of the industry, and therefore get back into the growth stage.

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We believe the Chamber is on the precipice of entering the decline stage and are therefore left
with the choice of either taking decline head on and either divesting or harvesting what’s left of
their membership and resources, or they can innovate, renew their efforts, and attempt to reach a
new growth stage. This is the goal of the new Chamber building and small business program that
the Chamber is planning and we believe it will be effective at reaching a new growth stage if
executed correctly.
E. Value Chain Analysis
The Value Chain Analysis model is a valuable resource for organizations to identify and observe
key activities that provide value to their customers in a sustainable way. Ultimately, the goal or
value add for the LCC is the development of businesses and to contribute to their success in the
local markets. The Chamber is able to provide this benefit to Lakeland by participating in a
number of activities identified in the model below.
Above, each of the Chamber’s 5 primary activities in the Value Chain are placed within a 3 point
grading scale of −, ✓, and ✓+. The Chamber’s overall approach to impacting the surrounding
business community is well implemented. The services it provides is a strong point, the value of
which promotes retention and loyalty. While long-term membership retention is relatively high,
Chamber membership growth is not keeping up with the economic growth of Lakeland and Polk
County. The bottleneck is inside of operations, where the Chamber struggles to convert many
local businesses into members.
F. Chamber of Commerce Membership
With information provided from the Chamber’s records it is apparent that membership has been
on a steady decline over the past year. However, the introduction of the proposed building would
likely drive a reinvigorated membership as companies in the community seek to leverage the
added benefits that the Lakeland Chamber of Commerce has to offer including educational
seminars conducted by business and academic innovators throughout the region, as well as an

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opportunity for establishing new networks and connections. The partnerships with other
organizations (see next section) will also encourage membership. See Appendix D -
Membership for membership distribution by category and trends over time.
Based on the data in the appendix, it is apparent that membership has been on a steady decline
over the past year. However, the introduction of the proposed building would likely drive a
reinvigorated membership as companies in the community seek to leverage the added benefits
that the Lakeland Chamber of Commerce has to offer.
Chamber Social Media Following
LinkedIn 315 Followers
Twitter 5,541 Followers
Facebook 3,478 Followers
G. PartnershipsAffiliations
The Chamber has already gathered support from several organizations that wish to partner in
assisting the startup and progression of the new small business program proposed. These
organizations range in their specialties and will be necessary assets in the success of the program.
Central Florida SCORE
“SCORE provides no cost, confidential mentoring and educational
opportunities to start-ups and existing businesses to help them succeed
and thrive”. They have been active in Polk county since 1965 (“Central
Florida SCORE,” 2016). SCORE has agreed to partner with the Chamber to have office space
within the new building in order to offer shared services, including advising and
education/seminars, for small business tenants in the new program.
EMERGE Lakeland
“Lakeland is a meaningful networking organization of dedicated, talented
young professionals ranging in age from 21-42 in Lakeland. EMERGE
Lakeland is a partnership of the Lakeland Area Chamber of Commerce and the United Way of
Central Florida. (“About EMERGE,” 2016). EMERGE Lakeland is already involved in a
partnership with the Chamber and will be a vital asset to bring in invigorated youth to seminars
and participate in the development of the small businesses. Currently, EMERGE Lakeland has
262 members and is looking to growing.
Puerto Rican Hispanic Chamber of Commerce of Polk County
Part of the PRHCCPC’s mission is “to continue to innovate new ways

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in bringing the Polk County community together through life and business and by giving the
outside community an opportunity to learn what is great about our community of Hispanic
Entrepreneurs. All through culture, community and business” (“About us,” 2016). In partnership
with the Chamber of Commerce, the PRHCCPC can provide support between the Chamber and
the Hispanic community in Lakeland and the county.
Lakeland Economic Development Council
The Lakeland Economic Development Council’s “primary role is to help create jobs
and capital investment by attracting new companies as well as facilitating the
expansion of existing companies in the Lakeland area” (“LEDC Overview,” 2016).
The LEDC will be a vital partner in developing events and bringing in new
companies to the area that could benefit from membership with the Chamber, and potentially
become a tenant of the new building and program.
Higher Education Community
The higher education community in the Lakeland/Polk County area could provide a large benefit
for the proposed Business Collaboration Center by way of visiting professors giving seminars
and providing consulting services. Additionally, students will be given another outlet for
education at the Center. Those institutes of higher education include Florida Southern College,
Florida Polytechnic, Southeastern University, Polk State College, and Keiser University.
Additional Potential Partners
The Chamber could also partner with the following organizations: the Small Business
Development Center (SBDC), the Central Florida Development Council, Inc. (CFDC), Lakeland
Business Leaders, Downtown Lakeland Partnership (DLP), Lakeland Downtown Development
Authority (LDDA), National Association of Women Business Owners Lakeland, Lakeland
Vision, Polk Vision, Florida SBA, Career Source Polk, African American Chamber of
Commerce Central Florida, Central Florida Business Diversity Council, Chamber of Commerce
for Persons with Disabilities, Inc.

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III. Economic Impact Study of Potential Alternatives
A. Existing Economic Figures - Before Alternatives
Polk County Gross Regional Product - 2014
See Appendix E - Existing Economic Figures for the top ten industries by category.
B. Alternative 1 - Chamber Continues NormalOperations
The Lakeland Chamber of Commerce has clearly stated their intention is to move their
organization to a new building that can better house their operations and support future growth.
However, a responsible analysis of such a move must include alternative options so that the
Chamber can fully understand the ramifications and select the best future course of action.
Alternative 1 examines the existing economic impact of the Chamber’s current activities and
presents the merits of maintaining “Event A”, which is the status quo.
The total annual output of the Chamber is $1,927,777 and was calculated by summing the total
revenues and total expenses of their annual operations. The annual economic impact of the
Chamber’s existing activities was estimated at roughly $1,280,556. This estimate was calculated
by summing Chamber revenues and expenditures and then subtracting out Chamber salaries.
This figure is not an accurate approximation of the Chambers total economic impact, and did not
factor in the intangible value of Chamber membership. However, a study conducted by Noel and
Luckett did attempt to calculate these intangibles, and found that membership in a chamber of
commerce benefited members by providing confidence benefits, social benefits, and special
treatments (2014, p. 29).
Confidence benefits refer to the enhanced credibility member firms have with their customers.
Membership generally ensures that a business will be listed under the member directory. This
listing is often perceived, by consumers and other businesses, to be a seal of approval.
Advertising this membership occurs both by an on behalf of members.
Social benefits typically come in two forms. The first consists of community based programs
aimed at improving member and general population understanding of the local business
environment. These programs can impact areas ranging from community health to civic

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engagement and result in more knowledgeable citizenry. The second relates to the Chamber
programs designed to help teach individual members how to manage their businesses effectively.
Special treatments come in the form of discounts and networking opportunities for Chamber
members. Networking is extremely valuable. The ability to communicate with other Chamber
members facilitates the sharing of best practices, the development of partnerships, and the
creation of new business opportunities.
There are studies that have attempted to quantify the intangible benefits of Chamber
membership. For example, the Schapiro Group conducted research on behalf of the American
Chamber of Commerce Executives (ACCE) to determine the true economic value businesses
gain through chamber membership. One broad data point revealed that consumers are 10% more
likely to think that a member products stack up better against their competition (The Schapiro
Group, 2012, p. 1). Other industry specific data points showed even greater consumer
preferences for member businesses.
C. Alternative 2 - Chamber Constructs New Building for Headquarters
Alternative 2 combines the impact of construction with the figures and intangible benefits
addressed in Alternative 1. Construction of a new headquarters, “Event B”, will have a limited
but substantial economic impact. The IMPLAN estimate of the total effect of building a new
facility is approximately $5,687,921.
The current Chamber facility lacks the space, infrastructure, and technological requirements
needed to fully implement the Chamber’s goals. A new building will address these issues and
while providing the limited economic benefit associated with construction in an urban setting.
This option is however viable, and should be heavily considered by the Chamber.
Total Impact Summary
See Appendix F - Alternative 2: Construct New Building for Headquarters for the top ten
Industries affected by category.
See Appendix G - Alternative 2 - Construct New Building for Headquarters for the state,
local, and federal tax benefits received from the project.
D. Alternative 3 - Leases Spaceto Incubator Tenants
Alternative 3 imagines a scenario where the economic impact of “Event A” and “Event B” is
augmented by leasing space to area partners in a Business Collaboration Center, “Event C”. This
step clearly results in an increase in revenue for the Chamber but also creates an environment

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that is favorable towards supporting new businesses. For instance, the Central Florida SCORE
Association, which is a national company that provides small business advice, has an office in
Downtown Lakeland that the Chamber would like to move into the new building. Central Florida
SCORE would provide the shared services that new tenants would find useful.
Having these partners work together in one location is likely to create a synergistic effect and
fuel the success of new businesses in the Lakeland area. Evidence for the positive impact of
similar structures is well documented. For example, a study by Stokan, Thompson, and Mahu
found that firms working with business incubators generated 58% more jobs than firms trying to
make it on their own (2015, p. 322). The study also identified business services as a key variable.
Firms working with incubators received more than 10 times as many business services as non-
incubator competitor firms (2015, p. 323).
If the Chamber successfully recruits and houses partners like SCORE, Emerge, and the
Economic Development council the result should be a higher success rate and increased hiring
by the new entrepreneurial members. Select businesses that demonstrate a promising business
model should be encouraged to lease any vacant space within the new building. Proximity to
support organizations should amplify the positive effects of the incubator environment.
The IMPLAN analysis of leasing the office space did not take into consideration the recurring
economic impact associated with rent.
The projection for the 15,000 square feet building is as follows:
Square Footage
(15,000 ft2)
10 tenants 12 tenants 15 tenants
Chamber offices 5,000 - 6,000 ft2
Shared services 2,000 ft2
Large seminar room
(~180 people)
3,500 ft2
Available tenant space 3,500 ft2 350 ft2 each 291 ft2 each 233 ft2 each
(“Conference Meeting Rooms -Conference RoomFacilities Denver,” 2016)

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Alternative 3 Results From Implan
Total Impact Summary
See Appendix H - Alternative 3 - Construct New Building and Lease Space to Incubator
Tenants for top ten impacted industries by category.
See Appendix I - Alternative 3 - Construct New Building and Lease Space to Incubator
Tenants for state, local, and federal tax benefits received from the outcome.

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IV. Conclusion
The results of the Economic Impact Study exhibit that Alternative 3, constructing a new building
and implementing a Business Collaboration Center, would produce the greatest total output and
the largest economic impact for Polk County. However, it is important to note that the supporting
economic impact calculations and data computed with IMPLAN were dependent on the figures
inputted. Ideally, those inputs would have been comprised of relevant data points collected
through surveys of the Lakeland Chamber of Commerce membership, the construction estimates,
approximated rents, and the Chamber living budget. Unfortunately, the timeframe allotted for
this study did not allow for a scientific survey of the membership and, consequently, a precise
measure of the economic value that the Chamber provides its membership was impossible to
estimate.
Thankfully, similar studies evaluating the economic value of chambers of commerce and
business incubators have been conducted. This analysis relied heavily on those prior
examinations to surmise the likely effects of Chamber activities on their members. Some of the
key findings include a 10% more favorable view by consumers of Chamber member products,
when compared to competitors, and 58% increase in job creation for firms working in incubators
similar to the Business Collaboration Center. These data points augment the findings collected
via IMPLAN and reinforce the conclusion that Alternative 3 provides the greatest economic
impact for Polk County and the Lakeland Chamber of Commerce members.

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References
1. Noel, Mark, Luckett, Michael (2014). The benefits, satisfaction, and perceived value of
small business membership in a chamber of commerce. International Journal of
Nonprofit & Voluntary Sector Marketing, 19 (1), 27-39.
2. Office Property Asking Rent - Lease Trends (2016). Retrieved from
http://www.loopnet.com/Lakeland_Florida_Market-Trends
3. Stokan, Eric, Thompson, Lyke, Mahu, Robert (2015). Testing the Differential Effect of
Business Incubators on Firm Growth. Economic Development Quarterly, 29 (4), 317-327.
4. The Schapiro Group (2012). The Real Value of Joining a Local Chamber of Commerce:
A Research Study. Retrieved from
http://www.lbccc.org/documents/SchapiroUpdated_DEC2012.pdf
5. dyutisaha16 – पृष्ठ 2 – Marketing Diary. (2016). Retrieved from
https://dyutisaha16.wordpress.com/page/2/
6. Business Life Cycle. (2016). Retrieved from
http://www.banyanconsulting.com.au/improve_business/business_life_cycle
7. SCORE | Free Small Business Advice. (2016). Retrieved from
https://centralflorida.score.org/
8. About Us. (2016). Retrieved from http://www.prhccpc.com/about-us.html
9. About EMERGE. (2016). Retrieved from http://www.emergelakeland.com/mission/
10. About Us. (2016). Retrieved from http://www.prhccpc.com/about-us.html
11. LEDC Overview. (2016). Retrieved from http://www.lakelandedc.com/ledc/overview/
12. Conference Meeting Rooms - Conference Room Facilities Denver. (2016). Retrieved
from http://www.summiteventcenter.com/business-meetings/facilities-and-options
13. Thompson, A.A., Peteraf, M.A., Gamble, J.E. & Strickland, A.J. (2012) Crafting and
Executing Strategy: The Quest for Competitive Advantage, 18th edition. McGraw Hill.
14. U.S. Census Bureau (2010). US Census Comparison Overview. Retrieved from
http://www.census.gov/2010census/data/
15. The Lakeland Chamber of Commerce. Retrieved from http://www.lakelandchamber.com/
16. State, Local, and Federal Taxes. Retrieved from www.polktaxes.com
17. IMPLAN Economic Impact Modeling Software. Copyright 2015 IMPLAN Group LLC.

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Appendix A - Marketing One Sheet

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Appendix B - 2010 US Census
Demographic Information
US Census 2010 Overview Comparison
Analysis Site: 351 N MASSACHUSETTS AVE, LAKELAND, FL 33801
US Census 2010 OverviewComparison Report
5 Miles 10 Miles 20 Miles
BasicVariables
Population 129,036 282,213 619,849
Female Population 67,464 145,413 316,852
Female Percentage 52.3% 51.5% 51.1%
Male Population 61,572 136,800 302,997
Male Percentage 47.7% 48.5% 48.9%
Households 61,278 123,963 271,772
Age: Total
Age 0 to 4 6.7% 6.5% 6.4%
Age 5 to 9 6.2% 6.6% 6.6%
Age 10 to 14 6.0% 6.7% 6.7%
Age 15 to 17 3.7% 4.1% 4.2%
Age 18 to 20 5.0% 4.4% 4.0%
Age 21 to 24 6.0% 5.0% 4.7%
Age 25 to 29 6.8% 6.1% 5.9%
Age 30 to 34 5.7% 5.8% 5.7%
Age 35 to 39 5.6% 6.2% 6.1%
Age 40 to 44 5.7% 6.3% 6.3%
Age 45 to 49 6.3% 7.0% 7.0%
Age 50 to 54 6.4% 6.8% 6.8%
Age 55 to 59 5.8% 6.3% 6.2%
Age 60 to 64 5.7% 5.9% 6.0%
Age 65 to 69 4.9% 5.0% 5.2%
Age 70 to 74 4.2% 4.0% 4.3%
Age 75 to 79 3.5% 3.1% 3.3%
Age 80 to 84 3.0% 2.4% 2.4%
Age 85 Plus 2.8% 2.0% 2.0%
Median Age 39.26 39.60 40.35
Race & Ethnicity
American Indian and Alaska Native Alone 0.4% 0.4% 0.4%
Asian Alone 1.6% 1.9% 1.8%
Black Alone 20.2% 13.6% 12.9%

21 | P a g e
Native Hawaiian and Other Pacific Islander Alone 0.1% 0.1% 0.1%
Some Other Race Alone 4.6% 4.5% 5.3%
Two or MoreRaces 2.7% 2.4% 2.4%
White Alone 73.1% 79.5% 79.5%
Hispanic or Latino Ethnicity 14.3% 14.4% 16.3%
Not Hispanic or Latino Ethnicity 85.7% 85.6% 83.7%
Size of Household
1 Person Households 30.5% 24.5% 23.8%
7 + Person Households 1.8% 2.0% 2.1%
Urban and Rural Population
Urban 0.0% 0.0% 0.0%
Rural 0.0% 0.0% 0.0%
Not defined 100.0% 100.0% 100.0%

22 | P a g e
Appendix C - FinancialStatements and FinancialHealth

23 | P a g e
Appendix D - Membership

24 | P a g e
Appendix E - Existing Economic Figures
Polk County Top Ten Industries by Output
Polk County Top Ten Industries by Labor Income
Polk County Top Ten Industries by Employment

25 | P a g e
Appendix F - Alternative 2: ConstructNew Building for Headquarters
Top Ten Industries Affected By Output
Top Ten Industries Affected By Labor Income
Top Ten Industries Affected By Employment

26 | P a g e
Appendix G - Alternative 2 - Construct New Building for Headquarters
Tax Benefits of Alternative 2
State and Local Tax Impact
Federal Tax Impact

27 | P a g e
Appendix H - Alternative 3 - Construct New Building and Lease Space to
Incubator Tenants
Top Ten Industries Impacted By Employment
Top Ten Industries Impacted By Output
Top Ten Industries Impacted By Labor Income

28 | P a g e
Appendix I - Alternative 3 - Construct New Building and Lease Space to
Incubator Tenants
Tax Benefits of Alternative 3
State and Local Tax Impact
Federal Tax Impact

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