Florida Employment: Past, Present & Future - Quinn Eddins

1. NON FULL-BLEED COVER [EXAMPLE]
FLORIDA EMPLOYMENT: PAST, PRESENT AND FUTURE
Florida Multifamily Summit 2014
October 9, 2014

2. FLORIDA EMPLOYMENT IS STILL RECOVERING
Hit particularly hard by the recession, Florida is still replacing lost jobs
Employment, Indexed (100 = Pre-Recession Peak)
Source: CBRE Research, US Bureau of Labor Statistics, September 2014.

3. FLORIDA HAS CREATED >600K JOBS SINCE 2009
More jobs added than any other state except TX and CA
Job Growth (000s) 2009-2014, Top 25 States
Source: CBRE Research, US Bureau of Labor Statistics, July 2014.

4. FLA. METROS SHOW STRONG JOB GROWTH
Miami and Orlando’s labor markets are among the fastest growing
Job Growth (%) 2009-2014
Source: CBRE Research, US Bureau of Labor Statistics, July 2014.

5. TRADE & SERVICES LEAD FLORIDA JOB GROWTH
Health care & office-using sectors also drive job growth
Florida Employment Growth 2010-2014 (000s of Jobs), by Industry
Source: CBRE Research, US Bureau of Labor Statistics, May 2014.

6. TRADE & SERVICES LEAD FLORIDA JOB GROWTH
Health care & office-using sectors also drive job growth
Florida Employment Growth 2010-2014 (000s of Jobs), by Industry
Source: CBRE Research, US Bureau of Labor Statistics, May 2014.

7. FLORIDA'S GDP IS AT AN ALL-TIME HIGH
The state economy has fully recovered from the recession
Gross Domestic Product, Indexed (100 = Pre-Recession Peak)
Source: CBRE Research, US Bureau of Economic Analysis, July 2014.

8. FLORIDA’S GDP IS AMONG THE FASTEST-GROWING
Florida’s GDP grew by $79M, 2009-2013
GDP Growth (Millions of Current Dollars) 2009-2013, Top 25 States
Source: CBRE Research, US Bureau of Economic Analysis, July 2014.

9. GROWTH IN FLORIDA GDP, BY INDUSTRY
Trade, health care and F.I.R.E. drive growth in Florida GDP
Change in Florida GDP (Billions of Current Dollars), by Industry
Source: CBRE Research, US Bureau Economic Analysis, 2014.

10. GROWTH IN FLORIDA GDP, BY INDUSTRY
Trade, health care and F.I.R.E. drive growth in Florida GDP
Change in Florida GDP (Billions of Current Dollars), by Industry
Source: CBRE Research, US Bureau Economic Analysis, 2014.

11. RETAIL SALES ARE INCREASING
Retail sales are growing faster in Florida than the U.S. overall
Total Value of Retail Sales, Year-Over-Year Change
Source: CBRE Research, US Bureau of Economic Analysis, July 2014.

12. RECORD TOURISM
Florida tourism spending has broken records 3 years straight
Florida Tourism Spending (Billions of Current Dollars)
Source: CBRE Research, VISIT FLORIDA Research, 2013.

13. MULTIFAMILY CONSTRUCTION IS RISING
Multifamily permits are increasing rapidly, approaching long-term average
Multifamily Units Permitted in Florida
Source: CBRE Research, Zillow, July 2014.

14. RAPIDLY-GROWING POPULATION
Florida is the 3rd-fastest-growing state in the U.S.
Avg. Annual Population Change (000s of People), 2010-2013
Source: CBRE Research, U.S. Census Bureau, March 2014. Source: CBRE Research, U.S. Census Bureau, May 2014.

15. SENIORS WILL DRIVE POPULATION GROWTH
Florida Population by Age Group
Source: CBRE Research, Florida Bureau of Economic and Business Research, 2013.

16. AGING BABY BOOMERS WILL DRIVE GROWTH IN
FLORIDA'S SENIOR POPULATION
Florida’s Senior Population (65+), 2010-2030
Source: CBRE Research, Florida Bureau of Economic and Business Research, 2013.

17. SPENDING HABITS: BABY BOOMERS VS. PRIOR
GENERATION
Inflation-Adjusted Spending by 45- to 64-Year-Olds, 2010 vs. 1990
Source: CBRE Research, Consumer Expenditure Survey, US Bureau of Labor Statistics, 2010.

18. GROWTH IN SENIOR SPENDING THROUGH 2030
Change in Total Spending by Florida Seniors (65+), Inflation Adjusted, 2030 vs. 2012*
Source: CBRE Research, US Bureau of Labor Statistics’ Consumer Expenditure Survey and Consumer Price Index, July, 2014.

19. ALL ABOARD FLORIDA

20. Jobs (avg. per year):
2014-2016: 10,000+
2017-2021: 3,500+
After 2021: 2,200+
ALL ABOARD FLORIDA

21. JOBS
(Including Direct, Indirect and Induced)
Source: CBRE Research; Washington Economics Group, Inc.; May 20, 2014.
ALL ABOARD FLORIDA

22. SUNRAI
L

23. SUNRAI
L
Phase II: 2014-2016
New permanent TOD-related jobs
within ½ mile of stations:
Deland 4,000 jobs
Meadow Woods 3,600 jobs
Osceola Parkway 775 jobs
Kissimmee 990 jobs
Poinciana 2,650 jobs
Total 12,015 jobs

24. PORTMIAMI

25. PORTMIAMI
Tunnel & Deep Dredge
33,000 new jobs (direct and indirect)
207,000 jobs already supported in the region

26. PORT EVERGLADES

27. Southport Turning Notch
2,200+ construction jobs
5,500+ new permanent jobs (direct and
indirect)
PORT EVERGLADES

28. PORT TAMPA
BAY

29. Container Terminal Expansion
525+ construction jobs
Up to 1,400 new permanent jobs
2,500 existing jobs retained
PORT TAMPA
BAY

30. CENTRAL
FLORIDA
INTER-MODAL
LOGISTICS
CENTER

31. 8,500 jobs after10 years:
2,000 jobs at the Park
6,500 jobs outside the Park
CENTRAL
FLORIDA
INTER-MODAL
LOGISTICS
CENTER

32. TAMPA INTERNATIONAL
AIRPORT

33. TAMPA INTERNATIONAL
AIRPORT
20-Year Capital Improvement Plan
Phase I: 9,000+ jobs
Consolidate rental car facility
Install automated people mover
Phase II: 4,000+ jobs
Replace control tower
Replace hotel
Phase III: 13,000+ jobs
Expand main terminal

34. Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014. MIAMI
WORLDCENTER

35. Phase I: The Mall at Miami Worldcenter
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014. MIAMI
WORLDCENTER
2014 – 2016
19,500 construction and temporary jobs
10,000 direct + 9,500 indirect jobs
14,000 permanent jobs
8,000 direct + 6,000 indirect jobs

36. BRICKELL CITY
CENTER
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.
(2012-2015)

37. BRICKELL CITY
CENTER
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.
2012-2015
1,700 construction jobs
970 direct + 730 indirect jobs
6,200 permanent jobs
3,700 direct + 2,500 indirect jobs

38. DAYTONA RISING/
ONE DAYTONA
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.

39. DAYTONA RISING/
ONE DAYTONA
Daytona Rising: 2013-2016
6,300 construction jobs
One Daytona Phase I: 2015-2017
4,738 construction jobs
4,348 permanent jobs
One Daytona Buildout: 2017-2037+
14,158 construction jobs
14,824 permanent jobs
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.

40. CORPORATE
EXPANSIONS
OF 1,000+ JOBS

41. 2,200 jobs in St. Augustine and Melbourne by 2020

42. 2,200 jobs in St. Augustine and Melbourne by 2020
1,500 jobs in Pensacola by 2016

43. 2,200 jobs in St. Augustine and Melbourne by 2020
1,500 jobs in Pensacola by 2016
1,100 jobs in Lake Mary by 2016
1,000 jobs in Lake
Mary by 2019

44. 2,200 jobs in St. Augustine and Melbourne by 2020
1,500 jobs in Pensacola by 2016
1,100 jobs in Lake Mary by 2016
1,000 jobs in Lake
Mary by 2019
1,000 jobs in Tampa by 2018
1,215 jobs in Tampa by 2019

45. 2,200 jobs in St. Augustine and Melbourne by 2020
1,500 jobs in Pensacola by 2016
1,100 jobs in Lake Mary by 2016
1,000 jobs in Lake
Mary by 2019
1,000 jobs in Tampa by 2018
1,215 jobs in Tampa by 2019
1,500 jobs in Tampa and Lakeland by 2015

46. THANK YOU!