With
more than one million residents, the seven-county Northeast
Florida region offers endless opportunities. The
urban centers of the region are Palm Coast and Jacksonville,
a city consistently rated as one of the "Hottest Cities
in America " for business expansions and relocations.
Infrastructure:
The region offers an excellent infrastructure with the existence
of several highways, railways, and seaports that provide
access to all global markets. Additionally, the area is
covered with a wide area network bandwidth allowing businesses
to transfer voice, video and data effortlessly. JEA, the
eighth largest municipal utility in the U.S., provides electricity,
water and wastewater service to the region and thus offers
businesses lower overhead costs and reliable service.
Industry:
A network of aftermarket manufacturers and organizations
that maintain, repair and overhaul aircraft have found the
area a hotbed for business. The region is also strong in
the biomedical technology field due to the existence of
two high caliber research facilities – Mayo Clinic
and Shands Jacksonville.
Workforce:
The strong military influence has generated a well-disciplined
workforce with excellent technical and avionics skills and
a haven for high tech contractors. In addition, many training
programs and facilities are available in the region, such
as the Aviation/Aerospace Center of Excellence, designed
to train secondary and community college-level students
in airframe and power plant certification. Furthermore,
businesses in Northeast Florida reap the benefits of administrative
costs that are lower than many metro areas in the nation.
Quality
of Life: Few places in America allow residents
to be moments from the ocean, in a bustling downtown or
deep in tropical woods. The urban centers of the region
are Palm Coast and Jacksonville, a city consistently rated
as one of the "Hottest Cities in America" for
business expansions and relocations.
Northeast Florida: Economic Indicators
Indicator
Northeast
Population, 2006 1,435,164
Labor Force, 2006 712,043
Total Employment, 2006 688,350
Unemployment Rate, 2006 3.3%
Personal Income, 2005 ($Billions) $46.5
Per Capita Personal Income, 2005 $33,253
Number of Foreign-Affiliated Companies, 2007 118
Cost of Living Index, 2006 (U.S. Average=100) 97.4
Median Home Price, 2006
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