florida employment: past, present & future - quinn eddins
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Florida Employment: Past, Present & Future - Quinn EddinsTRANSCRIPT
FLORIDA EMPLOYMENT: PAST, PRESENT AND FUTUREFlorida Multifamily Summit 2014October 9, 2014
NON FULL-BLEED COVER [EXAMPLE]
Hit particularly hard by the recession, Florida is still replacing lost jobsFLORIDA EMPLOYMENT IS STILL RECOVERING
Source: CBRE Research, US Bureau of Labor Statistics, September 2014.
Employment, Indexed (100 = Pre-Recession Peak)
More jobs added than any other state except TX and CAFLORIDA HAS CREATED >600K JOBS SINCE 2009
Source: CBRE Research, US Bureau of Labor Statistics, July 2014.
Job Growth (000s) 2009-2014, Top 25 States
Miami and Orlando’s labor markets are among the fastest growing FLA. METROS SHOW STRONG JOB GROWTH
Source: CBRE Research, US Bureau of Labor Statistics, July 2014.
Job Growth (%) 2009-2014
Health care & office-using sectors also drive job growthTRADE & SERVICES LEAD FLORIDA JOB GROWTH
Source: CBRE Research, US Bureau of Labor Statistics, May 2014.
Florida Employment Growth 2010-2014 (000s of Jobs), by Industry
Health care & office-using sectors also drive job growthTRADE & SERVICES LEAD FLORIDA JOB GROWTH
Source: CBRE Research, US Bureau of Labor Statistics, May 2014.
Florida Employment Growth 2010-2014 (000s of Jobs), by Industry
The state economy has fully recovered from the recessionFLORIDA'S GDP IS AT AN ALL-TIME HIGH
Source: CBRE Research, US Bureau of Economic Analysis, July 2014.
Gross Domestic Product, Indexed (100 = Pre-Recession Peak)
Florida’s GDP grew by $79M, 2009-2013 FLORIDA’S GDP IS AMONG THE FASTEST-GROWING
Source: CBRE Research, US Bureau of Economic Analysis, July 2014.
GDP Growth (Millions of Current Dollars) 2009-2013, Top 25 States
Trade, health care and F.I.R.E. drive growth in Florida GDPGROWTH IN FLORIDA GDP, BY INDUSTRY
Source: CBRE Research, US Bureau Economic Analysis, 2014.
Change in Florida GDP (Billions of Current Dollars), by Industry
Trade, health care and F.I.R.E. drive growth in Florida GDPGROWTH IN FLORIDA GDP, BY INDUSTRY
Source: CBRE Research, US Bureau Economic Analysis, 2014.
Change in Florida GDP (Billions of Current Dollars), by Industry
Retail sales are growing faster in Florida than the U.S. overallRETAIL SALES ARE INCREASING
Source: CBRE Research, US Bureau of Economic Analysis, July 2014.
Total Value of Retail Sales, Year-Over-Year Change
Florida tourism spending has broken records 3 years straightRECORD TOURISM
Source: CBRE Research, VISIT FLORIDA Research, 2013.
Florida Tourism Spending (Billions of Current Dollars)
Multifamily permits are increasing rapidly, approaching long-term average
MULTIFAMILY CONSTRUCTION IS RISING
Source: CBRE Research, Zillow, July 2014.
Multifamily Units Permitted in Florida
Florida is the 3rd-fastest-growing state in the U.S.RAPIDLY-GROWING POPULATION
Source: CBRE Research, U.S. Census Bureau, March 2014. Source: CBRE Research, U.S. Census Bureau, May 2014.
Avg. Annual Population Change (000s of People), 2010-2013
SENIORS WILL DRIVE POPULATION GROWTH
Source: CBRE Research, Florida Bureau of Economic and Business Research, 2013.
Florida Population by Age Group
AGING BABY BOOMERS WILL DRIVE GROWTH IN FLORIDA'S SENIOR POPULATION
Source: CBRE Research, Florida Bureau of Economic and Business Research, 2013.
Florida’s Senior Population (65+), 2010-2030
SPENDING HABITS: BABY BOOMERS VS. PRIOR GENERATION
Source: CBRE Research, Consumer Expenditure Survey, US Bureau of Labor Statistics, 2010.
Inflation-Adjusted Spending by 45- to 64-Year-Olds, 2010 vs. 1990
GROWTH IN SENIOR SPENDING THROUGH 2030
Source: CBRE Research, US Bureau of Labor Statistics’ Consumer Expenditure Survey and Consumer Price Index, July, 2014.
Change in Total Spending by Florida Seniors (65+), Inflation Adjusted, 2030 vs. 2012*
ALL ABOARD FLORIDA
ALL ABOARD FLORIDA
Jobs (avg. per year):
2014-2016: 10,000+
2017-2021: 3,500+
After 2021: 2,200+
ALL ABOARD FLORIDA
JOBS(Including Direct, Indirect and Induced)
Source: CBRE Research; Washington Economics Group, Inc.; May 20, 2014.
SUNRAIL
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 jobsKissimmee 990 jobsPoinciana 2,650 jobs
Total 12,015 jobs
SUNRAIL
PORTMIAMI
PORTMIAMITunnel & Deep Dredge
33,000 new jobs (direct and indirect)
207,000 jobs already supported in the region
PORT EVERGLADES
PORT EVERGLADES
Southport Turning Notch
2,200+ construction jobs
5,500+ new permanent jobs (direct and indirect)
PORT TAMPA BAY
PORT TAMPA BAY
Container Terminal Expansion
525+ construction jobs
Up to 1,400 new permanent jobs
2,500 existing jobs retained
CENTRAL FLORIDA INTER-MODAL LOGISTICSCENTER
8,500 jobs after10 years:
2,000 jobs at the Park
6,500 jobs outside the Park
CENTRAL FLORIDA INTER-MODAL LOGISTICSCENTER
TAMPA INTERNATIONAL AIRPORT
TAMPA INTERNATIONAL AIRPORT
20-Year Capital Improvement Plan
Phase I: 9,000+ jobsConsolidate rental car facility
Install automated people mover
Phase II: 4,000+ jobsReplace control tower
Replace hotel
Phase III: 13,000+ jobsExpand main terminal
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.
MIAMIWORLDCENTER
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.
MIAMIWORLDCENTER
Phase I: The Mall at Miami Worldcenter
2014 – 2016
19,500 construction and temporary jobs
10,000 direct + 9,500 indirect jobs
14,000 permanent jobs8,000 direct + 6,000 indirect jobs
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.
BRICKELL CITY CENTER
(2012-2015)
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.
BRICKELL CITY CENTER
2012-2015
1,700 construction jobs970 direct + 730 indirect jobs
6,200 permanent jobs3,700 direct + 2,500 indirect jobs
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.
DAYTONA RISING/ONE DAYTONA
Source: Let’s Keep Florida Ports Working, Rick Scott for Florida, May 19,2014.
Daytona Rising: 2013-20166,300 construction jobs
One Daytona Phase I: 2015-20174,738 construction jobs
4,348 permanent jobs
One Daytona Buildout: 2017-2037+14,158 construction jobs
14,824 permanent jobs
DAYTONA RISING/ONE DAYTONA
CORPORATE EXPANSIONS OF 1,000+ JOBS
2,200 jobs in St. Augustine and Melbourne by 2020
1,500 jobs in Pensacola by 2016
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
2,200 jobs in St. Augustine and Melbourne by 2020
1,500 jobs in Pensacola by 2016
1,000 jobs in Tampa by 2018
1,215 jobs in Tampa by 2019
1,100 jobs in Lake Mary by 2016
1,000 jobs in Lake Mary by 2019
2,200 jobs in St. Augustine and Melbourne by 2020
1,500 jobs in Pensacola by 2016
1,000 jobs in Tampa by 2018
1,215 jobs in Tampa by 2019
1,500 jobs in Tampa and Lakeland by 2015
1,100 jobs in Lake Mary by 2016
1,000 jobs in Lake Mary by 2019
2,200 jobs in St. Augustine and Melbourne by 2020
THANK YOU!