HomeMy WebLinkAbout2009 02 09 Awards and Presentations 300 Provided by Tom TomlinsonDate: February 9, 2009
The attached was provided to the city
Commission during Awards and Presentations
"300" by Mr. Tom Tomlinson at the February 9,
2009 City Commission Regular Meeting.
BLUEPRINT FOR
QUALITY ECONOMIC DEVELOPMENT
SeminoleWAY is a strategic land use and economic development plan
focused on attracting high-wage jobs and businesses to Seminole County.
This district stretches along the State Road 417 Corridor and across 1-4 to the
Port of Sanford, which connects to the St. Johns River.
The SeminoleWAY Plan guarantees a common land use agreement; 20 year land
inventory; balanced, mixed-use development; environmental responsibility; and
innovative strategic planning. It is a model for sustainable development in an
increasingly environmentally-sensitive and globally competitive marketplace.
Supporting the SeminoleWAY initiative is a collaboration of private businesses,
the Seminole Regional Chamber of Commerce, Seminole County Government,
the Orlando Sanford International Airport, Port of Sanford, University of Central
Florida, Seminole Community College, Florida High Tech Corridor Council,
the Metro Orlando Economic Development Commission, and the cities of Sanford,
Winter Springs and Oviedo.
SEMINOLE COUNTY, FLORIDA
Seminole Count' is renowned for beautiful neighborhoods, business
opportunities, abundant natural beauty, and the state's leading school system.
With so many assets to draw from, opportunities for business and development
in Seminole County are at an all time high. The region has an impressive track
record, with over 12,21 1 business start-ups in the past year alone. Seminole
County is home to seven cities, each with fast access to the region's efficient
highway system and the Orlando Sanford International Airport.
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SeminoleWAY is about the future.
Created by the community, and built by a
collaborative effort between professionals and
citizens alike, SeminoleWAY is about how
to best use resources. SeminoleWAY will join
businesses,
educational
institutions and
neighborhoods
together in
a modern,
sustainable
community. This initiative will allow for continued
robust economic growth, ease the tax burden
on homeowners and protect the environment.
Keeping and caring about the environment,
families, amenities and schools; while planning
for smart growth and a more stable tax base ...
that's the SeminoleWAY!
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SeminoleWAY:
STRATEGY FOR SUSTAINABLE GROWTH
Building upon Seminole County's solid economic
foundation and technology-driven corporate base,
SeminoleWAY is ideally suited as a location
for the following high impact industries:
1 Financial Services
1 Digital Media
1 Life Science & BioTechnology
1 Technical and Research Services
SEN9/NOL~uNTY
R~~t;r~;> Atno-~;i Cia_~icL
Orlando
ECONOMIC
DEVELOPMEN?
COMMISSION
Headquarters Office
301 East Pine St., Suite 900
Orlando, FL 32801
P. 407.422.7159 F. 407.425.6428
www.OrlandoEDC.rnm
Seminole County Office
1055 AAA Drive, Suite 142
Heathrow, FL 32746
P. 407.665.7143 F. 407.665.7145
Tracy. Turk@Orl andoEDC. com
Serving Orange, Seminole, Lake
and Osceola Counties and the Cily of Orlando
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SeminoleWAY is a strategic Iond use and economic development plan
f«used on attracfing high-wogs jobs and businesses to Seminole County.
This dishict sketches abng the State Rood 417 Comidor and across 1~ ro the
Port of Sanford, which connects ro the St. Johns River.
The SeminoleWAY Plan guarantees a common land use agreement; 20 year land
inventory; balanced, mixed~se deveopmenY environmental responsibility; and
innovative shategic planning. It is a model for sustainable development in an
increasingly environmentally-sensitive and gbbally competitive marketplace.
Supporting the SeminoleWAY initiative is a collaboration of private businesses,
the Seminole Regional Chamber of Commerce, Seminole County Government,
the Cklando Sanford International Airport, Port of Sanford, University of Canhal
Florida, Seminole Community College, Florida High tech Corridor Council,
the Meho Chlando Economic Development Commission, and the cities of Sanford,
Winter Springs and Oviedo.
SEMINOLE COUNTY, FLORIDA
Seminole Count' is renowned for beautiful neighborhoods, business
opportunities, abundant natural beauty, and the state's lending xhool system
With so many assets to drow from, opporunities for business and development
in Seminole County are at an all time high. The region has an impressive hack
record, with over 12,211 business sfarWps in the past year alone. Seminole
County is home ro seven cities, each with fast access ro the region's efficient
highway system and Rte Odando Sanford International Airport.
SeminoleWAY is a stategic land use and economic development plan
F«used on athacting high-wage jobs and businesses to Seminole Count'.
This dishict shekhes along the Stole Road 417 Corridor and across Id to the
Port of Sanford, which connects ro the St. Johns River.
The SeminoleWAY Plan guarantees o common land use agreement; 20 year land
invenory; balanced, mixeduse development; environmental responsibility; and
innovative shategic planning. II is a model for sustainable development in an
increasingly environmentally-sensitive and globally competiRve marketpl«e.
Supporting Rte SeminoleWAY initafive is a collaboraton of private businesses,
the Seminole Regional Chamber of Commerce, Seminole County Government,
the Orlando Sanford International Airport, Pat of Sanford, University of Cenhal
Florida, Seminole Community College, Florida High Tech Corridor Council,
the Meho Odando Economic Development Commission, and the cities of Sanford,
Winter Springs and Oviedo.
SEMINOLE COUNTY, FLORIDA
Seminole County is renowned for beaufiful neighborhoods, busineu
opporunities, abundant neural beauy, and the state's leading school system
With so many assets to drow from, opportunities for business and development
in Seminole County are at an all time high. The region has an impressive hack
record, with over 1 2,211 business srorWps in Rye past year alone. Seminole
County is home ro seven cities, each with fast «cess ro the region i efficient
highway system and the Orlando Sanford International Airport.
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citizens alike, SeminoleWAY is about how
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bes! ~re rese~erces SeminoleWPY will join
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Industry and Facility Analysis
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SeminoleWay Industry and Facility Analysis -Executive Summary
Executive Summary
Introduction and Vision for SeminoleWay
Preparing a guide for quality economic development for the future of a vital community
like Seminole County needs clear vision and leadership. It requires coordination and
consistency of policies, as well as supporting infrastructure and resources. To enhance
the opportunities for successful implementation, it also takes relevant and accurate
information regarding the economic marketplace and the possible obstacles that might
constrain or redirect the most practical options and pathways. In a globally competitive
world where technological changes can sweep swiftly like waves across the sea, one
locale must focus intently all of its resources on the target and move quickly. At the
same time, foundations must be laid to provide the infrastructure and support systems
that might not be fully capitalized for a decade, or more.
In this evolving and highly charged environment, reflecting the character of a well built
community already near maturation, the SeminoleWay initiative was conceived by a
visionary partnership of business and governmental leaders -The Seminole County
Regional Chamber of Commerce. The Mission: to create a strategic land use and
economic development plan focused on attracting high value/high wage jobs and
businesses to the county along the State Road 417 Corridor and across I-4 to the Port of
Sanford.
For the past twenty years, Seminole County has pioneered and wrestled with the
challenges of maintaining a strong comprehensive plan that encourages positive
economic growth for the future beyond only dependency on ad valorem tax-supported
growth. The SeminoleWay initiative will continue this forvvard thinking and create an
positive environment and effective strategies for bringing business and government
together in pursuit of a strong, stable, and relevant economic future of investment,
livable incomes, and high quality employment.
In the following pages, this Executive Summary explores issues addressed more fully in
the Industry and Facilities Analysis report:
1. goals and visions for economic development in the SeminoleWay corridor;
2. local resources for economic development;
3. important and relevant historical economic trends in Seminole County and the
central Florida region;
4. economics futures for the county; and
5. land use trends and policies that will be important to attracting high value/high
wage jobs and businesses to the county.
All five of these subject areas must be incorporated into a coordinated and effective
strategy for identifying how the SeminoleWay dream may come true.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN
SeminoleWay Industry and Facility Analysis -Executive Summary
Study Area Context
Seminole County has identified a study corridor generally consistent with the alignment
of SR 417, extending north from Orange County to Interstate 4. Along this corridor there
are seven interchanges providing varying access to approximately 3,700 acres of
undeveloped property distributed among owners of more than 4,000 vacant or seriously
underutilized parcels. The county has indicated a preference to position this corridor to
support targeted industries which might complement or expand the base of high
technology, higherwage employment already established in the North I-4/Lake Mary HIP
area and proximate to UCF in Orange County.
Preliminary assessment of the opportunity has suggested that only a limited number of
the undeveloped acres (25% or less) are in large assemblages and only a small part of
the larger parcels are adequately served by SR 417. The restricted access may be
further constrained by the toll structure on SR 417 and the absence of supporting
alternate roads paralleling the expressway.
Practically, this analysis accepts the limitations imposed by the physical configuration of
the existing road system and evaluates alternatives generally matched to the known or
anticipated capacity. A later phase of this planning initiative might identify prospective
economic development opportunities and suggest strategies to enhance the
infrastructure perceived necessary to secure these opportunities. The preferred
approach is to pursue the former option, considering the latter only if the initial
assessment points to obviously unexploited target segments of exceptional high value.
Figure 1 provides an illustration of the SeminoleWay study corridor. A set of figures
relevant to this executive summary can be found at the end of the document.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 2
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Figure 1: Seminole Way Study Corridor Data Source: Seminole County
SeminoleWay Industry and Facility Analysis -Executive Summary
Conclusions and Recommendations of this Effort
A brief summary of the findings and conclusions of this first phase evaluation of the
SeminoleWay economic development vision is presented here in relation to the major
topic areas addressed in this report. The accompanying Industry and Facilities
Analysis report and its appendices provide a more expansive presentation of the
study's key findings.
The Vision for SeminoleWay
What Seminole County community and government leaders want are high value
investments and high wage jobs in target industries sectors that will provide economic
stability and growth for the next twenty years, or more. For many in local leadership
roles, the vision is embodied not in the next successful office development or the next
industrial park, which are easily predicted and clearly envisioned. Rather, they are
wrestling with defining what will be relevant and needed in the county and the region
when the next generation of leadership is in control and making decisions about what is
best for its community. For many, it is necessary to understand what is emerging or only
anticipated at this time.
The analysis summarized in this report brings emerging economic trends and industry
clusters into focus and evaluates their suitability for the SeminoleWay corridor.
The "Vision" held by community stakeholders includes many specific goals and
objectives. Based on the results of this analysis to date, "Success" would be defined
as:
1. A vision or plan based on realistic economic opportunities for the Corridor,
blending public resources, private business interests and education;
2. Attraction of businesses that add to the County's quality of life through stable
investment, high-wage employment, environmentally friendly development, and
support for existing economic base;
3. Expansion of the County's non-residential ad valorem tax base and other
revenue sources;
4. Provision of appropriate land use controls and comprehensive plan policies
throughout the Corridor to allow desirable "high value/high wage" (and maybe
"high tech") businesses to find a place in the county;
5. Land owners understanding the vision of SeminoleWay and "buying in;"
6. Certainty that infrastructure resources, policies, and incentives are aligned at
county and municipal levels to enhance the chances of achieving the economic
development vision.
Economic Futures Analysis
Seminole County already possesses a significant amount of strategic economic
development resources that can be readily applied to facilitate economic development
within the SeminoleWay Corridor. The foundation for land use policy incentives has
previously been laid with the existing HIP-TI targeted future industries land use category.
Many of the policies and practices associate with HIP-TI could function to attract
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 4
SeminoleWay Industry and Facility Analysis -Executive Summary
identified SeminoleWay economic clusters. Existing financial incentive programs, such
as the Jobs Growth Initiative Fund, the Qualified Target Industry Tax Refund program,
and the Florida High Tech Corridor Council matching grants, will be or should be made
available to targeted industries within SeminoleWay. The SeminoleWay initiative
should continue to build upon and enhance the existing partnership with the University of
Central Florida's Business Incubation program.
Building upon the existing economic and industrial conditions in Seminole County and
the greater Orlando MSA, the RERC team has identified four specific economic clusters
with the greatest potential of fulfilling the SeminoleWay Corridor vision and fostering
real long term economic growth in sustainable high wage, high impact industries. They
are:
1. Financial services and information services
2. Digital media including modeling and simulation, film and broadcasting, themed
entertainment and animation/game development
3. Life sciences including biotech and medical instrumentation
4. Technical and research services including civil and environmental engineering
and so-called "green" architectural and engineering services
These four clusters represent the most feasible and attractive future of the
SeminoleWay Corridor given the context and identified constraints. Policy decisions
concerning each cluster should be evaluated and tailored to exploit the resources
identified within this report.
Any limitations of or barriers to the successful cultivation of the SeminoleWay targeted
industry clusters are likely to be spatially specific in nature. From a global perspective,
the SeminoleWay Corridor is already well suited to attract and sustain each of the
identified clusters without significant hindrance from transportation infrastructure,
environmental constraints, suitable housing, educational resources, or land use and
comprehensive planning policies.
Land Use Analysis
Accounting for environmental constraints and major accessibility issues, the State Road
417 Corridor between I-4 and the Orange County line contains about 3,300 acres of land
that could be considered suitable for economic development efforts of the SeminoleWay
vision. Of these ripe lands, the majority of acreage can be classified as underutilized
rather than vacant. Approximately 500 acres within the two mile corridor and nearly 900
acres located within the Sanford Orlando Airport and HIP areas are functionally vacant.
These constraints suggest that targeted industries and development within the corridor
will necessarily be focused toward smaller individual developments and businesses that
may not require a large tightly clustered campus and the associated large tracts of raw
undeveloped land. To serve the most obvious target industries and businesses, large-
scale land assemblage is probably not necessary.
The suitable land within SeminoleWay is, however, clustered around readily accessible
SR 417 interchanges. SR 417 itself provides ready and efficient access to both interstate
4, Sanford Orlando Intemational Airport and Orlando Intemational Airport. The future
land use policies of Seminole County and the SeminoleWay partner municipalities
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 5
SeminoleWay Industry and Facility Analysis -Executive Summary
currently governing the available lands around the SR 417 interchanges support the
SeminoleWay vision and may require only minor adjustment on a spatially specific basis
to fully accommodate the specific SeminoleWay targeted industries.
While it appears unlikely that a major "ship of gold" opportunity will be drawn to
SeminoleWay's limited harbors, there will be many, many opportunities to draw high
value cargo to the county's scattered ports and business centers via tenders, shuttles,
and barges that connect the county's resources with motherships of targeted industry
clusters of tomorrow.
Historical Perspectives
Past Development Trends -Seminole County
Over the last 25 years, Seminole County has experienced, through careful planning and
influenced by various market forces, several shifts in the sizing and geographic
clustering of specific development, including office, industrial, and multi-family residential
uses. Understanding recent trends in land use changes in addition to the existing land
use picture of Seminole County more clearly highlights the path from where Seminole
County has been to where Seminole County desires to go.
Non population based employment generation has typically been spurred by office and
industrial uses. While other commercial uses, such as retail, generally exist to serve the
needs of existing population, these core uses have long existing as fountains of
employment attracting con-esponding workforces. In addition, noting the geographical
distribution of multi-family housing can function as an additional indicator of major
geographical employment centers.
The economic analysis focuses on the past development trends of the office, industrial,
and multifamily residential uses and highlights the existing geographic clustering of
those same uses.
The most notable highlights from the trends analysis follow.
In support of recent population growth and corresponding increases in
employment, approximately 26 percent of all Retail and Office square footage in
Seminole County has been constructed and added to the tax roll in the last 7
years. Furthermore, more than 55 percent of all existing Office and Retail
development has been constructed since 1990. The relatively high proportion of
newer Retail and Office development indicate that the vast majority of these uses
are functionally adequate to serve the needs of the existing and future targeted
industries within Seminole County. This is further evidenced by the fact that less
than 17 percent of existing Retail space and only 13 percent of existing office
space was constructed prior to 1980.
• While opportunities for Office and Retail redevelopment certainly exist, in total,
Seminole County is likely well positioned to meet the needs of existing industries
in both the present and the near future.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GIATTING JACKSON KERCHER ANGLIN 6
SeminoleWay Industry and Facility Analysis -Executive Summary
On average, the functional age of Industrial development has exceeded that of
other non residential uses. Correspondingly, approximately 17 percent of existing
Industrial square footage and parcels were constructed between 2000 and 2007.
This older age is not necessarily indicative of a deficit in newer and suitable
Industrial space, as Industrial development typically exhibits more facile reuse
properties and is not as tightly tethered to population growth. The relatively older
age of Industrial development in Seminole County may however indicate a
decrease in Industrial land demand as the county transitions to other industries
and employment generators.
The complete detailed historical and development trends analysis can be found in the
SeminoleWay Industry and Facility Analysis main document.
Economic Development Resources
In order to craft the SeminoleWay vision and best identify the appropriate targeted
industry clusters and ascertain their feasibility and suitability for SeminoleWay, an
accurate inventory of the most relevant economic development resources within
Seminole County and the greater Orlando region was compiled by RERC. Before a
forward thinking approach can be fostered and policy, resource, and infrastructure gaps
can be remedied, it is necessary to understand the current economic development
resource inventory and its adequacy to support SeminoleWay target industries.
These economic development resources take the shape of existing infrastructure,
regulatory and incentive policies, financial resources, and educational support. Many of
the resources are offered by the economic development councils of Seminole County
and her municipalities, as well as Metro Orlando EDC, higher education systems, and
industry partnerships. Each tool is described more fully in the full report.
Regional Resources
Infrastructure Resources
o Telecommunications
o Orlando Intemational Airport
o Orlando Sanford Intemational Airport
Specific Seminole County Resources
Reaulatorv Resources
o HIP-TI Future Land Use Zone
o Fast Track Permitting
Financial Resources
o Jobs Growth Initiative Fund
o Qualified Target Industry Tax Refund Program Local Match
o Florida High Tech Corridor Council (FHTCC) Matching Grants
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 7
SeminoleWay Industry and Facility Analysis -Executive Summary
Education Resources
o University of Central Florida Technology Business Incubator Program
o University of Central Florida Technology Resources
o Seminole County Community Colleges
o Seminole County Public Schools K-12
Futures Analysis
The forward thinking SeminoleWay Vision can only be crafted with a precise
understanding of the existing economic industry conditions in Seminole County and the
region. A Futures Analysis will arm policy makers with a detailed picture of the current
economic landscape as well as begin to identify the appropriate paths leaders must
embark on to achieve the desired realistic economic and industry outcomes that are
feasible for the SeminoleWay corridor.
A futures analysis aims to quantify the economic potential for the SeminoleWay corridor
by accomplishing the following tasks:
1. Examining future industry formations to identify, rank, and measure potential
opportunities based on emerging sectors and clusters.
2. Identifying existing or future industries in the region and corridor which have
the greatest local competitive advantage.
3. Benchmarking clusters to measure how competitive a region is relative to
other similar regions or to the nation as a whole.
4. Indicating relative levels of supportable activity within the general study area.
Within that context, RERC worked with Innovation Insight, Inc. of Wesley Chapel, Florida
to conduct a Futures Analysis for the SeminoleWay Corridor, Seminole County, and the
greater Orlando Metro Area. Towards that effort, Innovation Insight completed a detailed
economic cluster analysis, conducted a multitude of interviews with industry leaders and
stakeholders within identified and targeted clusters, and detailed the relevant
infrastructure needs of targeted SeminoleWay economic clusters. General findings from
that work effort follows.
Economic Cluster Analysis
• Economic cluster analysis was popularized by Dr. Michael Porter of Harvard
in the 80s. It became very popular for its focus on competitiveness factors
that included innovation, economies of scale, knowledge production,
networks, and relationships in addition to traditional factor (cost)
considerations of traditional economic geography.
While cluster analysis has become the most popular paradigm utilized by
professional economic developers, the process of intentional creation and
incubation of regional economic clusters is still pooriy understood and
documented.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHERANGLIN 8
SeminoleWay Industry and Facility Analysis -Executive Summary
The effective geographic scale for cluster analysis is between national and
MSA levels. County and zip code-level geographic boundaries rarely can
contain a sufficiently comprehensive mix of supporting factors and industries
to constitute a true cluster. For that reason, county- and sub-county-level
analysis is best performed in context of the industrial makeup of the larger
metropolitan area.
Research Framework
The objective of this research is to empirically identify the best probable focus for
economic cluster development activity regarding the "SeminoleWay" region. The
best research framework will be one that comprehensively looks at both quantitative
(economic) data and qualitative (expert) feedback to rank and select cluster
candidates.
Given that the SeminoleWay region is too small for cluster analysis independent of
the larger county and MSA, we believe that the best cluster candidates for the
Seminole Way region should be selected from the intersection of:
• Competitive existing or emerging industry clusters at the MSA level, in which
Seminole County has a competitive foundation.
A competitive level of supporting industries that are at the intersection of
multiple MSA-level industry clusters.
An existing minimal basis of industries within the 4-zipcode area of the
Seminole Way relevant to MSA-level industry clusters.
Competitive MSA Clusters
In 2006, Innovation Insight conducted a comprehensive, empirical analysis of the
Metro Orlando region's most competitive economic clusters for the Metro Orlando
EDC. The study looked at occupational activity, federal procurement and grant
award activity, patent and intellectual property activity, and industry salary,
productivity, and specialization data. The study looked at recent historical trends and
forecasted five years into the future. The SeminoleWay cluster analysis takes
advantage of this very comprehensive body of regional data, and through
comparison with more recent data confirms that the 2006 study's findings are still
relevant.
The most competitive clusters overall were identified as the following:
• Information services
• Precision instruments (closely tied to "photonics and lasers")
• Basic health services
• Business /professional services
• Computer and electronic equipment (the fastest growing cluster overall)
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 9
SeminoleWay Industry and Facility Analysis -Executive Summary
• Higher education & hospitals
• Aerospace
• Hotel and transportation services
The following clusters were considered "emerging" -while not specialized in terms of
significant employment, they were found growing and attractive due to other features
such as salaries, productivity, and procurement activity.
• Arts and. media (tied to "film and entertainment" as well as "digital media")
• Construction machinery and distribution equipment
• Nondurable industry machinery
• Financial services and insurance (one of the highest paying clusters)
• Nonresidential building products
Metro Orlando Industry Clusters
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REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN ~ ~
SeminoleWay Industry and Facility Analysis -Executive Summary
Metro Orlando MSA versus Seminole County: Cluster Specializatbn and Employment
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The previous "bubble" chart compares regional cluster specialization (horizontal axis)
against Seminole County specialization (vertical axis). The size of the bubbles
represents relative estimated employment in Seminole County. Essentially, the farther to
the top right (green quadrant) a cluster is, the more competitive it is both in the County
and the region.
The MSA-level cluster data was compared with the most recent available industry data
at the county and local level. The best foundation for economic development activity in
the Seminole Way area must reflect an intersection of regional, county, and local cluster
industry advantages. The following chart compares the overlap of:
• The most competitive regional-level clusters (bottom left circle)
• The clusters in which Seminole County has a disproportionate share of the
region's employment (top circle)
• Clusters in which Seminole County has a significant basis of industries that
are supporting industries to the region's top clusters (bottom right circle).
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 11
SeminoleWay Industry and Facility Analysis -Executive Summary
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The strongest intersection of MSA clusters with strong Seminole County economic
activity as primary industries or support industries include:
• Financial Services and Insurance
• Technical Research and Consulting
To a lesser extent, the following clusters also show strong intersection:
• High-Tech Information Services
• Business Services
• Hotels 8~ Transportation Services
• Architectural & Engineering Services
• Higher Education & Hospitals
• Wiring Devices 8 Switches
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 'I 2
SeminoleWay Industry and Facility Analysis -Executive Summary
Cross-Cutting Recommendations and Observations: Clusters
The objective of the empirical cluster research was to identify a few industry clusters
with an existing foundation, and synergy with regional growth and strengths.
The interviews and background research extended these goals to identify the
feasibility of promoting core clusters as a long-term economic development strategy
that complements, but does not compete with, other regional efforts in these clusters.
Four "core" clusters were identified that met these criteria:
• Financial services and information services
• Digital media including modeling and simulation, film and broadcasting,
themed entertainment and animation/game development
• Life sciences including biotech and medical instrumentation
• Technical and research services including civil and environmental
engineering and to a large extent architectural and engineering services
Based upon the research, we further refine the recommended strategies for the core
clusters as follows:
Green biotech: the intersection of plant-based biotech and biofuels research
and production. For the life sciences cluster, focus on the availability of a wet
lab facility for small businesses, providing cluster-specific ongoing training
and seminar resources, identify and foster intermediary manufacturing
solutions for enzymes, pharmaceuticals, and other biologicals to encourage
local growth and retention, build shell facilities to support build-in biotech/life
sciences companies, and develop a zoning and construction plan for
additional greenhouses and dedicated agricultural property to support plant-
based research and development, research trials, and contract and
intermediary manufacturing of biologicals. Develop a cellulosic enzyme
production strategy to support Florida's growing ethanol biofuels industry in
partnership with UCF researchers and major blended fuels consumers such
as FPL Energy.
Green Buildings: a starting point for the region's technical, civil,
environmental and related engineering services industry, which constitutes
much of the technical and research services cluster. This is a desirable
cluster in terms of wages and growth, but its growth is largely driven by local
development activity. Given Governor Christ's endorsement of Green
Building concepts and the relative lack of LEED-certified engineers in Florida,
a consortia-based approach to reducing the costs for local firms to certify
their engineers can help to reduce import of LEED-certified engineering
services and increase the ability of local firms to compete for projects both
inside and outside of Florida.
• The financial services /information services cluster will benefit from
continued support of the Heathrow /Lake Mary region. However, for
purposes of the Seminole Way corridor, an increased focus on smaller
companies (10-40 employees), an extension of efforts Eastward along Lake
Mary Boulevard, and along-term plan to map, improve, and promote quality
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 13
SeminoleWay Industry and Facility Analysis -Executive Summary
broadband /wireless telecom, power, and transportation infrastructure in that
area will help to increase the attractiveness and competitiveness of that area
for financial and information services companies.
The digital media media cluster has tremendous potential for the region. A
strong incubation and small business support strategy will most complement
Orlando's developing Creative Village concept and the Florida Interactive
Entertainment Academy (FIFA), particularly as there is evidence that much of
the industry is characterized by freelancers and home-based service
providers. The strategy for this cluster should support the recent Digital
Media Banner Center awarded to Seminole Community College, and
extending its services and benefits to other SCC campuses. This cluster will
also benefit from services and resources to help freelancers and small
businesses convert and stay abreast of the latest digital /high definition tools
and standards. This cluster may also benefit the most from the availability of
an incubator or other shared facilities supporting very high internet broadband
capabilities and perhaps shared computational/rendering farms and
audio/visual studios.
• The Orlando-Seminole International Airport is potentially a tremendous asset
to the Seminole Way region. However, its potential will remain largely
unfulfilled from an economic development standpoint unless its portfolio of
national and international direct flights can be significantly increased. Its
value for the core clusters includes:
• Access to clients and markets and other business units by the financial
services sector. However, most travel in this cluster is probably focused
through the Orlando International Airport.
• Flexible building shells for the life sciences /biotech cluster.
• Hobby /executive pilot resource for all clusters. Business /office park
property near the airport will be attractive to corporate CEOs, founders
and entrepreneurs with active piloting interests.
• Available undeveloped property
Each of the "core" industry clusters discussed (life sciences, digital media,
financial services /information services, and technical /research services)
identified broadband internet connectivity as a competitiveness factor. For
life sciences and technical /research services, this is probably mostly a
matter of preference that will be addressed by market forces (they will pay for
what the level of connectivity they need). However, for financial /information
services and especially digital media, broadband connectivity can be a "make
or break" competitiveness issue in the next ten years.
Financial services products and transaction processing are increasingly
reliant upon internet connectivity, and trends within this industry are toward
globalization of business processes (geographic distribution of business
units) that require spotless and continual broadband connectivity. Perhaps
most important (anecdotally) is the perception of overall consistency and
quality of all telecommunications services available to this industry versus
ubiquitous broadband availability.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 14
SeminoleWay Industry and Facility Analysis -Executive Summary
Digital media companies will have the greatest, and fastest growing needs for
connectivity in order to communicate with clients, deliver large, dense media
content, to stream audio and video, and even for remote processing and
computing tasks. Increasing the broadband connectivity for a building can
vary tremendously by location and service provider, resulting in 3-10x
increase in costs for both infrastructure (cable and fiber) as well as monthly
service. In consideration of these costs and the fact that much of this cluster
consists of small companies and freelancers, the best strategy may be to:
Create a county "broadband map", including which buildings already are
wired to 1000baseT ethernet, the location of fiber trunks (connecting a
building to a trunk across the street or further can cost an additional
$60,000 or more), and which buildings already have OC-3 or greater
connections.
Build up a few "islands" of broadband, including a business incubator and
possibly a few other multi-tenant office buildings as supported by demand
with OC-3 or greater connections. These buildings may require
inexpensive cellular repeaters to further support ubiquitous connectivity.
It should be noted that 802.11# wireless "hotspot" availability was not
identified as a significant issue for any of the interviewed clusters.
Land Use Analysis
Figures and Tables
The figures and tables referred to within the Land Use analysis section can be found
in the full SeminoleWay Industry Analysis report. For ease of use, figures 1, 2 and 6
can be found immediately following this executive summary.
Study Corridor and Methodology
The Seminole Way study corridor generally runs one mile along either side of the SR
417 from the county boundary on the south to Interstate 4 on the north (See Figure
1). The section of Interstate 4 between the south side of Lake Monroe and CR 46A
is also included within the study corridor. The corridor goes through the cities of
Sanford, Winter Springs, and Oviedo and Seminole County. In terms of evaluating
development opportunities, the analysis looked into properties that can be reached
within a 1-mile drive of interchanges along the study corridor through the existing
roadway network. Additional areas of potential development opportunities were
considered in the areas north of SR 46 and east of Interstate 4, and along the Lake
Mary Boulevard Extension.
Composite Future Land Use Map
The Seminole Way Corridor includes a variety of future land use designations.
Within one-mile of the corridor, the majority of land is designated for commercial and
office uses, mixed-use and planned development (PD), and residential land uses.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 15
SeminoleWay Industry and Facility Analysis -Executive Summary
On the north and south sides of the Lake Jesup shore, SR 417 is flanked by
properties that are designated recreation, conservation, or conservation overlay land
uses. On the north side of Lake Jesup, and within the City of Sanford, a substantial
portion of the corridor is lined on both sides by properties under the suburban estates
designation. Office, commercial, PD/mixed-use, and higher intensity PD
designations are generally located around interchanges between SR 417 and major
arterial roadways, near the Sanford Intemational Airport, and near the Interstate 4
interchanges. Figure 2 is a generalized future land use map comprised of future land
uses from the partner jurisdictions.
Transportation Network
Figure 3 is a map of the Seminole Way Corridor and the system of street network
that connect to it. SR 417 provides regional mobility benefits to Seminole County
and the rest of Central Florida as an alternative north-south corridor to Interstate 4
and US 17-92. However, more importantly, it provides tremendous highway
accessibility benefits to the county's residents, as it connects key activity centers
such as the Lake Mary business parks on its northern terminus, the Sanford
Intemational Airport around its midpoint, and the University of Central Florida area on
its southern end. Highway access points have traditionally been the first areas to
develop and redevelop along a limited access highway. In terms of the Seminole
Way Corridor, these access points are provided around ten interchanges on the SR
417 and Interstate 4. Interchanges are located at an interval of 1 to 2.5 miles, except
where SR 417 crosses Lake Jesup.
The network of state and county roadways that link to Seminole Way are important
corridors that will facilitate and serve future growth. These roadways include: US
17-92, Orange Boulevard, SR 46, CR 46A, Lake Mary Boulevard, Airport Boulevard,
CR 427, and Lake Mary Boulevard Extension in the City of Sanford. In the Cities of
Winter Springs and Oviedo, SR 434 and Red Bug Lake Road are important
roadways that provide direct access to SR 417 and connect these cities to the rest of
the county. Lastly, Aloma Avenue (SR 426) is the County's southern gateway for
residents and visitors using SR 417.
Environmental Constraints
Future development and redevelopment efforts along the Seminole Way Corridor will
need to consider the environmental conditions along the Corridor. Figure 4
illustrates the wetlands, designated environmental protection areas, and
conservation overlays designated by the different jurisdictions' Future Land Use
maps. The city of Winter Springs and Seminole County both have a conservation
overlay FLU designation that calls for additional review and analysis prior to
development. Both jurisdictions' comprehensive plans suggest that the conservation
overlay designation is not intended to prevent development, but rather is used to
identify sensitive areas that need further review to determine the extent of allowable
development and the needed mitigation. If the conservation overlay area is
determined developable and all mitigation requirements have been met, the
underlying land use on the FLU map will apply.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 16
SeminoleWay Industry and Facility Analysis -Executive Summary
The majority of the properties around Lake Jesup and Lake Monroe are wetland
areas and has been designated as conservation overlay areas. Smaller wetland
areas are scattered throughout the corridor and sporadically along the Seminole Way
Corridor.
Development Opportunltles
A detailed parcel-level analysis using GIS software was conducted to determine the
extent and location of development opportunities along the study corridor. Properties
that can be reached within aone-mile driving distance from interchanges using
existing roadways would benefit most from the corridor's visibility and access are
therefore considered key development parcels. The following criteria were used to
further define the actual development opportunity among the one-mile network
parcels:
1. Properties have to be one acre or larger.
2. Properties have to be either totally vacant or underutilized. Vacant properties
are identified based on county-provided GIS data. Underutilized parcels are
those parcels that have improved values of less than 40% of total property
values (land plus improvement values) based on data from the County's
property tax appraiser.
In addition to analyzing properties that are within aone-mile network distance of
interchanges, two additional development opportunity areas were identified. The first
area includes properties that are generally within the comprehensive plan-designated
Sanford I-4 High Intensity PD area and the County's Higher Intensity PD area. For
the purposes of this analysis, this potential development area is called the "SR 46
HIP Area" and includes the properties bounded by Interstate 4 on the west side, the
CSX rail line on the north side and SR 46 on the south side. This subset is further
screened by the same two criteria used for the one-mile network development
opportunity around interchanges (see previous paragraph) and excludes properties
that are already previously identified in the first subset.
The second potential development area is made up of properties that are within a
mile of the Lake Mary Boulevard Extension. This area is considered a potential
growth area because of its proximity to the airport and the access benefits provided
by the Boulevard. As with the "SR 46 HIP Area", the development opportunity is
made up of parcels that are one acre or larger and vacant or underutilized.
Figure 5 illustrates potential development opportunities, made up by vacant and
underutilized properties, along the Seminole Way Corridor. Figure 6 shows the
development opportunity areas grouped by interchange areas and growth areas.
The development opportunity around the interchanges (not including the SR 46 HIP
Area or the Lake Mary Blvd. Ext. Area) total more than 3,600 acres in land area. Of
this, more than 60% are underutilized properties and less than 40% are vacant
properties, in terms of land area. Close to 70% of the properties are between 1 acre
and 5 acres, and around two thirds of these are underutilized properties. Among
the different interchange areas, the cluster around Rinehart Road/SR 46 and around
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 17
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US 17-92 offer the largest land area of development possibilities with close to 1,000
acres of vacant or underutilized properties.
If the additional growth areas (SR 46 HIP Area and the Lake Mary Boulevard
Extension Area) are considered, there is an opportunity to develop or redevelop up
to 8,000 acres of properties corridor-wide, doubling the total development opportunity
existing around interchanges. The bulk of the development opportunity is
concentrated near the airport along Lake Mary Boulevard Extension. Of the total
development opportunity, two-thirds are properties that are considered underutilized
and a third, or around 3,500 acres, are currently vacant. Of the total 1,100 paroels
that make up the total development opportunity, almost 60% are between 1 and 5
acres in size. The rest are properties that are larger than 5 acres and make up
almost 80% of the total land area of potential development.
The results also show that more significant development opportunities exist around
interchanges and key anchor areas (the Sanford International Airport and the Lake
Mary office parks) north of Lake Jesup than on the comdor's southern segment.
When combined with the additional growth areas, the northern segment accounts for
more than 80% of the development opportunity in the entire corridor.
This first series of analysis does not take into consideration any environmental
considerations and includes properties in all FLU designations.
Future Land Use Designations of Development Opportunity Areas
Figure 7 in the full report shows the potential development opportunity areas and
their future land use designations. The map shows that a majority of the large
parcels identified in development opportunity areas are under a mixed use or
planned development (PD) designation. Clusters of smaller parcels are located in
areas designated commercial and office use. Along the northern shore of Lake
Jesup and near the airport, some parcels considered redevelopable are under the
suburban estates FLU designation.
Land Use Conclusions
The Seminole Way Corridor has significant opportunities for development
and redevelopment.
An estimated 8,000 acres of properties are ripe for development and
redevelopment along the Seminole Way Corridor, around the SR 46 HIP area,
and along the Lake Mary Boulevard Extension. These properties are made up of
parcels which are currently vacant or underutilized and are larger than one acre
in size. Along the SR 417 corridor itself, and immediately around interchanges,
around 3,600 acres of properties are considered ready for
development/redevelopment.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 18
SeminoleWay Industry and Facility Analysis -Executive Summary
• The Development Opportunities are concentrated around key interchanges
and anchor uses north of Lake Jesup. The higher concentration of
interchanges along the Corridor north of Lake Jesup allows for more parcels to
be targeted as potential development opportunities. Additionally, the presence of
the Sanford International Airport and the concentration of professional business
parks in Lake Mary further strengthen the possibility for development activity in
the SR 46 HIP Area and along Lake Mary Boulevard Extension. More modest
development opportunities with smaller parcels of underutilized and vacant
properties can be found south of Lake Jesup.
• The environmental considerations could substantially impact the potential
development opportunities along the Corridor. When screened for potential
environmental constraints, the total acreage of developable and redevelopable
properties was reduced to 3,300 acres, less than half of the original potential
development opportunity subset. Although this is a relatively conservative
approach to determining development potential, the study team feels that without
a detailed analysis of the nature and extent of the environmental constraints, this
figure more accurately quantifies the early phase opportunities for the Seminole
Way Corridor development. A next-step study can be undertaken to more clearly
understand the limitations that are brought by the environmental conditions,
especially those around Lake Jesup.
• Existing future land use policies of the County and the partner
municipalities are supportive of the Seminole Way Corridor future goals.
Comprehensive plan policies and future land use maps from all the partner
jurisdictions generally support and allow the types, patterns, and densities of
development of the industries targeted for the Seminole Way Corridor. All the
jurisdictions call for some form of mixed-use development, planned development,
or commercial and office uses around the corridor's interchanges. Around the
airport and near the SR 46 HIP area, the County and the City of Sanford also
have policies encouraging mixed-uses, light industrial uses and planned unit
developments.
As a next step, the County and the partner municipalities can incorporate
stronger policies specific to Seminole Way and its implementation as part of their
comprehensive plan updates and other policy changes. The goals of the
Seminole Way Corridor should also be included in vision plans that are
developed for areas along the corridor to reinforce the vision and provide
guidance to the private development community. Lastly, a concerted strategic
planning effort involving various jurisdictions can be conducted to more clearly
understand and cany out the necessary regulatory changes to implement the
goals for Seminole Way.
• The majority of the parcels that are considered ripe for development are
underutilized properties and not vacant properties. Because of this,
additional incentives may be necessary to encourage redevelopment.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 19
SeminoleWay Industry and Facility Analysis -Executive Summary
Jurisdictions can explore various incentive strategies to promote the properties'
redevelopment to high-technology and high growth industries. These incentives
may include assistance for providing infrastructure (i.e. new roadway
connections), streamlined permitting processes, and interlocal agreements
between partner jurisdictions to assist property owners that abut or straddle
jurisdiction boundaries.
• A strong partnersh/p and coordination between jurisdictions is necessary.
This feasibility study is a great start for the various jurisdictions to come together
and define the future vision for Seminole Way. As the program continues and
changes in the regulatory framework are made, an even stronger partnership and
coordination is necessary among the different jurisdictions to ensure the
Corridor's success.
Next Steps
RERC recommended next steps include:
• Completion and further interpretation of spatially specific land use, traffic and
supporting infrastructure analysis at the SR 417 interchange and parcel
specific level.
• Identification of secondary requirements for housing, retail or other support
facilities consistent with the demands of development expected within the
targeted industries.
• Further description of the competitive environment for the SeminoleWay
targeted industries.
• Review of existing economic development SeminoleWay marketing plans
and evaluation of alternatives for long term SeminoleWay marketing
initiatives.
• Evaluation of existing economic development and incentive policies and
proposed modifications as they relate to the SeminoleWay targeted
industries at specifically identified locations.
• Identification of key persons responsible for marketing initiatives and
formulation of SeminoleWay progress benchmarks.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 2~
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SeminoleWay Industry and Facility Analysis -Draft
Land Use Analysis
Study Corridor and Methodology
The Seminole Way study corridor generally runs one mile along either side of the SR
417 from the county boundary on the south to Interstate 4 on the north (See Figure
1). The section of Interstate 4 between the south side of Lake Monroe and CR 46A
is also included within the study corridor. The corridor goes through the cities of
Sanford, Winter Springs, and Oviedo and Seminole County. In terms of evaluating
development opportunities, the analysis looked into properties that can be reached
within a 1-mile drive of interchanges along the study corridor through the existing
roadway network. Additional areas of potential development opportunities were
considered in the areas north of SR 46 and east of Interstate 4, and along the Lake
Mary Boulevard Extension.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 61
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SeminoleWay Industry and Facility Analysis -Draft
Composite Future Land Use Map
The Seminole Way Corridor includes a variety of future land use designations.
Within one-mile of the corridor, the majority of land is designated for commercial and
office uses, mixed-use and planned development (PD), and residential land uses.
On the north and south sides of the Lake Jesup shore, SR 417 is flanked by
properties that are designated recreation, conservation, or conservation overiay land
uses. On the north side of Lake Jesup, and within the City of Sanford, a substantial
portion of the corridor is lined on both sides by properties under the suburban estates
designation. Office, commercial, PD/mixed-use, and higher intensity PD
designations are generally located around interchanges between SR 417 and major
arterial roadways, near the Sanford International Airport, and near the Interstate 4
interchanges. Figure 2 is a generalized future land use map comprised of future land
uses from the partner jurisdictions.
Future Land Use Policies
This section of the memo describes the various policies in each jurisdiction related to
future land uses along the Seminole Way Corridor. A review of comprehensive plans
from the various jurisdiction, reveals that aside from including language that pertain
to densities/intensities and uses allowed within each future land use (FLU) type,
each jurisdiction also has general policies that address the land use expectations
around SR 417 and Interstate 4 interchanges. In general, the current comprehensive
plans allow the types of high-technology and high-growth industry land uses intended
for Seminole Way. In most cases, these land uses will fall in future land use districts
that call for planned unit developments, mixed-use developments, commercial,
office, and light industrial uses.
Seminole County's Future Land Use Policies
Policy FLU 5.6 on Higher Intensity Planned Development (HIP) Purpose: The Higher
Intensity Planned Development (HIP) land use designation is designed as a mixed
use category which combines an aggressive strategy to attract specific "target
industry," minimize urban sprawl, provide affordable housing opportunities, and
alternative transportation strategies.
Table 1: Seminole County Future Land Use Categories
FLU Densityl Uses and Conditions
Intensity
Rural Resldentlal 1 du/3ac ~ Single-family residential, agriculture, churches, public
elementary schools, country clubs (over 10 ac in size),
recreational uses, and some institutional uses
Suburban Estates 1 du/ac ~ Detached single-family homes, general rural uses, public
schools, and some institutional uses
Low-density 4 to 7du/ac ~ Detached single-family homes, public schools, and some
Resldentlal institutional uses
Medium-density 10du/ac ~ Single-family homes, patio homes, duplexes, multi-family
Residential units, mobile home parks, public schools, some
institutional uses, and conversion of residential uses to
professional offices
High-density Greater than ~ Condominiums, town houses, apartment hotels, lodging
Residential 10du/ac houses, motels, some institutional uses, and public
schools
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 63
SeminoleWay Industry and Facility Analysis -Draft
Table 1: Seminole County Future Land Use Cates~ories (cont'd.
FLU Densityl Uses and Conditions
Intensity
Office 0.35 FAR ~ Conversion of residential structures to professional office uses,
general office development, libraries, laboratories and day care
centers, public schools, and other institutional uses
Commercial 0.35 FAR ~ Neighborhood convenience store, shopping centers, retail sales
and commercial services, highway-oriented businesses and
outdoor advertising, amusement and commercial recreation, day
care hotels and motels and institutional uses
Industrial 0.65 FAR ~ Light manufacturing, distribution and terminals, automobile
shops, warehousing, wholesale greenhouses, lumberyards and
machinery sales, trade shops and schools, medical clinics,
publishing plants, institutional uses, stockyards, public schools,
adult entertainment establishments
Mixed Development R@S: 20 du/aC ~ Residential uses (single-family and mufti-family), commercial,
Comm & Ind: 0.35 office, hotel, service, very light industrial uses, and on-site
FAR facilities such as utilities and recreation areas.
Office: 1.0 FAR
Planned Vari@s ~ Mixed uses of residential (varying types and densities), office,
Development commercial, industrial uses, public schools, utilities and
recreation areas
At least 25% of site should be dedicated to recreation and
common open space
Higher Intensity PD, 20 dWac ~ Mixed of uses intauding commercial developments, corporate
Core and Transitional 0.35 FAR business parks, office complexes, industrial parks and attendant
Areas retail, commercial, service, and hotel uses, public schools, and
medium to high density residential uses
Higher Intensity PD, 20 to 50 dWac ~ Basic industry with regional market including those listed by the
Target Industry 1.0 FAR County as Target Industry Uses (See Table 2)
High growth industries such as information-based and health
care businesses; Manufacturing, distribution, industrial and rail
dependent uses located in the Rand Yard Area
High density residential uses and low to medium residential uses
as buffer from existing residential subdivisions
Commercial uses located adjacent to the Seminole Towne
Center Mall, located along major roadways, and as an accessory
use to office uses
Public schools
Higher Intensity PD, 50du/ac ~ Industrial parks, corporate business parks, office complexes,
Airport 1.0 FAR commercial developments and retail, service and hotel uses,
medium to high density residential uses, and public schools
PubiidQuasi Public Varies ~ Public and private recreation, education and library facilities,
public schools, public safety facilities, and utility and
transportation fatalities
Recreation Varies ~ Public and private recreation and open space
Conservation Varies ~ WeUand areas and 100-year flood plain areas, public and
Overlay privately owned open space, recreation and water management
areas, game preserves and wildlffe management areas,
agricultural and silviculture) uses
When adjustments are made (demonstrating that certain
properties are neither a wetland nor a flood prone area) or
measures are made to mitigate impacts to wetlands or floodplain,
the underlying land use designation as indicated in the FLU map
will prevail
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 65
SeminoleWay Industry and Facility Analysis -Draft
Table 2 shows the "Target Industry Uses" outlined in the current Seminole County
Comprehensive Plan. Other industries may also be considered Target Industries if
they meet the criteria of being a basic industry and providing jobs at or above 80% of
the County's average annual wage and are consistent with the terms of the County's
Jobs Growth Incentives Ordinance.
Table 2: Seminole County Target Industries
Office Uses Manufacturln Hl h Tech
• Associations Plastics and Commercial Research & Development
• Publishers Printing Space Technology
• Law Firms Electronics/Mechanical Simulation & Training
• Certified Public Accountants Assembly Laser Technology
• Headquarters Film & TV Support Robotics
• Auto Parts Computer Software
• Fasteners/Spacers Computer Hardware
• Construction Products • Testing
• Food Processing Medical Labs
• Machinery • Telecommunications
• Transport Aircraft
• Maintenance and
Modification
• Aircraft Manufacturin
Distribution Financial Services Other
• Food Products Data Centers • Long Stay Tourism
• Consumer Products Insurance Hotels & Lodging
• Restaurant/Commissary & Banks Hospitals
• Portion Control Claims Office • Sports Associated
• Airline Services Fulfillment Centers Industries
• Aircargo/Mail Services Business Services International Trade
• Film & TV Support Health Services
• Durable Goods Distribution Engineering
• Non Durable Goods
• Distribution
City of Oviedo Future Land Use Policies
Policy 1.1.27 on Seminole Way: "A regional commercial, business, and industrial
center shall be promoted within the general area lying within a 5,000 foot radius from
the intersection of Seminole Greeneway and Mitchell Hammock/Red Bug Lake
Road."
Table 3: City of Oviedo Future Land Use Categories
vvnaaa~,
FLU ,_.___,... Uses and Conditions
Rural Resldentlal Less than 1du/ac •Single-family residential, agriculture, public elementary
schools, recreation uses
Low-density 1 to 3.5du/ac Detached single-family homes, public schools,
Resldentlal 0.4 FAR institutional uses, recreation and conservation uses
• Can be a Planned Unit Development (PUD) if at least
65% of acreage is dedicated to single-family residential
Medium-density 3.6 to Sdu/ac •Single-family homes, duplexes, cluster homes, patio
Residential 0.45 FAR homes, public schools, institutional uses, recreation and
conservation uses
• Can be a PUD 'rf at least 55% of acreage is dedicated to
single-family residential uses
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 66
SeminoleWay Industry and Facility Analysis -Draft
Table 3: Citv of Oviedo Future Land Use Cates~ories (cont'd.
FLU Density/ Uses and Conditions
Intensity
Office 3.5 du/ac •Single-family uses, public schools, commercial or
0.30 FAR professional office, institutional, recreation and
conservation uses
Commercial 0.5 FAR • Commercial and office uses, public schools, institutional
uses
• Can be a PUD if at least 50% of acreage is dedicated to
commercial and office uses
Industrial 0.6 FAR Wholesale commercial, manufacturing, warehousing,
and other industrial uses, institutional and conservation
uses
• Can be a PUD ff at least 50% of acreage is dedicated to
industrial land uses
General Planned Res: 5.0 du/ac • Minimum of 15 acres
Unit Development Comm: 0.5 FAR • Must be served by collector, arterial roadways.
Office: 0.3 FAR
Ind: 0.5 FAR
Downtown Mixed SF Res: 4 to 6du/ac Residential uses, commercial, office, and institutional
Use MF Res: 10 to uses
50du/ac
Oic/Comm: 0.30 to
0.75 FAR
Inst: 1.0 FAR
Public ~ FAR Public, public institutional, recreation and conservation
Conservation 1 du/ 10ac Development restricted to protect wildlife habitat,
wetlands, vegetation
• Conservation, passive recreation, low-density single
family residential, and limited agriculture
Winter Springs Future Land Use Policies
Policy B(1)(e) on Seminole Way: "The intent and purpose of the Greeneway
Interchange FLU is to:
(1) Provide an economic benefit in terms of employment opportunities and
increased tax base;
(2) Locate higher intensity uses where roadway capacity can accommodate
increased traffic due to short trip distances to major roadways and increased lane
capacity at major intersections;
(3) Locate higher intensity uses along major roadways and intersections to
reduce development pressures in other areas, thereby minimizing the road
congestion and community compatibility impacts."
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 67
SeminoleWay Industry and Facility Analysis -Draft
Table 4: Citv of Winter Sprins~s Future Land Use Catestories
FLU Density/ Uses and Conditions
Intensity
Rural Residential Up to 1du/ac Large lot single-family residences, agriculture
1.1 to 3.5du/ac Detached single-family homes
Medium-density 3.6 to 9du/aC Residential uses including detached homes, duplexes, villas,
Residential cluster housing, townhouses, mobile homes, manufactured
homes and apartments
High-density 9.1 to 12du/aC • Attached multi-family housing including apartments and
Residential condominiums
Mixed Use 12du/aC Low, medium and high density residential; commercial uses
1.0 FAR (retail and office); light industrial; educational facilities;
recreational facilities and compatible public facilities
• Single use type cannot be more than 75°k of total
development
• Minimum of 10 acre site
Town Center (Higher 2.0 FAR/36 du/aC Higher density and intensity mixed-use development
Intensity PD) including: retail, office, cultural, recreational and
entertainment facilities, high-density residential, or hotels
Greenway 1.0 FAR/ 12 du/aC Higher density and intensity mixed-use development
Interchange (Mixed- Regional-type commeroial uses including hotels, restaurants,
Use) convention centers, professional training facilities, office
parks, and educational and research facilities
• Medium to high-density residential uses are conditionally
allowed
• Office parks limited to providing professional-type services
such as financial, high tech, educational and research, data
processing, communications, engineering, architectural, legal,
real estate, and medical laboratories
Industrial 0.5 FAR Light and heavy industrial uses typically connected with
manufacturing, assembly, processing or storage of products.
• Not allowed on properties along Lake Jesup
Public/Semi-public 0.6 FAR • Properties owned, leased, or operated by a govemment and
not-for-profit entity, such as civic and community centers,
hospitals, libraries, police and fire stations, and govemment
administration buildings, churches, institutions, group homes,
cemeteries, nursing homes, emergency shelters and schools
Recreation 8~ Open 0.25 FAR Park and recreation facilities owned by the City, private parks
Space and golf courses, recreation facilities located at area schools.
• Open space includes areas deemed worthy of preservation,
such as common open spaces in private developments and
signficant right-of-way buffers along major roadways and
drainage systems
Conservation Not developable • Land reserved for preservation and protection of Winter
Springs' naturel resources
Conservation Varies • Areas that potentially contain wildlffe habitat, hydric soils and
Ov@rlay wetlands, special vegetative communities, areas within 500'
of public well, 100-year floodplain areas, and other areas that
have environmental or topographic constraints
• Not intended fo prevent development, but rather used to
identify sensitive areas that need further review to determine
extent of allowed development and needed mitigation
• If conservation overlay area is determined developable and all
mitigation requirements have been met, the underlying land
use on the FLU map will apply
• Properties are encouraged to undergo PUD procedure (site
specific plan approval, cluster development)
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GIATTING JACKSON KERCHER ANGLIN 68
SeminoleWay Industry and Facility Analysis -Draft
Sanford Future Land Use PolPcies
Policy 1-2.2.7: I-4 High Intensity Center (HI). ""I-4 High Intensity" is a planned mixed
use designation intended to promote and regulate anticipated development within
the vicinity of the I-4/State Road 46 Interchange. I-4 High Intensity land uses shall
include commerce, industry, and high density residential development."
Policy 1-2.3.2 on Seminole Way/I-4: "The "Westside Industry and Commerce" (WIC)
area is a planned mixed use designation intended to promote development of a
major center of commerce and industry in the vicinity of the West SR 46 corridor.
The corridor's proximity to 1-4 as well as the planned Eastern Beltway provides
access to regional markets and a substantial labor force. The CSX Main Rail Line
also provides a transportation amenity of regional significance."
Policy 1-2.4.9 on Orlando Sanford Airport: "The "Airport Industry and Commerce"
(AIC) land use designation is ahigh-intensity mixed use policy for managing lands
comprising the Orlando Sanford Airport and adjacent lands capable of supporting a
variety of residential, commercial and industrial uses."
Table 5: Citv of Sanford Future Land Use Categories
FLU Densityl Uses and Conditions
Intensity
Suburban Estates 1 du/acre Detached single-family homes
Low-density 6 du/ac Detached single-family homes and mobile homes
Residential
Medium-density 6.1 to 15 du/ac Both single-family and multi-family uses including
Residential detached homes, duplexes, villas, cluster housing,
townhouses, manufactured homes and apartments
High-density 15.1 to 20du/ac • Attached multi-family housing including apartments and
Residential condominiums
Commercial (NC & 0.35 FAR Regional to neighborhood commercial uses, business
GC) and professional offices, convenience stores, specialty
shops, shopping centers, restaurants, and other similar
uses
I-4 High Intensity/ Comm: 1.0 FAR • Commercial, industrial, and high density residential
Higher Intensity Mixed Ind: 0.50 FAR uses
Use Res: 50 du/ac
WaterfronUDowntown Comm: 2.0 FAR • Centralized residential, government, cultural,
Business Ind: 1.0 FAR institutional, and general commercial activities
District/Higher Intensity Res: 50 du/ac
Mixed Use
Westside Industry & Comm: 0.35 FAR Intensive industrial development, commercial
Commerce/ Mixed Use Ind: 0.50 FAR development related to industry
Res: 20 du/ac
Airport Industry & Comm: 0.5 FAR Encourage the expansion of industrial land uses where
Commerce/ Mixed Use Ind: 1.0 FAR airport noise impacts will prohibit residential
Res: 50 du/ac development
• Mixed use developments compatible with airport
operations including industrial and business parks,
office complexes, commercial and retail developments,
service and hotel uses, and medium to high-density
rental residential developments
Residential/Office/instit Comm: 0.35 FAR • Business and professional offices, high density multi-
utionaU Mixed Use Res: 20 du/ac family residential developments, and institutional uses
• Frequently serves as a transition area buffering
residential uses from higher intensity developments
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHERANGLIN 69
SeminoleWay Industry and Facility Analysis -Draft
Table 5: Citv of Sanford Future Land Use Catesrories (cont'd.
FLU Density/ Uses and Conditions
Intensity
Industrial 0.5 FAR Manufacturing, assembling and distribution activities,
warehousing and storage activities, other similar land
uses
Public/Semi-public 0.35 FAR Governmental administration buildings, public schools,
non-profit institutions, hospitals, arts and cultural
facilities, essential public service, private parks and
recreation areas
Parks & Open Space 0.25 FAR City-owned parks, open spaces, and recreational
facilities
Resource Varies • Wetlands and aquatic habitats, floodways and drainage
Protection/Conservatio ways, aquifer recharge areas, well field protection
n areas, upland wildlife habitats, and floodplains
• Development densities and intensities should respect
functions of wetlands, floodways, drainageways
Transportation Network
Figure 3 is a map of the Seminole Way Corridor and the system of street network
that connect to it. SR 417 provides regional mobility benefits to Seminole County
and the rest of Central Florida as an alternative north-south corridor to Interstate 4
and US 17-92. However, more importantly, it provides tremendous highway
accessibility benefits to the county's residents, as it connects key activity centers
such as the Lake Mary business parks on its northern terminus, the Sanford
International Airport around its midpoint, and the University of Central Florida area on
its southern end, Highway access points have traditionally been the first areas to
develop and redevelop along a limited access highway. In terms of the Seminole
Way Corridor, these access points are provided around ten interchanges on the SR
417 and Interstate 4. Interchanges are located at an interval of 1 to 2.5 miles, except
where SR 417 crosses Lake Jesup.
The network of state and county roadways that link to Seminole Way are important
corridors that will facilitate and serve future growth. These roadways include: US
17-92, Orange Boulevard, SR 46, CR 46A, Lake Mary Boulevard, Airport Boulevard,
CR 427, and Lake Mary Boulevard Extension in the City of Sanford. In the Cities of
Winter Springs and Oviedo, SR 434 and Red Bug Lake Road are important
roadways that provide direct access to SR 417 and connect these cities to the rest of
the county. Lastly, Aloma Avenue (SR 426) is the County's southern gateway for
residents and visitors using SR 417.
Environmental Constraints
Future development and redevelopment efforts along the Seminole Way Corridor will
need to consider the environmental conditions along the Corridor. Figure 4
illustrates the wetlands, designated environmental protection areas, and
conservation overlays designated by the different jurisdictions' Future Land Use
maps. The city of Winter Springs and Seminole County both have a conservation
overlay FLU designation that calls for additional review and analysis prior to
development. Both jurisdictions' comprehensive plans suggest that the conservation
overlay designation is not intended to prevent development, but rather is used to
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 7U
SeminoleWay Industry and Facility Analysis -Draft
identify sensitive areas that need further review to determine the extent of allowable
development and the needed mitigation. If the conservation overlay area is
determined developable and all mitigation requirements have been met, the
underlying land use on the FLU map will apply.
The map shows that the majority of the properties around Lake Jesup and Lake
Monroe are wetland areas and has been designated as conservation overlay areas.
Smaller wetland areas are scattered throughout the corridor and sporadically along
the Seminole Way Corridor.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 71
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Figure 3: Transportation Infrastructure Data Source: Seminole County
Figure 4: Environmental Constraints Data Source: Seminole County
SeminoleWay Industry and Facility Analysis -Draft
Development Opportunities
Analysis Assumptions and Methodology
A detailed parcel-level analysis using GIS software was conducted to determine the
extent and location of development opportunities along the study corridor. Properties
that can be reached within aone-mile driving distance from interchanges using
existing roadways would benefit most from the corridor's visibility and access are
therefore considered key development parcels. The following criteria were used to
further define the actual development opportunity among the one-mile network
parcels:
1. Properties have to be one acre or larger.
2. Properties have to be either totally vacant or underutilized. Vacant properties
are identified based on county-provided GIS data. Underutilized parcels are
those parcels that have improved values of less than 40% of total property
values (land plus improvement values) based on data from the County's
property tax appraiser.
In addition to analyzing properties that are within aone-mile network distance of
interchanges, two additional development opportunity areas were identified. The first
area includes properties that are generally within the comprehensive plan-designated
Sanford I-4 High Intensity PD area and the County's Higher Intensity PD area. For
the purposes of this analysis, this potential development area is called the "SR 46
HIP Area" and includes the properties bounded by Interstate 4 on the west side, the
CSX rail line on the north side and SR 46 on the south side. This subset is further
screened by the same two criteria used for the one-mile network development
opportunity around interchanges (see previous paragraph) and excludes properties
that are already previously identified in the first subset.
The second potential development area is made up of properties that are within a
mile of the Lake Mary Boulevard Extension. This area is considered a potential
growth area because of its proximity to the airport and the access benefits provided
by the Boulevard. As with the "SR 46 HIP Area", the development opportunity is
made up of parcels that are one acre or larger and vacant or underutilized.
Development Opportunity Areas (Vacant and Underutilized Properties)
Figure 5 illustrates potential development opportunities, made up by vacant and
underutilized properties, along the Seminole Way Corridor. Table 6 to 8 summarize
the development opportunity by location and by parcel size groupings (between 1
and 5 acres and larger than 5 acres). Figure 6 shows the development opportunity
areas grouped by interchange areas and growth areas.
The development opportunity around the interchanges (not including the SR 46 HIP
Area or the Lake Mary Blvd. Ext. Area) total more than 3,600 acres in land area. Of
this, more than 60% are underutilized properties and less than 40% are vacant
properties, in terms of land area. Close to 70% of the properties are between 1 acre
and 5 acres, and around two thirds of these are underutilized properties. Among
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 74
SeminoleWay Industry and Facility Analysis -Draft
the different interchange areas, the cluster around Rinehart Road/SR 46 and around
US 17-92 offer the largest land area of development possibilities with close to 1,000
acres of vacant or underutilized properties.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 75
~- ~ - •° ^
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LEGEND
Underutilized Parcels
_ 1 to 5 aws
_ Moro than 5 acros
Vacant Parcels
1 to 5 acres
_ Mon than 5 acros
Addkional Potential Development opportunities
SR 46 MIP Area
® Abng Lake Mary Blvd. E:t.
® 0 03 1A 20 Mlln
Figure 5: Vacant and Underutilized Properties
Data Source: Seminole County
,_ .
F
Figure 6: Development Opportunity Properties by Interchange and Growth Areas Data Source: Seminole County
SeminoleWay Industry and Facility Analysis -Draft
Table 6: Vacant Properties (including parcels under Conservation and Conservation
Overlay FLU)
Prapsrtles t~etweetr A+~rtles ar vaaat Prppsrtbs
1 and 8 awes than 8 aces than 1 aae
Vacant Ptopartiss
hk,nner d
raw Area
Mm6xd Tdai Aron
Number d row Arss Averalp larael
'
rero.h (arrea) Le la {ate ° PWnels (aaaa) sm (aa.~
<
Within 1 tulle of Intertlrerrpes
Rnehart R~adlSR 46 57 119.7 33 3.92.7 90 512.4 5.7
QZ46A 16 35.2 3 21.3 19 56.5 3.0
US17-92 28 56.0 13 171.6 41 227.6 5.6
34434 10 19.0 7 183.4 17 202.4 11.9
Fbd Bug LakeFii 20 50.0 14 233.8 34 283.8 8.3
34426 14 29.4 7 73.5 21 102.9 4.9
3~totalforAlllnt 145 309.3 77 1,078.3 222 1,385.8 8.2
Additional Growth Areas
3146 HPArea 6 15.6 22 248.6 28 264.2 9.4
Lake Mary Blvd E+der~on Area 89 172.5 52 691.6 121 864.1 7.1
3rbtdal for Addklonal Growth 75 188.1 74 910.2 149 1,128.3 16.8
220 506.0 228 3,055.2 593 3,581. 8.0
Table 7: Underutilized Properties
(including parcels under Conservation and Conservation Overlay FLU)
Propsrtkes between Properties All Under-tfllaad Pt+opertbs
- 1 and 6 saes than 5 aces then 1 arts
~~~~ IJimbar d Tow Arse tJimber d Tow Ara PMmbsr d Tow ArM A~erape fieroel
FlloMa (rasa) f~rak+ (arz'ea) PtlrGaks {aria) 9ae(aasa)
Wkhin 1 mH of Intsr~drenpss
Rnehart R~ad/SR 46 106 265.0 43 180.6 149 445.6 5.9
QZ46A 29 66.7 16 220.8 45 287.5 6.4
US17-92 71 163.3 34 523.6 105 686.9 6.5
31434 26 62.4 15 343.5 41 405.9 9.9
Fbd Bug Lake Fii 31 65.1 14 131.6 45 196.7 4.3
324'26 50 115.0 16 128.0 66 243.0 3.7
8ubtdalforAlllnterdangs 313 737.5 138 1,528.1 451 2,265.8 5.0
Addltkx>el Growth Areas
3146 FAPArea 23 69.0 6 45.6 29 114.6 3.9
Lake Mary Blvd Extension Area 144 388.8 110 2,706.0 254 3,094.8 12.2
8ubtatal for Addkional Growth 187 457.8 118 2,751.8 283 3,209.4 16.1
480 1,195.3 254 4,279.7 734 5,475.0 7.5
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 78
SeminoleWay Industry and Facility Analysis -Draft
Table 8: Potential Development Opportunity Properties
includin arcels under Conservation antl Conservation overla FLU
Rnpertles ttetween ProPertle. ai'varant and urdanRlltaed Ptopertles
1 and 6 aces then S ages ftron t sae
lJrldenrtllltadend Vacart Ropertles
hkanbar d Total Ants Nutt6ar d T°W Ana tdutnltar d Total Arcs Avarapa Frtol
f1a°Na (aaay Ptsa k (aow, Bala (arnart! 8iaa(avsa)
Within 1 mile of Irrterc~terlges
Finehart IbadISR 46 163 384.7 76 573.3 239 958.0 4.0
CR46A 45 101.9 19 242.1 64 344.0 5.4
US17-92 99 219.3 47 695.2 146 914.5 6.3
9434 36 81.4 22 526.9 58 608.3 10.5
Ind Bug Lake Ri 51 115.1 28 365.4 79 480.5 6.1
9426 84 144.4 23 201.5 87 345.9 4.0
9fttotalforallnt 458 1,046.8 215 2,6041.4 673 3,651.2 5.4
AtJdltlortel potential Q'owth Areas
9246 HPArea 29 84.6 28 294.2 57 378.8 6.6
lake Mary 9vd 6denson Area 213 561.3 162 3,397.6 375 3,958.9 10.8
Subtotal for Addltlorrel Q'°wth 242 645.9 190 3,691.8 432 4,337.7 17.2
700 1,6927 405 6,296.2 1,105 7, .9 7.2
If the additional growth areas (SR 46 HIP Area and the Lake Mary Boulevard
Extension Area) are considered, there is an opportunity to develop or redevelop up
to 8,000 acres of properties con•idor-wide, doubling the total development opportunity
existing around interchanges. The bulk of the development opportunity is
concentrated near the airport along Lake Mary Boulevard Extension. Of the total
development opportunity, two-thirds are properties that are considered underutilized
and a third, or around 3,500 acres, are currently vacant. Of the total 1,100 parcels
that make up the total development opportunity, almost 60% are between 1 and 5
acres in size. The rest are properties that are larger than 5 acres and make up
almost 80% of the total land area of potential development.
The results also show that more significant development opportunities exist around
interchanges and key anchor areas (the Sanford International Airport and the Lake
Mary office parks) north of Lake Jesup than on the corridor's southern segment.
When combined with the additional growth areas, the northem segment accounts for
more than 80% of the development opportunity in the entire corridor.
This first series of analysis does not take into consideration any environmental
considerations and includes properties in all FLU designations.
Future Land Use Designations of Development Opportunity Areas
Figure 7 shows the potential development opportunity areas and their future land use
designations. The map shows that a majority of the large parcels identified in
development opportunity areas are under a mixed use or planned development (PD)
designation. Clusters of smaller parcels are located in areas designated commercial
and office use. Along the northem shore of Lake Jesup and near the airport, some
parcels considered redevelopable are under the suburban estates FLU designation.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 79
Winter Springs and Oviedo
Figure 7: Vacant and Underutilized Properties and their FLU Designations Data Source: Seminole County, Cities of Sanford,
SeminoleWay Industry and Facility Analysis -Draft
Development Opportunity Areas not affected by Environmental Constraints
To quantify the extent of development opportunities that will not be constrained by
environmental conditions, parcels that are affected by a conservation overlay FLU,
conservation FLU, or wetlands were removed. Figure 8 illustrates the development
opportunity areas with the environmental constraints overlay and Tables 9 to 11
quantifies the development opportunity. Figure 9 maps out parcels that are not
constrained by environmental conditions.
When the environmentally constrained properties were removed, the remaining
development opportunity parcels were less than half of the original subset in terms of
land area. This reduction is due to the more than 3,500 acres of underutilized
properties and more than 2,000 acres of vacant properties that are affected by an
environmental condition. When the environmentally constrained parcels are
removed from consideration, the Lake Mary Boulevard Extension area still offered
close to 1,500 acres of vacant and underutilized properties within a mile of the new
roadway.
Table 9: Vacant Properties (excluding parcels under Conservation and
Conservation ~verlav FLUI
~ beRMreer- P roperties Ap vaCert Properties
1 and a aa+es then s ages :. than 1 acre
vecent Properties
Numberof
Total Area
Number or TatalArp
Numberd TotalArert IYvffag
9FVoN
. Paroals' (aadai ParoaN ' t+r?M Prtroals (+~Mi 8s ia~
Within 1 mile of Interd~arrgea
Rrtahart Ibad/SR 46 35 64.4 16 175.4 51 239.8 4.7
d~46A 9 17.8 0 - 9 17.8 2.0
US17~2 17 35.5 5 47.6 22 83.1 3.8
fft434 7 14.4 2 14.6 9 29.1 3.2
Fbd Bug Lake f2i 17 38.1 7 72.6 24 110.7 4.6
9426 10 16.9 4 41.3 14 58.2 4.2
9rbtotal for All Interdrarge 95 187.2 34 357.4 129 538.6 4.2
AddRlonel potential trowth Areas
SR48 FIPArea 6 15.6 22 248.6 28 264.2 9.4
Lake Mary Blvd 6denson Area 57 139.1 34 472.3 91 611.3 6.7
9~btotal for Addkkxral Growth 83 154.7 58 720.9 119 875.5 16.2
158 341.8 90 1,0723 248 1,414.1 5.7
Table 10: Underutilized Properties (excluding parcels under Conservation and
Conservation Overlay FLU)
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 81
SeminoleWay Industry and Facility Analysis -Draft
Properttest~etween' P rnpelttes 'wlunaen,tulmaPraperti~
1 and t; ernes then a saes theft 1 ao,a
U11dBn#IIIaBdRopel'tle6 Nunhwd TdalArvo Num6erd TotalArw NumberCf Tot4lgn~u Avers~Frrgl,
Fsroah (saw) PrtoMs (aon~ F+eroWs (aot'M~ !>~ ~~
Within 1 mile of Intercitartgss
Rnehart Fbad/SR 46 70 174.3 11 138.9 81 313.2 5.9
~46A 15 24.6 2 14.7 17 39.3 6.4
11517-92 49 114.2 15 178.8 64 293.0 4.8
52434 11 28.1 2 16.0 13 42.1 3.2
F8d Bug Lake i2i 21 40.3 7 55.5 28 95.8 4.3
52426 28 59.4 7 51.5 35 110.9 3.2
3#otal far Ali Into 194 438.8 44 455.5 238 894.3 3.8
Addkiortal potential Growth Areas
5246 FNPArea 21 63.2 6 45.6 27 108.8 3.9
Lake Mary Blvd Exteruion Area 103 269.9 52 6128 155 882.4 5.7
9#otal for Ad~tkxtal Growth 124 333.1 58 658.2 182 991.2 9.8
318 771.9 102 1,113.7 420 1,885.6 4.5
Table 11: Potential Development Opportunity Properties
excludin arcels under Conservation and Conservation Overla FLU
Prope(tleettetween Propet4les ai vacant anti llndeniti~laed Properties
1 and 5 scree than 5 acres then 1 acre
UrderutilFasd andvaCeuR Plopertles
NunNsr d
Total Ana
Nunbsr d Total Aron
Number d
Total Arsu
Averpe Flral
Psrcab (sawf FdoMa (aaM i+rraeh ISM 81ss(artW
Within 1 mile eF Interohartgss
linehart Fbad/SR 46 105 238.7 27 314.3 132 553.0 4.2
CR46A 24 424 2 14.7 26 57.1 22
11S17-92 68 149.7 20 228.4 86 378.1 4.4
52434 18 40.5 4 30.7 22 71.2 3.2
lid Bug Lake R1 38 78.4 14 128.1 52 206.5 4.0
52426 36 76.3 11 92.8 49 1('9.1 3.5
8utrtotH for All Irrterdrertgs 289 626.0 78 806.9 367 1,432.9 3.9
Ad~tkx>al potential Growth Areas
5246 HPArea 27 78.8 28 294.2 55 373.0 6.8
Lake Mary L11wJ 6Rerdon Area 160 408.9 86 1,084.8 246 1,493.8 6.1
Sbtotal for Additiorel Gravth 187 487.8 114 1,379.0 301 1,886.8 129
476 1,113.7 192 2,185.9 668 3,299.7 4.9
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN $2
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Figure 8: Vacant and Underutilized Properties Data Source: Seminole County, Cities of Sanford,
(showing the Environmental Constraints of the Corridor) Winter Springs and Oviedo
~~
g
~~
LEGEND
Underutilized Parcels
® 1 to S aces
_ Mora than 5 acros
~MIW
VaaM Paruls
1 to 5 acros
_ More than 5 acros ,
Additional Potential Development Opportunities
IIIj%~ SR 46 HIP Area
® Ahng Lake Mary Blvd. Ext.
® o os is a.oMiHs
r f
p.
Figure 9: Vacant and Underutilized Properties Data Source: Seminole County
not impacted by Environmental Constraints
SeminoleWay Industry and Facility Analysis -Draft
Land Use Conclusions
• The Seminole Way Corridor has significant opportunities for development
and redevelopment.
An estimated 8,000 acres of properties are ripe for development and
redevelopment along the Seminole Way Corridor, around the SR 46 HIP area,
and along the Lake Mary Boulevard Extension. These properties are made up of
parcels which are currently vacant or underutilized and are larger than one acre
in size. Along the SR 417 corridor itself, and immediately around interchanges,
around 3,600 acres of properties are considered ready for
development/redevelopment.
• The Development Opportunities are concentrated around key interchanges
and anchor uses north of Lake Jesup. The higher concentration of
interchanges along the Corridor north of Lake Jesup allows for more parcels to
be targeted as potential development opportunities. Additionally, the presence of
the Sanford International Airport and the concentration of professional business
parks in Lake Mary further strengthen the possibility for development activity in
the SR 46 HIP Area and along Lake Mary Boulevard Extension. More modest
development opportunities with smaller parcels of underutilized and vacant
properties can be found south of Lake Jesup.
• The environmental considerations could substantially impact the potential
development opportunities along the Corridor. When screened for potential
environmental constraints, the total acreage of developable and redevelopable
properties was reduced to 3,300 acres, less than half of the original potential
development opportunity subset. Although this is a relatively conservative
approach to determining development potential, the study team feels that without
a detailed analysis of the nature and extent of the environmental constraints, this
figure more accurately quantifies the early phase opportunities for the Seminole
Way Corridor development. A next-step study can be undertaken to more clearly
understand the limitations that are brought by the environmental conditions,
especially those around Lake Jesup.
• Existing future land use policies of the County and the partner
municipalities are supportive of the Seminole Way Corridor future goals.
Comprehensive plan policies and future land use maps from all the partner
jurisdictions generally support and allow the types, patterns, and densities of
development of the industries targeted for the Seminole Way Corridor. All the
jurisdictions call for some form of mixed-use development, planned development,
or commercial and office uses around the corridors interohanges. Around the
airport and near the SR 46 HIP area, the County and the City of Sanford also
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 85
SeminoleWay Industry and Facility Analysis -Draft
have policies encouraging mixed-uses, light industrial uses and planned unit
developments.
As a next step, the County and the partner municipalities can incorporate
stronger policies specific to Seminole Way and its implementation as part of their
comprehensive plan updates and other policy changes. The goals of the
Seminole Way Corridor should also be included in vision plans that are
developed for areas along the corridor to reinforce the vision and provide
guidance to the private development community. Lastly, a concerted strategic
planning effort involving various jurisdictions can be conducted to more clearly
understand and carry out the necessary regulatory changes to implement the
goals for Seminole Way.
• The majority of the parcels that are considered ripe for development are
underutilized properties and not vacant properties. Because of this,
additional incentives may be necessary to encourage redevelopment.
Jurisdictions can explore various incentive strategies to promote the properties'
redevelopment to high-technology and high growth industries. These incentives
may include assistance for providing infrastructure (i.e. new roadway
connections), streamlined permitting processes, and interlocal agreements
between partner jurisdictions to assist property owners that abut or straddle
jurisdiction boundaries.
• A strong partnership and coordination between jurisdictions is necessary.
This feasibility study is a great start for the various jurisdictions to come together
and define the future vision for Seminole Way. As the program continues and
changes in the regulatory framework are made, an even stronger partnership and
coordination is necessary among the different jurisdictions to ensure the
Corridor's success.
REAL ESTATE RESEARCH CONSULTANTS, iNC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 86
'_ ii
~~~
Industry and Facility Analysis \
Conclusions & Recommendations ~-
,ti ~... ,:. ,.,.~
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LEGEND T ~ 17 ~ c A ~ - ~ ~ `'., , , ~ ~ ~.' , ~ i , _-'T+'
-,~ . . ~ r
a®oe SemMok Way Study Corridor~~, I " ' _~ ~~,..,.....~' ' I ~ `r j .r ~~ i ' _" ~ i_ n " t
~~ ~ Limited Access Highways `~~ ~'~" I ~ I + - - ' ~ ~~ ~ f -- .-
+..r.r. State Roads ,"-~ `"~~1 I - h ,
'-----~ County Roads ~."3"t'~'"~"" ~~'"~__ _+_. IT ~ RESEARCH
C ,O N S U l T A N T S
r
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SeminoleWay Industry and Facility Analysis -Draft
Conclusions and Recommendations of this Effort
A brief summary of the findings and conclusions of this first phase evaluation of the
SeminoleWay economic development vision is presented here in relation to the major
topic areas addressed in this report. The accompanying Executive Summary provides a
more expansive summary of the reports key findings.
The Vision for SeminoleWay
What Seminole County community and government leaders want are high value
investments and high wage jobs in target industries sectors that will provide economic
stability and growth for the next twenty years, or more. For many in local leadership
roles, the vision is embodied not in the next successful office development or the next
industrial park, which are easily predicted and clearly envisioned. Rather, they are
wrestling with defining what will be relevant and needed in the county and the region
when the next generation of leadership is in control and making decisions about what is
best for its community. For many, it is necessary to understand what is emerging or only
anticipated at this time.
This report brings emerging economic trends and industry clusters into focus and
evaluates their suitability for the SeminoleWay corridor.
The "Vision" held by community stakeholders includes many specific goals and
objectives. Based on the results of this analysis to date, "Success" would be defined
as:
1. A vision or plan based on realistic economic opportunities for the Corridor,
blending public resources, private business interests and education;
2. Attraction of businesses that add to the County's quality of life through stable
investment, high-wage employment, environmentally friendly development, and
support for existing economic base;
3. Expansion of the County's non-residential ad valorem tax base and other
revenue sources;
4. Provision of appropriate land use controls and comprehensive plan policies
throughout the Corridor to allow desirable "high value/high wage" (and maybe
"high tech") businesses to find a place in the county;
5. Land owners understanding the vision of SeminoleWay and "buying in;"
6. Certainty that infrastructure resources, policies, and incentives are aligned at
county and municipal levels to enhance the chances of achieving the economic
development vision.
Economic Futures Analysis
Seminole County already possesses a significant amount of strategic economic
development resources that can be readily applied to facilitate economic development
within the SeminoleWay Corridor. The foundation for land use policy incentives has
previously been laid with the existing HIP-TI targeted future industries land use category.
Many of the policies and practices associate with HIP-TI could function to attract
identified SeminoleWay economic clusters. Existing financial incentive programs, such
as the Jobs Growth Initiative Fund, the Qualified Target Industry Tax Refund program,
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 87
SeminoleWay Industry and Facility Analysis -Draft
and the Florida High Tech Corridor Council matching grants, will be or should be made
available to targeted industries within SeminoleWay. The SeminoleWay initiative
should continue to build upon and enhance the existing partnership with the University of
Central Florida's Business Incubation program.
Building upon the existing economic and industrial conditions in Seminole County and
the greater Orlando MSA, the RERC team has identified four specific economic clusters
with the greatest potential of fulfilling the SeminoleWay Corridor vision and fostering
real long term economic growth in sustainable high wage, high impact industries. They
are:
1. Financial services and information services
2. Digital media including modeling and simulation, film and broadcasting, themed
entertainment and animation/game development
3. Life sciences including biotech and medical instrumentation
4. Technical and research services including civil and environmental engineering
and so-called "green" architectural and engineering services
These four clusters represent the most feasible and attractive future of the
SeminoleWay Corridor given the context and previously identified constraints. Policy
decisions concerning each cluster should be evaluated and tailored to exploit the
resources identified within this report.
Any limitations of or barriers to the successful cultivation of the SeminoleWay targeted
industry clusters are likely to be spatially specific in nature. From a global perspective,
the SeminoleWay Corridor is already well suited to attract and sustain each of the
identified clusters without significant hindrance from transportation infrastructure,
environmental constraints, suitable housing, educational resources, or land use and
comprehensive planning policies.
Land Use Analysis
Accounting for environmental constraints and major accessibility issues, the State Road
417 Corridor between I-4 and the Orange County line contains about 3,300 acres of land
that could be considered suitable for economic development efforts of the SeminoleWay
vision. Of these ripe lands, the majority of acreage can be classified as underutilized
rather than vacant. Approximately 500 acres within the two mile corridor and nearly 900
acres located within the Sanford Orlando Airport and HIP areas are functionally vacant.
These constraints suggest that targeted industries and development within the corridor
will necessarily be focused toward smaller individual developments and businesses that
may not require a large tightly clustered campus and the associated large tracts of raw
undeveloped land. To serve the most obvious target industries and businesses, large-
scale land assemblage is probably not necessary.
The suitable land within SeminoleWay is, however, clustered around readily accessible
SR 417 interchanges. SR 417 itself provides ready and efficient access to both interstate
4, Sanford Orlando Intemational Airport and Orlando Intemational Airport. The future
land use policies of Seminole County and the SeminoleWay partner municipalities
currently governing the available lands around the SR 417 interchanges support the
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SeminoleWay vision and may require only minor adjustment on a spatially specific basis
to fully accommodate the specific SeminoleWay targeted industries.
While it appears unlikely that a major "ship of gold" opportunity will be drawn to
SeminoleWay's limited harbors, there will be many, many opportunities to draw high
value cargo to the county's scattered ports and business centers via tenders, shuttles,
and barges that connect the county's resources with motherships of targeted industry
clusters of tomorrow.
Next Steps
RERC recommended next steps include:
• Completion and further interpretation of spatially specific land use, traffic and
supporting infrastructure analysis at the SR 417 interchange and parcel
specific level.
• Identification of secondary requirements for housing, retail or other support
facilities consistent with the demands of development expected within the
targeted industries.
• Further description of the competitive environment for the SeminoleWay
targeted industries.
• Review of existing economic development SeminoleWay marketing plans
and evaluation of alternatives for long term SeminoleWay marketing
initiatives.
• Evaluation of existing economic development and incentive policies and
proposed modifications as they relate to the SeminoleWay targeted
industries at specifically identified locations.
• Identification of key persons responsible for marketing initiatives and
formulation of SeminoleWay progress benchmarks.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 89
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Semin~aiAY
Industry and Facility Analysis ''
April 2008 Review Draft
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SeminoleWay Industry and Facility Analysis -Draft
Table of Contents
Table of Contents ..............................................................................................................1
Executive Summary ........................................................................................................ ..3
Introduction and Vision for SeminoleWay ....................................................................... ..4
Study Area Context ..................................................................................................... ..5
The Vision for SeminoleWay ....................................................................................... ..5
Goals and Objectives of this Plan ............................................................................... ..7
Historical Perspectives .................................................................................................... ..9
Regional Demographics -Orlando MSA .................................................................... .. 9
Central Florida as a Region .................................................................................... ..9
Orlando Metropolitan Area Historical Overview ...................................................... ..9
Population Trends through 2005 ............................................................................. 10
Population in the Future .......................................................................................... 12
General Employment Trends .................................................................................. 14
Character of Employment Growth ........................................................................... 17
Population and Income Demographics -Seminole County ........................................ 20
Past Development Trends -Seminole County ........................................................... 24
Office Trends ........................................................................................................... 26
Industrial Trends ..................................................................................................... 29
Multi- Family Residential Trends :............................................................................ 30
Geographical Distribution of Existing Uses ................................................................. 31
Office Concentrations .............................................................................................. 31
Industrial Concentrations ........................................................................................ 32
Multi-Family For-Sale and For-Rent Concentrations ............................................... 33
Economic Development Resources ................................................................................ 35
Regional Resources .................................................................................................... 35
Infrastructure Resources ......................................................................................... 35
Specific Seminole County Resources ......................................................................... 37
Regulatory Resources ............................................................................................. 37
Financial Resources ................................................................................................ 37
Education Resources .............................................................................................. 38
Futures Analysis .............................................................................................................. 40
Economic Cluster Analysis .......................................................................................... 40
Research Framework .................................................................................................. 41
Competitive MSA Clusters .......................................................................................... 41
Cross-Cutting Recommendations and Observations: Clusters ................................... 47
Four Seminole Way Clusters ...................................................................................... 49
Cluster. Digital Media .............................................................................................. 49
Cluster: Life Sciences ............................................................................................. 53
Cluster: Financial Services and Information Services ............................................. 56
Cluster: Technical and Research Services ............................................................. 58
Land Use Analysis .......................................................................................................... 61
Study Corridor and Methodology ................................................................................ 61
Future Land Use Policies ............................................................................................ 63
Transportation Network ............................................................................................... 70
Environmental Constraints .......................................................................................... 70
Development Opportunities ......................................................................................... 74
Analysis Assumptions and Methodology ................................................................. 74
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Development Opportunity Areas (Vacant and Underutilized Properties) ................74
Future Land Use Designations of Development Opportunity Areas ........................79
Land Use Conclusions ................................................................................................85
Conclusions and Recommendations of this Effort ..........................................................87
The Vision for SeminoleWay .......................................................................................87
Economic Futures Analysis .........................................................................................87
Land Use Analysis ......................................................................................................88
Next Steps .......................................................................................................................89
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Executive Summary
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Introduction and Vision for SeminoleWay
Preparing a guide for quality economic development for the future of a vital community
like Seminole County needs clear vision and leadership. It requires coordination and
consistency of policies, as well as supporting infrastructure and resources. To enhance
the opportunities for successful implementation, it also takes relevant and accurate
information regarding the economic marketplace and the possible obstacles that might
constrain or redirect the most practical options and pathways. In a globally competitive
world where technological changes can sweep swiftly like waves across the sea, one
locale must focus intently all of its resources on the target and move quickly. At the
same time, foundations must be laid to provide the infrastructure and support systems
that might not be fully capitalized for a decade, or more.
In this evolving and highly charged environment, reflecting the character of a well built
community already near maturation, the SeminoleWay initiative was conceived by a
visionary partnership of business and governmental leaders -The Seminole County
Regional Chamber of Commerce. The Mission: to create a strategic land use and
economic development plan focused on attracting high value/high wage jobs and
businesses to the county along the State Road 417 Corridor and across I-4 to the Port of
Sanford.
For the past twenty years, Seminole County has pioneered and wrestled with the
challenges of maintaining a strong comprehensive plan that encourages positive
economic growth for the future beyond only dependency on ad valorem tax-supported
growth. The SeminoleWay initiative will continue this forward thinking and create an
positive environment and effective strategies for bringing business and government
together in pursuit of a strong, stable, and relevant economic future of investment,
livable incomes, and high quality employment.
In the following pages, this report explores:
1. goals and visions for economic development in the SeminoleWay corridor;
2. local resources for economic development;
3. important and relevant historical economic trends in Seminole County and the
central Florida region;
4. economics futures for the county; and
5. land use trends and policies that will be important to attracting high value/high
wage jobs and businesses to the county.
All five of these subject areas must be incorporated into a coordinated and effective
strategy for identifying how the SeminoleWay dream may come true.
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Study Area Contexf
Seminole County has identified a study corridor generally consistent with the alignment
of SR 417, extending north from Orange County to Interstate 4. Along this comdor there
are seven interchanges providing varying access to approximately 3,700 acres of
undeveloped property distributed among owners of more than 4,000 vacant or seriously
underutilized parcels. The county has indicated a preference to position this corridor to
support targeted industries which might complement or expand the base of high
technology, higher wage employment already established in the North I-4/Lake Mary HIP
area and proximate to UCF in Orange County.
Preliminary assessment of the opportunity has suggested that only a limited number of
the undeveloped acres (25% or less) are in large assemblages and only a small part of
the larger parcels are adequately served by SR 417. The restricted access may be
further constrained by the toll structure on SR 417 and the absence of supporting
alternate roads paralleling the expressway.
In any case, potential industry targets, typical users associated with these targets, the
supportable scale of development, land use designations consistent with these activities,
location or infrastructure requirements, and the range of incentives or policies necessary
to induce the targets to the corridor are the primary issues addressed in this report.
Given concerns about the corridor's transportation capacity, special consideration of how
spatial relationships and mobility could affect any implementation strategy are also part
of this analysis.
Practically, this analysis accepts the limitations imposed by the physical configuration of
the existing road system and evaluates alternatives generally matched to the known or
anticipated capacity. A later phase of this planning initiative might identify alternative
prospective economic development opportunities and modify or enhance the
assumptions regarding infrastructure perceived necessary to secure these opportunities.
The preferred approach is to pursue the former option, considering the latter only if the
initial assessment points to obviously unexploited target segments of exceptional high
value.
Ultimately, the basis for proceeding with the preferred plan is a comparison of the fiscal
and economic advantages of a trend-based analysis reflecting current land use
expectations relative to the fiscal and economic advantages realized under alternative
scenario(s). These comparisons would focus on the expectations of shifting emphasis
from lower valued land uses to higher value land uses and activities however these may
be defined in the course of this work.
The Vision for SeminoleWay
It is extremely difficult to measure success and create a pathway to it if no clear vision
for the outcome can be defined. One can imagine a high rise office tower, design it,
build it, occupy it, and know when the project is manifest. The same is generally true
with a residential subdivision, an airport, a downtown, a roadway, or a university. It is
almost impossible to measure success of an economic development initiative without
defining goals and objectives of the process; setting measurable benchmarks for jobs
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and investments; coordinating land use and regulatory policies; establishing specific
desired outcomes; and providing tools and resources along the pathway.
At the end of the effort, what Seminole County community and government leaders want
are high value investments and high wage jobs in target industries sectors that will
provide economic stability and growth for the next twenty years, or more. For many in
local leadership roles, the vision is embodied not in the next successful office
development or the next industrial park, which are easily predicted and clearly
envisioned. Rather, they are wrestling with defining what will be relevant and needed in
the county and the region when the next generation of leadership is in control and
making decisions about what is best for its community. For many, it is necessary to
understand what is emerging or only anticipated at this time -what will the future bring?
This report attempts to bring emerging economic trends and industry clusters into focus
and to evaluate their suitability for the SeminoleWay corridor. As part of our analysis,
many stakeholders of the community and local businesses were interviewed to find the
common elements of the vision, and to express goals and objectives for this planning
effort and its implementation.
Based on the results of this analysis to date, "Success" would be defined as:
1. A vision or plan based on realistic economic opportunities for the Corridor, blending
public resources, private business interests and education;
2. Attraction of businesses that add to the County's quality of life through stable
investment, high-wage employment, environmentally friendly development, and
support for existing economic base;
3. Expansion of the County's non-residential ad valorem tax base and other revenue
sources;
4. Provision of appropriate land use controls and comprehensive plan policies
throughout the Corridor to allow desirable "high value/high wage" (and maybe "high
tech") businesses to find a place in the county;
5. Land owners understanding the vision of SeminoleWay and "buying in;"
6. Certainty that infrastructure resources, policies, and incentives are aligned at county
and municipal levels to enhance the chances of achieving the economic
development vision.
The "Vision" held by community stakeholders includes many specific goals and
objectives, key observations such as those shared in the following pages.
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Goals and Objectives of this Plan
The following specific goals and objectives have been excerpted from surveys of local
leaders and stakeholders in the SeminoleWay study corridor. For this analysis, goals
and objectives are grouped by major topic relevant to development of a plan for
SeminoleWay:
Comarehensive Plans for Countv and Cities
1. Insure that rules, regulations, and land uses are appropriate
2. Comprehensive plans need to be consistent and appropriate
3. Make sure all comp plan amendments are successfully completed
Countv aarticigation and city cooaeration
1. Don't assume much investment of resources from county
2. Cities of Sanford, Oviedo, and Winter Springs need to participate/cooperate
3. County should playa "supporting" role, not lead implementation
4. "Concerted response" between county, cities, and business community
5. Cities and county should have similar land use policies for consistent
response to prospects that share in the vision
Land Utilization and Density
1. Higher densities should be allowed around key intersections or "nodes"
2. all rural lands and environmental lands need to be protected
3. 17-92 and SeminoleWay are two "long-term" corridors
4. Higher density "hubs" should be allowed/promoted around sr 417
interchanges
5. Pursue highest and best use for remaining vacant lands
6. Allow mixed land uses to provide more long-term sustainability and give
"back-stop" for target industries
7. Land uses in the corridor need to include residential for 24-hour activity
Property Owner and Developer Response
1. Development environment needs to be "developer friendly"
2. Looking fora "seamless" land use corridor that can be marketed to
development community
3. Get landowners to "buy in" which includes proper incentives such as
additional entitlements and mixed uses
Incubators and Hi-Tech Industry Generation
1. Should be more development like incubators that foster spin-off growth
2. Specify target industries and be receptive to prospects
3. Focus on key local "hi-tech" industries, including:
a. optics, photonics
b. lasers, simulation, modeling
c. digital media
d. aerospace and civil engineering ("green sciences")
e. microbiology
4. Repeat local examples of "home-grown" incubator spin-offs such as RINI
Technologies and Crystal Photonics
5. Insure that facilities needs are met with Class B office or flex-space products
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6. Incubators have a 50% success rate; 84% of graduates stay nearby;
graduates have 5 to 10 year maturation period
7. Attractive offices of the future need to add technology and other amenities to
distinguish product to a high value target prospect
Role of the Orlando-Sanford International Airport
1. Important to get cooperation and support of Sanford and Airport
2. Airport and surrounding land should become a "core" for high-value industry
development
3. Sanford and airport should be key partners in this effort
Role of Education and University
1. Seminole County communities are attractive and should be considered
"assets" along with schools and workforce
2. "Affordability" of housing for workforce a limiting issue
3. Build on programs at UCF that can support new high-wage employment
4. Provide attractive community environment for university researchers, faculty,
and graduates
Economic and Fiscal Impacts
1. Attract development with "high-value tax base" and derive new construction
impacts (UCF incubator is good example)
2. Lake mary/I-4 sub-area must be promoted to grow more businesses that
need expanded space or lower rents
3. "Redevelopment" in the corridor makes sense to achieve objectives
4. "Success" will also be measured in potential tax base enhancements; method
needed to measure jobs, tax impacts "before and after" -county must
document return-on-investment
Moving forward with the next phases of planning for SeminoleWay, these goals and
objectives -along with the findings of the industry analysis and land use analysis -will
form the basis of a strategic plan and an action agenda.
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Historical Perspectives
Regional Demographics -Orlando MSA
Central Florida as a Res~ion
The Orlando Metropolitan Statistical Area (MSA) is comprised of four counties: Orange,
Osceola, Seminole and Lake and is situated in the east-central portion of the state. The
2005 population estimate was 1,953,354, and the 2025 forecast projects the Metro
Area's population will increase by more than half to 3,059,540, or by 1,106,186 new
residents.
Like population, housing units have grown at a tremendous pace. In 1970, the five
county total was approximately 263,000 units. The 2000 Census count estimated the
figure to be 910,000, while the 2025 forecast figure is almost 1,600,000 housing units.
The region has been experiencing a transition from an agricultural area to a residential
community in the past decades due to the declining economic viability in the agricultural
industry in this region. This has had ramifications on the types of land uses that have
been approved and developed, their scale and density/intensity, and their location in the
region and county. Orange County has developed quicker due to its superior access, as
well as major employment and activity centers and municipalities. The southeastern
quadrant of the county has been catching up with an assortment of residential
communities and supporting commercial facilities, coinciding with the expanding access
and transportation facilities constructed in the 1990s that linked the area closer to the
Orlando core and other regional activity/employment centers. A similar trend is
expected to occur in the southwestern areas of Orange County and southern Lake
County over the next decade with the completion of the western beltway (429).
Mirroring the residential growth in the recent past, the counties within the Central Florida
region have experienced a healthy growth in supporting non-residential development.
The following is a summary of the tax rolls for the five counties in the region for space
built as of 2005:
• Retail -approximately 165,000,000 square feet of retail development.
• Office -almost 85,000,000 square feet of office development.
• Industrial -approximately 196,000,000 square feet of industrial development.
• Hotels and Accommodations -more than 125,000 rooms and timeshare units
• Single family homes -approximately 700,000 units
• Multi-Family apartments -approximately 275,000 units
Orlando Metropolitan Area Historical Overview
The Orlando Metro Area is the third most populated MSA in the State of Florida, ranking
just behind the four-county, Tampa-St. Petersburg MSA and the single county, Miami-
Dade MSA, respectively. The Lakeland-Winter Haven MSA ranks ninth in the State,
sandwiched between the Daytona Beach MSA (8th place) and the Melbourne-Titusville-
Palm Bay MSA (10th place). In total, the cost-to-coast regional "belt" now contains a
combined total population of more than 3.5 million persons, placing it among the top ten
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"consolidated metropolitan areas" in the nation, competing for attention and resources
with regions such as New York, Chicago, Los Angeles, Washington-Baltimore, and
Dallas-Fort Worth.
The four counties in the Orlando MSA are inextricably linked through the metro area's
major road network, international airports, commuting patterns, educational facilities,
major employment centers, retail centers, and sporting and cultural facilities. Each of
the four counties is simultaneously co-dependent and independent. As the Lakeland-
Winter Haven, Daytona Beach, and Melbourne-Titusville MSA's continue to grow, they
develop closer links to the Orlando MSA.
Population Trends through 2005
The following tables summarize the population trends within the metro area:
Population: Orlando MSA Counties, 1980 to 2005
Geo rah 1980
Po ulatlon 1990
Po ulatlon 2000
Po ulatlon 2005
Po ulatlon
Florida 9 746 961 12 938 071 15 982 378 17 918227
Lake Coun 104,870 152,104 210,528 263,017
Oran a Coun 470,865 677,491 896,344 1,043,437
Osceola Coun 49,287 107,728 172,493 235,156
Seminole Coun 179,752 287,521 365,199 411,744
Four Coun Total 804 774 1 224 844 1 644 563 1 953 354
Po ulatlon Chan e
Geo rah 1980-1990 1990-2000 2000-2005
Florida 3191 110 3044 307 1 953 403
Lake Coun 47,234 58,424 52 490
Oran a Coun 206,626 218,853 147 093
Osceola Coun 58,441 64,765 62 663
Seminole Coun 107,769 77,678 46 545
Four Coun Total 420 070 419 719 308 791
Source: RERC; US Census Bureau, 2005 is an estimate published by BEBR in February 2006
During the 1980 to 1990 period, the four counties profiled grew by more than 420,000
residents, which is an annual growth pace of 42,000 per year. US Census records
indicate growth in the 1990 to 2000 period maintained an average of about 42,000 new
residents per year to reach a 2000 population of 1,644,563. The state has continued to
increase its population by over 3 million per decade in the past twenty years. Local
counties in Central Florida and the State as a whole have seen a healthy increase in the
rate of population growth within the past five years compared to earlier time periods. The
table above reflects the following:
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• Lake County has experienced a continuous upswing in population growth, adding
47,000 between 1980 and 1990, while adding over 58,000 between 1990 and 2000,
and has already added 52,490 between 2000 and 2005.
• Orange County continues to dominate the local landscape in terms of population
growth, adding over 200,000 people in each decade for the past twenty years. In the
period between 2000 and 2005 it is estimated Orange County added approximately
147,100 residents at a rate 50% ahead of the past two decades.
• Osceola County is continuing to grow ever faster, adding more than 58,000 between
1980 and 1990 and almost 65,000 between 1990 and 2000, and has already added
more than 62,600 between 2000 and 2005.
• Seminole County's growth slowed in the last decade, adding approximately 77,600
residents between 1990 and 2000, after adding almost 108,000 between 1980 and
1990. Since 2000, however, the pace has quickened with more than 46,500 new
residents.
• Orange County still dominates the population growth in the four county area,
accounting for about 50% of the population growth between 1980 and 2005.
• Lake County's share grew from 11 % in 1980 and 1990 to 13.5% in 2005.
• Osceola County's share has more than doubled since 1980, from 5% to 12% in
2005.
• Seminole County's share remained fairly constant, rising from 15% in 1980 to 21% in
2005.
POPULATION CAPTURE BY 000NTY,1980-
2005
SEMINOLE,
20.2% LAKE, 13.8%
OSCEOLA,
16.2°A°
ORANGE,
49.9%
Source: University of Florida; BEBR -Florida Population Studies; RERC
The continuing pace of growth reflects the region's ongoing suburbanization and
provision of improved access and transportation facilities. Three distinct "waves" of
population expansion have swept the metro area since the early 1970's, as illustrated in
the following chart:
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 11
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METRO ORLANDO POPULATION GAINS, BY YEAR,1970-2005
80,000
70,000 --
60,000
50,000
--
40,000
30,000
20
000
,
10
000
,
0
,c ,p ,p ,.p ,{~' ,{~ ,{~
1•. try .('' 1M 16 '10 .(~ 10 10~~'^ ~~ ~ 9° ~ ~1 ~~9° ~^~4° ~ ~~ ~1 ~~~'C,T ~'C 'C
Source: University of Florida; BEER -Florida Population Studies; RERC
Population in the Future
As rapid growth escalates in the early years of this decade, changes in geographic
distribution can also be expected, reflecting both spreading suburbanization and
intensifying urbanization. More than 1.1 million new residents are projected by 2025.
The most notable factors are summarized below:
• Orange County is expected to continue capturing roughly half of the projected
population gains over the next twenty years, reaching a total of almost 1.6 million
people by 2025.
• The second fastest growing county will be Osceola, accounting for almost 19% of the
metro area growth and reaching a population of more than 443,600 by 2025.
• Following closely will be Lake County, already the third most populous county in the
metro area. Lake should capture just over 16% of the metro area's growth, reaching
a total of 443, 700 or more by 2025.
• Seminole County will slip to fourth, adding about 168,600 people by 2025, or about
15% of the metro total.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 12
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POPULATION TRENDS AND PROJECTIONS, METRO ORLAND0,1980-2025
0
1,800,00
1,800,000
1,400,000
1,200,000
1,000,000
800,000
-
800,000
400,000
200,000
0 -
1980 1990 1995 2000 2005 2010 2015 2020 2025
LAIC f ORANGE -~ OSCEOLA ~~ SEMINOLE l
Source: University of Florida; BEBR -Florida Population Studies; RERC
Population Forecasts: Orlando MSA Counties, 2005 to 2025
Geo rah 2005
Po ulation 2015
Po ulation 2025
Po ulation
1=lorida 17 918227 21 767 503 24 998 018
Lake Coun 263,017 359 898 443159
Oran a Coun 1,043,437 1340,561 1,592 346
Osceola Coun 235 156 346 740 443 630
Seminole Coun 411 744 504,074 580,405
Four Coun Total 1 953 354 2 551 273 3 059 540
Po ulation Chan e
Geo rah 2005-2015 2015-2025 Total
Florida 3849 276 3.230 515 7 079791
Lake Coun 96 881 83,261 180142
Oran a Coun 297,124 251,785 548,909
Osceola Coun 111,584 96,890 208,474
Seminole Coun 92,330 76 331 168,661
Four Coun Total 597 919 508 267 1 106 186
Source: US Census Bureau; BEBR February 2006; RERC
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 13
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POPULATION CAPTURE BY COUNTY, 2005-
2025
SEMINOLE,
15.2°~ LAKE, 16.3%
OSCEOLA,
18.8%
ORANGE,
49.6%
Source: University of Florida; BEER -Florida Population Studies; RERC
General Emplovment Trends
Metro Orlando's dramatic growth has been fueled not only by increases of population,
but also by strong employment expansion and diversification. During the past decade,
both indicators have shown steady gains, except for a small and brief employment
downtown in 2002.
ANNUAL POPULATION AND EMPLOYMENT CHANGES,
METRO ORLANDO, 1995-2006
80,000
70,000 ------.---- _.__
60,000 -
5Q000 ---
40,000 -
30,000
20,000 -
10,000
0 r
199b 1896 1997 1888 1998 2000 2001 2 2003 2004 2005 2006
-1Q000 -
-20,000
®POPULATION CHANGE ^ EMPLOYMENT CHANGE
Source: University of Florida; BEBR -Florida Population Studies; RERC
Since 1970, metro Orlando has experienced actual losses in employment during only
three of the past 35 years has metro Orlando experienced actual losses of employment
- in 1974, 1990, and 2002 -roughly every 12 to 15 years. In each case, the local
economy recovered and replaced all of the lost jobs within 12 to 18 months. This
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 14
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remarkable resilience was demonstrated once again with the dramatic rebound of the
economy in 2003, 2004, and 2005, with annual employment gains reaching record
levels.
ANNUAL EMPLOYMENT CHANGE, METRO ORLANDO 1970-2005
60
50
40
30
20
10
0
-10
-20
Source: University of Florida; BEBR-Florida Population Studies; RERC
During the 1990 to 2000 period, the four counties profiled grew by more than 333,000
jobs, which is an annual growth pace of 33,000 per year. Records indicate growth in the
2000 to 2005 period declined somewhat to an average of about 20,000 new jobs per
year to reach a 2005 total of almost 1.2 million. The state has continued to increase its
employment base in the past twenty years. Local counties in Central Florida and the
State as a whole have seen a healthy increase in the rate of job growth within the past
three years compared to the early 2000's when the national economy was in a deep
recession. Notable observations from this employment data include the following:
• Lake County has experienced a continuous upswing in employment growth, adding
27,900 between 1990 and 2000, and almost 10,000 more between 2000 and 2005.
• Orange County continues to dominate the local landscape in terms of employment
growth, adding over 220,000 during the 1990-2000 period. In the period between
2000 and 2005 it is estimated Orange County added almost 50,000 new jobs.
• Osceola County is continuing to grow productively, adding over 20,000 new jobs
between 1990 and 2000, and has already added more than 10,500 more jobs
between 2000 and 2005.
• Seminole County's growth slowed in the last decade, adding approximately 64,000
new jobs between 1990 and 2000. Since 2000, however, the pace has quickened
with more than 31,200 new jobs.
O
h
OI
r N
A
OI
~ ~O OD O N Y f0 00 N ~ f• 07 O
h h CD CD OD OD 00 OI OI O! W O
OJ OI 01 O! OI 01 OI QI CI OI W O
r r r r r r r r ~- r r N N ~
O
O
N
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GtATTING JACKSON KERCHER ANGLIN 15
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• Orange County still dominates the employment growth in the four-county area,
accounting for about 62% of the population growth between 1990 and 2005.
• Lake County's share of metro employment grew from 7.9% in 1990 to 8.2% in 2005.
• Osceola County's share has also grown since 1990, from 5.9% to 6.4% in 2005.
• Seminole County's share reflects an increased economic role, rising from 16.4% in
1990 to 18.5% in 2005.
Employment: Orlando MSA Counties, 1990 to 2005
Geo rah 1990
Em to ment 2000
Em to ment 2005
Em to ment
Lake Coun 58,800 86 750 96 600
Oran a Coun 522 460 742 530 790 750
Osceola Coun 43,740 64,490 74 990
Seminole Coun 122,250 186,650 217,880
Four Coun Total 747 250 1 080 420 1 180 210
Em to ment Chan e
Geo rah 1990-2000 2000-2005 Total
Lake Coun 27,900 9,850 37,790
Oran a Coun 220,070 48,220 268 290
Osceola Coun 20,750 10,510 31,260
Seminole Coun 64,400 31,220 95 630
Four Coun Total 333 170 99 790 432 960
Source: us Census esureau; woos ~ rooie; rctra:
EMPLOYMENT CAPTURE BY COUNTY,1990-2005
SEMINOLE, LAKE, 8 ~°~
22.1%
OSCEOLA,
7.2°k
ORANGE,
62.0%
Soures: University of Florida; BEBR; Woods 8 Poole Economics - 2005; RERC
As our region continues to grow over the next two decades, most forecasts
conservatively anticipate a continuation of recent annual employment additions and
capture rates between counties. Even so, the metro area is projected to add at least
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 16
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30,000 to 35,000 new jobs each year through 2025. The central counties of Orange and
Seminole are expected to capture 80% to 85% of new employment additions.
Employment Forecasts: Orlando MSA Counties, 2005 to 2025
Geo rah 2005
Em to ment 2015
Em to ment 2025
Em to ment
Lake Coun 96,600 111,840 127 090
Oran a Coun 790,750 1,002 550 1,214 290
Osceola Coun 74,990 97,290 119,670
Seminole Coun 217,880 294,690 371 420
Four Coun Total 1 180 210 1506 370 1 832 460
Em to ment Chan e
Geo raph 2005-2015 2015-2025 Total
Lake Coun 15,240 15,250 30,490
Oran a Coun 211,810 211 740 423,540
Osceola Coun 22,300 22,370 44,680
Seminole Coun 76,810 76,730 153,540
Four Coun Total 326,160 326 080 652 250
Source: US Census Bureau; Woods 8 Poole; RERC
EMPLOYMENT CAPTURE BY COUNTY, 2005-2025
SEMINOLE, LAKE, 4.7°k
23.5%
OSCEOLA,
6.8°h
ORANGE,
64.9°k
Source: University of Florida; BEBR; Woods & Poole Economics - 2005 Florida State Profile;
RERC
Character of Emglovment Growth
The demand for various goods and services, housing, and other real estate is largely
driven by the amount and character of jobs formed in the region over a period of time.
While the metro Orlando area is well known for the pace of its employment growth, it is
the diversity of its job formation that has shaped a healthy, well-rounded economic base.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GwTrING JACKSON KERCHER ANGLIN 17
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TOTAL EMPLOYMENT BY COUNTY, METRO ORLANDO,
1990-2025
1,400.00
1,200.00 -
1,000.00 -- --
800.00
600.00
400.00
200.00 -
0.00
1880 1886 2000 2006 2010 2016 2020 2026
ORANGE -~-SEMINOLE tLAKE -~OSCEOLA
Source: University of Florida; BEBR; Woods & Poole Economics - 2005 Florida State Profile;
RERC
During the past decade, every major employment sector has experienced gains, even
manufacturing activities. Two of the most significant economic growth sectors have
been Professional and Business Services and Construction; each has expanded by
more than 100%. The next tier of growth includes a variety of service-related sectors,
including Education and Health, Leisure and Hospitality, and Retail Trade. Also showing
strong growth have been Information Technology, Real Estate, and Wholesale
Distribution. This balanced growth trend has kept the Orlando economy healthy through
national recessions and travel downturns.
TOTAL EMPLOYMENT AND ANNUAL GAINS, METRO
ORLANDO, 1995-2006
80,000 1,100,000
70,000
1,000,000
60,000
50,000
900,000
40,000
30,000 800,000
20, 000
10,000 700,000
0 600,000
-10, 000 19951996 199719981899 2000 2001 2 2003 2004 2005 2006
-20,000 500,000
® ANNUAL EMPLOYMENT GAINS tTOTAL EMPLOYMENT
Source: University of Florida; BEBR; Woods 8 Poole Economics - 2005 Florida State Profile; RERC
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 18
SeminoleWay Industry and Facility Analysis -Draft
The charts below demonstrate these patterns of employment growth over the 1995 to
2006 period:
PERCENTAGE EMPLOYMENT GROWTH BY CATEGORY, METRO ORLANDO, 1995-2006
Wbl~ Sector
Other Services
Leisure 8 Fbspftalky
Educatbn 8 Health Services
Rafessional8 Business Services
Finance/hsurance/Real Estate
hf ornetion
Retail Trade
Wholesale Trade
Transport/Warehous InglUtilities
Manufacturing
Construction
Mna~g
31. ~
63.7%
41.9%
50.
102.9%
41.3%
41.9%
41.4%
39.6°k
21.8%
2.2%
39.0%
33 3%
0.0% Z0.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 160.0%
Source: University of Florida; BEBR; Woods 8, Poole Economics - 2005 Florida State Profile; RERC
EMPL OYMEN T GROW TH BY C ATEGOR Y, METR O ORLA NDO, 19 95-2006
PUbGC Sector
Other Services
Leisure 8 Fbs
italit
y
p
Educatbn 8 Hearth Services
Rofessional & Business Services
Finance/hsurance/Real Estate
hf ormetion
R
il Tr
t
d
e
a
a
e
Wholesale Trade
Trans port/ W a reh ous hg/lk~fties
Manufacturing
Construction
Mning
0 10, 000 20, 000 30, 000 40, 000 50, 000 60, 000 70, 000 80, 000 90, 000 100, 000
Source: University of Florida; BEBR; Woods & Poole Economics - 2005 Florida State Profile; RERC
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 19
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Population and Income Demographics -Seminole County
While Seminole County shares many of the traits and demographics of the greater
Orlando, MSA, an examination of population and income demographics specific to the
county serves to illustrate the detailed landscape in which the SeminoleWay vision can
ultimately flourish and be fulfilled. A closer look at Seminole County is particularly
important when tasked with determining the local resources capable of supporting
Seminole County speck targeted industry clusters. Any recommendation stemming
from an economic and industry analysis must necessarily consider many facets of
population and income including existing conditions, past growth trends, and future
projections.
As of the most recent 2007 estimates, Seminole County consisted of approximately
160,000 households totaling more nearly 418,000 persons, approximately 60,000 more
persons than indicated by the 2000 census. While population growth has recently
occurred at a relatively modest two percent compound annual growth rate, Seminole
County has steadily improved upon what was already the highest median annual
household income in the Orlando MSA, nearly $50,000 per household in 2000, to over
$57,000 per household in 2007. Additionally, Seminole County has experienced a
decrease in the percentage of households in the lowest income brackets and an
increase in the percentage of households in the very highest income brackets.
Favorable household income demographics typically illustrate that Seminole County
currently possesses the variety of housing types, and other assorted amenities, that the
employers and creators of high wage positions generally desire.
Within that context, the following tables summarize Census 2000 figures, 2007 estimates
and 2012 projections for key demographics for Seminole County.
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SEMINOLE COUNTY
POPULATION AND HOUSEHOLDS
Census Estimate Projection
POPULATION 2000 2007 2012
Seminole Co. 365,196 417,992 459,295
Avg Annual Growth Rate 1.9% 1.9%
HOUSEHOLDS 2000 2007 2012
Seminole Co. 139,572 161,395 178,192
Avg Annual Growth Rate 2.1% 2.0%
HOUSING UNITS 2000 2007 2012
Seminole Co. 147,079 170,614 188,371
Avg Annual Growth Rate 2.1% 2.0%
MEDIAN HOUSEHOLD INCOME 2000 2007 2012
Seminole Co. $49,419 $57,362 $62,812
Avg Annual Growth Rate 2.2% 1.8%
AVERAGE HOUSEHOLD INCOME 2000 2007 2012
Seminole Co. $63,724 $76,088 $83,965
Avg Annual Growth Rate 2.6% 2.0%
Source: Claritas; RERC research
SEMINOLE COUNTY
HOUSEHOLDS BY TYPE
1-Person, Male Hhldr
1-Person, Female Hhldr
2+People, Married Couple, Own Kids
2+People, Married Couple, No Own Kids
Other Fam HH, Male Hhldr, Own Kids
Other Fam HH, Male Hhldr, No Own Kids
Other Fam HH, Female Hhldr, Own Kids
Other Fam HH, Female Hhldr, No Own Kids
Non Family HH, 2+ Persons, Male Hhldr
Non Family HH, 2+ Persons, Female Hhldr
Source: Claritas; RERC research
2007 % of Total 2012 % of Total
16,631 10.3% 18,759 10.5%
21,417 13.3% 24,009 13.5%
41,172 25.5% 45,682 25.6%
46,985 29.1% 51,941 29.1%
3,228 2.0% 3,551 2.0%
3,030 1.9% 3,316 1.9%
10,548 6.5% 11,512 6.5%
7,492 4.6% 8,156 4.6%
6,605 4.1% 6,854 3.8%
4.287 2.7° 4.412 ?~
161,395 100.0% 178,192 100.0%
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GwrrING JACKSON KERCHER ANGLIN 21
SeminoleWay Industry and Facility Analysis -Draft
SEMINOLE COUNTY
HOUSEHOLDS -INCOME RANGE
2007 2012
ESTIMATE PROJECTION
< $10,000 7,902 8,018
Income Group % of Total Households 4.9% 4.5%
$10,000 - $14,999 5,330 5,160
$15,000 - $19,999 6,239 6,084
$20,000 - $24,999 7.015 6.838
18,584 18,082
Income Group % of Total Households 11.5% 10.1 %
$25,000 - $29,999 8,023 7,687
$30,000 - $34,999 8,525 8,378
$35,000 - $39,999 8.418 8.607
24,966 24,672
Income Group % of Total Households 15.5% 13.8%
$40,000 - $44,999 8,733 8,631
$45,000 - $49,999 8,828 8,877
$50,000 - $59,999 15.872 16.901
33,433 34,409
Income Group % of Total Households 20.7% 19.3%
$60,000 - $74,999 18,830 20,887
$75,000 - $99,999 21.408 24.400
40,238 45,287
Income Group % of Total Households 24.9% 25.4%
$100,000 - $124,999 14,242 17,018
$125,000 - $149,999 8.409 11.145
22,651 28,163
Income Group % of Total Households 14.0% 15.8%
$150,000 - $199,999 6,596 9,441
$200,000 - $249,999 3,054 4,368
$250,000 - $499,999 2.658 3.827
12,308 17,636
Income Group % of Total Households 7.5% 9.9%
$500,000+ 1.313 1.925
Income Group % of Total Households 0.8% 1.1
Total Households 161,395 178,192
Source: Claritas; RERC research
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 22
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SEMINOLE COUNTY
HOUSEHOLDS -INCOME RANGE
2007 2012
ESTIMATE PROJECTION
< $10,000 7,902 8,018
$10,000 - $14,999 5,330 5,160
$15,000 - $19,999 6,239 6,084
$20,000 - $24,999 7,015 6,838
$25,000 - $29,999 8,023 7,687
$30,000 - $34,999 8,525 8,378
$35,000 - $39,999 8,418 8,607
$40,000 - $44,999 8,733 8,631
$45,000 - $49,999 8,828 8,877
$50,000 - $59,999 15,872 16,901
$60,000 - $74,999 18,830 20,887
$75,000 - $99,999 21,408 24,400
$100,000 - $124,999 14,242 17,018
$125,000 - $149,999 8,409 11,145
$150,000 - $199,999 6,596 9,441
$200,000 - $249,999 3,054 4,368
$250,000 - $499,999 2,658 3,827
$500,000+ 1,313 1,925
Source: Claritas; RERC research
Notable observations from the above tables include:
• Between 2000 and 2007, the population and housing unit counts within Seminole
County grew by an estimated 52,796 persons and 23,535 units respectively. In
addition, median household income grew from $49,419 to over $57,000 annually
while average household income grew from $63,724 in 2000 to an estimated
$76,088 in 2007. In the last seven years, these increases in population and
income represent an annual growth rate of approximately 2 percent. Slightly
slower population growth rates, accompanied by higher household incomes
indicate that new regional population is likely locating within other MSA counties
based upon more affordable market dynamics.
• Population, households, and household income are all projected to continue
growing by approximately 2 percent annually. While these representative growth
rates may be the lowest in the Orlando, MSA, Seminole County can be
considered the most built out county within the MSA and possesses the highest
population density per square mile and the highest average and median
household incomes.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 23
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The household income distribution in Seminole County is projected to remain
favorable. Approximately 25 percent of the households in 2007 eamed between
$60,000 and $99,000. The existence of a large proportion of households within
the higher household income brackets indicate that Seminole County has already
been established as not only a concentrated pocked of high wage employment,
but also a desirable destination and homestead for the highest earners.
More than 22 percent of households eamed more than $100,000 annually in
2007, while approximately 16 percent earned under $25,000. In the next five
years, the under $25,000 income bracket is projected to shrink to 15 percent of
total households. Likewise, high income households are expected to increase.
The over $100,000 income bracket is projected to grow to 27 percent of total
households by 2012.
• The impressive household incomes and distributions within Seminole County
indicate the potential for high income support industries associated with
SeminoleWay targeted industry clusters and existing high wage employment.
Past Development Trends -Seminole County
Over the last 25 years, Seminole County has experienced, through careful planning and
influenced by various market forces, several shifts in the sizing and geographic
clustering of specific development, including office, industrial, and multi-family residential
uses. Understanding recent trends in land use changes in addition to the existing land
use picture of Seminole County more clearly highlights the path from where Seminole
County has been to where Seminole County desires to go.
Non population based employment generation has typically been spun'ed by office and
industrial uses. While other commercial uses, such as retail, generally exist to serve the
needs of existing population, these core uses have long existing as fountains of
employment attracting corresponding workforces. In addition, noting the geographical
distribution of multi-family housing can function as an additional indicator of major
geographical employment centers.
This brief land use analysis focuses on the past development trends of the office,
industrial, and multifamily residential uses and highlights the existing geographic
clustering of those same uses. The following table summarizes many of the land use
development trends in Seminole County for non residential uses:
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 24
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SEMINOLE COUNTY PARCELS
LAND USES -YEAR BUILT AND SQUARE FEET
COMMERCAL
TOTAL NUMBER OF PARCELS AND SQUARE FEET SUB-TOTAL
<1980 1980-1989 1990-1999 ~QQ 2~t Q1 2QQ~ 2 ,} 2 4 2 2QQf~ 2~,~7 00-2 7 TOTAL
RETAIL
Parcels 563 255 139 23 15 7 22 12 19 34 23 155 1,112
Square Feet 3,992,829 6,037,699 7,510,509 2,413,711 533,883 395,493 888,967 194,012 820,717 351,186 517,977 6,115,946 23,656,983
% total SF 16.9% 25.5% 31.7% 10.2% 2.3% 1.7% 3.8% 0.8% 3.5% 1.5% 2.2% 25.9% 100.0%
OFFICE
Parcels 383 824 268
Square Feet 2,290,643 5,985,054 4,595,817
% total SF 13.2% 34.4% 26.4%
INDUSTRIAL
Parcels 346 460 237
Squan3 Feet 6,040,796 8,414,548 6,647,869
% total SF 23.7% 33.0% 26.1%
VACANT COMMERCIAL
Panels
VACANT INDUSTRIAL
Panels
Source: Seminole County Property Appraiser Tax Roll, 2007; RERC research
42 22 30 23 57 105 118 100 497 1,992
769,532 829,243 795,457 165,045 318,448 356,113 694,396 613,623 4,541,857 17,413,371
4.4% 4.8% 4.6% 0.9% 1.8% 2.0% 4.0% 3.5% 26.1% 100.0%
24 31 20 35 22 30 45 108 315 1,358
418,079 904,428 607,347 785,237 221,637 350,765 632,358 470,456 4,390,307 25,493,518
1.6% 3.5% 2.4% 3.1% 0.9% 1.4% 2.5% 1.8% 17.2%
1,615
417
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN ZrJ
SeminoleWay Industry and Facility Analysis -Draft
The most notable highlights from the above table follow:
In support of recent population growth and corresponding increases in
employment, approximately 26 percent of all Retail and Office square footage in
Seminole County has been constructed and added to the tax roll in the last 7
years. Furthermore, more than 55 percent of all existing Office and Retail
development has been constructed since 1990. The relatively high proportion of
newer Retail and Office development indicate that the vast majority of these uses
are functionally adequate to serve the needs of the existing and future targeted
industries within Seminole County. This is further evidenced by the fact that less
than 17 percent of existing Retail space and only 13 percent of existing office
space was constructed prior to 1980.
• While opportunities for Office and Retail redevelopment certainly exist, in total,
Seminole County is likely well positioned to meet the needs of existing industries
in both the present and the near future.
On average, the functional age of Industrial development has exceeded that of
other non residential uses. Correspondingly, approximately 17 percent of existing
Industrial square footage and parcels were constructed between 2000 and 2007.
This older age is not necessarily indicative of a deficit in newer and suitable
Industrial space, as Industrial development typically exhibits more facile reuse
properties and is not as tightly tethered to population growth. The relatively older
age of Industrial development in Seminole County may however indicate a
decrease in Industrial land demand as the county transitions to other industries
and employment generators.
Office Trends
In order to better understand both historical office development trends and the existing
Seminole County office inventory, RERC analyzed recent and historical property
appraiser data. The following tables provide a breakdown of office square footage and
parcel counts within Seminole County for all existing office development by year built
and parcel square footage:
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 26
SeminoleWay Industry and Facility Analysis -Draft
COMMERCIAL SQUARE FOOTAGE
YEAR BUILT BY STRUCTURE SIZE
OFFICE
SQUARE FEET <1990 1990 -1999 2000 - 2007 Total
<10,000 2,526,983 758,761 1,218,075 4,503,819
of total 56.1 % 16.8• 27.0% 100.00
Parcel Count 1,072 223 416 1,711
10,000 - 49,999 2,174,668 913,248 1,222,293 4,310,209
of total 50.5% 21.2% 28.4% 100.00
Parcel Count 102 40 66 208
50,000 and Greater 3,574,046 2,923,808 2,107,684 8,605,538
of total 41.5% 34.0% 24.5% 100.00
Parcel Count 33 25 16 74
Total Square Feet 8,275,697 4,595,817 4,548,052 17,419,566
SF Time Period 47.5% 26.4% 26.1 % 100.0%
Total Parcels 1,207 288 498 1,993
Parcels Time Period 60.6% 14.5% 25.00 100.0•
Source: RERC Research; Seminole County Property Appraiser Tax Roll 2007
OFFICE SPACE SQUARE FEET
% of Total Square Feet <1990 1990 -1999 2000 - 2007 Total
<10,000 30.5% 16.5% 26.8% 25.9%
10,000 - 49,999 26.3% 19.9% 26.9% 24.7°k
50,000 and Greater 43.2% 63.6% 46.3% 49.4%
°h by Time Period 100.0% 100.0°~ 100.0% 100.0%
OFFICE SPACE PARCELS
°~ of Total Parcels <7990 1990 -1999 2000 - 2007 Total
<10,000 88.8% 77.4% 83.5% 85.9°k
10,000 - 49,999 8.5% 13.9% 13.3% 10.4%
50,000 and Greater 2.7% ~°(Q ~2fs ~°[Q
by Time Period 100.0% 100.0% 100.0% 100.0%
Source: RERC Research; Seminole County Property Appraiser Tax Roll 2007
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 27
SeminoleWay Industry and Facility Analysis -Draft
EXISTING OFFICE SQUARE FOOTAGE SIB DISTRIBUTION
The following summarizes key points from the tables above:
Much of Seminole County's existing office inventory is characterized by large
Class A and Class B office developments. Office parcels possessing 50,000
square feet or more of improved office space account for nearly 50 percent of all
improved office square footage. At the same time, Office parcels possessing
fewer than 10,000 improved square feet account approximately 26 percent of all
improved office square footage.
• Nearly 25 percent of the existing office developments possessing more than
50,000 square feet of improved space have been constructed since 2000. This
recently constructed space is more likely to be suitable and attractive to users of
both existing industries as well as users of potentially targeted industries in the
near future.
• In the decades prior to 1990, large scale office development (>50,000 s.f.)
accounted for approximately 43 percent of all constructed square footage and 3
percent of all office parcels, while small scale office development (<10,000 s.f.)
accounted for roughly 30 percent of square footage and more than 88 percent of
new parcels.
• Between 1990 and 2000 there was a shift in office construction towards large
scale office development, where developments possessing greater than 50,000
square feet accounted for more than 64 percent of office square feet construction
and nearly 9 percent of all new office parcels.
• The current decade has seen a shift back to pre-1990 office construction
patterns, as large scale office developments comprise just over 46 percent of the
office square footage constructed between 2000 and 2007.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 28
SeminoleWay Industry and Facility Analysis -Draft
Industrial Trends
Over time, Seminole County has experienced changes in the size and pace of Industrial
development. An understanding of the functional age of Industrial development, as well
as the size of development historically being constructed, can provide a useful snapshot
for determining the capability of Seminole County's existing Industrial space to attract
and support future users within any SeminoleWay targeted industry clusters. The
following tables provide a breakdown of industrial square footage and parcel counts
within Seminole County for all existing industrial development by year built and parcel
square footage:
COMMERCIAL SQUARE FOOTAGE
YEAR BUILT BY STRUCTURE SIZE
OFFICE
SQUARE FEET
<10,000
of total
Parcel Count
10,000 - 49,999
of total
Parcel Count
50,000 and Greater
of total
Parcel Count
Total Square Feet
SF Time Period
Total Parcels
Parcels Time Period
<1990 1990 -1999 2000 - 2007 Total
2,526,983 758,761 1,218,075 4,503,819
56.1 % 16.8• 27.0• 100.0•
1,072 223 416 1,711
2,174,668 913,248 1,222,293 4,310,209
50.5% 21.2% 28.4% 100.0•
102 40 66 208
3,574,046 2,923,808 2,107,684 8,605,538
41.5% 34.0% 24.5% 100.0•
33 25 16 74
8,275,697 4,595,817 4,548,052 17,419,566
47.5% 26.4% 26.1 % 100.0%
1,207 288 498 1,993
60.6% 14.5% 25.0• 100.0•
Source: RERC Research; Seminole County Property Appraiser Tax Roll 2007
OFFICE SPACE SQUARE FEET
% of Total Square Feet <1990 1990 -1999 2000 - 2007 Total
<70,000 30.5% 16.5% 26.8% 25.9%
10,000 - 49,999 26.3% 19.9% 26.9% 24.7%
50,000 and Greater 43.2% 63.6% 46.3% 49.4%
°h by Time Period 100.0% 100.0% 100.0% 100.0%
OFFICE SPACE PARCELS
of Total Parcels <1990 1990 -1999 2000 - 2007 Total
<10,000 88.8% 77.4% 83.5°h 85.9%
10,000 - 49,999 8.5% 13.9% 13.3% 10.4%
50,000 and Greater 2~Q $~Q ~°(s ~ 7°/s
% by Time Period 100.0% 100.0% 100.0% 100.0%
Source: RERC Research; Seminole County Property Appraiser Tax Roll 2007
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 29
SeminoleWay Industry and Facility Analysis -Draft
EXISTING INDUSTRIAL SQUARE FOOTAGE SIZE DISTRIBUTION
12.5°h
45.8% ^ <10,000
^ 10,000 - 49,999
^ 50,000 and Greater
41.5%
The following summarizes key points from the tables above:
• As industrially zoned lands within the county have been applied and developed,
the percentage of larger industrial parcels being developed and added to the
property tax rolls has declined. However, the larger industrial parcels, those
possessing greater than 50,000 square feet, have accounted for an increasing
portion of the total industrial square feet added to the tax rolls over time.
• On average, larger industrially developed parcels have been constructed more
recently than their smaller counterparts. Approximately 65 percent of Seminole
County's existing industrial developments smaller than 50,000 square feet were
constructed prior to 1990, while only 50 percent of existing parcels larger than
50,000 square feet were constructed prior to 1990.
Multi- Familv Residential Trends:
Typically, multi-family apartment residential development services a large percentage of
workforce and affordable housing demand. As such, apartment trends track both
changes in household incomes and demand for workforce housing over time. The
following table describes changes in the number of multi-family apartment parcels by
year built:
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 9O
SeminoleWay Industry and Facility Analysis -Draft
SEMINOLE COUNTY PARCELS
LAND USES -YEAR BUILT AND SQUARE FEET
RESIDENTIAL T OTAL PARCELS
<1980 1980-1989 1990-1999 2000_2007 T AL
SINGLE FAMILY 43,219 32,663 23,457 19,565 118,904
total 36.3% 27.5% 19.7% 16.5% 100.0%
CONDOMINIUMS 4,813 6,614 2,150 2,380 15,957
total 30.2% 41.4% 13.5% 14.9%
MULTI-FAMILY APT. 683 856 102 135 1,776
total 38.5% 48.2% 5.7% 7.6%
Source: Seminole County Property Appraiser Tax Roll, 2007; RERC research
The majority of Seminole County's multi-family apartment inventory is more than 17
years old. Nearly 77 percent of existing multi-family apartment parcels was constructed
prior to 1990. Almost 50 percent of all apartment development was constructed in the
1980s, concomitant with a boom in Office, Retail, and Industrial development during the
same period.
Apartment demand and construction dwindled during the 1990's, suggesting either a
surplus of adequate supply or more likely a shift in the housing preferences associated
with the users of the large scale Office development occurring throughout that decade.
Geographical Distribution of Existing Uses
Office Concentrations
The major office concentration in Seminole County is clustered around Interstate
Highway 4 between Lake Mary Boulevard and State Road 46A. Additional office clusters
exist at the intersection of State Road 46 and US Highway 17-92, the intersection of
State Road 46 and State Road 46A, and the corridors connecting I-4 and US 17-92 on
both State Road 434 and State Road 436. The following map depicts the major office
concentrations within Seminole County:
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 31
SeminoleWay Industry and Facility Analysis -Draft
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Number
Parcels Total
S uare Feet Range
SF Size Average
S uare Feet Range
Year Built Average
Year Built
Area 1 260 4,457,430 700 - 604,000 17,144 1975 - 2007 2001
Area 2 144 675,298 7,000 - 59,000 4,690 1935 - 2007 1980
Area 3 133 716,390. 200 - 72,000 5,386 1910 - 2006 1987
Area 4 726 5.560.152 200 -193,049 7,659 1920 - 2007 1984
TOTAL 1,263 11,409,270
Source: Seminole County Property Appraiser Tax Roll; RERC
Industrial Concentrations
A major industrial concentration exists along State Road 427 between 17-92 and
General Hutchinson Parkway. An additional major industrial concentration is clustered
immediately south of US 17-92 between Interstate 4 and State Road 46. A third cluster
occurs between US 17-92 and the Orlando-Sanford International Airport. The following
map displays geographic industrial concentrations within Seminole County:
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 32
SeminoleWay Industry and Facility Analysis -Draft
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Number
Parcels Total
S uare Feet Range
SF Size Average
S uare Feet Range
Year Built Average
Year Built
Area 1 311 5,870,445 600 - 197,000 19,000 1910 - 2007 1985
Area 2 114 2,032,130 713 - 261,000 18,000 1942 - 2004 1975
Area 3 ~ 11.442.940 720 - 563,000 20,252 1950 - 2007 1983
TOTAL 992 19,345,515
Source: Seminole County Property Appraiser Tax Roll; RERC
Multi-Family For-Sale and For-Rent Concentrations
Predictably, Multi-family for-sale and rent development has clustered around identified
office and industrial geographic clusters. The following map presents four multi-family
cluster areas within Seminole County:
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REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 33
SeminoleWay Industry and Facility Analysis -Draft
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Year Built Average
Year Built
Area 1 1,373 1982 - 2004 1991
Area 2 661 1924 - 2007 1977
Area 3 1,954 1937 - 2007 1976
Area 4 4.947 1957 - 2006 1981
TOTAL 8,935
Source: Seminole County Properly Appraiser Tax Roll Land Use Codes 03, 04 (condo) and 08; RERC
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REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 34
SeminoleWay Industry and Facility Analysis -Draft
Economic Development Resources
In order to craft the SeminoleWay vision and best identify the appropriate targeted
industry clusters and ascertain their feasibility and suitability for SeminoleWay, an
accurate inventory of the most relevant economic development resources within
Seminole County and the greater Orlando region was compiled by RERC. Before a
forward thinking approach can be fostered and policy, resource, and infrastructure gaps
can be remedied, it is necessary to understand the current economic development
resource inventory and its adequacy to support SeminoleWay target industries.
These economic development resources take the shape of existing infrastructure,
regulatory and incentive policies, financial resources, and educational support. Many of
the resources are offered by the economic development councils of Seminole County
and her municipalities, as well as Metro Orlando EDC, higher education systems, and
industry partnerships. The following sections highlight some of the most relevant
features the economic development landscapes of the greater region and Seminole
County have to offer.
Regional Resources
Infrastructure Resources
Telecommunications
• Orlando MSA is served by four local exchange carriers - AT&T, Embarq, Smart
City Telecom, and Time Wamer Telecom.
• Dense, regional, self healing fiber optic network referred to by industry insiders
as a "fiber optic cloud."
• ATBT, Time Wamer Telecom and Embarq will undertake specialized deployment
of technology intense applications and Fiber to the Premise on a case-by-case
basis.
• Other telecommunications assets include: data cabling systems, automatic call
distribution, interactive voice response, pbx and key systems, T1, T3, OC3,
OC48, OC 192, switched multigigabit data services, etc.
Orlando International Airport
• More than 36 million passengers served in 2007.
• North America's best large airport for customer service.
• 4th largest airport in the nation for domestic origin and destination.
• 2nd best airport in the world for customer service.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 35
SeminoleWay Industry and Facility Analysis -Draft
• 11th fastest-growing major airport in the world.
• 12th busiest airport in the nation; 21st in the world.
• More than 980 arrivals and departures daily.
• Scheduled non-stop service available to 86 domestic destinations and 16
international destinations (including direct flights to Monterey, Mexico and
Frankfurt, Germany).
• 17th largest port of entry for intemational visitors in the continental United States.
• 205,733 tons of cargo in 2007
• 205-acre park, Foreign Trade Zone No. 42, offers duty exemptions or deferments
for companies receiving materials from foreign countries.
• More than 15,000 acres, the third largest parcel of airport property in the country.
Only 35 percent of airport property is developed, leaving large areas available for
expansion.
Orlando Sanford International Airport
• Third most active intemational airport in Florida; 13th most active international
airport in the nation.
• Four paved runways ranging from 3,750 to 9,600 feet long.
• Rated for wide-body air carriers, with a Federal Aviation Authority air-traffic
control tower, approved instrument approach, aircraft service facilities and U.S.
customs office.
• Foreign Trade Zone No. 250.
• 395-acre Sanford Airport Commerce Park with rail service available in its western
sector.
• 50,000-square-foot cargo building, in the Sanford Airport Commerce Park,
enables cargo handling, pallet preparation and receiving.
• $25 million expansion that added atwo-story terminal complex of more than
120,000 square feet. Increasing total number of gates to 12.
• 13,500-square-foot incubator-the Airport Enterprise Center.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 36
SeminoleWay Industry and Facility Analysis -Draft
Specific Seminole County Resources
Res~ulatorv Resources
HIP-TI Future Land Use Zone
• High Intensity Planned Development -Targeted Industries Future Land Use
category
• Designated area governed under a set of land use policies intended to attract
target industries including high-paying Class A office and industrial uses.
• Located along the Interstate 4 corridor from the Lake Mary Boulevard
interchange to the St. Johns River.
• Approximately 600 vacant uncommitted acres remaining within HIP-TI zone.
Fast Track Permitting
• Seminole County and select municipalities within offer fast track permitting and
approvals for development consistent with specific targeted industries.
Financial Resources
Jobs Growth Initiative Fund
• Funds for expenses including impact and permit fees, relocations costs, capital
equipment, land acquisition, building construction, loan interest pay-down and
other assorted legitimate pro-business activities.
Qualified Target Industry Tax Refund Program Local Match
• Local tax match fund for qualified businesses in targeted industries.
Florida High Tech Corridor Council (FHTCC) Matching Grants
• Grants offered designed to foster applied research between Corridor Universities
and their high tech industry partners
• Since 1996, more than $43 million to fund more than 615 projects has been
provided in partnership with more than 250 companies
• $43 million in FHTCC grants matched by more than $90 million in corporate
expenses and federal grant resources
• FHTCC targets research and growth in the following industries: Agritechnology;
Aviation and Aerospace; Digital Media/Interactive Entertainment; Financial
Services; Information Technology; Life Sciences and Medical Technologies;
Microelectrics/Nanotechnology; Modeling, Simulation and Training; Optics and
Photonics; and Sustainable Energy.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 37
SeminoleWay Industry and Facility Analysis -Draft
Education Resources
University of Central Florida Technology Business Incubator Program
• The UCF Business Incubator program consists of six facilities throughout the
Orlando MSA including a 10,000 square foot facility in Winter Springs intended to
serve high tech growth start-ups in Seminole County.
• The UCF Incubator -Seminole County/Winter Springs is a partnership between
UCF, Seminole County Government, the City of Winter Springs, and the Florida
High Tech Corridor Council.
• 87-91 % of companies that graduate from a UCF incubation program are still in
business 5 years later.
• According to the National Business Incubation Association, every 50 jobs created
by an incubator client generate 25 more jobs within the local community.
University of Central Florida Technology Resources
• Institute for Simulation and Training (IST) -IST is an intemationally recognized
research institute that focuses on advanced modeling and simulation technology
and increasing the understanding of simulation's role in training and education.
• The Center for Research and Education in Optics and Lasers (CREOL) -
CREOL is an intemationally recognized center for research in a wide range of
optics and photonics technologies.
Seminole County Community Colleges
• Seminole CC
• Belhaven College
• Webster University
Seminole County Public Schools K-12
Seminole County Public Schools are rated among the best in the State of Florida
and among the top 100 school districts nationwide. The 2007 - 2008 student
population in Seminole County Public Schools was 65,794. The racial makeup of
the student population is as follows: White 58.5%; Black 13.65; Hispanic 17.9%;
Other 9.7%. Seminole County Public Schools boasts a higher rate of graduation
of 86.7% compared to the States 71 %.
The State of Florida Department of Education has rated Seminole County Public
Schools (SCPS) as an "A" district for the last five years. Though school
enrollment has experienced a slight decline in the past few years, student
enrollment has grown from 40,471 students in 1985 -1986 to 65,794 in 2007 -
2008. This is an increase of 25,329 students, a 63% growth rate or 2.3%
annually in a little over 20 years. The recent decline in school enrollment is
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 38
SeminoleWay Industry and Facility Analysis -Draft
attributed to several factors: apartment conversions to condominiums, housing
costs, property taxes, property insurance, long term demographic trends and
other economic factors.
• Seminole Public Schools is the largest employer in Seminole County with nearly
9,600 employees and 4,500 teachers.
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 39
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SeminoleWay Industry and Facility Analysis -Draft
Futures Analysis
The forward thinking SeminoleWay Vision can only be crafted with a precise
understanding of the existing economic industry conditions in Seminole County and the
region. A Futures Analysis will arm policy makers with a detailed picture of the current
economic landscape as well as begin to identify the appropriate paths leaders must
embark on to achieve the desired realistic economic and industry outcomes that are
feasible for the SeminoleWay corridor.
A futures analysis aims to quantify the economic potential for the SeminoleWay corridor
by accomplishing the following tasks:
1. Examining future industry formations to identify, rank, and measure potential
opportunities based on emerging sectors and clusters.
2. Identifying existing or future industries in the region and corridor which have
the greatest local competitive advantage.
3. Benchmarking clusters to measure how competitive a region is relative to
other similar regions or to the nation as a whole.
4. Indicating relative levels of supportable activity within the general study area.
Within that context, RERC retained Innovation Insight, Inc. of Wesley Chapel, Florida to
conduct a Futures Analysis for the SeminoleWay Corridor, Seminole County, and the
greater Orlando Metro Area. Towards that effort, Innovation Insight completed a detailed
economic cluster analysis, conducted a multitude of interviews with industry leaders and
stakeholders within identified and targeted clusters, and detailed the relevant
infrastructure needs of targeted SeminoleWay economic clusters. That work effort
follows:
Economic Cluster Analysis
• Economic cluster analysis was popularized by Dr. Michael Porter of Harvard
in the 80s. It became very popular for its focus on competitiveness factors
that included innovation, economies of scale, knowledge production,
networks, and relationships in addition to traditional factor (cost)
considerations of traditional economic geography.
While cluster analysis has become the most popular paradigm utilized by
professional economic developers, the process of intentional creation and
incubation of regional economic clusters is still poorly understood and
documented.
The effective geographic scale for cluster analysis is between national and
MSA levels. County and zip code-level geographic boundaries rarely can
contain a sufficiently comprehensive mix of supporting factors and industries
to constitute a true cluster. For that reason, county- and sub-county-level
analysis is best performed in context of the industrial makeup of the larger
metropolitan area.
There are effectively three ways that economic clusters can be intentionally fostered:
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 4U
SeminoleWay Industry and Facility Analysis -Draft
Organic: Identification of an existing competitive cluster to be fostered and
encouraged to grow via incentives, zoning, investment, and other economic
development activity. The rise of Boston's medical industries, Silicon Valley,
and Metro Orlando's aerospace industry cluster could be considered
examples of organic cluster development. All organic clusters have a
historical impetus.
• De Novo: Creating a new industry cluster "from scratch", with little to no
existing economic basis. The Florida Scripps facility, the original Disneyworld
development, and to a lesser extent the Burnham Institute in Lake Nona, can
be considered "De Novo" cluster development activity.
Secondary: Identification of niches, specialized related industries, and
specialized support industries and resources selected to capitalize upon (yet
developed separately from) an existing regional industry cluster or clusters.
This is based upon the recognition that a subregion may not have sufficient
basis for de novo or organic cluster growth on its own. However, a subregion
may be able to capitalize upon its geographic or supporting industry
characteristics to justify a distinct effort.
Research Framework
The objective of this research is to empirically identify the best probably focus for
economic cluster development activity regarding the "Seminole Way" region. The
best research framework will be one that comprehensively looks at both quantitative
(economic) data and qualitative (expert) feedback to rank and select cluster
candidates.
Given that the Seminole Way region is too small for cluster analysis independent of
the larger county and MSA, we believe that the best cluster candidates for the
Seminole Way region should be selected from the intersection of:
• Competitive existing or emerging industry clusters at the MSA level, in which
Seminole County has a competitive foundation.
A competitive level of supporting industries that are at the intersection of
multiple MSA-level industry clusters.
An existing minimal basis of industries within the 4-zipcode area of the
Seminole Way relevant to MSA-level industry clusters.
Compefi>tive MSA Clusters
In 2006, Innovation Insight, of Wesley Chapel, Florida, conducted a comprehensive,
empirical analysis of the Metro Orlando region's most competitive economic clusters
for the Metro Orlando EDC. The study looked at occupational activity, federal
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 41
SeminoleWay Industry and Facility Analysis -Draft
procurement and grant award activity, patent and intellectual property activity, and
industry salary, productivity, and specialization data. The study looked at recent
historical trends and forecasted five years into the future. The Seminole Way cluster
analysis takes advantage of this very comprehensive body of regional data, and
through comparison with more recent data confirms that the 2006 study's findings
are still relevant.
The most competitive clusters overall were identified as the following:
• Information services
• Precision instruments (closely tied to "photonics and lasers")
• Basic health services
• Business /professional services
• Computer and electronic equipment (the fastest growing cluster overall)
• Higher education & hospitals
• Aerospace
• Hotel and transportation services
The following clusters were considered "emerging" -while not specialized in terms of
significant employment, they were found growing and attractive due to other features
such as salaries, productivity, and procurement activity.
• Arts and media (tied to "film and entertainment" as well as "digital media")
• Construction machinery and distribution equipment
• Nondurable industry machinery
• Financial services and insurance (one of the highest paying clusters)
• Nonresidential building products
REAL ESTATE RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 42
SeminoleWay Industry and Facility Analysis -Draft
Metro Orlando Industry Clusters
Employment Relative to the United States
2DOM2009 Forecasted Growth
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Metro Orlando MSA versus Seminole County: Cluster SpeciaNzaticn and Employment
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MSA (Regional) Speclallzadon
SeminoleWay Industry and Facility Analysis -Draft
The previous "bubble" chart compares regional cluster specialization (horizontal axis)
against Seminole County specialization (vertical axis). The size of the bubbles
represents relative estimated employment in Seminole County. Essentially, the farther to
the top right (green quadrant) a cluster is, the more competitive it is both in the County
and the region.
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The MSA-level cluster data was compared with the most recent available industry data
at the county and local level. The best foundation for economic development activity in
the Seminole Way area must reflect an intersection of regional, county, and local cluster
industry advantages. The following chart compares the overlap of:
• The most competitive regional-level clusters (bottom left circle)
• The clusters in which Seminole County has a disproportionate share of the
region's employment (top circle)
• Clusters in which Seminole County has a significant basis of industries that
are supporting industries to the region's top clusters (bottom right circle).
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ConDe::ve Ecerome CUeler
'Ernerpm~' EooroTic Ctw'ier
The strongest intersection of MSA clusters with strong Seminole County economic
activity as primary industries or support industries include:
• Financial Services and Insurance
• Technical Research and Consulting
To a lesser extent, the following clusters also show strong intersection:
• High-Tech Information Services
• Business Services
• Hotels & Transportation Services
• Architectural 8 Engineering Services
• Higher Education & Hospitals
• Wiring Devices 8~ Switches
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Cross-Cutting Recommendations and Observations: Clusters
The objective of the empirical cluster research was to identify a few industry clusters
with an existing foundation, and synergy with regional growth and strengths.
The interviews and background research extended these goals to identify the
feasibility of promoting core clusters as a long-term economic development strategy
that complements, but does not compete with, other regional efforts in these clusters.
Four "core" clusters were identified that met these criteria:
• Financial services and information services
• Digital media including modeling and simulation, film and broadcasting,
themed entertainment and animation/game development
• Life sciences including biotech and medical instrumentation
• Technical and research services including civil and environmental
engineering and to a large extent architectural and engineering services
Based upon the research, we further refine the recommended strategies for the core
clusters as follows:
Green biotech: the intersection of plant-based biotech and biofuels research
and production. For the life sciences cluster, focus on the availability of a wet
lab facility for small businesses, providing cluster-specfic ongoing training
and seminar resources, identify and foster intermediary manufacturing
solutions for enzymes, pharmaceuticals, and other biologicals to encourage
local growth and retention, build shell facilities to support build-in biotech/life
sciences companies, and develop a zoning and construction plan for
additional greenhouses and dedicated agricultural property to support plant-
based research and development, research trials, and contract and
intermediary manufacturing of biologicals. Develop a cellulosic enzyme
production strategy to support Florida's growing ethanol biofuels industry in
partnership with UCF researchers and major blended fuels consumers such
as FPL Energy.
Green Buildings: a starting point for the region's technical, civil,
environmental and related engineering services industry, which constitutes
much of the technical and research services cluster. This is a desirable
cluster in terms of wages and growth, but its growth is largely driven by local
development activity. Given Governor Christ's endorsement of Green
Building concepts and the relative lack of LEED-certified engineers in Florida,
a consortia-based approach to reducing the costs for local firms to certify
their engineers can help to reduce import of LEED-certified engineering
services and increase the ability of local firms to compete for projects both
inside and outside of Florida.
The financial services /information services cluster will benefit from
continued support of the Heathrow /Lake Mary region. However, for
purposes of the Seminole Way corridor, an increased focus on smaller
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companies (10-40 employees), an extension of efforts Eastward along Lake
Mary Boulevard, and along-term plan to map, improve, and promote quality
broadband /wireless telecom, power, and transportation infrastructure in that
area will help to increase the attractiveness and competitiveness of that area
for financial and information services companies.
The digital media media cluster has tremendous potential for the region. A
strong incubation and small business support strategy will most complement
Orlando's developing Creative Village concept and the Florida Interactive
Entertainment Academy (FIFA), particularly as there is evidence that much of
the industry is characterized by freelancers and home-based service
providers. The strategy for this cluster should support the recent Digital
Media Banner Center awarded to Seminole Community College, and
extending its services and benefits to other SCC campuses. This cluster will
also benefit from services and resources to help freelancers and small
businesses convert and stay abreast of the latest digital /high definition tools
and standards. This cluster may also benefit the most from the availability of
an incubator or other shared facilities supporting very high intemet broadband
capabilities and perhaps shared computational/rendering farms and
audio/visual studios.
• The Orlando-Seminole Intemational Airport is potentially a tremendous asset
to the Seminole Way region. However, its potential will remain largely
unfulfilled from an economic development standpoint unless its portfolio of
national and intemational direct flights can be significantly increased. Its
value for the core clusters includes:
• Access to clients and markets and other business units by the financial
services sector. However, most travel in this cluster is probably focused
through the Orlando Intemational Airport.
• Flexible building shells for the life sciences /biotech cluster.
• Hobby /executive pilot resource for all clusters. Business /office park
property near the airport will be attractive to corporate CEOs, founders
and entrepreneurs with active piloting interests.
• Available undeveloped property
Each of the "core" industry clusters discussed (life sciences, digital media,
financial services /information services, and technical /research services)
identified broadband intemet connectivity as a competitiveness factor. For
life sciences and technical /research services, this is probably mostly a
matter of preference that will be addressed by market forces (they will pay for
what the level of connectivity they need). However, for financial /information
services and especially digital media, broadband connectivity can be a "make
or break" competitiveness issue in the next ten years.
• Financial services products and transaction processing are increasingly
reliant upon Internet connectivity, and trends within this industry are toward
globalization of business processes (geographic distribution of business
units) that require spotless and continual broadband connectivity. Perhaps
most important (anecdotally) is the perception of overall consistency and
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quality of all telecommunications services available to this industry versus
ubiquitous broadband availability.
Digital media companies will have the greatest, and fastest growing needs for
connectivity in order to communicate with clients, deliver large, dense media
content, to stream audio and video, and even for remote processing and
computing tasks. Increasing the broadband connectivity for a building can
vary tremendously by location and service provider, resulting in 3-10x
increase in costs for both infrastructure (cable and fiber) as well as monthly
service. In consideration of these costs and the fact that much of this cluster
consists of small companies and freelancers, the best strategy may be to:
Create a county "broadband map", including which buildings already are
wired to 1000baseT ethernet, the location of fiber trunks (connecting a
building to a trunk across the street or further can cost an additional
$60,000 or more), and which buildings already have OC-3 or greater
connections.
Build up a few "islands" of broadband, including a business incubator and
possibly a few other multi-tenant office buildings as supported by demand
with OC-3 or greater connections. These buildings may require
inexpensive cellular repeaters to further support ubiquitous connectivity.
It should be noted that 802.11# wireless "hotspot" availability was not
identified as a significant issue for any of the interviewed clusters.
Four Seminole Way Clusfers
Cluster: Dis~ital Media
From the cluster analysis, the "Arts and Media" industry cluster best
represents digital media activities. Digital media is closely tied to UCF's
Institute for Modeling and Simulation, as well as UCF's School of Film and
Digital Media. In the region, major attractors include the EA Tiburon
headquarters (NE downtown area), the Creative Village complex (downtown),
the Florida Interactive Entertainment Academy (FIFA) and UCF.
• Professionals in the digital media sector are best understood as "creatives",
with special lifestyle and working environment expectations that differs from
other professions especially from an economic development perspective.
The digital media sector is undergoing rapid transformation and growth, as
many traditional industries (advertising, public relations, publishing, broadcast
and film industries) struggle to embrace new regulations for high-definition
television and consumer demand for electronic and mobile communication.
This is particularly true of the region's film and broadcast industry, which can
benefit from support as it shifts from analog /traditional film, audio and
photography platforms toward digital /high-definition /effects and animation
services in order to remain competitive.
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By February 17, 2009, the FCC will require all television broadcasters to
transition from analog to digital television. Although there is no regulated
cutoff date, US theaters are also quickly installing digital cinema systems to
replace traditional analog projectors. As these transitions take place, all film,
broadcast, commercial and studio services providers (in the metro Orlando
region or anywhere else in the US) that remain in business will effectively be
entirely "digital media" producers.
In general, professionals in this sector can benefit from increased local
access to non-degree, even non-certificate training to stay abreast of latest
design and communications innovations and tools.
• The Metro Orlando region has the capacity to distinguish itself in this sector,
and is anecdotally comparable to growing digital media metropoles such as
Vancouver, Raleigh-Dufiam, Salt Lake City, Singapore, Montreal, and
Austin, Texas.
In practice, the digital media cluster in the metro Orlando region is characterized by
the following categories:
• Large themed entertainment providers (Universal, MGM, Disney). The digital
entertainment needs of this sector are most closely tied to the interactive
environment technologies of the modeling and simulation sector.
Traditional 2D film /television /commercial production studios (Universal,
MGM, Disney) and the previsualization, pre- and post-production companies
that support that industry. This sector is undergoing tremendous
transformation in face of demand for digital film content. The largest number
of companies in this sector appear to be small service providers and
freelancers.
• 3D design, digital effects, flash / actionscript, and animation studios.
• Marketing, advertising, and public relations agencies that have added
capacity to deal with intemet and design needs of their clients.
• Digital communications companies, such as IT TV, streaming media,
podcasting, videocasting, teleconference solutions and content providers.
Little attention has been given to this category, and is probably characterized
by freelancers and very small operations.
• Digital gaming and game design companies such as Electronic Arts / Tiburon.
The digital gaming industry is beginning to rival the film industry for the "box
office" revenue generated by individual titles.
• Graphic design, digital and print publications, web design and digital art
companies.
• GIS (Geographic Information Systems), geocentric media, and mobile media
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• Digital design and arts schools such as Full Sail
Other niches such as e-learning /education, audio and sound design,
medical /technical /architectural visualization, forensic legal animation,
digital media portal and content providers, and others.
Infrastructure
• The majority of regional digital media companies are small service operations
(1-3 employees) and freelancers.
• General facility/ infrastructure needs are described by flexible /inexpensive
buildings and office space with very strong broadband intemet connectivity.
Many freelancers operate out of home businesses, often with a network of
collaborators /subcontractors to deliver larger client projects.
Some categories of digital media, particularly those focusing on
communications, will be attracted to and benefit from above-average
bandwidth and Internet infrastructure access points as they reduce packet lag
and delay. In practice, this probably translates to 1000baseT ethernet
connectivity within buildings and an OC3 fiber or greater external (street-to-
building) connectivity. The cost and other infrastructure considerations of
such increased connectivity are discussed in the "Crosscutting observations"
chapter earlier in this document.
The most unique requirement of this sector is one of environment and
lifestyle. Digital media companies will be attracted to "artist communities"
and liberal, avant-garde neighborhoods with trendy restaurants, retail and
"raw food" stores as might be found "in L.A." (or Austin, or New York, or San
Francisco...). The downtown "Creative Village" concept, if properly fostered,
might address this environmental aspect; in the short term the Seminole Way
region should not try to duplicate or compete with the Creative Village to
establish a centralized "creative neighborhood" environment.
Digital Media Recommendations
Seminole Community College has recently received funding for an Employ
Florida Banner Center focusing on digital media. It will be important to help
market and promote this center. Although the Banner Center was
established at the SCC Heathrow Center, it may be important to explore how
the center's resources can be marketed and extended to the SCC Oviedo
and Lake Mary campuses as well.
The UCF incubator system can be enhanced and specialized to support small
startup digital media companies, including startups and those growing from
home-business operations. This will require greater Internet connectivity
and perhaps access to more (time and cost) critical technology resources
such as audio/visual studios and shared /leased rendering farms. Similar
digital media business incubators include the Parco Scientifico Tecnologico
Di Venezia (Italy), the Digital Media Center at the Rancho Santiago
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Community College District (Santa Ana California), and the Los Angeles
Digital Media Campus.
The UCF Institute for Simulation and Training will soon announce a new
initiative and new resources for research and applications on parallel
processing architectures, which may become a resource which could be
extended for small digital media companies. Alternately, some digital media
companies are beginning to rely upon rendering "utilities" - outsourced
rendering farms which charge by the "gigahertz hour" to perform processing-
and resource-intensive operations on uploaded data. By making reduced-
cost processing resouroes available, digital media companies focused on
animation, modeling and simulation may be made more competitive.
Eventually, there may be potential to further foster regional innovation in this
sector through partnership and access to extreme high bandwidth Internet
backbones such as the National LambdaRail or Intemet2 consortia, if access
can be extended to small companies for research and development of new
products and platforms. This would intersect with UCF's strengths in the
School of Electrical Engineering and Computer Science and the Center for
Research and Education in Optics and Lasers (CREOL). However, the
LambdaRail / Intemet2 networks currently only extend to Jacksonville, so this
will not be a consideration until it can be extended to Orlando (which is not
part of current deployment plans).
It will be important to focus on helping to train, strengthen, and build
partnerships among the region's home-based digital media companies and
freelancers. Freelancers constitute a significant percentage of
establishments in this cluster, have the fewest resources available for growth
and training, and are at the greatest risk of becoming uncompetitive due to
shifting technology platforms and demands. As each freelancer is also an
independent entrepreneur, they also constitute a significant pool of potentially
new and growing companies if properly fostered. Such resources could
include:
• Training/ seminars to help professionals remain abreast of latest digital
media technologies in design, animation, digital film production, digital
audio and video solutions, and digital communications
• "Design for non designers" training to help expose technologists to
fundamental concepts of art and design
• Resources to help link, manage, and promote small companies and
freelancers to collaborate and compete on larger projects
• Project management, costing, and visualization resources
• Directories of local digital media service and product providers
• Opportunity identification and creation -promoting local strengths and
helping to connect local digital media projects to local providers
Digital Media Case Study: Flinch Studios
Company Size: 1-2 employees plus freelancer/ contractor network
Facility /Infrastructure: Home-based business
Description: Animation and creative media
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Summary: Founder originally owned a 20+ employee 3500 square foot studio in
Los Angeles, but relocated over ten years ago to Florida for family /affordability
considerations. Expresses interest in the Creative Village efforts and would be
strongly attracted to an environment that captures some of the lifestyle
environment and creative energy found in LA. Majority of business and exposure
is national /outside of Florida, as are most subcontractors /partners.
Cluster: Life Sciences
From the cluster analysis, "Life Sciences" can include "Hospitals and Higher
Education", "General Health Services", "Pharmaceuticals", and even "Medical
Instrumentation Manufacturing".
The core life sciences companies in the region are very heterogeneous; there
is a wide mix of instrumentation and device manufacturers, medical biotech
(stem cells, organics and protein manufacturers), pharmaceuticals
manufacturers, green biotech companies (agricultural and biofuel), and other
companies. This is not necessarily a shortcoming, but might complicate
marketing efforts and is evidence of a relatively early and immature regional
life sciences ecosystem.
Interviews reveal an anecdotal belief that there are over 2,000 biotech
companies in the Metro Orlando region. However, any estimate of biotech /
life sciences companies based upon industry codes should be suspect; these
industries are poorly categorized by the NAICS system and there are
probably less than five dozen true pharma, biotech, and life sciences
innovation companies currently operating in the metro Orlando region.
Life sciences -particularly pharma and biotech -are probably the most
sought-after industry sectors in the U.S., and probably the most intensive in
terms of requirements for investment and intellectual capital. A strategy that
focuses on this sector should not be adopted without a serious commitment
of investment and resources.
• Major regional attractors will include the Burnham Institute (to the South, as
part of the Innovation Way), the UCF Biomolecular Science Center, 44
regional hospitals, the M.D. Anderson Cancer Center Orlando, and as it
grows, the UCF Medical School.
Life Sciences Cluster: Infrastructure Requirements
Based on interviews, we break down the life sciences industry into four categories:
startups, growing concerns, intermediate to mature companies, and research
institutions.
• Startups are currently well served by the UCF incubator system, but the
relative lack of "wet lab" facilities results in a need for most startup life
sciences companies to locate as close to UCF as possible to take advantage
of university laboratory facilities. Startups are very sensitive to finance and
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investment issues, but also to the experience and entrepreneurial resources
of their founders.
Growing concerns -maturing companies, and those that theoretically may
"graduate" from the incubators -currently face a dangerous lack of buildings
with wet labs, and similarly a lack of local biologicals, proteins, enzymes, and
pharmaceuticals manufacturing options. Without local solutions to support
research trials and limited run production, local biotech companies may be
forced to build partnerships with production companies outside of the state,
as was the example with Chlorogen Inc. Unfortunately, in such cases,
research and product development is hampered and the likelihood that the
company will relocate out of the state is very high. Investment issues, as well
as regulatory, quality control, marketing, and management are also key
limitations.
Intermediate to Mature companies are those with a foundation of financing,
independent facilities, and existing product lines currently under or nearing
production or license. While more likely to survive, mature companies remain
sensitive to investment, research, and regulatory limitations. Landing a
portfolio of mature life sciences and biotech companies within the region
would be one primary goal of pursuing the life sciences cluster.
Research facilities, such as the Burnham Institute and M.D. Anderson, will
be the most significant attractors to the region outside of the university and
medical school. Their infrastructure needs will revolve around custom
facilities with extensive wet labs, instrumentation, and support for relatively
larger numbers of research faculty. In contrast, production and
manufacturing will be less important considerations.
Life sciences companies of all sizes (although to a lesser extent for startups) benefit
from strong air transportation resources and specialized training and professional
services. Few industries are subjected to higher levels of federal scrutiny; the FDA
clinical trial regulatory system significantly multiplies the cost and risk of bringing new
life sciences products to market. Further, HIPAA and manufacturing quality
requirements also increase security and manufacturing costs for this industry.
"Wet labs" differentiate from other laboratory and research facilities in their ability to
handle chemical and biological materials. In practice, this signifies
• Special water and waste handling systems
• Special air treatment, purification, and circulation systems
• Special building security, control, and perhaps storage systems
• Individual companies will have additional "wet lab" needs that will be
differentiated by their specialty (e.g., a stem cell company's need to
handle cell cultures may be different than a pharmaceutical manufacturer
that specializes in organic chemicals).
Aside from wet labs, life sciences companies will benefit from strong broadband and
wireless connectivity and a range of standard business /office space leasing options
(in terms of cost and amenities).
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In general, timing is a significant concern for new /relocating life sciences
companies. It is often less expensive and less time consuming to "build into" a shell
building than to renovate an existing building to support the wet lab and other needs
of a life sciences company.
Life Sciences Cluster Recommendations
The Seminole Way region can develop a viable life sciences strategy that
complements the Lake Nona /Medical City /Innovation Way Corridor. However, it
will have to embrace a focused strategy and commit to specialized resources and
investment to pursue this cluster. There is a perceived window of opportunity
resulting from the combination of the new medical school, the Medical City complex,
the Burnham Institute, Scripps, and entrepreneurial /research activity out of UCF
that can be capitalized upon if swift and committed steps are taken.
1. Establish a life sciences zone adjacent to the Orlando Seminole International
Airport.
2. Establish a Life Sciences director /liaison to interface with airport authorities,
economic development organizations, and life sciences companies.
3. Identify local manufacturing solutions. The first step will be to build a
comprehensive list of local manufacturers with excess capacity and the ability to
support life-sciences related products. Vitamin, hygiene, beauty, healthcare, and
similar products manufacturers may be likely candidates, as are packaging
manufacturers and other existing life sciences companies.
4. Identify local manufacturing solutions (continued). Eventually, more specialized
contract manufacturing solutions for the production of custom enzymes, proteins,
and other organics will be important. One strategy could be to attract /support a
contract bioreactor operation. An alternate strategy would be one that focuses
on green biotech -utilizing transgenic plants (such as tobacco) to produce the
target biological. This strategy has the advantage of synergy with recent Florida
biofuels initiatives, the expertise of several faculty at UCF, and Florida's
climate/environment. The establishment of a new GMP (good manufacturing
practice) contract enzyme or production facility can cost $5-10 million or more, so
additional conversations will need to be conducted with Florida companies to
identify a viable near-term solution.
5. Build an incubator in the airport zone with ashared-use /leased-use wet lab
facility. The Medical City /Innovation Way complex currently has no wet lab
facilities available to external companies or researchers. A comparable
facility might be the New Orleans "BioSpace1" business incubator, which has
60,00 square feet of incubator space and over a half million dollars worth of
shared wet laboratory facility for tenants. Other relevant incubators include the
TechColumbus incubator, the University of Manchester incubator, the University
of Michigan SPARK incubator, Biotechnology Development Center of Greater
Kansas City, and others.
6. Build several multi-use "shells" in the airport zone with complete utility hookups.
The shells can be used for air hangars and storage, and as demand increases
they can be leased to companies to "build in" custom office, lab, production and
shipping space.
7. Build one or more greenhouses in the airport zone. It is recommended that this
be managed with the participation of Twyford International, a Northwest Orange
County greenhouse research facility which is nearing 80-90% capacity.
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8. Zone acreage in the airport zone for green biotech agriculture, specifically larger-
scale production of designed proteins and enzymes. Florida has five federal and
state funded ethanol fuel refineries that could also provide immediate demand
and resources for a dedicated green biotech production operation. Florida has
the potential of converting 500 to 900 million gallons of ethanol from agricultural
waste and energy crops annually (10% or more of all fuel needs). Although there
are other technical and economic hurdles, one of the bottlenecks toward meeting
that goal is the availability of cellulose-reducing enzymes. UCF plant-based
research has shown the potential to produce tobacco crops that produce 25% or
more of their mass in targeted enzymes; by capitalizing on the research of
individuals like Dr. Henry Daniell and zoning for transgenic research crops, the
Seminole Way could become a focus point for green biotech and biofuel
research and industry. Note -the biofuel industry, particularly the sector focusing
on enzyme research and production -utilizes most of the same resources as the
larger biotech sector, but does not have the same regulatory requirements or
costs.
9. Establish a partnership and directory of regional legal, accounting, and regulatory
specialists with expertise in clinical trials, human research, FDA regulation,
HIPAA regulation, medical manufacturing, and medical intellectual property
issues. Through the UCF incubator system, organize a regular schedule of
training courses or seminars by these experts to help increase the sophistication
and awareness of regional life sciences entrepreneurs. There are no
specialized local training resources for this sector, which has greater need
than most other sectors.
10. Establish an aggressive economic development marketing and recruiting
campaign that promotes the region's resources, demographics, and workforce.
Life Sciences Cluster Case Study: TopoGen Inc.
Company Size: 5-8 employees
Facility /Infrastructure: 1500 square foot/ 2 story Daytona Beach based converted
airport hangar
Description: Research and diagnostics company focusing on DNA targets,
antibodies, enzymes, reagents and kits)
Summary: Founder was attracted to the Volusia airport partly due to lifestyle
considerations (founder is a pilot) and partially due to transportation considerations.
Had originally approached the Orlando-Seminole International Airport but was forced
to contract with the Volusia airport instead. Company has its own custom wet labs,
water processing, conference and media rooms, production laboratory, dry ice
storage and shipping facilities. Company's products are too niche-oriented to require
external protein /enzyme manufacturing capacity, but regulariy serves as external
sponsor for SBIR / STTR applications with UCF faculty conducting biotech and
biomolecular research. Founder is an active entrepreneur with significant experience
with other universities and research park efforts.
Cluster: Financial Services and Information Services
The Financial Services cluster is one of the region's most desirable sectors in terms
of growth and wages. From an economic development perspective, it focuses on
non-retail and non-depository financial services such as back-office and
infrastructure banking operations, insurance carriers, securities and commodities,
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SeminoleWay Industry and Facility Analysis -Draft
and other technology-oriented financial products. The Financial Services cluster
shares many characteristics with the Information Services cluster. The major
attractors for these clusters will focus on transportation, facilities, and workforce.
The Lake Mary /Heathrow region is gaining recognition as a valuable business
location for this cluster. Major employers include State Farm (Winter Haven, 800+
employees) and Continental Casualty (Orlando, 800+ employees). For IT, a very
major employer includes Lockheed Martin Information Services (Sand HIII Lake
Road area).
Financial and Information Services Cluster Infrastructure Requirements
In practice, financial services share infrastructure needs similar to any technology-
intensive business, with the addition of redundant power and communications and
access to transportation corridors:
• "A" and "B" office and business park space
• Strong broadband and wireless telecommunications and stable power
infrastructure. Possibly independent power backup systems for larger
operations.
• Access to skilled IT, professional services employment base
• Access to transportation -road corridors for employees, and air transportation
for business and client access
• Strong security considerations
Financial Services and Information Services Clusters: Recommendations
Focus on small- to medium-sized nondepository and technology operations,
and the establishment, renovation, or promotion of business offices facilities
to support them. Larger companies will be attracted to the Lake Mary /
Heathrow region, but smaller companies may be more attracted to less
expensive and more flexible opportunities in the Seminole Way corridor.
Prior research has shown that there is significant long-term value in attracting
even small "foothold" operations of national and intemational financial
services corporations, which are more likely to expand existing operations
than to establish major facilities in regions in which they do not already have
an existing presence and management structure.
This sector will also benefit from significant resources in high broadband
intemet, wireless and telecommunications infrastructure, as both financial
services and information technologies industries become increasingly
globalized (with internal operations distributed geographically) and provide
increasing training, product and service delivery, and client interactivity via
the intemet.
Expand national and international direct-flight offerings at the Orlando-
Seminole International Airport. The airport has the potential to be a significant
resource for this sector, but (anecdotally) it is currently limited in direct access
flights to key US regions and as such cannot compete for traffic via the
Orlando International Airport even though it is significantly farther. It is a
chicken-and-egg problem, but the addition of a wider range of national and
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SeminoleWay Industry and Facility Analysis -Draft
international direct flights will be necessary before this sector embraces the
Orlando Seminole International Airport.
Financial Services Cluster Case Study: Premiere Trade Inc.
Company Size: 30-40 employees
Facility /Infrastructure: 15000 square foot standard office facility in Altamonte
Springs
Description: Company provides market analytical software, training, and education
services to support money management and investment activity including stocks,
options, and mutual fund investing.
Summary: Company was established in central Florida because founder lived in the
region and the affordability of central Florida. Current activities are strongly intemet-
based, newly focused on business-to-business markets, and telecommunications
and transportation considerations are very significant. The company is considering
relocating to the Lake Mary area, attracted to the other financial services activity and
to provide better on-site access by clients who primarily fly in to Orlando International
Airport due to availability of national and international direct flights. Company must
support increasing needs for a dedicated and sophisticated broadcast studio,
classroom areas, large computer server infrastructure, and stable/ deep power and
telecommunications infrastructures.
Cluster: Technical and Research Services
• Locally, this sector appears to share connections with regional strengths in
the Nonresidential Building Products, Architectural and Engineering Services,
and possibly Wiring Devices and Switches clusters.
While this cluster does frequently include biotech and medical-related
laboratories, the majority of establishments usually focus on civil and
environmental engineering and design services. As such, most companies in
this cluster are focused on serving and supporting local growth and
development.
This sector is not driven by innovation or technology development despite
high wages and high skill requirements and the scientific /engineering /
laboratory expertise of most of its companies. Although UCF has a very
strong Civil and Environmental Engineering program that attracts many local
companies in this cluster, the benefits to the companies revolve mostly
around access to students, promoting a specialized workforce, professional
development, and company prestige.
• Given the focus on supporting local development and construction projects,
ongoing collaboration will likely be difficult to foster except around specific
issues. The greatest concerns to this sector include workforce /talent and
government regulatory barriers regarding bidding, design, and construction.
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SeminoleWay Industry and Facility Analysis -Draft
Technical and Research Services Cluster: Infrastructure
Companies in this cluster require "A" and "B" office facilities with strong
Internet and telecommunications support.
Technical and research services companies exist at all sizes, from 1-2
employee architectural design and engineering consulting companies to large
multi-capacity engineering agencies.
• Frequently, companies will build their own environmental and soil testing
laboratories, which are easier to incorporate into new /shell buildings than by
renovating or refitting existing buildings.
Technical and Research Services Cluster: Recommendations
• In context of the Governor's focus on "green buildings" and other Florida
strengths in solar power and green biotech, one way to promote this sector
will be to focus on LEED Green Building certification, Energy Star and
Intelligent Building design solutions for local companies.
Currently (and anecdotally), few Florida design and engineering firms have
LEED certified engineers. New projects that require a "green building"
designation require LEED certification, which results in business going out-of-
state. Thus, widespread LEED adoption among Orlando-region companies in
this cluster will not only increase their competitiveness and reduce reliance
on imported services but will also increase the impact of Florida "green"
construction projects.
• A limited series of LEED certification training programs should be
implemented through UCF or SCC. A viable precedent might be the
industrial "consortia" approach utilized by the University of South Florida (via
the ORBIT organization between 1997-1999) to jointly underwrite costs for
multiple companies to achieve IS0900# and Six Sigma certifications.
• If the joint LEED certification program is successful, the participants might be
leveraged into forming a regional "Green Building /Intelligent Building"
network and more permanent training /certification programs via SCC and
UCF in the Seminole Way corridor.
• While a "Green Building /Intelligent Building" sector strategy will not benefit
from economic development recruitment efforts, it may help to promote the
region as a desirable location for new industry.
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SeminoleWay Industry and Facility Analysis -Draft
Technical and Research Services Cluster: Case Study - Ardaman ~ Associates
Company Size: 450+
Facility /Infrastructure: Standard high-end office facility with laboratory capabilities
Description: Geotechnical, environmental, water resources, facilities, construction
and hazardous waste engineering
Summary: Established in 1959 in Pine Castle (Florida), the company moved into its
current location in 1981, and currently boasts one of the largest soil and materials
analysis laboratories in the state. Corporate headquarters is based in Orlando, with
11 branch offices in Florida and Louisiana located primarily to take advantage of
regional construction and industry needs. As a major employer, the company is on
the UCF board of affiliates and actively supports and sponsors UCF civil and
environmental student organizations. Company is a member of the Florida Institute
of Consulting Engineers.
REAL ESTA7E RESEARCH CONSULTANTS, INC., INNOVATION INSIGHT, GLATTING JACKSON KERCHER ANGLIN 60
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Phase 2 Report -December 2008
Facility Needs and Resource Inventory
'~~ ~ RESEARCH
C O N S U L T A N T S
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Phase 2 Report -December 2008
TABLE OF CONTENTS
INTRODUCTION: Conclusions and Recommendations from the Phase 1 Report I-1
The Vision for SeminoleWay I-1
Economic Futures Analysis I-2
PART A: Target Industry Facility and Infrastructure Requirements A-1
Introduction A-1
1. Life Sciences A-1
2. Digital Arts and Media A-4
3. Financial and Professional Services A-5
4. Research and Technical Services A-5
PART B: SeminoleWay Interchange Properties 6-1
Introduction B-3
Final Property Inventory B-4
1. State Road 46 -Rinehart Road B-5
2. Sanford HIP Area B-6
3. County Road 46-A - 25t" Street B-7
4. US Highway 17-92 B-8
5. State Road 434 -Winter Springs Boulevard B-9
6. Red Bug Lake Road B-10
7. State Road 426 - Aloma Boulevard B-11
8. Lake Mary Boulevard Extension
PART C: Marketing and Incentives -Findings and Recommendations C-1
Introduction C-1
SeminoleWay "Critical Path" to Implementation C-2
Economic Development "Tool Kit" C-4
University of Central Florida Incubation System C-6
• ~
Phase 2 Report -December 2008
INTRODUCTION: Conclusions and Recommendations from the Phase 1
Report
A brief summary of the findings and conclusions of this first phase evaluation of the
SeminoleWay economic development vision is presented here in relation to the major
topic areas addressed in that report. The April 20081ndusfry and Facilities Analysis
report and its appendices provide a more expansive presentation of the study's key
findings.
The Vision for SeminoleWay
What Seminole County community and government leaders want are high value
investments and high wage jobs in target industries sectors that will provide economic
stability and growth for the next twenty years, or more. For many in local leadership
roles, the vision is embodied not in the next successful office development or the next
industrial park, which are easily predicted and clearly envisioned. Rather, they are
wrestling with defining what will be relevant and needed in the county and the region
when the next generation of leadership is in control and making decisions about what is
best for its community. For many, it is necessary to understand what is emerging or only
anticipated at this time.
This analysis summarizes emerging economic trends, bringing industry clusters into
focus and evaluating their suitability forthe SeminoleWay corridor.
The "Vision" held by community stakeholders includes many specific goals and
objectives. Based on the results of this analysis to date, "Success" would be defined
as:
1. A vision or plan based on realistic economic opportunities forthe Corridor,
blending public resources, private business interests and education;
2. Attraction of businesses that add to the County's quality of life through stable
investment, high-wage employment, environmentally friendly development, and
support forthe existing economic base;
3. Expansion of the County's non-residential ad valorem tax base and other
revenue sources;
4. Provision of appropriate land use controls and comprehensive plan policies
throughout the Corridorto allow desirable "high value/high wage" (and maybe
"high tech") businesses to find a place in the county;
5. Land owners understanding the vision of SeminoleWay and "buying in;"
6. Certainty that infrastructure resources, policies, and incentives are aligned at
county and municipal levels to enhance the chances of achieving the economic
development vision.
I-1
Economic Futures Analysis
Seminole County already possesses a significant amount of strategic economic
development resources that can be readily applied to facilitate economic development
within the SeminoleWay Corridor. The foundation for land use policy incentives has
previously been laid with the existing HIP-TI targeted future industries land use category.
More challenging is finding and promoting existing property resources that have the
attributes required to attract and accommodate targeted industries within the county.
Building upon the existing economic and industrial conditions in Seminole County and
the greater Orlando MSA, the RERC team has identified four specific economic clusters
with the greatest potential of fulfilling the SeminoleWay Corridor vision and fostering
real long term economic growth in sustainable high wage, high impact industries. They
are:
1. Life sciences including biotech and medical instrumentation
2. Digital media including modeling and simulation, film and broadcasting, themed
entertainment and animation/game development
3. Financial services and information services
4. Technical and research services including civil and environmental engineering
and so-called "green" architectural and engineering services
These four clusters represent the most feasible and attractive future of the
SeminoleWay Corridor given the context and identified constraints. Policy decisions
concerning each cluster should be evaluated and tailored to exploit the resources
identified within this report.
Any limitations of or barriers to the successful cultivation of the SeminoleWay targeted
industry clusters are likely to be spatially specific in nature. From a global perspective,
the SeminoleWay Corridor is already well suited to attract and sustain each of the
identified clusters without significant hindrance from transportation infrastructure,
environmental constraints, suitable housing, educational resources, or land use and
comprehensive planning policies.
Accounting for environmental constraints and major accessibility issues, the State Road
417 Corridor between I-4 and the Orange County line contains about 3,300 acres of land
that was initially considered suitable for economic development efforts of the
SeminoleWay vision. Of these ripe lands, the majority of acreage can be classified as
underutilized rather than vacant. Approximately 500 acres within the two mile corridor
and nearly 900 acres located within the Sanford Orlando Airport and HIP areas are
functionally vacant. These constraints suggest that targeted industries and development
within the corridor will necessarily be focused toward smaller individual developments
and businesses that may not require a large tightly clustered campus and the associated
large tracts of raw undeveloped land. To serve the most obvious target industries and
businesses, large-scale land assemblage is probably not necessary.
I-2
The suitable land within SeminoleWay is, however, clustered around readily accessible
SR 417 interchanges. SR 417 itself provides ready and efficient access to both interstate
4, Sanford Orlando International Airport and Orlando International Airport. The future
land use policies of Seminole County and the SeminoleWay partner municipalities
currently governing the available lands around the SR 417 interchanges support the
SeminoleWay vision and may require only minor adjustment on a spatially specific basis
to fully accommodate the specific SeminoleWay targeted industries.
The following Phase 2 report further examines suitable property resources at each of the
eight SR 417 interchanges and presents specific parcels that appear ready and able to
accommodate targeted industry development.
State Road 417 -SeminoleWay Interchanges
I-3
• ~
Phase 2 Report -December 2008
PART A: Target Industry Facility and Infrastructure Requirements
Introduction
As part of the Phase 2 effort regarding the SeminoleWay corridor economic
development analysis, RERC has researched the character of locations and physical
facilities required to accommodate the specific target industries identified in the Phase 1
analysis. For the most part, these facility and site requirements are consistent with the
suburban office and light industrial character found within Seminole County and the
municipalities located along the State Road 417 corridor and proximate to its
interchanges. In the following pages, each target industry and its facility requirements
are briefly summarized.
1. Life Sciences
The Life Sciences industry can be subdivided into four categories: Discovery, Education,
Treatment and Commerce.
• The Discovery sub sector includes life science operations and facilities that are
dedicated toward life sciences research and design. This sub sector is typically
dominated by large institutional users such as Nemours, Scripps and Torrey
Pines. Many research facilities are directly associated with large universities,
medical and pharmacy schools. Research Institution facilities include academic
research labs, vivariums, healthcare labs, and health science teaching labs.
While the research laboratory facilities of larger facilities can exceed 200,000
square feet, the Discovery category also includes smaller companies that may
require significantly less (2,000 - 50,000 square feet) independent laboratory
space as well as start ups and emerging companies that benefit from the
presence of shared, potentially subsidized wet lab space.
• There is a significant amount of overlap between the Discovery and Education
life science sub sectors. Many research facilities and laboratories are
partnerships between private institutions and public university systems.
Education sector facilities include teaching labs at medical schools, nursing
schools and community colleges and vary in size and complexity based upon the
educational focus. For instance, the requirements of a nursing teaching
laboratory will differ dramatically from an academic pharmaceutical research
facility. Health science teaching labs may focus on a diverse range of educational
activity including:
o Anatomy
o Chemistry
o Engineering
A-1
o Nuclear medicine
o Magnetic resonance
o Nursing
o Dental
o Occupational therapy
• The Treatment life sciences category includes a wide breadth of medical activity
including hospitals, outpatient facilities, surgical centers, doctor's offices, testing
laboratories and diagnostic laboratories. Facilities requirements vary with
doctor's offices and smaller surgical centers conforming to typical medical office
configurations and testing laboratories and clinical diagnostic labs requiring
potentially sophisticated wet lab space.
• The Commerce category within the Life Sciences industry includes the
developers and manufactures of devices and technology supportive of research
and medicine. Companies may include medical device manufacturers, optics
manufacturers or simulation labs. Laboratory requirements may be less oriented
towards wet labs and biological research and focus more on clean design
laboratories. Optics companies in particular may require "clean room" research,
development and assembly space.
Laboratory Space
Each of the four identified Life Sciences categories potentially require some form of
associated laboratory space. Wet lab space is most highly required by the Discovery
sector's research laboratory facilities, either in the form of large institutional facilities or
smaller shared space. Wet lab space may also be required in the Education and
Treatment sectors for health science, diagnostic and testing laboratories.
• Common wet lab uses include academic research labs, vivariums, health care
labs, health sciences teaching labs and pharmacology labs.
"Wet labs" differentiate from other laboratory and research facilities in their ability
to handle chemical and biological materials. In practice, this signifies
o Special water and waste handling systems
o Special air treatment, purification, and circulation systems including
constant and reliable HVAC, dust control, gas/utility services and fume
hoods
o Special building security, control, and storage systems
0 24 hour access
0 14'to 18' floortofloor heights
0 20' to 30' column spacing
o Vibration minimizing floors capable of handling 125-150 Ibs per square
foot
o Fail safe uninterruptible electrical and power systems
o Individual companies will have additional "wet lab" needs that will be
differentiated by their specialty (e.g., a stem cell company's need to
handle cell cultures may be different than a pharmaceutical manufacturer
that specializes in organic chemicals).
A-2
• Wet labs are most often configured in open module arrangements. Atypical
module could be 12' wide by 24' long, allowing two joined modules to fit within a
24' by 31' column bay. Open module lab arrangements with back to back
benches allow single lab facilities to accommodate multiple users, departments,
or companies and allow greater flexibility for the reorganization of private or
semi-private lab space within multi-tenant facilities.
• Wet labs can be constructed build-to-suit or can be converted from class A office
or flex space provided certain space requirements are met.
• Typical wet-lab space costs $450-$500 build to suit. Space can be built more
economically if office or flex space can be reused. Most often, a top floor space
with 14' to 18' ceilings is desired to accommodate necessary HVAC, water
treatment and air treatment demands. 20 - 30 foot column spacing is desirable to
incorporate modular lab design.
Land Use and Environmental
• The facilities required for small to mid-sized pharmaceutical companies, research
laboratories, optics, simulation and robotics companies and life sciences
incubator installations can be readily accommodated within a variety of the
existing zoning and future land use categories within Seminole County and the
associated municipalities. Future land use categories including office,
commercial, HIP-TI, HIP-Air, Industrial and WIC are all potentially conducive to
targeted life sciences development.
• Life sciences companies of all sizes (although to a lesser extent for startups)
benefit from strong air transportation resources and specialized training and
professional services. Few industries are subjected to higher levels of federal
scrutiny; the FDA clinical trial regulatory system significantly multiplies the cost
and risk of bringing new life sciences products to market. Further, HIPAA and
manufacturing quality requirements also increase security and manufacturing
costs for this industry.
• Life sciences companies, particularly emerging entities, may prefer to physically
position their facilities proximate to existing research and university facilities such
as UCF.
1 Life sciences companies will benefit from strong broadband and wireless
connectivity and a range of standard business /office space leasing options (in terms
of cost and amenities).
• Life Sciences industry development will benefit from Seminole County's inventory
of attractive and high-value single- and multi- family housing.
• Cash incentives are potentially required to attract life sciences companies, given
the current market for their business, the ability to potentially locate anywhere
and the willingness of other domestic and international markets to provide capital
and cash incentives.
A-3
2. Digital Arts and Media
Within Central Florida, Digital Arts and Media can be subdivided into four major
categories: Modeling, simulation and training (MS&T), Film and television production,
Theme park/ride and show and Interactive and immersive entertainment. While the focus
of enterprise in each of these categories is unique, they share nearly identical
infrastructure and facility requirements.
Digital Media companies can readily locate into existing Class A or B office space or
appropriate flex space provided that the facility can be serviced by high bandwidth
broadband telecommunications infrastructure. From a land use perspective, office,
commercial, HIP-TI, and to a lesser extent HIP-AP and Industrial, future land use
zonings can accommodate any of the structures necessary for Digital Arts and Media
development.
• General facility and infrastructure needs are described by flexible /inexpensive
buildings and office space with very strong broadband internet connectivity.
Many freelancers operate out of home businesses, often with a network of
collaborators /subcontractors to deliver larger client projects.
• Some categories of digital media, particularly those focusing on communications,
will be attracted to and benefit from above-average bandwidth and internet
infrastructure access points as they reduce packet lag and delay. In practice,
this probably translates to 1000baseT ethernet connectivity within buildings and
an OC3 fiber or greater external (street-to-building) connectivity.
• The internal "components" of Digital Media companies, such as sound stages
and post production houses, can easily be incorporated into general office and
flex space facilities.
• The most unique requirement of this sector is one of environment and lifestyle.
Digital media companies will be attracted to "artist communities" and liberal,
avant-garde neighborhoods with trendy restaurants, retail and "raw food" stores
as might be found "in L.A." (or Austin, or New York, or San Francisco...}. The
downtown "Creative Village" concept, if properly fostered, might address this
environmental aspect; in the short term the Seminole Way region should not try
to duplicate or compete with the Creative Village to establish a centralized
"creative neighborhood" environment. However, an emerging digital arts and
media cluster could potentially benefit from close proximity to the University of
Central Florida and the National Centerfor Simulation.
• The digital arts and media cluster does not require significant infrastructure or
site improvements with the exception of strong broadband connectivity. Lifestyle
changes are less on-site and more local and many employees work virtually from
a home office.
A-4
3. Financial and Professional Services
4. Research and Technical Services
The financial services and the research and technical services cluster share the same
basic facility and infrastructure requirements.
• In practice, financial services and research and technical services share
infrastructure needs similar to any technology-intensive business, with the
addition of redundant power and communications and access to transportation
corridors:
o "A" and "B" office and business park space
o Strong broadband and wireless telecommunications and stable power
infrastructure. Possibly independent power backup systems for larger
operations.
o Access to skilled IT, professional services employment base
o Access to transportation -road corridors for employees, and air
transportation for business and client access
o Strong security considerations
• Financial services and research and technical services can be accommodated by
fairly generic future land use categories such as office and commercial and by
Seminole County's HIP-TI future land use designation. Additionally, financial,
research and technical support services that do not require "store front" or
roadway exposure can adequately locate within class A and B office space or
flex space interspersed among other forms of development.
,~.~~~~
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A-5
Seminole County Office Space Concentrations - 2007
Summary of Facility and Infrastructure Requirements, SeminoleWay
1. Life Sciences Discoverysub-sector: oriented toward research and
design; research labs; healthcare labs; vivariums;
pharmacology; wet labs; institutional companies. These
enterprises use laboratories, industrial/flex-space
buildings, and conventional office space.
Education sub-sector: oriented largely to teaching,
including medical schools, nursing schools, and teaching
laboratories. These institutions utilize laboratories,
classrooms, and office space.
Treatment sub-sector: oriented toward hospitals, clinics,
outpatient facilities, doctors' offices, surgical centers, and
diagnostic laboratories. These enterprises utilize medical
office space and laboratories.
Commerce sub-sector: includes developers and
manufacturers of devices and technology supporting life
sciences technology. These enterprises utilize various
kinds of laboratories and special-purpose industrial
space.
Life sciences companies may prefer to physically position
their facilities proximate to existing research and
university facilities.
Life sciences companies will benefit from strong
broadband and wireless connectivity and a range of
standard business 1 office space leasing options.
2. Digital Arts and Media Subdivided into four major categories: Modeling,
simulation and training; Film and television production;
Theme park/ride and show; Interactive and immersive
entertainment.
Facility and infrastructure needs are described by flexible
inexpensive buildings and office space with very strong
broadband Internet connectivity.
The most unique requirement of this sector is one of
environment and lifestyle.
3. Financial and Financial, research, and technical services share
Professional Services infrastructure needs similarto any technology-intensive
4. Research and Technical business, with the addition of redundant power and
Services communications and transportation access.
• "A"and "8"office and business park space
• Access fo skilled 1 T, professional services employment
base
• Strong broadband and wireless telecommunications
SOURCE: Real Estate Research
Consultants
A-6
Seminol~IVAY
Phase 2 Report -December 2008
PART B: SeminoleWay Interchange Properties
Introduction
In the SeminoleWay Phase 1 report, RERC and Glatting Jackson identified eight distinct
S.R. 417 interchange areas and provided summaries and generalized maps of the
vacant and underutilized parcels present at each. The following map illustrates the
vacant and underutilized parcels within SeminoleWay by interchange as identified in the
Phase 1 analysis.
For the purpose of determining the suitability of each interchange to accommodate
development associated with the four identified targeted industries, RERC obtained
complete lists of the vacant and underutilized parcels at the individual interchange areas.
As a preliminary measure, the parcel lists were scrubbed to remove any substantially un-
developable parcels such as rights of way, storm water retention areas, etc. Each parcel
was then scored by awarding one point for each of the following criteria:
• The size of the parcel is greater than 2.0 acres
• The parcel was vacant or substantially underutilized
• The parcel is easily accessible from the appropriate interchange
• The existing zoning permits the allowable building types necessary for
development with one of the four targeted industries
• The future land use designation of the parcel permits the allowable building types
necessary for development within one of the four targeted industries
• The parcel possesses the ability to be aggregated with an adjacent
vacant/underutilized parcel
After scoring, the reduced lists of parcels were mapped in order to further identify
possible constraints or comparative advantages for development. Utilizing the initially
scored parcel lists and maps, RERC completed extensive field work at each of the
interchange areas to reinforce and confirm the property analysis and to assess the
accessibility and visibility of high-scoring parcels. Factoring in information obtained
through the field analysis, RERC further refined the suitability scores for each
vacant/underutilized parcel at each interchange and categorized each parcel into one of
two tiers. Tier One parcels are typically vacant, largerthan two acres, directly accessible
from major roadways, visible from business arterials, and located in typical commercial
or business environments. Tier Two parcels possess many of the attributes of Tier One
parcels but might potentially lack some of the favorable qualities associated with Tier
One properties or may require assemblage and/or land use changes to accommodate
target industry facilities.
B-1
SeminoleWay Interchanges and Potential Development Parcels -Phase 1 Analysis
B-2
Final Property Inventory
The following summaries present the key parcels within each interchange and the
findings and recommendations regarding the suitability of each interchange for the
targeted industries. This analysis provides an initial level of "due diligence" regarding
potentially usable properties. Because of the ever-changing nature of real estate
markets, property transactions, and efforts by land owners to develop, market, or entitle
their properties, this initial survey cannot be guaranteed to be fully accurate or to remain
static for more than a year, or so. Continual monitoring and updates of key data for
suitable properties is recommended.
Because of the limited and dispersed number of suitable properties around the
developed SR 417 interchanges, RERC added the corridor along the Lake Mary
Boulevard extension south and east of the Orlando-Sanford International Airport to the
inventory of available properties; this substantially increases attractive land resources.
In total, this study has identified approximately 365 parcels and 2,320 acres of vacant or
substantially underutilized property generally located within one mile of a major
interchange on SR 417, having access and utilities, and properly planned for uses which
can accommodate the facilities required for the four major target industries identified in
the Phase 1 SeminoleWay report. However, it should be noted that about 60% of the
available and suitable property is located along the Lake Mary Boulevard extension near
Orlando Sanford International Airport. As much as 15 to 20 million square feet of new
office, light industrial, or commercial buildings, mixed-use, or higher intensity residential
projects could be accommodated on these properties within the SeminoleWay corridor.
Available Property Suitable for Development, SeminoleWAY Corridor,
December 2008
Interchange or Study Area Number of Available parcels Estimated Acreage
Interchange Areas (North to
South)
1. Rinehart Road/SR 46 52 275
2. Sanford HIP 48 358
3. CR 46A 3 17.5
4. US 17-92 10 65.5
5. SR 434 10 46.9
6. Red Bug Lake Road 13 68.3
7. SR 426/Aloma 10 35.3
Sub-total 146 866.5
Study Area:
8. Lake Ma Boulevard Ext. 219 1,453.8
Study Corridor Total 365 2,320.3
SOURCE: Seminole County Tax Roll; Real Estate Research Consultants; Glatting Jackson
B-3
1. State Road 46 -Rinehart Road
Summary Observations:
a) The study area centered around Rinehart Road and State Road 46, including
portions of the I-4 HIP-TI (Higher Intensity Planned Development-Target
Industry) area, is one of the most productive areas for future economic
development, potentially including all of the target industry groups -but most
notably financial and professional services, technical and research services,
and digital media enterprises.
b) Almost all of the identified properties are designated for higher intensity
office, commercial, or industrial land uses, according to the future land use
plans of Seminole County and the City of Sanford.
c) Within this district, RERC and Glatting Jackson have identified 52 suitable
properties totaling about 275 acres.
d) Because of the district's proximity to Heathrow, Colonial Town Park, and
Towne Center Mall, it is highly probable that many financial and professional
services businesses will expand here, in addition to conventional retail and
commercial activities.
e) While properties are numerous, many are relatively small. Only a handful of
available properties are larger than ten acres without assemblage.
f) This is an established and highly developed area. There will be strong and
diverse pressures for conventional developments. To encourage digital
media or life sciences to develop within this district, a sophisticated and
aggressive program of incentives or other intervention may be required.
Parcel Matrix and Map
The following matrix summarizes key characteristics of the available properties identified for
this analysis. The Map Key number and Parcel ID are matched to the following map
depicting specific parcels within the study area.
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State Road 46 - ',5°° 3,°°°
Feet
2. Sanford HIP Area
Summary Observations:
a) The study area located north of State Road 46 and east of Monroe Road,
including portions of the Sanford HIP-TI (Higher Intensity Planned
Development-Target Industry) area, is another one of the most productive
areas forfuture economic development, potentially including all of the target
industry groups -but most notably life sciences support services, technical
and research services, and digital media enterprises.
b) Almost all of the identified properties are designated for higher intensity
office, commercial, or industrial land uses, according to the future land use
plans of Seminole County and the City of Sanford. Within this district, RERC
and Glatting Jackson have identified 48 suitable properties totaling about 358
acres.
c) Because of the district's access to I-4, SR 417, rail service, and Towne
Center Mall and its predominantly industrial character, it is highly probable
that many technical and research services businesses could locate here, in
addition to conventional light industrial and commercial activities.
d) While properties are numerous and relatively small, there are some larger
parcels and the average parcel size is significant, allowing larger scale
development. Many parcels are contiguous, which may allow for assemblage
if desirable.
e) This is an established and highly developed area. There will be strong and
diverse pressures for conventional developments. To encourage digital
media or life sciences to develop within this district, a sophisticated and
aggressive program of incentives or other intervention may be required.
f) This is the only district studied which will accommodate a regional commuter
rail station, which will provide unique access to downtown Orlando and other
key employment centers and neighborhoods throughout the metropolitan
area.
Parcel Matrix and Map
The following matrix summarizes key characteristics of the available properties identified for
this analysis. The Map Key number and Parcel ID are matched to the following map
depicting specific parcels within the study area.
B-5
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3. County Road 46-A - 25t" Street
Summary Observations:
a) The study area centered on 25t" Street/H.E. Thomas Jr. Parkway (aka
County Road 46-A) includes portions of Sanford, Lake Mary, and
unincorporated Seminole County. This is probably the least productive area
for future economic development, primarily because the land resources are
largely built out at this time.
b) Within this district, RERC and Glatting Jackson have identified only three
suitable properties totaling about 17.5 acres.
c) The identified properties are designated for higher density residential,
commercial, or low density residential land uses, according to the future land
use plans of Seminole County and the City of Sanford.
d) Despite the district's access to SR 417, its predominantly residential
character makes it highly unlikely that anything but limited professional
services or technical and research services businesses could locate here.
e) While properties are limited in number, the average parcel size is significant,
allowing larger scale development. Two parcels are contiguous, which may
allow for assemblage if desirable.
f) This is an established and highly developed area. There will be strong and
diverse pressures for conventional developments. To encourage digital
media or life sciences to develop within this district, a sophisticated and
aggressive program of incentives or other intervention may be required.
Parcel Matrix and Map
The following matrix summarizes key characteristics of the available properties identified for
this analysis. The Map Key number and Parcel ID are matched to the following map
depicting specific parcels within the study area.
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4. US Highway 17-92
Summary Observations:
a) The study area centered around the intersection of SR 417, SR 472, Lake
Mary Boulevard, and US Highway 17-92 includes portions of the City of
Sanford and unincorporated Seminole County. Like the CR 46-A area, this is
another one of the least productive areas forfuture economic development
due primarily to a shortage of available vacant properties. A good portion of
the immediate interchange area is within Seminole County's Community
Redevelopment Area (CRA), which is designated for significant
redevelopment overthe next 10 to 20 years. This linear redevelopment area
could potentially include most of the target industry groups -but most notably
business and professional support services, technical and research services,
and digital media enterprises.
b) Almost all of the identified properties are designated for office, commercial, or
industrial land uses, according to the future land use plans of Seminole
County and the City of Sanford.
c) Within this district, RERC and Glatting Jackson have identified 10 suitable
properties totaling about 65 acres. With substantial redevelopment, acres of
additional land might be made available, but at a substantial cost.
d) Identified properties are limited in number and geographically dispersed. In
most cases, access to the US 17-92 interchange is not direct.
e) This is an established and highly developed area. There will be strong and
diverse pressures for conventional developments. To encourage digital
media or life sciences to develop within this district, a sophisticated and
aggressive program of incentives or other intervention may be required. For
a significant scale of professional or other business services to occur,
redevelopment will be required.
Parcel Matrix and Map
The following matrix summarizes key characteristics of the available properties identified for
this analysis. The Map Key number and Parcel ID are matched to the following map
depicting specific parcels within the study area.
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5. State Road 434 -Winter Springs Boulevard
Summary Observations:
a) This study area located along SR 434 (aka Winter Springs Boulevard),
including properties within the municipal limits of Winter Springs and Oviedo,
is another one of the more productive areas for future high-tech economic
development, potentially including all of the target industry groups -but most
notably life sciences support services, technical and research services, and
digital media enterprises.
b) Most of the identified properties are designated for higher intensity office,
commercial, orinterchange-related land uses, according to the future land
use plans of the City of Winter Springs and the City of Oviedo.
c) Within this district, RERC and Glatting Jackson have identified 10 potentially
suitable properties totaling about 47 acres. Assuming some rezoning or land
use changes, there might be significant attractive tracts that could also be
considered over the longer term.
d) Because of the district's access to SR 417, proximity to UCF, and its
predominantly commercial character, it is highly probable that many technical
and research services businesses and life sciences activities could locate
here, in addition to conventional office and commercial activities. One high-
tech incubator is already in operation in this district.
e) While properties are limited in number, there are some larger parcels and the
average parcel size is significant, allowing larger scale development. Some
parcels are contiguous, which may allow for assemblage if desirable.
f) This is an established and highly desirable area, and some relevant
development has already begun. There will be strong and diverse pressures
for conventional developments. To encourage digital media or life sciences
to develop within this district, a sophisticated and aggressive program of
incentives or other intervention may be required. Conventional business
services and technical research activities might already find the area
attractive.
Parcel Matrix and Map
The following matrix summarizes key characteristics of the available properties identified for
this analysis. The Map Key number and Parcel ID are matched to the following map
depicting specific parcels within the study area.
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6. Red Bug Lake Road
Summary Observations:
a) This study area located along Red Bug Lake Road and SR 426, including
properties within the municipal limits of Oviedo, is one of the more productive
and intriguing areas forfuture high-tech economic development, potentially
including all of the target industry groups -but most notably life sciences
support services, technical and research services, and digital media
enterprises.
b) Most of the identified properties are designated for professional office and
commercial land uses, according to the future land use plans of the City of
Oviedo. Oviedo has designated this as a "Gateway District" for economic
development purposes.
c) Within this district, RERC and Glatting Jackson have identified 13 potentially
suitable properties totaling about 68 acres. Assuming some rezoning or land
use changes, there might be significant attractive tracts that could also be
considered over the longerterm for higher intensity development. As well,
there are under-utilized parcels and buildings associated with Oviedo
Marketplace Mall that could offer long-term adaptive re-use potential. There
are some larger parcels and the average parcel size is significant, allowing
larger scale development. Some parcels are contiguous, which may allow for
assemblage if desirable.
d) Because of the district's access to SR 417, proximity to UCF, and its
predominantly commercial character, it is highly probable that many technical
and research services businesses and life sciences activities could locate
here, in addition to conventional office and commercial activities.
e) This is an established and highly desirable area and there will be strong and
diverse pressures for conventional developments. To encourage digital
media or life sciences to develop within this district, a sophisticated and
aggressive program of incentives or other intervention may be required.
Conventional business services and technical research activities might
already find the area attractive.
Parcel Matrix and Map
The following matrix summarizes key characteristics of the available properties identified for
this analysis. The Map Key number and Parcel ID are matched to the following map
depicting specific parcels within the study area.
B-9
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Feed
7. State Road 426 -Aloma Boulevard
Summary Observations:
a) The study area centered on State Road 426 (aka Aloma Boulevard) is a
moderately productive area for future economic development, potentially
including all of the target industry groups -but most notably life sciences
support services, technical and research services, and business services.
b) Almost all of the identified properties are designated for higher intensity
office, commercial, or residential land uses, according to the future land use
plans of Seminole County.
c) Within this district, RERC and Glatting Jackson have identified 10 suitable
properties totaling about 35 acres.
d) Because of the properties' convenient access to SR 417 and UCF, it is highly
probable that many technical and research services businesses could locate
here, in addition to conventional office and limited commercial activities.
e) While properties are limited in number and relatively small, there are some
larger parcels allowing larger scale development. Some parcels are
contiguous, which may allow for assemblage if desirable.
f) This is an established and highly developed area. There will be strong and
diverse pressures for conventional developments. To encourage digital
media or life sciences to develop within this district, a sophisticated and
aggressive program of incentives or other intervention may be required.
Parcel Matrix and Map
The following matrix summarizes key characteristics of the available properties identified for
this analysis. The Map Key number and Parcel ID are matched to the following map
depicting specific parcels within the study area.
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8. Lake Mary Boulevard Extension
Summary Observations:
a) The study area located along the Lake Mary Boulevard extension from SR
427 northeast to the St. John's River, including portions of the City of Sanford
and unincorporated Seminole County, was added to the SeminoleWay
corridor because it is the largest and most productive of the areas for future
economic development, potentially including the target industry groups of life
sciences support services, technical and research services, and digital media
enterprises.
b) The identified properties are designated for a variety of higher intensity office,
commercial, or industrial land uses, according to the future land use plans of
Seminole County and the City of Sanford. Much of the acreage is designated
as "airport support activities."
c) Within this district, RERC and Glatting Jackson have identified 219 potentially
suitable properties totaling about 1,450 acres, most of which is effectively
vacant.
d) Because of the district's access to SR 417, SR 46, and rail service, and its
predominantly undeveloped industrial character, it is highly probable that
many technical and research services businesses and life sciences support
enterprises could locate here, in addition to conventional light industrial and
commercial activities.
e) While properties are numerous and relatively small, there are some larger
parcels, allowing larger scale development. Many parcels are contiguous,
which may allow for assemblage into large development tracts, if desirable.
f) This is a new and largely undeveloped area. There will be emerging and
diverse pressures for conventional developments. To encourage digital
media or life sciences to develop within this district, a sophisticated and
aggressive program of incentives or other intervention may be required.
Land availability at lower costs may be the most effective marketing asset in
the near term.
Parcel Matrix and Map
The following matrix summarizes key characteristics of the available properties identified for
this analysis. The Map Key number and Parcel ID are matched to the following map
depicting specific parcels within the study area.
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Lake Mary Blvd Extension - 200° '°F°e~
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Phase 2 Report -December 2008
PART C: Marketing and Incentives -Findings and Recommendations
Introduction
In this document and the preceding Phase 1 report, RERC has: 1} presented a "Vision"
for SeminoleWay; 2) identified through cluster analysis specific "target industry" sectors
that hold promise forthe corridor; 3) described facility and infrastructure requirements for
those industries; 4} reviewed land use regulations and economic development policies
within the county and partnering municipalities; and 5} performed initial "due diligence"
on available land resources around SR 417 interchanges. From this point, it should be
possible to structure an economic development strategy for advancing the SeminoleWay
plan with policy-makers, land owners, developers, target industry representatives, and
other stakeholders. While a solid and practical foundation of useful information has
been compiled, there remains much to be done to complete and monitor a definitive plan
of action for achieving the goals set forth at the beginning of this analysis:
• A plan based on realistic economic opportunities for the Corridor, blending public
resources, private business interests and education;
• Attraction of businesses that add to the County's quality of life through stable
investment, high-wage employment, environmentally friendly development, and
support forthe existing economic base;
• Expansion of the County's non-residential ad valorem tax base and other
revenue sources;
• Provision of appropriate land use controls and comprehensive plan policies
throughout the Corridor to allow desirable "high value/high wage" businesses to
find a place in the county;
• Land owners understanding the vision of SeminoleWay and "buying in;"
• Certainty that infrastructure resources, policies, and incentives are aligned at
county and municipal levels to enhance the chances of achieving the economic
development vision.
A plan without an "agenda for action" will remain simply interesting reading material and
forever unrealized. In order to become manifest, a plan must supplement knowledge
with directed actions that bring about "implementation." The SeminoleWay initiative is
intended to be a long term effort to capitalize on apparent opportunities with forethought
and strategic actions.
In the following pages, RERC outlines a general "road map" of critical steps for moving
forward and describes the "tool kit" of incentives which might be employed to attract and
retain the target industries already identified as crucial to the county's economic future.
C-1
SeminoleWay "Critical Path" to Implementation
Moving forward from the completion of this Phase 2 analysis includes the most
immediate next steps of achieving "buy-in" from political leadership and other
stakeholders within the county and the partner municipalities; preparing and promoting
information packages that demonstrate the dynamic elements and opportunities within
the SeminoleWay corridor; and initiating conversations with potential businesses and
developers about specific projects within the corridor. The outlook for successful
implementation of the ideas already generated by this study as well as county staff and
other stakeholders is certainly long term, but RERC suggests the following activities over
the next 12 to 24 months to keep momentum in the planning concepts moving forward:
C-2
1. Review the findings and recommendations of Phase 1 and Phase 2 of the
analysis with the chamber's overview committee and the county's Board of
Commissioners.
2. Review the findings and recommendations of the study with leadership of the
three partner municipalities to insure open lines of communication and sharing of
ideas.
3. Present the findings and recommendations with primary stakeholders within the
SeminoleWay corridor, including at least potentially affected landowners and
major businesses.
4. Make the findings and recommendations of the study available to the interested
public by placing key findings or links on the county's web site.
5. Identify "target" industries and businesses within Seminole County (and
elsewhere) that might have an interest in the findings of the studies and solicit
their interest and feedback.
6. Share information regarding the availability and suitability of properties with
targeted businesses and appropriate real estate developers who can provide the
necessary facilities for targeted businesses.
7. Prepare concise marketing packages for use in soliciting or following up on
investor interest within the SeminoleWay corridor.
8. Prepare proposals for significant land owners in the corridor that outline potential
development concepts as well as county/city commitments (e.g., planning,
financial, marketing) to further the vision and objectives of the SeminoleWay
plan.
9. Set up a property monitoring system within the interchange focus areas to keep
track of existing or new properties that are available and suitable for target
industry development.
10. Follow up on specific economic development project opportunities identified in
this study or through stakeholder reviews (e.g., commuter rail station areas,
adaptive reuse of under-utilized properties and/or buildings, development in the
airport influence zones, incubator projects, etc.).
It is important to reiterate that most next steps associated with implementing the
SeminoleWay Plan revolve around communication. More specifically, the challenge is
to communicate the opportunities associated with the SeminoleWay corridor to all
stakeholders. An inherent strength of the SeminoleWay Plan is that no concerted
capital investment plan is needed to realize the vision, however, the ability to efficiently
communicate and stickto the vision over the long term will be essential.
C-3
Economic Development "Tool Kit"
In the SeminoleWay Phase 1 report there is a brief summary of economic development
resources supporting development within the SR 417 corridor, including public
infrastructure, education, financial, and regulatory resources. Generally speaking, the
infrastructure, education, and regulatory resources are major positive forces that are
consistent with the findings of the target industry analysis and related facility
requirements. In the following pages, RERC has briefly summarized and expanded list
of state and local financial incentives, along with employee training programs and
expedited permitting and project review procedures that are important to potential
businesses and developers of high value, high wage industries in Seminole County.
Qualified Target Industry Tax Refund
The Qualified Target Industry (QTI) Tax Refund is a tool available to Florida
communities to encourage quality job growth in targeted high value-added
businesses. Pre-approved applicants who create jobs paying an average
annual salary 115% of the county's average wage* may receive tax refunds of
$3,000 per new job created. (Companies paying an average annual wage
exceeding the area's average by 150 percent are eligible for $4,000 per job
and if the average annual wage is in excess of 200 percent, $5,000 per new
job created.) New or expanding businesses in selected targeted industries
creating a minimum of 10 new jobs are eligible. The incentive must be proven
a necessity for the company to locate or expand in Florida and there must be
local support.
Quick Response Training
The Quick Response Training Program (QRT) provides grant funding for
customized training to new or expanding businesses. Criteria to qualify is the
same as QTI. Training can be provided by quality institutions such as
universities, community colleges and technical centers or the company's own
staff. Grants normally range from $600-$1,000 per new employee trained.
Incumbent Worker Training
The Incumbent Worker Training Program (IWT) provides grant funding for
training. Florida businesses (excludes non-profits) needing to upgrade the skills
of their existing full-time employees are eligible. Grants typically average $100-
$400 per employee trained.
Economic Development Transportation Fund (EDTF or Road Fund)
The "road fund" is administered by the state in cooperation with an appropriate
local government jurisdiction. Depending on the number of jobs being
created, the grant program provides up to $2,000,000 for the construction or
improvement of transportation infrastructure including roads, runways and
traffic signals.
Industrial Revenue Bonds/Industrial Development Bonds
Industrial revenue bonds (IRBs) can be issued for the purpose of financing the
costs of projects, which may include purchase of an existing industrial or
manufacturing plant, construction of a new facility and/or purchases of new
equipment. The minimum recommended amount for an IRB is $1.25 million and
C-4
cannot exceed $10 million in most cases. The bonds can be issued for longer
terms and at lower interest rates, usually 1% below prime, and are tax exempt.
Enterprise Bonds
This tax exempt financing program is managed by an independent corporation
that provides tax-exempt funds to small manufacturers for the purchase of
land, buildings and capital equipment. Loans between $500,000 and $2.0
million are available. Borrowers are placed in a larger pooled bond issue that
is then sold by the corporation. The pooling of loans helps defray the cost of
issuance which might otherwise make it the process uneconomical.
Sales Tax Exemptions:
Electricity & Steam -Exemptions from sales tax may include charges for
electricity or steam used directly and exclusively at a fixed location to
operate machinery and equipment used to manufacture (process,
compound, or produce) items of tangible personal property for sale.
Manufacturing & Processing Equipment - Qualifying
machinerylequipment used to produce a product for sale is now exempt
from sales tax.
Seminole County Jobs Growth Incentive
The Board of County Commissioners has established a Jobs Growth Incentive
Trust Fund for both new and existing companies within targeted industry
sectors. Seminole County will consider providing upfront cash incentive dollars
for items such as training, permit fees, relocation costs, equipment purchases,
building construction, and any other legitimate business expenses.
Companies must satisfy selected job creation and wage criteria. Preference is
given to new construction and to companies locating in targeted areas within
the County. This program is typically used in lieu of QTI, for QTI-ineligible
companies. Awards provide up to $2,000 per new job created.
Impact Fee Deferral Program
Allows a company to defer payment of impact fees (except school impact
fees) from the date of issuance of building permit to issuance of a
certificate of occupancy or time of power, whichever comes first.
Fast Track Permitting
Expedites the local permitting process for targeted industries.
City Programs:
City of Altamonte Springs -The City offers development incentives that
reduce building and impact fees for qualified new construction projects
within the Central Business District. To qualify, commercial and office
projects must be at least 100,000 square feet and mixed-use projects
must be at least 150,000 square feet.
Cities of Casselberry, Lake Mary, Longwood, Oviedo, Sanford,
Winter Springs -These cities are willing to partner with Seminole
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County to create an incentive package for projects on a case-by-case
basis.
For additional information regarding business assistance in Seminole County, visit:
www.businessinseminole.com or
www.OrlandoEDC.com
University of Central Florida Incubation System
Business incubation systems are programs, services and facilities designed to support
entrepreneurial start-ups and emerging businesses within specific business sectors.
Incubation systems offer subsidized facilities space, management, contacts, business
development services and other support services intended to assist local economic
development efforts and foster the commercialization of academic and creative
research.
Beginning in 1999, the University of Central Florida has partnered with local
communities, the Florida High Tech Corridor Council and the United States Department
of Commerce's Economic Development Administration to create the UCF business and
technology incubation system. The UCF incubation system directly administers five
incubators over six facilities throughout Central Florida. In addition, The Seminole
Business Technology Incubation Center in Sanford possesses UCF affiliation.
The mission of the UCF incubation system is to "provide early stage companies with the
enabling tools, training and infrastructure to create financially stable high growth
enterprises." As of late 2007, the UCF incubation system has serviced and housed
approximately 90 emerging companies, including approximately 50 current clients. To
date, nearly 30 companies have successfully graduated the incubation program.
According the National Business Incubation Association (NBIA), companies that
participate in a university sponsored incubation program enjoy a graduation rate of
approximately 70 to 80 percent, and 87 percent of all businesses that successfully
complete the incubation program are still in business five years after graduation. UCF
reports that its incubators graduates have created over 900 new jobs boasting more than
200 million in annual revenues.
NBIA research has shown that for every two jobs directly created in an incubator an
additional job is indirectly created within the community. Furthermore, approximately 85
percent of the successful incubator graduates choose to locate their company within the
local community after graduation. Fiscally, incubators also represent sound community
investment. The NBIA estimates that for every $1 of public operating subsidy provided
by local communities, clients and graduates of incubator programs contribute
approximately $30 in total local tax revenue.
The UCF incubation system's facilities total more than 80,000 square feet of space
throughout Central Florida. The following map illustrates their location.
University of Central Florida Technology Incubator (UCFTI)
The UCFTI was the original UCF incubation facility established in 1999. UCFTI consists
of two facilities located within the UCF research park, an approximately 7,000 square
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foot facility on Research Parkway and a 40,000 square foot facility on Progress Drive. As
of 2007, 23 companies have graduated from the UCFTI program and created more than
800 jobs. The UCFTI typically accommodates high technology oriented business
requiring 1,000 to 7,000 square feet for 10-20 person operations. The UCFTI is a
partnership between UCF, Orange County, the Florida High Tech Corridor Council and
Metro Orlando Economic Development Commission.
Photonics Incubator
The UCF Photonics incubator is located on the UCF campus at the Center for Research
and Education in Optics and Lasers (CREOL) facility. The incubator facility, which
opened in 2005, possesses approximately 21,000 square feet of space. The partially
occupied space currently hosts four client companies, with one company slated for
graduation. The mission of the photonics incubator is to foster commercialization of the
research and development underway at CREOL. The photonics incubator is a
partnership between UCF, the City of Orlando, the Florida High Tech Corridor Council
and the U.S. Department of Commerce Economic Development Administration.
Orlando Business Development Center/District 2 Incubator
Located near the Orlando Executive Airport on Colonial Drive, the Orlando Business
Development Center is a partnership between the UCF, the City of Orlando and the
Florida High Tech Corridor Council. The Business Development Center is focused
primarily on servicing non high tech start ups. Phase one of the program includes 2,000
feet of office space which is currently fully leased to three incubator clients. Phase two,
scheduled to open in late 2008, will possess an additional 4,000 feet of office space. The
OBDC offers an entrepreneurship development program, business enhancement
classes and onsite coaches and mentors.
UCF Incubator-Seminole CountylWinterSprings
Opened in the summer of 2008, the Seminole County/UVinter Springs incubator
possesses approximately 10,000 square feet of space within the Vistawilla Office Center
building on State Road 434 near the intersection of State Road 417. The incubation
facility is predominantly leased to incubation clients and includes flex office space,
conference rooms and shared reception rooms and office equipment. The incubator is a
partnership between UCF, Seminole County, the City of Winter Springs and the Florida
High Tech Corridor Council.
Downtown Orlando Incubator
The Downtown Orlando incubation facility is located on North Orange Avenue and offers
approximately 4,000 square feet of office/incubation space to technology and high
growth companies that can benefit from a downtown location.
Seminole Business Technology Incubation Center (SBTIC)
The SBTIC is a partnership between Seminole County, Seminole Community College
and UCF. Though not directly administered by the UCF incubation program, SBTIC
clients have available all business development services offered by UFCIP. The facility,
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which opened in Sanford in late 2000, possesses 10,500 square feet of incubator space
currently serving 11 general technology incubator clients.
The following map illustrates the locations of the UCF incubators in metropolitan Orlando
in December 2007.
Location of Metro Orlando Technology Incubators, December 2008
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