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Innovation Way: A Commitment to Compete
Presented to: Orange
CountyBoard of County
Commissioners
March 29, 2011
1. Educated people generate community wealth.
“Smart, entrepreneurial people are the ultimate source of a city’s economic power.” - Dr. Edward Glaeser, Director of the Taubman Center for State and Local Government, Harvard University, and author of The Triumph of the City (2011)
“Smart people of the highly educated sort that economists refer to as ‘human capital’ are key engines of economic growth and development.” - Dr. Richard Florida, Director of the Martin Prosperity Institute, University of Toronto, and author of The Great Reset, 12/22/10
- Source: American Community Survey, Census Bureau, ESRI (2010).
Education levels determine any community’s wealth.
Orlando (70th)
- Source: American Community Survey, Census Bureau, ESRI (2010).
Education levels determine any community’s wealth.
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
High SchoolDropout
High SchoolGraduate
SomeCollege
BachelorsDegree
MastersDegree
ProfessionalDegree
DoctoralDegree
Source: Bureau of Labor Statistics, May 2010
Median Annual Earnings – 2009
Educational attainment determines personal income level.
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
HighSchool
Dropout
HighSchool
Graduate
SomeCollege
Bachelorsor Higher
Source: Bureau of Labor Statistics, March 2011
Unemployment Rates – February 2011
Blended rate of 8.9%
Educational attainment determines employment status.
2. Educated people are leaving Orlando.
Net gain of 36,411 in working age population in Orlando MSA masks loss of 11,241 workers with degrees
- Source: American Community Survey, Census Bureau (2009).
Net gain of 100,838 in working age population in Austin MSA contains gain of 45,968 workers with degrees.
- Source: American Community Survey, Census Bureau (2009).
Educated people are arriving in Austin.
- Source: American Community Survey, Census Bureau (2009).
Orlando is one of only 34 cities with over 30,000 new workers from
2007-09.
- Source: American Community Survey, Census Bureau (2009).
Orlando is the only one of those cities that lost people with
college degrees.
- Source: American Community Survey, Census Bureau (2009).
30 cities attracted a workforce consisting of at least 30% with
college degrees.
- Source: American Community Survey, Census Bureau (2009).
From 2000-09, Orlando ranked next to last in the % of new workforce
with degrees.
- Source: American Community Survey, Census Bureau (2009).
Subtracting 2007-09, Orlando still ranked below average.
Observations1.Educated people generate community wealth.
2.Educated people are leaving Orlando.
3.Therefore, Orlando is losing community wealth.
- Source: American Community Survey, Census Bureau, ESRI (2010).
Due to its loss of educated people, Orlando now has less community
wealth.
- Source: American Community Survey, Census Bureau, ESRI (2010).
Losing educated population means losing more community wealth.
- Source: American Community Survey, Census Bureau, ESRI (2010).
Orlando’s competitors for life science
companies are all gaining educated people.
The only way to compete with those cities is to attract educated
people.
- Source: American Community Survey, Census Bureau, ESRI (2010).
Attracting educated people will increase community wealth.
- Source: American Community Survey, Census Bureau, ESRI (2010).
Attracting educated people will increase community wealth.
- Source: American Community Survey, Census Bureau, ESRI (2010).
Increased community wealth creates options for investment – in people and places.
Observations1.Educated people generate community wealth.
2.Educated people are leaving Orlando.
3.Orlando is losing community wealth.
4.The Innovation Zone attracts educated people.
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The Innovation Zone occupies portions of eastern Orange and Seminole counties.
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The Innovation Zone contains an impressive
collection of innovation economy assets.
Concentration of graduate degrees in central Florida
Concentration of bachelors degrees in central Florida
The Innovation Zone houses the most educated people
in central Florida.
Concentration of graduate degrees in central Florida
The Innovation Zone houses the most educated people
in central Florida.
Concentration of graduate degrees in central Florida
Concentration of technology workers in central Florida
The Innovation Zone houses the most innovative people
in central Florida.
Concentration of computer workers in central Florida
The Innovation Zone houses the most innovative people
in central Florida.
Concentration of life and social science workers in central Florida
The Innovation Zone houses the most innovative people
in central Florida.
Concentration of education workers in central Florida
The Innovation Zone houses the most innovative people
in central Florida.
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Modeling & Simulation: 16,000 jobs
Digital Media: 30,000 jobs
Life Sciences:
16,200 jobs
Optics & Photonics: 15,000
jobs
Space?Cleantech
?
417
The Innovation Zone links assets, people and jobs together in innovative
industries.
LocationTTM Patents
as of 11/16/10
TTM Patents as
% of All
Siemens Energy Innovation Zone
73 13.3%
University of Central Florida
Innovation Zone
63 11.5%
Harris Melbourne 55 10.0%
Lockheed Martin Innovation Zone
23 4.2%
MeshNetworks Maitland 18 3.3%
ParkerVision Lake Mary 15 2.7%
Intersil Palm Bay 14 2.6%
General Electric Melbourne 13 2.4%
ALL 549 100.0%Source: Orlando Sentinel / Remora Partners
Those innovative industries create innovative ideas.
Innovation Zone
Balance of Orlando
MSA
Total Orlando
MSA
Population 451,814 1,679,012 2,130,826
Median Age 33.8 37.8 37.1
Diversity Index 68.7 67.9 68.1
White Collar Jobs 65.7% 60.9% 61.7%
Median Household Income
$61,111 $51,803 $54,034
Associate Degree or Higher
44.8% 36.2% 37.8%
Bachelor Degree or Higher
33.7% 26.6% 27.8%
Graduate Degree or Higher
10.6% 8.5% 8.9%Source: ESRI (2010).
The Innovation Zone contains more than 450,000 educated,
young, innovative people.
Innovation Zone Austin TX
Population 451,814 1,908,617
Median Age 33.8 33.2
Diversity Index 68.7 71.4
White Collar Jobs 65.7% 66.3%
Median Household Income
$61,111 $62,732
Associate Degree or Higher
44.8% 43.9%
Bachelor Degree or Higher
33.7% 37.3%
Graduate Degree or Higher
10.6% 12.9%Source: ESRI (2010).
The Innovation Zone competes
with Austin - not with
the rest of Orlando.
Source: ESRI (2010).
The Innovation Zone competes
with Austin - not with
the rest of Orlando.
Innovation Zone Austin TX
Population 451,814 1,908,617
Median Age 33.8 33.2
Diversity Index 68.7 71.4
White Collar Jobs 65.7% 66.3%
Median Household Income $61,111 $62,732
Associate Degree or Higher 44.8% 43.9%
Bachelor Degree or Higher 33.7% 37.3%
Graduate Degree or Higher 10.6% 12.9%
Source: ESRI (2010).
The Innovation Zone competes
with Austin - not with
the rest of Orlando.
Innovation Zone Austin TX
Population 451,814 1,908,617
Median Age 33.8 33.2
Diversity Index 68.7 71.4
White Collar Jobs 65.7% 66.3%
Median Household Income $61,111 $62,732
Associate Degree or Higher 44.8% 43.9%
Bachelor Degree or Higher 33.7% 37.3%
Graduate Degree or Higher 10.6% 12.9%
Competing with Austin means increasing the
population in the Innovation Zone.
Observations1.Educated people generate community wealth.
2.Educated people are leaving Orlando.
3.Orlando is losing community wealth.
4.The Innovation Zone attracts educated people.
5.Innovation Way sits in the middle of the Innovation Zone.
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Innovation Way sits in the middle of the Innovation Zone.
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INNOVATIOINNOVATION WAYN WAY
Innovation Way sits in the middle of the Innovation Zone.
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INNOVATIOINNOVATION WAYN WAY
Innovation Way sits in the middle of the Innovation Zone.
Concentration of graduate degrees in central Florida
Concentration of bachelors degrees in central Florida
Innovation Way is the most logical place to house
educated people.
Concentration of graduate degrees in central Florida
Innovation Way is the most logical place to house
educated people.
Concentration of life and social science workers in central Florida
Innovation Way is the most logical place to house
educated people.
Concentration of education workers in central Florida
Innovation Way is the most logical place to house
educated people.
Closing Thoughts•Educated people are critical to economic success – and Orange County is losing the competition for them.
Closing Thoughts•Educated people are critical to economic success – and Orange County is losing the competition for them.
•The Innovation Zone must play a leading role in a strategy to attract educated people.
Closing Thoughts•Educated people are critical to economic success – and Orange County is losing the competition for them.
•The Innovation Zone must play a leading role in a strategy to attract educated people. •Innovation Way is the centerpiece of a commitment to compete in the innovation economy.