Orlando Transforms Itself Into an Entrepreneurial Hub, Says Mayor

The mayors of Orlando and surrounding Orange County, Fla. pointed out that Orlando's economy now depends on more than just Disneyland and Universal Studios.
By Bret Kenwell ,

NEW YORK (TheStreet) -- When you think about Orlando, the first thing that likely comes to mind is the Disney (DIS) - Get Report and Universal Studio theme parks. 

But as Orlando mayor Buddy Dyer and Orange County, Fla. mayor Teresa Jacobs will tell you, there's much more to Orlando than its highest profile businesses. 

The city, which is the Orange County seat, is transforming itself into a high tech, innovative and entrepreneurial landscape. In 2014, the city ranked number one among U.S. cities when it came to job growth.

In particular, life sciences is an area many outsiders typically don't associate with Orlando, Jacobs said. The city has more than 4,700 life sciences companies.

It also has a large labor market for modeling, simulating and training, with companies like EA Games (EA) - Get Report, Siemens, Sand Lockheed Martin (LMT) - Get Report operating in the city. 

Also opening soon will be the medical simulation training center for the Veterans Administration, she said. 


Orlando, FL Labor Force data by YCharts

So what makes it so attractive for the companies to be in Orlando? For one thing, there's a "robust" talent pool to chose from, said Dyer.

There are 500,000 college and university students within a 100-mile radius of the city. In fact, Central Florida University, which is located in Orlando, is one of the largest pubic universities in the country based on enrollment.

The city's average age is just 36 years old. 

Dyer added that the city is spending a lot on infrastructure, particularly on public transportation.  

Orlando is expanding its airport, as well as building a high-speed rail from the airport to Miami. The rail line will include several stops in between, as well, Jacobs said.

-- Written by Bret Kenwell

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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