February 2010 Economic Update

February 8, 2010

It is encouraging to begin 2010 with a reason to celebrate and a glimmer of hope for our ongoing economic recovery efforts

January brought good tidings with Ocala's first designated Enterprise Zone, the dedication of the highly anticipated IHMC facility, and a new glass manufacturer offering 35 new jobs for our citizens.

January 29 was a day of historical significance for our community. It was an honor to attend the Dedication Ceremony for Florida's Institute for Human and Machine Cognition (IHMC). The faith and conviction Dr. Ken Ford and his team have shown in Ocala/Marion County is remarkable as they grow the vision of this outstanding research facility. Not to be overly dramatic, but the future success of IHMC in a small community like Ocala could have enormous implications for technology based economic development. It really punches a lot of holes in the misperception that cutting edge, world class R&D can only occur in the big cities. Dr. Ford often comments, "Great things happen in old buildings." While the renovation of the former library is exquisite, we are keenly aware it is the collaboration of brilliant minds housed in the building that is making great things happen. We support Dr. Ford as he continues his quest to "dynamite" the best and brightest talent from major metro areas to come to Ocala/Marion County!

Prior to the IHMC Dedication, members of the Ocala/Marion County Economic Action team were able to participate in a roundtable discussion with Assistant Secretary of Commerce John R. Fernandez. The  Economic Development Administration (EDA) was instrumental in providing grants for IHMC's expansion to Ocala.

The City and County approved a joint investment program with the State of Florida to bring Santelli  Tempered Glass to our community. This manufacturer will create 35 jobs earning above the annual average earnings per worker. Signature Brands is considering Ocala to relocate a Chicago-based company they acquired to create an additional 91 jobs. These are just two of the pipeline projects that give us reason to believe the future is looking brighter for our community!

Best Regards,

Pete Tesch
President/CEO

2009-2010 Fiscal Year

The Ocala/Marion County EDC is pleased to announce the following business expansion and relocation activity in our community. It is an honor for our team to assist these companies with job creation and economic growth that makes Ocala/Marion County great for business…great for life.

First Quarter

Second Quarter

2009-2010 Year To Date Totals

The Office of Tourism, Trade and Economic Development has approved the City of Ocala’s first Enterprise Zone designation, which will remain in effect until Dec. 31, 2015. This designation allows businesses and residents within its borders to take advantage of various financial incentives in order to spur development in the targeted area. The incentives include sales tax credits for job creation, corporate income tax credits, business and building material sales tax refunds, and partial sales tax reductions for electrical energy. For more information on the Enterprise Zone, please contact the City at 629-8312, or e-mail your inquiry to LTPS@ocalafl.org.

View the Enterprise Zone commercial on the EDC homepage.

Community leaders gathered as IHMC officially opened the doors to their newest research facility located in the former Marion County Public Library. You may view video highlights of the evening courtesy of our partners at Workforce Connection.
	State Speaker of the House Larry Cretul chats with Assistant Secretary of Commerce John Fernandez prior to the opening ceremonies.
	Dr. Pamella Dana welcomed the guests and introduced the dignitaries. She expressed her appreciation on behalf of IHMC for the collaborative efforts that made the project possible.      "I see this community as one of the most 'Can Do' overall communities I have experienced... That really makes a difference in whether you are a winner in bringing business prospects to your community, or a loser...so give yourselves a big hand!"
	Dr. Ken Ford welcomed guests and expressed his appreciation to the partnership of the EDC, City, County, State and Federal organizations that made the Ocala expansion possible.   "We have been overwhelmed by the outpouring of support...Thank you all for making today a reality."
	Prior to the IHMC Dedication, Assistant Secretary of Commerce John E. Fernandez met with members from the Ocala/Marion County Economic Action Team to discuss current and future recovery efforts underway in our community. Fernandez recognized the high level of collaboration locally that enables our community to leverage support from the EDA.   "We are very small in the federal system, but we provide great value with a strong return on private sector dollars generated for every federal dollar invested. We rely heavily on people like you who do the hard work and heavy lifting on these projects to bring them to us for assistance."

One of the advantages to IHMC locating in Ocala is the Community Lecture Series. The institute brings in intriguing speakers to share knowledge on a variety of scientific topics. While the lectures are attended by scientists and researchers, they are engaging for community members as well. The first Ocala lecture was conducted by Dr. Harrison Schmitt, one of the last men to visit the moon as a part of Apollo 17. He shared his memories and expressed his hope for the future of lunar exploration.

This Economic Update has been developed to meet the communication needs expressed by our investors. The EDC has been asked to provide quick, easy-to-read highlights, with further details just a click away.The Economic Update is the new tool for delivering the Quarterly Report, and other relevent economic updates. Let us know what you think!

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