Business
Strong Growth Forecasted at 2015 Orange County Economic Summit
ORLANDO – Economists and distinguished panelists who spoke at Mayor Teresa Jacobs’ 2015 Orange County Economic Summit on Thursday are optimistic that the region’s economic ascent will continue in 2015.
The Summit, now in its third year, was held at the Orange County Convention Center and attended by more than 600 citizens.
Buoyed by rising property values, exceptional job growth and the region’s world class hospitality and tourism sector, Orange County’s unemployment has dropped from 11.3 percent in November 2010 to the current 5.2 percent.
“When I was first elected Mayor in 2010, our region was grappling with serious economic concerns, from challenges associated with the financial meltdown and global recession, to fears about balancing our Orange County budget without cutting crucial services,” Mayor Jacobs said during her remarks to the capacity crowd. “Thanks to an incredible amount of hard work from our workforce, education, and public and private-sector partners, we’ve rebuilt. Not just figuratively, but literally. From our brand new Dr. Phillips Center for the Performing Arts, to SunRail, the newly reopened Citrus Bowl, and our new, under-construction MLS soccer stadium, we are the envy of the world.”
Photo By FNN Staff J. Willie David, III (Left to Right) OCSWCB District Supervisor, Seat 2 Daisy Morales and State Representative Jennifer Sullivan attends the 2015 Orange County Economic Summit
Nationally recognized economist Sean Snaith, Ph.D., director of the University of Central Florida’s Institute for Economic Competitiveness, provided his annual economic forecast at the Summit.
“It may not be morning in America as the U.S. economic recovery remains in a pre-dawn twilight, but the sun is shining on Florida’s economy and it is shining even more brightly on Orange County,” Snaith said.
National Entrepreneur Center (NEC) President Jerry Ross presided as the event’s Master of Ceremonies. Guest speakers James Bacchus, global practice chair of the Greenberg Traurig law firm, and Manuel Mencia, senior vice president of international trade and business development with Enterprise Florida, Inc. discussed future trends in international trade.
“We have an enormous stake in international business. Seventeen percent of Florida’s economy depends on international business and more than 60,000 companies are engaged in international business in the state,” Mencia said.
In a Q & A following their speeches, Bacchus and Mencia discussed Central Florida’s efforts to enhance and increase international trade. Last year, the Central Florida International Trade Office (CFITO) opened at the NEC to streamline the process for foreign investors to connect with local partners. CFITO is located in the National Entrepreneur Center at Orlando Fashion Square Mall.
“The world’s economy is increasingly connected,” Bacchus said. “We need to add value to these connections and seize the opportunity to help our prosperity and promote economic diversity in Central Florida.”
In addition to panel discussions on the burgeoning opportunity for international trade, an update on the region’s branding initiative — “Orlando. You don’t know the half of it.” — was provided by the Orlando Economic Development Commission’s leadership team. Summit attendees also received branding tokens from the Orlando EDC to support the region’s new branding initiative.
“With this launch we are telling our story of economic opportunity and diversity to the world,” Mayor Jacobs said.
The Mayor’s annual Economic Summit was launched in 2013 following a series of nine economic and job summits designed to examine the area’s varied needs. Those meetings, held in 2011 and 2012, focused on key geographic regions and industries such as life sciences, clean technology and international trade.
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Terminal upgrades, parking projects and international connections mark the authority’s fiscal year review.
ORLANDO, Fla. (FNN) — The Greater Orlando Aviation Authority highlighted terminal improvements, expanded international connections and parking projects during its fiscal 2026 review, while its board adopted changes to a local business program and announced a new statewide small business initiative.
The updates affect Orlando International Airport and Orlando Executive Airport, which GOAA operates.
“We are undertaking an ambitious effort to redefine what it means to deliver a world-class airport experience,” GOAA CEO Lance Lyttle said in the authority’s announcement.
“As we welcome more visitors, more airlines, more routes, and new programs, our responsibility is to elevate every part of the journey — making it more welcoming, intuitive, and connected.”
A Gate Link train travels along an elevated guideway at Orlando International Airport, with the airport’s control tower in the background. Photo courtesy of the Greater Orlando Aviation Authority.
Terminal Improvements Focus on Connections and Families
Among the completed projects was an enclosed pedestrian bridge with moving walkways connecting Orlando International Airport’s train station and Terminal C.
Terminal C also opened a new wing serving gates 250–254, providing additional capacity and becoming the new home for Virgin Atlantic’s airport operations.
Three new Family Zones — one in each terminal — offer spaces for children and families to play, read and recharge. GOAA also highlighted improvements to directional signs along airport roads, in parking areas and throughout the terminals.
Parking Expansion and $40 Million Improvement Program
GOAA reported progress on a parking guidance system at Terminal C, with phased activation across all garages planned through mid-2027.
Dedicated employee parking areas are intended to free additional spaces for travelers. Planning is also underway for two new garages expected to add 8,000 public parking spaces over the next few years.
Separately, the authority’s $40 million Beautiful Airports Program targets safety, functionality and appearance across garages, terminals and other airport areas.
Aviation Investments and International Service
The fiscal year review highlighted a $50 million investment by dnata, a $26 million redevelopment by Signature Aviation at Orlando International Airport and groundbreaking for Sky Harbour’s $40 million campus at Orlando Executive Airport.
International service developments included ZIPAIR’s nonstop passenger charter flights between Orlando and Tokyo and Iberia’s launch of nonstop service to Madrid.
GOAA described ZIPAIR’s service as the first passenger charter connection between Florida and the Asia-Pacific region.
Business Policy Changes Broaden Eligibility
The board adopted revisions to GOAA’s Local Developing Business program following research, town halls and discussions with internal experts.
The changes increase the allowable personal net worth threshold and clarify how assets are excluded from that calculation, including primary residence equity, business equity, retirement assets and certain nonliquid holdings.
Business size standards were also revised to account for inflation and increased operating costs. The announcement did not specify the updated financial thresholds.
A new Small Business program will complement the local program and extend eligibility to qualifying businesses throughout Florida. Under the announced framework, participating businesses must fall within 50% of the applicable U.S. Small Business Administration size standard.
GOAA said detailed guidelines for both programs would be posted on its website. Those guidelines will provide businesses with the information needed to assess eligibility.
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