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ORDINANCE NO. 87-19 Poverty statistics show that the County percentage of persons below the poverty level is lower than that of the State. Of the County's total population, 8.3% were below the poverty level and 37.3% of the County's black population were below the poverty level in 1979. Approximately 13.4% of the County's population under the age of 55 had incomes below the poverty level in 1979, indicated that the older residents were more affluent than the younger residents. Potentials for Economic Development Indian River County has a large available labor pool comprised of unemployed persons seeking year round work and seasonally unem- ployed workers looking for short term employment. The County is also perceived as a nice place to live and has a high quality of life including low residential densities, numerous recreational opportunities, a high level of health care, and opportunities for higher or continuing education. The County's rapid population growth, comprised of a large influx of affluent retirees, provides_ a large market for goods and services. The high median income and amount of disposable income available creates an ever increasing demand for goods and services. The thriving citrus industry and the prominence of "high-tech" industries near Kennedy Space Center can be used as a means of attracting industry to Indian River County. The designation of large tracts of land in the County for commercial and industrial development and the availability of other areas which have not been fully utilized provide many locations for new activity. Interstate 95, U.S. 1, S.R. 60, the F.E.C. Railroad, the Vero Beach and Sebastian Airports, and the Intracoastal Waterway all form an integrated transportation network favorable for interstate commerce. The favorable tax structure and large number of financial institu- tions provide a large pool of available capital for commercial expansion. Economic Development Constraints Due to the cyclical nature of unemployment in Indian River County, the number of persons available for full time work fluctuates by season. A majority of the unemployed work force are unskilled and many of the young people are leaving the County due to lack of employment opportunities. County residents have not perceived economic development as positive in the past and the cost of living is slightly higher than the national average and is one of the highest among counties in the State. The County does not presently have excess water and wastewater capacity in most areas and some commercial and industrial areas will probably not be served by public water and wastewater facilities for ten to fifteen years. The County does not currently offer any financial incentives, other than Industrial Development Bonds, to developers interested in locating in the County. Some of the County's land development regulations may even serve to inhibit economic development in certain areas.