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Comprehensive Plan Economic Development Element <br />Even with tl.„ s o �ful rec-ru't.. ent of Torrey Pine the Mann Researeh reHtrr, and N��'"r��'--''��r-''« <br />unc'.-cur at the he much ofan impaet the Researeh Ceast effet4 will have upati India,-, River <br />aar ,, gom. ' <br />the ease of F l,riga'„ Rese Fele Coact, that development with eeneentfatien On <br />stage, <br />bFanding atid naffie reeagnition rather than heavy reefuitment. With the sueeessftil reeruitment of <br />Terrey Pines, the Mann Researeh �-r, and V r. c;nsilar <br />may leeate within the area. <br />Te,-uapitaliz2 on this e ff-6 k dian River County ean posifien itself as a l „t: n 44 hese usinoceas <br />that Juppart the 'if seienees industry. Ir. ,moo: b, the Count, may be in a pori <br />this,potential spinoffeempanies ffofn the developing life seienee elUStff in St. Lueie County. To do <br />theCotint� ould a;Jarc that dc;' , V.-oportizc, are avails' c-=.panie5 that are <br />FeffHited. in addition, the lama .,t. should ident;appropriate ,la .t: s fe fie, b /i <br />ndustra <br />parks, pravide approffiate inffaStFtiettffe fOF these indtiStffialllbu cm pvtks, an eC1ite pr j ' <br />{-��yvie f tl„o indu:,t ,- <br />alb o L and proposed businesses vAthin the industria" ,; <br />Q <br />rf__' . <br />Summary <br />To improve the standard of living for residents, the County should continue to strengthen and <br />diversify its employment base so that the local economy is not primarily reliant upon low paying <br />service oriented industries. To do so, the County should maintain a multifaceted approach to <br />economic development. This should include: <br />■ Refining the County's existing targeted industry list to be consistent with the State's target <br />industry list, which includes the aviation, aerospace, life sciences (biotech), and specialty health <br />care industries; <br />■ Providing infrastructure to accommodate a growing population base and to accommodate the <br />needs of targeted industries; <br />■ Facilitating the development of large lot industrial parks; <br />■ Providing appropriately zoned land for development by target industries; <br />■ Continuing regional cooperation as part of the "Florida's Research Coast Economic <br />Development Coalition Initiative"; <br />■ Promoting the assets of the County to CEOs and CFOs of targeted industries; <br />■ Recognizing the decline in the citrus industry and the need to identify new farm uses for export; <br />■ Maintaining appropriate economic incentives for key manufacturing and target industries <br />(financial incentives, expedited permitting, etc.); <br />■ Marketing the County for tourism; <br />■ Preserving environmental and cultural assets of the community; and <br />■ Identifying and stopping any remaining service industry leakages. <br />Community Development Department Indian River County 43 <br />