HomeMy WebLinkAbout2010-252A (05)Indian River County
2030 Comprehensive Plan
A 1 . ON
Indian River County Community Development Department
Adopted: October 12, 2010
Comprehensive Plan Economic Development Element
Table of Contents
List of Figures
List of Tables iii
Introduction 1
Background 1
Inventory of Existing Conditions
2
Geography
2
Demographic Characteristics
3
Market Relationships/Access to Markets
7
Tourism
11
Economic Characteristics
13
Economic Development Trends
19
Identification of the County's Constraints and Potentials 30
Geography 31
Demographic Characteristics 32
Market Relationships/Access to Markets 34
Tourism 35
Economic Characteristics 36
Economic Development Trends 37
Goal, Objectives, and Policies 43
Implementation, Evaluation, and Monitoring 53
Implementation 53
Evaluation & Monitoring 56
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Comprehensive Plan Economic Development Element
List of Figures
Figure Title Page
5.1 Population Growth Rates by Age Group 6
5.2 Regional Transportation Map 10
5.3 Indian River County Tourist Tax Revenue 13
5.4 Unemployment Trends of Indian River County 15
5.5 Estimated Building Permit Values (2008) 21
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List of Tables
Table Title Page
5.1
Historical Population of Indian River County (1930 - 2009)
3
5.2
Population Projections for Indian River County (2010 - 2030)
4
5.3
Indian River County Population by Age (1995 - 2008)
5
5.4
Median Age
6
5.5
2008 Tourist Facilities in Indian River County
12
5.6
Employment Levels of Tourist Related Industries in Indian
12
River County (2008)
5.7
Indian River County Labor Force and Unemployment Rate
14
5.8
Indian River County Labor Force and Unemployment Rate by
14
Month
5.9
Indian River County Employment by Major NAICS Division
15
5.10
Indian River County Largest Employers (2009)
17
5.11
Indian River County Wages by Major NAICS Sector
18
5.12
Indian River County Income Levels
19
5.13
Unincorporated Indian River County Building Permit Activity
20
(2006-2008)
5.14
Unincorporated Indian River County Building Permit Estimated
21
Values (2008)
5.15
2007 Indian River County Commercial/Industrial Nodes
22
5.16
Economic Development Element Implementation Matrix
53
5.17
Economic Development Element Evaluation Matrix
56
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Comprehensive Plan Economic Development Element
Introduction
The Economic Development Element of Indian River County's Comprehensive Plan is an optional
element which is not required by the state. Although not required, the Element is consistent with all
the other county Comprehensive Plan Elements as well as with the regional and state plans.
As structured, the Economic Development Element sets forth the county's policies for economic
growth and diversification. Like other plan elements, the Economic Development Element includes
sections that describe the existing conditions and trends within the county and analyzes those
conditions and trends. A section on the potentials and constraints for economic development is also
provided. The final section of the element consists of the goals, objectives, and policies which were
formulated based on the potentials and constraints within Indian River County's economy.
Background
In 1990, the county approved its first Economic Development Element as part of the overall
Comprehensive Plan. The element was based on the county's Overall Economic Development Plan
(OEDP) which had been adopted by the Board of County Commissioners in June of 1985.
On July 31, 1985, the Economic Development Administration (EDA) designated Indian River
County as a Title IV Redevelopment Area, an action which qualified the county to apply for federal
funds for economic development projects. At that time, representatives from the OEDP Committee,
along with selected members of the county's Economic Development Committee, were chosen to
form the Economic Development Council (EDC).
With its formation, the EDC was given the responsibility of implementing the strategies of the
OEDP and improving the community's perception of economic development programs. In
implementing the OEDP's strategies, developing economic development projects, and evaluating
and revising the OEDP annually, the County Planning Division worked directly with the EDC and
OEDP Committee.
In June of 1995, the county adopted an Economic Development Strategy Plan (EDSP). That plan
consists of a mission statement, objectives, and strategic actions. The strategic actions represent a
careful balance between the county's existing economy, the constraints and potentials of the
community and community resources. The EDSP was prepared utilizing an Economic Development
Administration grant awarded to Indian River County in 1993.
As part of the comprehensive planning process, Indian River County prepared Evaluation and
Appraisal Reports in 1996 and in 2008 to assess the success or failure of its Comprehensive Plan.
Each element, including the Economic Development Element, was evaluated to determine if the
various objectives were achieved. The 2010 Economic Development Element is based on the
conclusions of the 2008 Evaluation and Appraisal Report.
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Comprehensive Plan Economic Development Element
Inventory of Existing Conditions
Overall, there are many factors which influence economic development in an area. These range
from physical conditions to demographic characteristics, including existing and projected
population levels. This section addresses those factors.
Geography
Climate
Indian River County has a humid, subtropical climate. According to the United States Geological
Survey, Indian River County's average coastal temperature, as measured at the Vero Beach
Municipal Airport, is 23°C (73.4°F). The temperature further inland, at Fellsmere, is similar. While
this average temperature is moderate, the county's afternoon temperatures usually exceed 32°C
(90'F) throughout the summer. Freezing temperatures occur occasionally in the coastal areas of the
county, but they occur almost annually in the county's inland area.
As measured at the Vero Beach airport, the county's mean annual precipitation is 53.4 inches, while
the average precipitation inland at Fellsmere is approximately 57 inches. More than 60% of this
total annual rainfall occurs during the summer months.
Topography
Topographically, Indian River County lies in Florida's coastal lowlands. In Indian River County,
these lowlands include several ancient marine terraces, each of which was part of the ocean bottom
at a time when the Atlantic Ocean stood much higher. The two terraces which comprise Indian
River County are the Pamlico Terrace and the Talbot Terrace.
The Pamlico Terrace covers the area from the county's coast to the western edge of St. Johns Marsh,
a distance of approximately 24 miles. This terrace is comprised of three distinct ridges: an offshore
bar, the Atlantic Coastal Ridge, and the Ten -mile Ridge. Most of this area is less than 25 feet above
sea level.
The offshore bar is the current barrier island. This island reaches a maximum height of
approximately 20 feet above sea level. West of the island is the Indian River. Further west and
located on the present-day mainland is the Atlantic Coastal Ridge. That ridge, which is a remnant of
an offshore bar, was formed in the Pamlico Sea and reaches altitudes of more than 50 feet. West of
the Atlantic Coastal Ridge is a flat, trough -shaped area that is analogous to the present Indian River.
Adjacent to this is the Ten -mile Ridge, which is a less pronounced sand ridge located approximately
Community Development Department Indian River County 2
Comprehensive Plan Economic Development Element
seven miles west of the coastal ridge. The St. Johns Marsh is west of the Ten -mile Ridge and has an
elevation of approximately 25 feet.
The second terrace in Indian River County, the Talbot Terrace, begins at the western edge of the St.
Johns Marsh. That terrace, which reaches an altitude of approximately 40 feet above sea level,
extends into and beyond the northwest corner of the county.
Demographic Characteristics
Historic Population
Table 5.1 shows the county's historical population for the years 1930 to 2009. For the entire 1930 to
2009 period, Indian River County's population increased by 134,751 persons, a 2,004% increase in
population over seventy-nine years. In the more recent 1980 to 2009 period, Indian River County's
population increased by 81,579 persons. That 136% increase in population over twenty-nine years
exceeded Florida's population growth rate which was 92.37% during that period.
Table 5.1: Historic Population of Indian River Count 1930 - 2009
Year
Population
Numerical Increase
% Increase
1930
6,724
1940
8,957
2,233
33.21%
1950
11,872
2,915
32.54%
1960
25,309
13,437
113.18%
1970
35,992
10,683
42.21%
1980
59,900
23,904
66.41%
1990
90,208
13,766
18.01%
1995
100,375
10,167
11.27%
2000
112,947
12,686
12.65%
2005
130,041
17,094
15.13%
2009
141,475
-192
-0.135%
Source: U.S. Census Bureau and the University of Florida, Bureau of Economic and Business Research.
In 2009, the state's population was estimated to be 18,750,483, an increase of 17.32% since 2000,
when the state had a population of 15,982,824. Indian River County's growth rate was 7.94
percentage points higher than the state's growth rate during that period.
As shown in table 5. 1, Indian River County's population increased from 112,947 people in 2000 to
141,475 in 2009, an increase of 25.26%. This population growth was almost exclusively due to new
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Comprehensive Plan Economic Development Element
residents moving to the county.
With respect to economic development, these population changes indicate that the county is
expanding its consumer base. This expansion produces more activity and enhances the area's
economy.
Population Projections
Table 5.2 displays the population projections for Indian River County from 2010 to 2030. The
percentage increase in population over the twenty year projection period is 38.37%, which is 18.46
percentage points lower than the percentage increase experienced in Indian River County over the
previous twenty years. This lower projected growth rate can be attributed to several factors,
including demographic and economic trends.
Table 5.2: Population Projections for Indian River County (2010 - 2030)
Year
Population
Numerical Increase
% Increase
142,300
2010
155,000
12,700
2015
8.92%
169,300
14,300
2020
9.23%
183,400
14,100
2025
8.33%
196,900
13,500
2030
7.36%
Source: Bureau of Economic and Business Research. University of Florida, 2009.
Components of Population Change
Table 5.3 displays the numerical and percentage breakdown of the county population by age and
over time. As shown in that table, persons aged 65 and older represented the largest share of Indian
River County's population in 1995, 2000, and 2005. In 2008, that age category was second largest
to the 45 to 64 year old age category. The implications of having a large share of older persons is an
increased demand for services which will increase employment in service industries.
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Table 5.3: Indian River County Po Mation by Age 1995 - 2008
Year
0-14
Share of
Population
15-24
Share of
Population
25-44
Share of
Population
45-64
Share of
Population
65 and
Over
Share of
Population
1995
16,613
16.57%
9,335
9.31%
24,082
24.02%
21,431
21.38%
28,800
28.73%
2000
17,677
15.65%
10,784
9.551Yo
25,154
22.27%
26,360
23.34%
32,972
29.19%
2005
19,953
15.34%
13,502
10.38%
26,221
20.16%
34,796
26.76%
35,571
27.35%
2008
21,401
15.11%
14,486
10.23%
27,502
19.41%
39,577
27.94%
38,701
27.32%
Source: Bureau of Economic and Business Research, University of Florida.
As shown in Figure 5. 1, all five age groups increased in population between 1995 and 2008. For
each time period compared, persons aged 45 to 64 had the largest gain in Indian River County
population. The highest increase for this age group occurred between 2000 and 2005. During that
time period, this age group increased 32%.That large increase occurred during a time when the
County was under a building boom which provided more jobs for this age group.
Between 2000 and 2005 the 15 to 24 age group had the second highest population growth rate at
25.20%, followed by the 0 to 14 age group that had a population growth rate at 12.88%. The
increases in population of these two age groups are related to the growth in the 45 to 65 age group.
With the recent downturn in the economy, the growth rates of the 45 to 65, 0 to 14, and 15 to 24 age
categories have been significantly reduced.
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Comprehensive Plan Economic Development Element
Table 5.4 displays the median age of the population of Indian River County and the State of Florida.
In 2007, the median age of Indian River County was 48.4, which was 1.2 years older than the 2000
median age of the County. Indian River County's median age measure was also higher than the
state's median age measure for all years shown in table 5.4. In 2007, Indian River County's median
age was eight and one-half years higher than the state of Florida's median age.
TABLE 5.4
MEDIAN AGE
Figure 5.1:
Population Growth Rates By Age Group
1980
35.00%
-
2005
30.00
Florida
ai
25.00%
36.3
38.7
39.7
39.9
Indian River County
34.5
39.6
43.8
47.0
47.9
W
o
20.00/o
2.2
4.9
7.5
8.3
8.2
8.5
El 1995-2000
15.00% _
®2000-2005
0
10.00%
El 2005-2008
5.00%
0.00%
0-14 15-24 25-44 45-64 65 and
Age Groups Over
Table 5.4 displays the median age of the population of Indian River County and the State of Florida.
In 2007, the median age of Indian River County was 48.4, which was 1.2 years older than the 2000
median age of the County. Indian River County's median age measure was also higher than the
state's median age measure for all years shown in table 5.4. In 2007, Indian River County's median
age was eight and one-half years higher than the state of Florida's median age.
TABLE 5.4
MEDIAN AGE
1970
1980
1990
2000
2005
2007
Florida
32.3
34.7
36.3
38.7
39.7
39.9
Indian River County
34.5
39.6
43.8
47.0
47.9
48.4
Gap Between State and
IRC Median Age
2.2
4.9
7.5
8.3
8.2
8.5
Source: Bureau of Census, Census of Population; BEBR
As composition of Indian River County's population continues to shift toward the elderly sector of
the population, it can be expected that service industries will continue to dominate the economy of
Indian River County.
Community Development Department Indian River County 6
Comprehensive Plan Economic Development Element
Education
Currently, the School District of Indian River County is a Grade "A" school district. That is the
highest letter grade that can be awarded by the state to a school district. The "A" grade was awarded
to the County because of exceptional scores district wide on state standardized tests. Overall, the
School District's district -wide score for the 2008-09 school year placed the County in 17th place out
of Florida's 67 counties (top 25%).
Within Indian River County and the surrounding region, there are various universities and technical
institutes providing education and research opportunities to county residents and businesses. Several
of those higher education institutions offer programs within Indian River County in which students
can earn credits toward an associate, bachelor, or masters degree program.
Besides primary, secondary, and higher education, the county also has training programs available.
These are coordinated and monitored by Workforce Solutions. In 2006/2007, 48 job training
programs, approved by Workforce Solution's Targeted Occupations List, were offered within Indian
River County by Indian River State College, the School District of Indian River County, and the
Vero Beauty and Massage Institute. These institutions/organizations can specifically tailor training
for new and existing businesses in Indian River County based on the businesses' needs.
Housing
An adequate supply of housing is an important economic development location factor. For both
employees and management, adequate housing needs to be available either in the community or
nearby.
Presently, the county has a mix of affordable single family and multifamily units. Although housing
affordability was an issue in the housing boom period of 2002 to 2005, the overbuilding at that time
led to a collapse of the housing market and an increase in housing affordability.
Housing issues related to Indian River County are addressed in the Housing Element of the
Comprehensive Plan.
Market Relationships/Access to Markets
Located along the east coast of Florida, approximately two hours north of the major metropolitan
areas of South Florida, Indian River County is approximately thirty minutes north of the Fort Pierce -
Port St. Lucie MSA, approximately forty-five minutes south of the Palm Bay -Melbourne -Titusville
Metropolitan Area, and approximately one hour and forty-five minutes southeast of the Orlando
Metropolitan Area.
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Comprehensive Plan Economic Development Element
To some degree, the county's economic future is dependent on its relationship to existing dominant
and emerging Metropolitan Statistical Area (MSA) markets. Those markets are large enough and
have enough economic momentum to create spillover growth in adjacent non -metropolitan areas. In
addition, those markets provide employment opportunities for non -metropolitan area residents who
live within a reasonable commuting distance.
With recent improvements in communications technology, many industries no longer have locational
constraints. Certain location factors, however, are still important depending on the industry and its
production process. For example, a location near a major market is important to industries that have
a product that gains weight during the production process (i.e. orange juice), whereas a location
near the raw materials source is important to industries that have a product that loses weight during
the production process (i.e., iron ore). Increasingly important locational factors are land and wage
costs. Tangible factors such as climatic conditions and amenities available in a community also play
important roles in the decision making process.
Through globalization, many new markets have opened for American firms. These new markets
have increased the opportunity for these firms to expand. At the same time however, many
companies have moved some of their operations to other countries where the cost of producing
goods and services is less than in the U.S. Ultimately, Indian River County is not just in competition
with other counties and regions in the U.S., but also in competition with other countries that may
have economic advantages over the U.S. economy. One country that has a competitive financial
advantage is China. Due to the cost of labor and a deflated currency, China has lower production
costs than the United States.
With respect to foreign trade, the Central Florida Foreign Trade Zone, located in Fort Pierce,
provides a duty-free market for certain businesses. The zone includes the St. Lucie County
International Airport, the King's Highway Industrial Park, and the St. Lucie West Park of
Commerce, with a U.S. Customs and Border Protection office is located at the St. Lucie County
Airport. Any business that imports goods to the U.S. for the purpose of supplying that good as a
component of another product is eligible to benefit from the Foreign Trade Zone.
Transportation
Road access to existing MSA markets is critical to the future growth of Indian River County.
Figure 5.2 shows the Interstate and state routes that link the county to the MSA markets.
For commerce within the state, I-95 is the dominant route. It extends within the state from Miami to
Jacksonville. To the North, it extends further up the east coast of the United States to all of the
major metropolitan areas either directly or through short segments of connector highway. In Indian
River County, there are two interchanges on I-95, one at County Road (CR) 512 in the north part of
the county and the other at State Road (SR) 60 in the central part of the county. While both existing
Community Development Department Indian River County 8
Comprehensive Plan Economic Development Element
interchanges are important for future industrial growth in Indian River County, a third interchange is
planned for the future at Oslo Road in the south part of the county. When this interchange is
ultimately constructed, it will provide direct access to a largely undeveloped industrial area of the
County.
Prior to construction of the Interstate system, U.S. #1 was the historical route connecting the U.S.
east coast metropolitan areas. It extends along almost the entire east coast of the U.S. In Indian
River County, U.S. #1 runs the full length of the county and connects most of the communities
within the county to each other.
Extending from Vero Beach in the east portion of the county to Tampa, a major metropolitan area on
the west coast of Florida, SR 60 is a major east/west corridor on the Florida, Intrastate Highway
system. This route functions as an important east/west connector in the state. In addition, it
connects the County to the Florida Turnpike which provides access to markets southward to Miami
and northward to Orlando. Recently, SR 60 was expanded from two to four lanes from I-95 to
Yeehaw Junction.
Currently, the county has sufficient capacity on its road network to accommodate additional growth.
Transportation issues related to Indian River County are addressed in the Transportation Element of
the Comprehensive Plan.
Within Indian River County, there are two municipal airports. These municipal airports are in Vero
Beach and Sebastian. While the Vero Beach Municipal Airport accommodates a full range of
general aviation aircraft up to corporate jets, and is fully certified by the FAA under Part 139, the
Sebastian Municipal Airport accommodates both piston aircraft and small corporate jets. Both Vero
Beach and Sebastian Airports provide public services to a large economic base of aviation related
businesses. Approximately 38 miles north of Indian River County, Melbourne International Airport
is the closest commercial airport with scheduled passenger service to major cities.
Community Development Department Indian River County 9
Comprehensive Plan Economic Development Element
OCALA
TAMPA- >---
ST. PETERSBURG
CLEARWATER.
TAMPA
SARASOTA-
BRADENTON
PUNTA GORDA
ST. MYERS-
CAPE CORAL
ce
RLAN
LAKELAND- V
WINTER HAVEN
NAPLES
® MSA BOUNDARY
DAYTONA BEACH
N
MELBOURNE-
TITUSVILLE-
S PALM BAY -
INDIAN RIVER
-� COUNTY
FT.. -PIERCE -
PORT ST. LUCIE
WEST PALM BE CH-
BOCA RATON
FT. LAUDERDALE
MIAMI. •
yj MIAMI
. FIGURE 5.2
REGIONAL TRANSPORTATION MAP
Community Development Department Indian River County 10
Comprehensive Plan Economic Development Element
Indian River County does have rail service available for freight transport. This service is provided
by the Florida East Coast Railway, a freight line that serves the entire east coast of the state. At
present, Indian River County does not have passenger rail service available. The closest AMTRAK
service is in Okeechobee, approximately one hour and ten minutes to the southwest of Indian River
County.
Access to Resources
Currently, Indian River County is served by two electric utility systems. These are Florida Power
and Light (FPL) and the City of Vero Beach electric utility system. Currently, FPL offers certain
economic incentives, such as off peak hour pricing and its Economic Development Rider program,
for businesses. The FPL Economic Development Rider program allows for a reduction in the base
demand and energy charges for a new or expanding industrial facility over a five year period. The
facility must have an electricity demand of at least 5,000 kW at a single delivery point.
Within the county, natural gas is available from a pipeline that runs just west of I-95 and from a
local gas pipeline available for public use that is located along SR 60. The availability of natural gas
is a key locational requirement for a wide range of activities from food processing to power
generation.
Within the county, there is adequate water and sewer available. While all major county
commercial/industrial nodes have access to centralized water and sewer, reuse water is also available
from the sewage treatment system for cooling, irrigation, and other non consumptive purposes. Both
potable water and sanitary sewer are addressed in detail in their respective sub -elements.
As the country's information and data management systems become increasingly integrated, the
telecommunications and fiber optic infrastructure is becoming a more important site location
criterion. Currently, Indian River County is participating in a regional fiber optic initiative to
connect jurisdictions with fiber optic wire. Fiber optics are likely to become more important in the
future to business location decisions.
Tourism
Tourism is important to Florida and is a vital part of the economic strength of Indian River County.
In addition to providing jobs, the tourism industry produces tax revenue for the county. In Indian
River County, the tourism marketing effort is managed through the Tourist Development Council, a
county sponsored agency. The actual marketing is performed by the Tourist Division of Indian
River County Chamber of Commerce.
Certain industries, such as Food Services and Drinking Places (NAICS 722), Accommodations
(NAICS 497), and Amusement, Gambling and Recreation (NAICS 713), are closely linked to
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Comprehensive Plan Economic Development Element
tourism. Table 5.5 displays the number of licensed hotels and motels in Indian River County and the
total number of rooms available to visitors of Indian River County in 2008. Also shown in table 5.5
is the number of licensed food service establishments in Indian River County and total seating
capacity for those establishments.
Table 5.5: 2008 Tourist Facilities in Indian River County
Licensed Hotels & Motels
Licensed Food Service Establishments
Number
Units
Number
Seating Capacity
34
1,633
328
26,270
Source: Bureau of Economic and Business Research, 2008 Florida Statistical Abstract, University of Florida, 2008.
Table 5.6 displays the 2008 employment levels of the tourist related industries in Indian River
County. While tourist related employment encompasses many more NAICS industries than the three
industries listed in Table 5.6, the three industries identified in table 5.6 are considered the most
intensely related to tourism activities.
Table 5.6: Employment Levels of Tourist Related Industries in Indian River County (2008)
NAICS Industry
Code
Number of
Share of Total County Employment
Employees
722 Food Services and Drinking Places
3,617
7.37%
721 Accomodation
497
1.01%
713 Amusements, Gambling, and
1,901
3.88%
Recreation
6,015
12.26%
Total Primary Tourist Related Employment
Source: State of Florida, Agency for Workforce Innovation, Labor Market Statistics, "Quarterly Census of Employment and Wages"
(ES -202), Annual NAICS files, Internet site — http://www.labormarketinfo.com/Library/QCEW.htm (accessed December 2009).
Another measurement of tourist activity is the amount of local option tourist tax revenue collected.
This tax is derived from transient rental trade, with any rental agreement for a period of six months
or less being subject to the tax. As shown in Figure 5.3, tourist tax collected in Indian River County
decreased by 13.3% from 2007/08 to 2008/09. Major factors contributing to the decrease in tourist
tax revenue in 2008/09 were the loss of the L.A. Dodgers and the recession. In Fiscal Year 2008/09,
Indian River County ranked twenty-ninth in tourist tax revenue collections out of the sixty Florida
counties with a local option tourist tax.
Community Development Department Indian River County 12
Comprehensive Plan Economic Development Element
Figure 5.3: Indian River County Tourist Tax Revenue
$1,600,000 - $1,498,823.28 $1,498,022.83
$1,400,000 - $1,298,819.54
$1,200,000 -
$1,000,000
$800,000
$600,000
$400,000
$200,000
$-
2006/07 2007/08 2008/09
Fiscal Year
Economic Characteristics
Labor Force/Employment
In any area, the total labor force is normally defined as the number of people of working age (16 thru
65 years old) multiplied by labor participation rates. Table 5.7 displays Indian River County's total
labor force and unemployment rates for the last seven years. Over those seven years, the total labor
force increased by 13,042 persons or 27%. During that same period, Indian River County's
unemployment rate increased by 0.20 percentage points. For each of the years listed in table 5.7,
Indian River County's unemployment rate is well above the state of Florida's unemployment rate.
While Indian River County's unemployment rate was 2.4 percentage points above the State
unemployment rate in 2002, it was 1.9 percentage points above the state average in 2008. That 2008
unemployment rate of 8.1% represented a 2.3 percentage point increase from the county's 5.8%
2007 rate. For 2009, average annual unemployment rate data are not currently available. Monthly
employment data for 2009, however, are available through November 2009. That data show that the
recent economic recession has had a significant adverse effect on the county with the November
2009 unemployment rate being 14.6%. A rate which is 5.1 percentage points higher than the
county's November 2008 unemployment rate.
Community Development Department Indian River County 13
Comprehensive Plan Economic Development Element
Table 5.7: Indian River County Labor Force and Unemployment Rate
Year
Labor Force
Average Annual
Unemployment Rate for IRC
Average Annual Unemployment Rate
for State
2002
49,195
7.9%
5.5%
2003
49,693
8.0%
5.3%
2004
55,398
7.6%
4.8%
2005
57,294
4.6%
3.8%
2006
59,597
4.2%
3.4%
2007
60,439
5.8%
4.1%
2008
62,237
8.1%
6.2%
Source: Florida Agency for Workforce Innovation, Bureau of Labor Market Information.
As shown in Table 5.8, Indian River County's total labor force increased by 2,640 persons, or 4.4%,
between 2006 and 2008. During that same time, the annual average unemployment rate increased by
4.0 percentage points.
Table 5.8: Indian River County Labor Force and Unemployment Rate by Month
Month
2006
2007
2008
Labor
Force
Unemploy-
ment
Unemploy-
ment Rate
Labor
Force
Unemploy
-ment
Unemploy
-ment
Rate
Labor
Force
Unemploy
-ment
Unemploy
-ment
Rate
January
58,773
2,114
3.5
62,095
2,842
4.6
62,744
3,913
6.2
February
58,393
2,029
3.4
61,732
2,679
4.3
62,355
3,751
6.0
March
58,892
1,950
3.2
62,332
2,633
4.2
62,617
3,889
6.2
April
1 58,991
1,992
3.3
62,067
2,614
4.2
62,053
3,719
6.0
May
59,316
2,198
3.6
62,182
2,898
4.7
62,496
4,525
7.2
June
59,864
2,706
4.4
62,576
3,689
5.9
62,289
5,132
8.2
July
60,008
3,035
5.0
62,437
4,132
6.6
62,643
5,822
9.3
August
59,799
3,083
5.1
61,979
4,192
6.8
62,552
6,230
10.0
September
59,869
3,059
5.0
61,893
4,368
7.1
62,026
6,214
10.0
October
59,810
2,682
4.4
61,931
3,939
6.4
61,648
5,762
9.3
November
60,455
2,711
4.4
62,734
3,728
5.9
61,800
5,843
9.5
December
60,989
2,505
4.0
63,214
3,755
5.9
61,614
5,894
9.6
Average
59,597
2,505
4.1
62,265
39456
5.6
62,237
5,058
8.1
Source: Florida Agency for Workforce Innovation, Bureau of Labor Market Information.
Community Development Department Indian River County 14
Comprehensive Plan Economic Development Element
Figure 5.4 displays the unemployment trends in Indian River County for 2006 through 2008. A
major trend shown by the graph is the fluctuation in Indian River County's unemployment due to the
dependence of seasonal employment. As shown in that graph, unemployment in Indian River County
increases during the summer months every year. That can be attributed to the fact that the citrus
and tourist related industries have much higher employment levels during their peak season than
their off season.
12.0
y 10.0
Figure 5.4: Unemployment Trends of Indian River County
m
Table 5.9:
Indian River County Employment by Major NAICS Division
NAICS Code
2007
% of Total
NAICS Sector Employment Employment
Employment
2008
% of Total
Employment
Employment Growth
(2007-2008)
11
Agriculture
8.0
5.28%
2,641
5.38%
1.0%
21
Mining
NA*
NA*
c
NA*
NA*
22
Utilities
26
0.05%
21
0.04%
-19.2%
23
Construction
4,676
9.43%
4,167
8.49%
-10.9%
31-33
Manufacturing
2,221
T
6.0
4.45%
1.6%
42
Wholesale Trade
873
1.76%
867
1.77%
-0.7%
o
-
a
`
4.0
E
j
2.0
0.0
°act c1 ooPQM �a� °c� ��r1 °'�5� �e� po
�epc9 PJ Q�e� O°� opco
Source: Florida Agency for Workforce Innovation, Bureau of Labor Market Information.
Table 5.9 displays a breakdown of employment in Indian River County for 2007 and 2008. It also
shows the employment growth that occurred between 2007 and 2008. In 2008, the top five
employment sectors were service based and represented 56.06% of the Indian River County labor
force. This indicates that the county's economy lacks balance and diversity. As the top two NAICS
sectors in 2008, the Health Care and Retail Trade sectors accounted for 8,055 jobs and 8,011 jobs,
respectively. The remaining top five service sectors were Construction, Accommodations and
Food Service, and Public Administration.
_
Table 5.9:
Indian River County Employment by Major NAICS Division
NAICS Code
2007
% of Total
NAICS Sector Employment Employment
Employment
2008
% of Total
Employment
Employment Growth
(2007-2008)
11
Agriculture
2,615
5.28%
2,641
5.38%
1.0%
21
Mining
NA*
NA*
NA*
NA*
NA*
22
Utilities
26
0.05%
21
0.04%
-19.2%
23
Construction
4,676
9.43%
4,167
8.49%
-10.9%
31-33
Manufacturing
2,221
4.48%
2,185
4.45%
1.6%
42
Wholesale Trade
873
1.76%
867
1.77%
-0.7%
Community Development Department Indian River County 15
Comprehensive Plan Economic Development Element
Table 5.9: Indian
River County Employment by Major NAICS Division
NAICS Code
44-45
NAICS Sector
Retail Trade
2007
2008
Employment Growth
(2007-2008)
-2.1%
Employment
% of Total
Employment
% of Total
Employment Employment
8,179
16.50%
8,011 16.32%
48-49
Transp. & Warehousing
1,009
2.04%
1,013 2.06%
0.4%
51
Information
650
1.31%
662 1.35%
1.8%
52
Finance & Ins.
1,765
3.56%
1,563 3.18%
-11.4%
53
Real Estate
1,086
2.19%
1,133 2.31%
4.3%
54
Professional, Scientific &
Tech.
2,258
4.56%
2,191 4.46%
-3.0%
55
Management of Companies
100
0.20%
92 0.19%
-8.0%
56
Administrative & Support &
Waste Management &
Remediation Services
2,079
4.19%
2,308 4.70%
11.0%
61
Educational Services
NA*
NA*
NA*
NA*
62
Health Care
7,961
16.06%
8,055 16.41%
1.2%
71
Entertainment & Rec.
2,080
4.20%
2,052 4.18%
-1.3%
72
Accom. & Food Services
3,941
7.95%
4,114 8.38%
4.4%
81
Other Services
1,735
3.50%
1,737 3.54%
0.1%
92
Public Administration
3,204
6.46%
3,164 6.45%
-1.2%
99
Unclassified
NA*
NA*
NA* NA*
NA*
TOTAL, EXCLUDING NA
46,458
93.73%
45,976 93.69%
-1.0%
TOTAL ALL INDUSTRIES
49,564
100.00%
49,074 100.00%
-1.0%
*NA = Not Available/Not Published
Source: Florida Agency for Workforce Innovation, Labor Market Statistics, Quarterly Census of Employment and Wages Program (ES -202). In
cooperation with the U.S. Department of Labor, Bureau of Labor Statistics.
In Indian River County, the dominance of service employment is due to consumer demand. As
would be expected, NAICS service sectors associated with tourism make up a large share of Indian
River County service employment.
As shown in Table 5.10, sixteen of the twenty-two major employers in Indian River are in the
service industry. Only two of those employers, Piper Aircraft and Novurania of America, are
manufacturers. Four of the employers listed in the top twenty-two have major fluctuations in
employment depending on the time of year. While Health Care and Social Assistance employers
represented four of the top twenty-two major employers in Indian River County, public
administration employers represented three of the top twenty-two major employers in the county.
Community Development Department Indian River County 16
Comprehensive Plan Economic Development Element
Table 5.10: Largest Employers in Indian River County (2009)
Name
NAICS Major Group
Employees
Total
Full-time
Part-
time
Seasonal
School District of Indian River
County
Educational Services (NAILS 61)
2,147
2,147
0
0
Indian River County
Public Administration (NAILS 92)
1,706
1,548
98
60
Indian River Medical Center
Health Care and Social Assistance
(NAICS 62)
1,671
1,093
253
325
Publix Supermarkets
Food and Beverage Stores (NAICS 445)
1,104
535
569
0
The New Piper Aircraft
Transportation Equipment Manufacturing
(NAICS 336)
700
700
0
0
City of Vero Beach
Public Administration (NAICS 92)
561
489
67
5
John's Island
Accommodation (NAICS 721)
475
250
50
175
Indian River Estates
Health Care and Social Assistance
(NAICS 62)
442
222
136
84
Wal-Mart
General Merchandise Stores (NAICS 452)
404
293
111
0
Sebastian River Medical Center
Health Care and Social Assistance
(NAICS 62)
380
380
0
0
Visiting Nurse Association
Health Care and Social Assistance
(NAICS 62)
348
195
153
0
CVS Warehouse/Distribution
Transportation and Warehousing (NAICS
47-48)
278
325
0
0
Grand Harbor Management
Construction (NAICS 23) & Real Estate
(NAICS 531)
312
208
73
31
Disney's Vero Beach Resort
Accommodation (NAICS 721)
300
195
66
39
St. Edwards School
Educational Services (NAICS 61)
218
134
9
75
Sun Ag, Inc.
Agricultural, Forestry, Fishing, and
Hunting (NAICS 11)
235
100
0
135
Captain Hiram's Restaurant & Resort
Restaurant/Resort
219
85
134
0
City of Sebastian
Public Administration (NAILS 92)
212
154
58
0
Medical Data System
Collection Agency (NAICS 561440)
186
171
15
0
Flight Safety International
Educational Services (NAICS 611)
155
120
111
120
44
0
0
0
Technical and Trade Schools (NAILS
6115)
Novurania of America
Boat Manufacturing (NAILS 336612)
219
85
134
0
Source: IRC Chamber of Commerce (January 2009).
Wages and Income
Table 5.11 displays the annual average wages for the twenty-two major NAICS employment sectors
in Indian River County. As shown in Table 5.9 and Table 11, Indian River County does not have
much employment in the NAICS sectors, such as the Wholesale Trade sector (1.77% of total county
Community Development Department Indian River County 17
Comprehensive Plan Economic Development Element
employment), the Management of Companies sector (0.19% of total county employment) and the
Finance and Insurance sector (3.18% of total county employment) with high annual average wages.
Instead, Indian River County's employment is primarily focused in the Retail Trade sector and the
Health Care sector. For 2007 and 2008, the Retail Trade sector had the second lowest annual
average wage behind only the Accommodations and Food Services sector.
Source: Florida Agency for Workforce Innovation, Labor Market Statistics, Quarterly Census of Employment and Wages Program (ES -202). In
cooperation with the U.S. Department of Labor, Bureau of Labor Statistics.
One of the major determinants of economic vitality in a community is income. Table 5.12 displays
the median household income and per capita income for Indian River County. Household income
includes the income of the householder and all other persons 15 years old and over in the household,
whether related to the householder or not. As shown in Table 5.12, Indian River County's median
Community Development Department Indian River County 18
Table 5.11: Indian River Coun
Wages by
Major NAICS Sector
NAICS
Code
NAICS Sector
Annual
Average
Wage
2007
Share of Total
County Wages
Annual
Average
Wage
2008
Share of Total
County Wages
11
Agriculture
$ 25,542
3.76%
$
25,571
3.77%
21
Mining
NA*
NA*
NA*
NA*
22
Utilities
$ 26,413
0.04%
$
32,688
0.04%
23
Construction
$ 36,695
9.65%
$
36,140
8.40%
31-33
Manufacturing
$ 39,398
4.92%
$
41,388
5.05%
42
Wholesale Trade
$ 121,974
5.99%
$
171,640
8.30%
44-45
Retail Trade
$ 24,973
11.49%
$
24,713
11.05%
48-49
Transp. & Warehousing
$ 38,214
2.17%
$
40,030
2.26%
51
Information
$ 50,460
1.84%
$
57,237
2.11%
52
Finance & Ins.
$ 58,638
5.82%
$
58,359
5.09%
53
Real Estate
$ 33,145
2.02%
$
29,990
1.90%
54
Professional, Scientific & Tech.
$ 56,814
7.22%
$
54,690
6.69%
55
Management of Companies
$ 120,249
0.68%
$
130,738
0.67%
56
Administrative & Support & Waste Management &
Remediation Services
$ 26,663
3.12%
$
26,341
3.39%
61
Educational Services
NA*
NA*
NA*
NA*
62
Health Care
$ 39,831
17.84%
$
39,817
17.90%
71
Entertainment & Rec.
$ 26,652
3.12%
$
28,364
3.25%
72
Accom. & Food Services
$ 15,994
3.55%
$
16,411
3.77%
81
Other Services
$ 24,489
2.39%
$
24,835
2.41%
92
Public Administration
$ 43,004
7.75%
$
44,748
7.90%
99
Unclassified
NA*
NA*
NA*
NA*
ALL INDUSTRIES
$ 35,865
100.00%
$
36,520
100.00%
TOTAL, EXCLUDING NA
93.36%
93.93%
*NA = Not Available
Source: Florida Agency for Workforce Innovation, Labor Market Statistics, Quarterly Census of Employment and Wages Program (ES -202). In
cooperation with the U.S. Department of Labor, Bureau of Labor Statistics.
One of the major determinants of economic vitality in a community is income. Table 5.12 displays
the median household income and per capita income for Indian River County. Household income
includes the income of the householder and all other persons 15 years old and over in the household,
whether related to the householder or not. As shown in Table 5.12, Indian River County's median
Community Development Department Indian River County 18
Comprehensive Plan Economic Development Element
household income increased from $55,500 in 2006 to $58,300 in 2009. Among other factors, this
increase in the county's median household income can be attributed to the continued influx of
wealthier retirees to the county.
Source: United States Department of Commerce, Bureau of Economic Analysis, Regional Economic Information System (REIS), 1969-2007,
Internet site ligp://www.bea.gov/regional/reis/default.cfm?selTable=CAI-3§ion=2 (accessed December 28, 2009)
As defined, per capita income is the mean average income computed for every man, woman, and
child in a particular area. It is derived by dividing the total income of a particular area by the total
population in that area. Table 5.12 shows that between 2006 and 2007 the county's per capita
income level increased by 6.45%.
In Indian River County, retail and service establishments benefit from the high per capita income
and high median household income levels. Generally, higher income levels enhance economic
development by increasing the potential for more retail sales and higher value services.
Economic Development Trends
Citrus Industry
In recent years, the County's citrus industry has suffered significant losses due to the spreading of
citrus canker and citrus greening. While citrus canker is a bacterial disease that causes premature
leaf and fruit drop, citrus greening is a bacterial disease that causes citrus trees to produce bitter
misshaped fruit and kills trees over the course of a couple of years. In recent years, citrus greening
has been spread by an insect called the Asian citrus psyllid. Citrus canker, on the other hand, was
widely spread throughout the southern portion of the state from the winds of the 2004 hurricanes.
In 2006, there were 40,191 acres within the County dedicated to growing citrus. At that time, there
were also 12 packing houses within the County. Due to the spreading of citrus canker and citrus
greening, it is expected that citrus acreage and the number of packing houses will decline even
further.
Community Development Department Indian River County 19
Table 5.12: Indian River County Income Levels
Year
Median Household
Income
% Change
Per Capita % Change
Income
2006
$55,500
$55,817
2007
$54,100
-2.52%
$59,419 6.45%
2008
$57,000 1
5.36%
NA
2009
$58,300
2.28%
NA
NA = Not Available
Source: United States Department of Commerce, Bureau of Economic Analysis, Regional Economic Information System (REIS), 1969-2007,
Internet site ligp://www.bea.gov/regional/reis/default.cfm?selTable=CAI-3§ion=2 (accessed December 28, 2009)
As defined, per capita income is the mean average income computed for every man, woman, and
child in a particular area. It is derived by dividing the total income of a particular area by the total
population in that area. Table 5.12 shows that between 2006 and 2007 the county's per capita
income level increased by 6.45%.
In Indian River County, retail and service establishments benefit from the high per capita income
and high median household income levels. Generally, higher income levels enhance economic
development by increasing the potential for more retail sales and higher value services.
Economic Development Trends
Citrus Industry
In recent years, the County's citrus industry has suffered significant losses due to the spreading of
citrus canker and citrus greening. While citrus canker is a bacterial disease that causes premature
leaf and fruit drop, citrus greening is a bacterial disease that causes citrus trees to produce bitter
misshaped fruit and kills trees over the course of a couple of years. In recent years, citrus greening
has been spread by an insect called the Asian citrus psyllid. Citrus canker, on the other hand, was
widely spread throughout the southern portion of the state from the winds of the 2004 hurricanes.
In 2006, there were 40,191 acres within the County dedicated to growing citrus. At that time, there
were also 12 packing houses within the County. Due to the spreading of citrus canker and citrus
greening, it is expected that citrus acreage and the number of packing houses will decline even
further.
Community Development Department Indian River County 19
Comprehensive Plan Economic Development Element
Building Permit Activity
Table 5.13 displays building permit activity in the unincorporated part of Indian River County for
the years 2006 to 2008. Compared to the total number of residential units permitted in 2006, the
total number of residential units permitted in 2007 declined by 62.77%. Total permitted
commercial/industrial square footage also decreased from 2006 to 2007.
Table 5.13: Unincorporated Indian River County Building Permit Activity (2006 - 2008)
2006
2007
2008
Classification
#
#
% Change
# o
/o Change
Single -Family Units
2,415
965
-60.04%
532
-44.87%
Multi -Family Units
180
11
-93.89%
36
227.27%
Mobile Home Setups
118 replaced
34 replaced
9 replaced
-58.33%
5 new
2 new
-70.73%
6 new
Total Residential Units and
Mobile Home Setups
2,718
19012
-62.77%
583
-42.39%
Commercial/Industrial Sq. ft.
350,058
-25.97%
259,156
329,676
27.21%
Source: Indian River County Building Department.
From 2007 to 2008, total residential building permit activity decreased by 42.39%. This decrease
was primarily associated with a 44.87% reduction in the number of permits for Single Family
residential units. While the number of multi -family units permitted increased by 227.27% from
2007 to 2008, all of those multi -family permits have since expired. As a result, 0 multi -family units
permitted in 2008 have actually been constructed.
Although total permitted commercial/industrial square footage increased by 27.21 % from 2007 to
2008, this increase is relatively minor in scale and consisted of permits issued for retail facilities (i.e.
drug stores, gas station, hotels), office businesses (i.e. doctors offices), and nonprofit organizations
(i.e. churches, group homes).
In 2008, single-family residential building permits comprised 79.11% of the value of all building
permits issued for the unincorporated part of the county. As shown in table 5.14, the estimated
construction cost represented by single family residential building permits totaled $162,440,218 in
2008. At the same time, the value of commercial building permits in unincorporated Indian River
County was $34,264,863. Figure 5.5 provides a graphic representation of 2008 building cost
estimates in the unincorporated portion of Indian River County.
Community Development Department Indian River County 20
Comprehensive Plan Economic Development Element
Table 5.14: Unincorporated Indian River County Building Permit Estimated Values (2008)
Classification
Estimated Cost
Single Family Residential
$162,440,218.65
Multi -family Residential
$1,360,366.68
Public Buildings
$0.00
Commercial
$34,264,863.56
Others
$7,263,931.16
Totals
$205,329,380.05
Source: Indian River County Building Department.
Figure 5.5: Unincorporated Indian River County Estimated
$180,000,000
Building Permit Values (2008)
$160,000,000
$140,000,000
$120,000,000
$100,000,000
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$0
❑ Singel Family Residential ■ Multi -family Residential ❑ Public Buildings
® Commercial m Others
Real Estate Market
Through its twenty-year time horizon, of the Indian River County Comprehensive Plan designates an
adequate amount of land for residential, commercial and industrial development. While residentially
designated land is located throughout the county's urban service area, the comprehensive plan
divides commercial/industrial land into a total of 34 CA nodes.
Located along major roadways, the county's commercial/industrial nodes all have access to
centralized water and sewer services. Combined with adequate transportation facilities and other
Community Development Department Indian River County 21
Comprehensive Plan Economic Development Element
infrastructure components, the availability of water and sewer services makes those nodes
developable for all types of commercial/industrial uses. As shown in Table 5.15, the county's
commercial/industrial nodes comprise 5,537.7 acres, of which 2,376.84 acres are developed.
With more than 2,100 acres of undeveloped land in the county's commercial/industrial nodes, there
is more than enough commercial/industrial property to accommodate demand through the 20 year
time horizon of the plan. Besides those 2,100 + acres, additional commercial/industrial land is
located within the municipalities.
Table 5.15: 2007 Indian River County Com mercial/Industrial Nodes
Node Location
Node
Acreage
(2007)
Node
Developed
Acreage 2007)
Percent
Developed
2007
Remaining
Acreage
(2007
U.S. 1 & Roseland Road
135.04
74.298
55.0%
44.33
Gibson Street
14.51
5.88
40.5%
7.58
U.S. 1/ Sebastian City Limits to Schumann Drive
139.76
25.094
18.0%
81.9
U.S. 1/ Schumann Drive to Breezy Village
136.22
86.27
63.3%
26.74
U.S. 1 & C.R. 510 (north)
283.27
74.65
26.4%
95.37
U.S. 1/ C.R. 510 to Hobart Road
180.77
67.215
37.2%
76.47
C.R. 510 & S.R. AIA
16.19
15.25
94.2%
0.93
C.R. 510 & 62nd Avenue
5.35
2.087
39.0%
2.08
C.R. 512 & C.R. 510
42.16
1.091
2.6%
2.07
I-95 & C.R. 512
274.87
96.71
35.2%
170.55
U.S. 1 / 77th Street to 69th Street
192.44
72.84
379%
92.84
U.S. 1/ 69th Street to 57th Street
90.63
42.34
46.7%
23
U.S. 1/ 57th Street to 49th Street
187.75
54.62
29.1%
97.76
U.S. 1/ 49th Street to 38th Lane
161.34
91.57
56.8%
48.29
U.S. 1 & 37th Street/ Medical Node
452.47
217.28
48.0%
107.85
U.S. 1/ Vero Beach City Limits to 8th Street
217.27
194.61
89.6%
15.56
U.S. 1/ 8th Street to 1st Street S.W.
188.06
134.31
71.4%
44.04
U.S. 1/ 1st Street S.W. to 9th Street S.W.
116.04
66.222
57.1%
37.09
U.S. 1/ Oslo Road to 17th Street S.W.
58.94
34.976
59.3%
14.31
U.S. 1/ 17th street S.W. to S. County Line
39.11
19.74
50.5%
17.71
Grand Harbor
31.85
0
0.0%
1.48
Gifford
498.61
174.65
35.0%
261.95
S.R. 60 & 58th Avenue
329.91
257.42
78.0%
55.7
S.R. 60 & I-95
866.65
314.67
36.3%
524.67
Oslo Road & 27th Avenue
61.53
29.276
47.6%
23.98
Oslo Road & 43rd Avenue
90.16
49.68
55.1%
22.78
43rd Avenue & 1st Street S.W.
17.61
12.134
68.9%
2.42
Oslo Road & 74th Avenue
558.74
88.032
15.8%
194.41
Oslo Road
126.33
58.088
46.0%
42.76
Moorings
10.08
7.496
74.4%
0
Roseland Neighborhood
1.77
1.77
100.0%
0
S.R. 60 & 66th Avenue Neighborhood
2.72
2.72
100.0%
0
S.R. 60 & 74th Avenue
2.83
2.83
100.0%
0
County Line & 27th Avenue
6.72
1.016
15.1%
1.31
Total
5,537.70
2,376.84
2,137.93
Community Development Department Indian River County 22
Comprehensive Plan Economic Development Element
• Industrial/Warehouse Properties
Within the County's commercial/industrial nodes and within the municipalities, there are a number
of developed general industrial and warehouse areas. The map on the next page depicts the locations
of major developed industrial/warehouse areas. As shown, there are many developed
industrial/commercial properties along U.S 1 and along the Florida East Coast Railroad.
Historically, these were the two main transportation facilities that existed within the County.
There are also concentrations of developed industrial/warehousing properties throughout the County.
Those concentrations include, but are not limited to, the Vero Beach Airport Business Park, an area
along 41St and 45th Street, an area east of 5 8th Avenue and west of 43rd Avenue, an area near the I-95
and CR 512 interchange, and an area near the I-95 and S.R. 60 interchange.
Even with the amount of developed industrial land, there is a scarcity of vacant, ready -to -occupy
industrial building space in Indian River County. Such space, particularly in the 10,000 to 20,000
square foot range, is important for small companies that are planning to relocate. Those small
companies, consisting of 10 to 50 employees, are the type of firms that tend to locate in Indian River
County.
Community Development Department Indian River County 23
Comprehensive Plan Economic Development Element
Industrial/Warehousing Properties
Indian River County, Florida
d
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Community Development Department Indian River County 24
Comprehensive Plan Economic Development Element
• Hospital/Medical Properties
In addition to business/industrial parks, the County contains two hospitals with developing medical
areas surrounding them. The two hospitals within the County are the Indian River Medical Center
and the Sebastian River Medical Center.
Located at the north end of the County just north of the Roseland Road/U.S. 1 intersection, the
Sebastian River Medical Center is a 129 bed general medical/surgical hospital. It is part of the
County's U.S. 1 and Roseland Road commercial/industrial node. In 2006, that node was 55%
developed with commercial uses. Overall, there is an opportunity for additional commercial and
medical growth in this node.
The Indian River Medical Center is a 335 bed not for profit hospital located on 37th Street between
U.S. Highway 1 and Indian River Boulevard. In 2006, the hospital opened a new heart center
affiliated with the Duke University Health System, a world leader in cardiac care. The hospital is
part of County's U.S. 1 & 37th Street Medical commercial/industrial node. In 2006, that node was
48% developed with commercial and medical uses.
Development Regulations
The principal land development regulation which affects economic development is the county's
Comprehensive Plan. Together, the plan's future land use, transportation, infrastructure, and capital
improvements elements all impact the economic future of the county.
Starting in 1985, state law mandated that all development be consistent with local government
comprehensive plans. This shifted the emphasis of the development management process from
zoning to the Comprehensive Plan. In addition, several other changes occurred in the process. One
of the most important was that plan amendments were limited to twice a year. Another was the
requirement for local governments to control sprawl. According to state requirements, each plan
must include an allocation of land for a reasonable period in the future. That land was then to be
included in the development of the plan.
To implement its comprehensive plan, the county adopted a set of land development regulations
(LDRs). These LDRs are the basis of the county's project review and permitting systems. As
structured, the county's permitting process is automated from the initial application through
permitting and certificate of occupancy.
As part of its regulations, the County has eight separate impact fees that it charges to new
development. Those impact fees are for Emergency Services, Correctional Facilities, Public
Buildings, Law Enforcement, Libraries, Solid Waste, Parks and Recreation, Public Education, and
Traffic. Total impact fees for those eight categories range from $7,519 to $10,195 for a single
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Comprehensive Plan Economic Development Element
family home, depending upon size. Impact fees are also required for various commercial and
industrial uses. Library, School, and Park and Recreation impact fees do not apply to nonresidential
uses. Currently, five of the county's eight impact fees are suspended to encourage construction and
economic development.
Water and sewer impact fees are established in a separate ordinance. While water impact fees are
$1,300 for each equivalent residential unit, sewer impact fees are $2,796 for each equivalent
residential unit. Deposits are also based on equivalent residential units.
Within the City of Vero Beach, electric impact fees apply. For residential properties, electric impact
fees are $550 per dwelling unit. For commercial/industrial properties, electric impact fees start at
$550 per unit and increase depending on the estimated electricity demand of the proposed land use.
Separate from impact fees, the County also has a prorated interest fee that is used to finance the
widening of a portion of State Road 60. The interest fee is being charged to all developments that
impact SR 60 between 66th Avenue and I-95.
Economic Development Initiatives
• Target Industries
Currently, the Board of County Commissioners offers various financial incentives to target
industries to encourage those industries to locate to Indian River County or to expand businesses
already in the county. The County's target industries list includes manufacturing and other basic
industries. Generally, the target industries are businesses that pay wages near or above the county's
annual average wage. By targeting industries that pay higher than average wages, the County intends
to improve the standard of living and employment opportunities of residents of the county.
In 2006, there were 11,188 jobs within the County's targeted industries. Of those target industries,
the fastest growing are service industries. While service industries have been growing, only minimal
gains have been made in basic/contributory industries (industries that bring money into the local
economy by selling their products outside of the county) such as Fabricated Metal Products
Manufacturing, Wood Products Manufacturing, Non-metallic Mineral Product Manufacturing, and
Plastics and Rubber Products Manufacturing.
Currently, the county offers financial incentives to target industries as follows:
• Qualified Target Industry Tax Refund Program
The Qualified Target Industry Tax Refund Program, administered through Enterprise Florida,
provides a tax refund of up to $8,000 per new job if the business is located in the County's Enterprise
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Comprehensive Plan Economic Development Element
Zone or up to $5,000 per new job if the business is located within the County, but outside the
Enterprise Zone. To be eligible, the business must create at least ten new jobs in any of the state's
target industries. Locally, the county provides a 20% match of the total taxes refunded. This
program is designed to create high value-added jobs and encourage the growth of corporate
headquarters and other targeted high value industries.
• Local Jobs Grant Program
This program can apply to a company that creates at least five jobs in the county's target industries.
The amount of the grant is based on the number of jobs created and the average salary of those jobs.
Each grant application is reviewed by the Board of County Commissioners. The County provides
$3,000 for each new position created that pays from 75% to 99.99% of the County's average annual
wage; $5,000 for each new position created that pays from 100% to 149.99% of the County's
average annual wage; and $7,000 for each new position created that pays 150% or more of the
County's average annual wage. In addition, a 10% bonus is provided to businesses that locate
within the City of Vero Beach/Indian River County Enterprise Zone.
• Impact Fee Financing Program
An impact fee financing program is another incentive offered by Indian River County to encourage
development. This program allows financing of impact fees for businesses listed on the county's
target industries list.
• Waiving County Utility Deposits
Another incentive offered by Indian River County relates to county utility deposits. With this
incentive, the county will guarantee county utility (county water and/or sewer) deposits of up to
$10,000 for businesses meeting certain requirements. Instead of the business paying the deposit
amounts up front, the county will pledge funds that can be drawn upon if necessary.
• Special Incentives Granted by the Board Of County Commissioners
The Board of County Commissioners has flexibility to grant special incentives on a case by case
basis, based on job creation, wage levels and increased property taxes. Incentives could include
the purchase or lease of land, infrastructure improvements, payment or financing of county
impact fees, or cash incentives.
In addition to incentives offered by the Board of County Commissioners, there are incentive
programs offered by Workforce Solutions that can be accessed by employers relocating to the county
or existing employers within the county that are expanding. Those incentive programs are as
follows:
Community Development Department Indian River County 27
Comprehensive Plan Economic Development Element
o Local Training/Grant Assistance
Workforce Solutions will provide on-the-job training to employers to offset the costs associated
with new hires. The Grant serves as a cost effective way for local employers to hire quality
applicants by reimbursing up to 50% of the employee's salary during their training period.
o Employed Worker Training Grants
Workforce Solutions will provide grants to reimburse employers for up to 50% of direct training
costs to train current employees in new skills that may lead to greater productivity. The
employer chooses the training that meets company needs. Grants may be accessed through
Workforce Solutions.
o Recruitment/Assessment Services
At no cost, Workforce Solutions will assist businesses in finding qualified candidates who are
trained and equipped with the right skills to fill their positions. Professional Recruiters
efficiently recruit, screen and refer only qualified applicants to open positions.
Enterprise Zone
In 2005, Indian River County and the City of Vero Beach jointly established an Enterprise Zone
encompassing properties in and around the City of Vero Beach Municipal Airport and properties
within the Gifford Community (see map). An Enterprise Zone is an area designation approved by
the state to encourage new economic growth and investment in distressed areas. The state
accomplishes this in part by providing tax incentives to residents and businesses within Enterprise
Zones. Those tax incentives include:
■ Job Tax Credit (Sales Tax and Use Tax Credit or Corporate Income Tax Credit)
■ Sales Tax Refund (Refund of Sales Tax Paid on Certain Business Equipment/Materials)
■ Property Tax Credit (Applied to Corporate Income Tax)
■ Electrical Energy Sales Tax Exemption (Sales Tax Exemption on Electrical Energy)
■ Community Contribution Tax Credit (Florida Corporate Income Tax, Insurance Premium
Tax, or Sales Tax Refund).
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Comprehensive Plan Economic Development Element
With the Enterprise Zone, Indian River County and the City of Vero Beach have the ability to offer
state sponsored incentives to local companies. Those incentives are another tool that the County and
City of Vero Beach have at their disposal to help retain and expand existing businesses and help to
attract new businesses. Between October 1, 2005 (start of reporting period for the beginning of the
City of Vero Beach/Indian River County Enterprise Zone) and September 30, 2007, 10 Building
Material Sales Tax Refund applications and 25 Business Equipment Sales Tax Refund applications
were submitted to the state. The amount of money invested in Building Materials and Business
Equipment and the total amount of refunds requested were as follows:
$29,936.00 in Building Material Sales Tax Refunds were requested for businesses investing a
total of $1,500,166.00 in Building Materials used in the Enterprise Zone; and
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33,248.00 in Business Equipment Sales Tax Refunds were requested for a total investment of
$615,474.00 in Business Equipment.
Research Coast
In the late 1990's, a Memorandum of Understanding (MOU) was signed by the primary economic
development organizations in Martin, St. Lucie, Okeechobee and Indian River Counties to
coordinate economic development efforts as a region (Okeechobee County has since reorganized its
economic development efforts and opted out of the MOU). That Memorandum of Understanding set
the foundation for Martin County, St. Lucie County, and Indian River County to form the "Florida
Research Coast Economic Development Coalition" to better promote the economic development
objectives of the three counties.
Currently, the Business Development Board of Martin County, the Indian River County Chamber of
Commerce, the Economic Development Council of St. Lucie County and Workforce Solutions are
sharing resources to promote/advertise the three counties as a cohesive region. The research coast
initiative is building upon recent efforts of all three counties and Workforce Solutions to recruit
companies involved with the Life Science Industries. In fact, several life science companies have
already located to St. Lucie County.
One of those life science companies is Torrey Pines Institute for Molecular Studies, a California
based biotech company. Recently, Torrey Pines moved into a 100,000 square foot life sciences
research facility on 20 acres of land in the Town of Tradition in St. Lucie County. More recently,
Oregon Health and Science University's Vaccine and Gene Therapy Institute (VGTI) moved into
temporary facilities within the Torrey Pines Institute for Molecular Studies, while VGTI is building
its facility. Finally, the Mann Research Center is locating on a 22 -acre site within the Town of
Tradition.
The life science companies locating to St. Lucie County were attracted there through a coordinated
effort on the part of the business community along with state and local governments. For instance,
Torrey Pines received a combined state and local incentive package of $88.5 million, plus 20 acres
of donated land from Tradition developer Core Communities. That financial package requires
Torrey Pines to provide 189 jobs within ten years. This equates to a direct financial incentive of
$468,253.97 per job.
Identification of the County's Constraints and Potentials
As with any area, Indian River County has economic development constraints and economic
development potentials. Generally, a constraint is a defined characteristic of an area that in some
way hinders economic development. Conversely, a potential is a characteristic that supports or
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encourages economic development. Focusing on the constraints and potentials provides a
foundation for the development of objectives and policies relating to economic development.
Central to a community's ability to attract industry and enhance economic development is the
perception that outside firms have of that community. According to "An Economic Development
Toolbox: Strategies and Methods", published by the American Planning Association and written by
Terry Morre, Stuart Mech and James Ebenhoh, companies consider a number of criteria when
deciding to locate to a community. Those criteria include:
■ Access to , quality of, quantity of, and cost of needed resources and supplies;
■ Availability of development ready land and/or buildings (appropriately zoned and supplied
with utilities and services);
■ Cost and productivity of labor (one of the most important factors);
■ Location relative to supplies and markets (less important for knowledge based industries such
as the software development industry);
■ Availability of public and private infrastructure (roads, water, sewer, airports, cargo facilities,
energy systems, and telecommunications);
■ Presence of and existing business cluster (available labor pool and access to suppliers that
service the cluster);
■ Amenities and other quality of life factors (good schools, clean environment, affordable and
appropriate housing, and diverse and exciting culture); and
■ Government policies (regulations, taxes, and incentives).
In Indian River County, economic development constraints and potentials can affect each of the
factors listed. Therefore, identifying constraints and potentials will allow the county to improve the
perception that outside firms develop of Indian River County. Generally, the county's economic
development constraints and potentials range from the county's geography to its infrastructure.
Geography
Climate
Overall, Indian River County's climate is an economic development potential. While energy costs
for firms in Florida are similar to energy costs incurred in other parts of the U.S, the county's
tropical climate is a lifestyle attraction that can afford corporate location decisions. Consequently,
a location with a year-round tropical climate can be a deciding factor that will influence decision
makers to relocate a company to Indian River County.
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Topography
Unlike some areas, Indian River County's topography is not characterized by steep slopes or other
development constraints. While the flat topography requires various drainage improvements, this
does not constitute an economic development constraint.
Demographic Characteristics
Quality of Life
The quality of life in a community is an important consideration for companies planning to relocate.
Although the quality of life in Indian River County is excellent, certain constraints do exist. One
such constraint is the high seasonal unemployment rate of the county. This high seasonal
unemployment rate, which increases the average annual unemployment rate, can create the
impression that Indian River County's economy is not stable.
Generally, Indian River County is perceived as having an exceptional quality of life, a potential for
economic development. Historically, the county's position has been to guide growth in order to
avoid the problems associated with rapid urbanization. This has resulted in low residential densities,
large amounts of open space, protected environmental land, and an adequate infrastructure to support
development within the county.
Being a coastal area, Indian River County has many recreational amenities that provide opportunities
for boating, swimming, and fishing. The county's waterfront areas also provide residents with an
aesthetically pleasing place to live.
With a large public park system and a quality cultural environment, the county has diverse
opportunities for an area of its size. These characteristics indicate that there is a high quality of life
in Indian River County. This constitutes a potential for economic development in the county.
Population Growth
In the past, much of the population growth in Indian River County has occurred in the age groups 45
years and above, including retirees. So while the county's population has grown, this growth has
resulted in an older population with a lower percentage of the population in the workforce. Since
having a large and diversified labor force is necessary to attract new industry, the growth in the older
age cohorts can constitute an economic development constraint for the county.
There are, however, economic development benefits from retirees moving to the County. Because
many of those retirees have high incomes, these new residents have more money to spend locally.
That benefits various local businesses, including retail and service establishments.
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As Indian River County's population increases, the local consumer base expands and that creates
economic opportunities for new business establishments to locate in Indian River County. These
new business establishments produce more activity and enhance the area's economy.
Education
Within the region, there are various colleges, universities, and technical institutes that provide
education and research opportunities to county residents and businesses. Several of these higher
education institutions offer programs within Indian River County in which students can earn credits
toward an associates, bachelors, or masters degree. In fact, institutions of higher learning, such as
Indian River State College and Florida Atlantic University, are now offering classes and degrees in
fields that are at the forefront of technology and other similar fields. These education opportunities
are economic potentials in that they can improve the quality of Indian River County's labor force.
Another economic development potential is the excellent primary and secondary school system in
the county. That system provides a high quality education and an above national performance
ranking. Additionally, Indian River State College and the Indian River County School District
provide adult educational classes and occupational training for county residents.
Recently, Indian River State College expanded its Mueller Center campus and is planning to add
additional campus entrances and buildings/facilities. Those new educational facilities and future
planned expansions will have a positive impact on the local economy.
In order to be competitive in a global market, the county must continuously evaluate its education
offerings and seek to improve upon them. Going forward, the county should coordinate with the
school district, charter schools, and private schools to ensure that they are providing a curriculum
focused on science, technology, engineering, and mathematics. In addition, the County should
coordinate with Workforce Solutions and the Indian River County Chamber of Commerce to
regularly identify unmet educational needs for targeted industries and work with education providers
to ensure that those needs are met.
Housing
For economic development to occur, an area must have an adequate stock of affordable housing.
During the recent housing boom, however, the county did not have a sufficient supply of affordable
housing. That situation, however, has now changed.
Currently, there is an excess amount of housing within the county. That excess is due to
overbuilding associated with the housing boom between approximately 2003 and 2006. As a result,
there is a significant number of affordable residential rental units and affordable homes for purchase
in the county. On the other hand, the collapse of the housing market has made it difficult for people
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to obtain financing for new homes and made it difficult for people to sell their existing homes if they
desire to relocate. While the increase in housing affordability is an economic development potential
for the county, the financing issue constitutes a constraint.
Market Relationships/Access to Markets
One of the county's economic development constraints is its distance from large, economically
diverse metropolitan areas. Because of larger consumer markets and economic linkages, major
metropolitan areas provide economic development benefits for adjacent non -metropolitan counties.
Compared to other communities, such as Martin County, that are located adjacent to highly
populated urban markets, Indian River County is at a competitive disadvantage. Also, Indian River
County is not located near resources and supplies that might be utilized within various types of
industries (manufacturing, electronics, automotive, etc.) and does not have well established industry
clusters.
Transportation
In terms of transportation, Indian River County has various advantages. With its location at the
intersection of two major transportation routes, SR 60 and I-95, the county has good roadway
linkages both north/south and east/west. This is an economic potential for the county.
Within the county, the current road system operates at or above established levels of service. This is
important because highway accessibility has been ranked as an important site location factor by the
American Planning Association.
While public rail freight service is available in Indian River County, AMTRAK passenger service is
not available in the county. Although this is not likely to be a major factor in the short term, the lack
of passenger service may be a more important constraint in the long term.
In terms of aviation, Indian River County has challenges. While the City of Vero Beach has an
excellent airport, the lack of scheduled commercial air service at the Vero Beach Airport is an
economic development constraint. Consequently, the closest scheduled commercial air service for
county residents and businesses is the Melbourne International Airport, approximately 38 miles to
the north.
Through Indian River Transit's GoLine, the county provides limited mass transit services within the
county. This mass transit service is growing and providing more service each year; however, it does
not have headways as low as mass transit services in large metropolitan areas. This can be seen as a
constraint in that workers have to own a car or otherwise rely on someone with a car to get to work.
The intercoastal waterway provides Indian River County with a navigable waterway.
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Comprehensive Plan Economic Development Element
Access to Resources
In Indian River County, there are adequate energy resources to accommodate economic
development. In fact, Florida Power and Light offers certain economic incentives, such as off-peak
hour pricing and an Economic Rider, for businesses. Natural gas is also available in Indian River
County.
According to the American Planning Association, water supply and the availability of necessary
support services are factors that a firm considers when making relocation decisions. In Indian River
County, there is adequate water and sewer capacity to support any size development. In addition,
reuse water is available for cooling, irrigation and other appropriate purposes.
Tourism
Generally, tourism is considered to be a maturing market in Indian River County. Some of the
constraints affecting tourism include the erosion of county beaches and the lack of nearby scheduled
commercial air service.
Overall, tourism is important to the county's economy. It generates a substantial amount of revenue
without a commensurate demand for services.
In the past, the county has been successful at international marketing. This international marketing
has focused on eco -tourism, cultural tourism and other niche markets. In the future, cross -selling
tourism and economic development can increase both markets.
With more travelers seeking vacations that promise something beyond a prepackaged experience, the
county has been marketing cultural tourism. These tourists are more likely to seek out an art
museum or a music festival than a shopping district or a theme park. Cultural amenities of Indian
River County, such as the Riverside Theatre, the Center for the Arts, the McLarty Treasure Museum,
and the Environmental Learning Center, are important contributors to the continued development of
the county's tourism industry.
In Indian River County, tourist amenities that offer economic potential include the Minor League
Baseball facility (former Los Angeles Dodgers Spring Training Facility), the North County Pool,
and the shooting range. Each of these amenities offers something that is not available in neighboring
counties. The Minor League baseball facility supports various sport tournaments and camps and
also has a large conference center. The North County pool hosts swimming events such as the State
of Florida Special Olympics Aquatics Championship.
Among the most important tourism related amenities in the county is the beaches. To protect the
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Comprehensive Plan Economic Development Element
beaches and enhance tourism, the County has adopted a Beach Preservation Plan. That plan is used
as a guide to make improvements to area beaches. These beach preservation activities have an
overall beneficial effect on housing in the county.
Along with preserving beaches, the County and other agencies such as the St. Johns River Water
Management District have actively been preserving natural areas throughout the County. This large
amount of preserved environmentally sensitive land is an economic development potential in that the
preservation attracts tourists interested in nature and outdoor activities. Going forward, the County
should continue to invest in preserving its natural areas and providing public access to those natural
areas. Further, the County's tourism policies should focus on marketing the various amenities,
particularly the ecotourism amenities, that exist within the County.
Economic Characteristics
Labor Force/Employment/Unemployment Trends
Because the County does not have major industry clusters, it lacks a large supply of qualified labor
for potential industries.
With its labor force concentrated in service industries and agricultural industries, the county's
employment levels are seasonal, rising in the winter and declining in the summer. This produces
high unemployment rates during summer months. Seasonal employment also affects the ability of
individuals to earn a year round salary. Because of the seasonality of employment within the County
and because of the generally overall high unemployment, Indian River County should when
possible, give preference to hiring people/companies who live in or have offices in the County or
adjacent Counties.
Generally, economic development incentives offered by the Board of County Commissioners have
helped to retain existing industries and attract new industries that offer year round employment.
These new and expanding industries have enhanced the local economy as well as improved
employment opportunities for county residents.
Wage Rates
Overall, the County's wage rate is not a constraint. While Indian River County's wage rates are less
than Brevard County's and Martin County's, they are higher than St. Lucie County's and
Okeechobee County's. Although lower wage rates may create the perception that the county has a
lower skilled or less educated labor force, higher wage rates may create the perception that the
County is an expensive place to live and establish a business.
In industrial relocation decisions, labor costs have become a significant factor. Along with the
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Comprehensive Plan Economic Development Element
southern U.S. in general, Indian River County has lower labor costs than other major urbanized areas
in the country. Therefore, labor costs in Indian River County is an advantage regarding economic
development.
Income
Generally, the county's high income levels do not reflect the actual economic conditions of all
residents in Indian River County. Though the county's per capita income is high, some areas within
the county have a low per capita income and a high percentage of persons below the poverty level.
Going forward, the County's policies should be to recruit industries that pay wages near or above the
Countywide average wage rate.
Economic Development Trends
Citrus Industry
Although citrus canker and citrus greening are affecting groves in the county, it is estimated that the
citrus industry will remain profitable in the future, although infected trees will have to be removed
and replaced on a reoccurring basis until cures can be found for the two diseases. As the two
diseases spread and as infected trees are removed, production will decline. This will also result in a
reduction of citrus jobs and less money coming into the county. This will also have an impact on
other businesses within the County, in that less money will be spent on goods and services in the
County by the citrus industry and citrus industry employees.
In the future, citrus grove owners will continue to face pressure for developing their land with
alternative uses and permanently removing the land from agricultural production. With the decline
in the citrus industry, farmers will need to evaluate the land dedicated to citrus and consider other
allowed uses for citrus property and how those alternatives will impact the County. This might
include growing new types of crops or developing solar farms.
Going forward, the County's policies should support the production of farm products that can be
exported from the County. This may include growing feedstocks for bio -fuel production and
establishing bio -fuel processing plants.
Land Availability/Suitability
Overall, the County has attractive qualities that certain businesses look for. Among those qualities is
the availability of a supply of development ready land.
As structured, the county's Comprehensive Plan allocates sufficient land for residential, commercial,
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and industrial development. Generally, all of this land has access to the county water and sewer
system, adequate transportation facilities, and other urban services.
Building Availability/Suitability
On economic development constraint is a lack of available industrial building space in Indian River
County for new industries that want to relocate to the county. While there is sufficient available
land for a new or existing business to build a structure to fit their needs, there are few vacant
industrial buildings available for new businesses to occupy immediately. In the future, the county
should encourage developers to build spec industrial buildings that can accommodate economic
development prospects.
Industrial/Warehouse Properties
Currently, the county has a supply of smaller industrial sites within industrial areas and business
parks. That can be considered to be an economic potential. Within these areas and parks, small
businesses can build facilities relatively quickly. This is because approved and platted
industrial/business parks have constructed roads, installed utilities and constructed retention areas.
On the flip side, challenges will exist if a new large scale industrial user desires to locate to the
County. Currently, there are a limited number of large development ready lots available. In
addition, tall industrial buildings are limited by County Land Development Regulations. These are
constraints that have the potential to exclude certain new industrial uses. For instance, the recently
constructed CVS distribution center could not be built on another site within the County because of
height regulations.
Going forward, the County's policies should address the need for additional industrialibusiness parks
that can accommodate large scale industrial development. Further, County policies should
accommodate large scale industrial uses. In general, the best locations for large
industrial/warehouse buildings are in close proximity to the County's Interstate 95 interchanges.
This is because industrial uses require easy access to major transportation routes. Also, these areas
are also somewhat removed from residential areas. Because uses within
industrial/business/technology parks can vary, the county should encourage
industrial/business/technology park developers to design future parks as planned development
projects, whereby park uses can be regulated in such a way as to make the parks attractive to
potential end users.
Hospital Medical Areas
While it is generally acknowledged that manufacturing uses bring quality high paying jobs to the
community, the medical profession also brings high paying jobs. Similar to industrial,
manufacturing, and research and development jobs, medical jobs can, in part, bring money into the
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Comprehensive Plan Economic Development Element
community from outside areas and can also help to retain money within the County. That money
can then turn over in the local economy a number of times as it is spent and re -spent on food,
products, and services. When visitors come to the County for medical services or when residents
use insurance for medical procedures, money is brought into the local economy via the medical
profession. Money is also retained in the local economy when residents use one of the existing
hospitals or surrounding doctor's offices for medical procedures, as opposed to traveling to other
hospitals outside of the area.
Encouraging the development of medical uses within the County is an excellent way to build and
retain jobs. Where possible, the County should assist the medical sector in its expansion plans.
Because of the similarity between the medical and biotech industries and the regional efforts to
recruit bio -tech companies, the County should have a policy to market the existing hospital/medical
areas to potential biotech industries.
Development Regulations
Compared to other communities, the County's land development regulations are not considered to be
an economic development constraint. Through its review processes, the County has established
mechanisms to assist development projects. This assistance is provided through the Planner of the
Day office and regular pre -application conferences are held that are designed to provide information
to potential businesses up front. Also, the county has regulations in place that allow certain
development projects to be expedited (based on size and type of use). Qualifying developments can
be reviewed and approved at the staff level rather than having to be reviewed by the Planning and
Zoning Commission.
For economic development purposes, the county Planning Director is the designated staff contact.
In that capacity, he helps targeted businesses through the application and review processes, assisting
if there is a slow down in the review process.
Going forward, the County's policy should be to review and evaluate the LDR's on an annual basis to
identify possible economic development impediments and to remove those impediments when
possible.
Economic Development Initiatives
Target Industries
In the past, the county has recruited target industries as one means of enhancing economic
development. Although significant numbers of new jobs have not been created through this strategy,
the county was successful in retaining Piper Aircraft when Piper considered relocating.
Community Development Department Indian River County 39
Comprehensive Plan Economic Development Element
In the future, the County should continue to recruit industries that will provide quality jobs for area
residents, while focusing on new industries that will complement existing established industries
within the county and within adjacent counties. While the County's current target industry
incentives and marketing activities should be continued, new economic recruitment methods should
be reviewed and used by the County as appropriate. This could include having the Economic
Development Division of the Chamber of Commerce assist economic development prospects by
providing entrepreneurial and management expertise. It could also include, the Economic
Development Division facilitating interactions between venture capitalists, lawyers, scientists,
entrepreneurs and financiers for new product development and new target industries.
• Target Industries List
Historically, manufacturing has been one of the highest paying industrial sectors. Consequently,
manufacturers have been targeted by local jurisdictions for recruitment. In the last decade,
however, manufacturing jobs within the United States have declined.
According to Economic Policy Institute Paper #149, written by Josh Bivens, manufacturing within
this country is at a competitive disadvantage internationally. As a result, the country has been
"hemorrhaging" manufacturing jobs, even while the demand for manufactured goods has been
increasing. The paper further states that, between 1998 and 2003, the country lost more than
3,000,000 manufacturing jobs to other countries.
With the globalization that is occurring and the loss of manufacturing jobs, it is important that the
County focus its economic development efforts on new and existing industries that provide a
competitive advantage, while acknowledging and understanding that there are larger economic
forces at play that affect the community and this country.
Both the Indian River County Chamber of Commerce's Economic Development Division and the
County's Economic Development Council have recognized this changing economic environment
and have worked to refine the county's target industry list. In so doing, the groups concluded that
the County's list of target industries should match the State's Target Industry List. That list
establishes target industries by clusters of similar uses. Those clusters include: Clean Energy, Life
Science, Information Technology, Aviation/Aerospace, Financial/Professional Services,
Manufacturing/Warehousing/ Distribution, Emerging Technologies, and Arts, Entertainment, and
Recreation.
With respect to Indian River County, several of these clusters exist or are developing within the
County or in adjacent counties. While biotechnology clusters are developing in both Palm Beach
County and St Lucie County, an existing aerospace center lies to the north in Brevard County. In
addition, the County currently has several aviation -related industries that can be targeted for growth.
Community Development Department Indian River County 40
Comprehensive Plan Economic Development Element
Going forward, the County should continue to monitor target industries in the County and
surrounding counties. Based on that monitoring, the County should prepare an annual target
industry report that should be provided to the Indian River County Economic Development Council
and to the Indian River County Chamber of Commerce Economic Development Division.
Incentives
In the future, the economic development incentives offered by the county may help attract some new
businesses. Generally, economic development incentives indicate that an area is receptive to
economic growth and development. Going forward, the county should continue to evaluate its
economic incentives on an annual basis and update them as necessary to retain existing target
industries and to attract new target industries. One such update to the County's target industry
incentives that the County should pursue is the establishment of an economic development tax
abatement program. This type of incentive is available from nearby communities that are in direct
competition with the County.
Enterprise Zone
Recently, development has occurred within older platted industrial areas and within relatively new
industrialibusiness parks. As part of their Capital Improvement Programs, the County and City of
Vero Beach should coordinate public infrastructure improvements within the Enterprise Zone so that
there is adequate access, water, and sewer to serve vacant developable commercial/industrial lots.
The County and City should also continue to work together with the Indian River County Chamber
of Commerce to market the Enterprise Zone's benefits to prospective industries.
Research Coast
Because the County is competing in an increasingly competitive global environment, it is important
that the County participate in or otherwise establish regional partnerships with surrounding
jurisdictions, schools, and organizations to work cooperatively toward common economic goals.
Those regional partnerships are necessary because most industries do not look at jurisdictional
boundaries when considering relocating or establishing a new facility. Instead, industries look at
entire regions and the amenities that exist or will exist within those regions.
Even with the successful recruitment of Torrey Pines, the Mann Research Center, and VGTI, it is
unclear at this time how much of an impact the Research Coast effort will have upon Indian River
County. Generally, bio-tech/life science areas take years, sometimes decades, to fully develop. In
the case of Florida's Research Coast, that development is in the infancy stage, with concentration on
branding and name recognition rather than heavy recruitment. With the successful recruitment of
Torrey Pines, the Mann Research center, and VGTI, however, other similar companies and spin-off
companies may locate within the area.
Community Development Department Indian River County 41
Comprehensive Plan Economic Development Element
To capitalize on this effort, Indian River County can position itself as a location for those businesses
that support the life sciences industry. In so doing, the County may be in a position to recruit
potential spinoff companies from the developing life science cluster in St. Lucie County. To do this,
the County should ensure that development ready properties are available for companies that are
recruited. In addition, the County should identify appropriate locations for new business/industrial
parks, provide appropriate infrastructure for those industrial/business parks, and expedite project
reviews for the industrial/business parks and proposed businesses within the industrial/business
parks.
Summary
To improve the standard of living for residents, the County should continue to strengthen and
diversify its employment base so that the local economy is not primarily reliant upon low paying
service oriented industries. To do so, the County should maintain a multifaceted approach to
economic development. This should include:
■ Refining the County's existing targeted industry list to be consistent with the State's target
industry list, which includes the aviation, aerospace, life sciences (biotech), and specialty health
care industries;
■ Providing infrastructure to accommodate a growing population base and to accommodate the
needs of targeted industries;
■ Facilitating the development of large lot industrial parks;
■ Providing appropriately zoned land for development by target industries;
■ Continuing regional cooperation as part of the "Research Coast Initiative";
■ Promoting the assets of the County to CEOs and CFOs of targeted industries;
■ Recognizing the decline in the citrus industry and the need to identify new farm uses for export;
■ Maintaining appropriate economic incentives for key manufacturing and target industries
(financial incentives, expedited permitting, etc.);
■ Marketing the County for tourism;
■ Preserving environmental and cultural assets of the community; and
■ Identifying and stopping any remaining service industry leakages.
Community Development Department Indian River County 42
Comprehensive Plan Economic Development Element
Goal, Objectives, and Policies
GOAL
It is the goal of Indian River County to have balanced and orderly economic growth.
OBJECTIVE 1: Low Unemployment Rate
Through the plan time horizon, the county's average annual unemployment rate will be no more than
one percentage point higher than the State of Florida's average annual unemployment rate as
reported by the Florida Agency for Workforce Innovation, Labor Market Statistics Center, Local
Area Unemployment Statistics Program, in cooperation with the U.S. Department of Labor, Bureau
of Labor Statistics (2007 average annual unemployment rate: Florida = 4.0% and Indian River
County = 5.8%).
Policy 1.1: The Economic Development Division of the Indian River County Chamber of
Commerce and other economic development groups designated by the Board of County
Commissioners shall promote the growth of those industries on the county's target industries list
(Policy 2.5). The Economic Development Division shall determine the methods to be used to
promote the growth of those industries and identify these methods in its annual marketing plan. The
results will be presented to the Economic Development Council on a quarterly basis.
Policy 1.2: On an annual basis, the Economic Development Division of the Indian River County
Chamber of Commerce and other economic development groups designated by the Board of County
Commissioners shall survey local businesses that are included in the county's targeted industries list
and have more than ten employees. The purpose of the survey is to identify opportunities and
problems associated with local businesses, the type of job training and assistance needed by
businesses, businesses willing to expand, businesses considering relocation, and linked businesses.
The Economic Development Division and other economic development groups shall report survey
results to the Economic Development Council at the first meeting of each calendar year.
Policy 1.3: The Economic Development Division of the Indian River County Chamber of
Commerce shall continue to contact businesses, as identified in its marketing plan, to encourage
those businesses to consider Indian River County as a possible location. The county's list of
targeted industries shall be the Economic Development Division's guide for the type of businesses to
contact. On a quarterly basis, the Economic Development Director of the Chamber of Commerce
shall report to the Economic Development Council the number of businesses that were contacted, the
type of businesses that were contacted, the number of persons employed by each of the businesses,
and the result or actions taken from those contacts.
Policy 1.4: The county, the Indian River County Chamber of Commerce, other economic
Community Development Department Indian River County 43
Comprehensive Plan Economic Development Element
development groups designated by the Board of County Commissioners, and the Workforce
Development Board of the Treasure Coast (DBA Workforce Solutions) shall continue to inform
existing and relocating businesses of training programs that are offered by Indian River State
College, local high schools, and other training providers. Representatives from these institutions
shall be invited to provide an annual report to the Economic Development Council summarizing
what type of training assistance was provided to local businesses.
Policy 1.5: As an employer, the county shall advertise job opportunities on the county website.
Policy 1.6: The county shall post request for proposals on DemandStar
(http://www.demandstar.com/) or similar websites. DemandStar is a website where governments list
requests for proposals, bids, and quotes for needed government services.
Policy 1.7: The county shall maintain its existing process of addressing complaints or concerns by
business owners. This involves designating the County Planning Director and the Director of
Economic Development of the Indian River County Chamber of Commerce to act as facilitators.
Both the county and the Chamber of Commerce shall present a report of business complaints and
concerns as well as proposed solutions to the Indian River County Economic Development Council.
Policy 1.8: On an ongoing basis, the county, through the Indian River County Chamber of
Commerce and other economic development groups designated by the Board of County
Commissioners, shall emphasize Indian River County's advantages over other regions as part of
marketing efforts. This will include highlighting the County's low crime rate compared to areas like
South Florida.
Policy 1.9: By March of every year, the Economic Development Division of the Indian River
County Chamber of Commerce shall develop a marketing plan that specifies actions that will be
taken during the next fiscal year to market the county's economic development potential. The
marketing plan shall provide detailed budget information pertaining to any funds that the Chamber
of Commerce is requesting from the Board of County Commissioners for the upcoming fiscal year.
Before the marketing plan and request for funds is submitted to the Board, the plan shall be
presented to and approved by the Economic Development Council.
Polices: The Indian River County Chamber of Commerce and other economic development
groups designated by the Board of County Commissioners shall promote services provided by the
Vero Beach Municipal Airport, the Sebastian Municipal Airport, and the Melbourne International
Airport in their economic development and tourism marketing efforts.
Community Development Department Indian River County 44
Comprehensive Plan Economic Development Element
OBJECTIVE 2: Diversified Economic Growth
Between 2010 and 2015, Indian River County will increase the number of jobs in the county's new
high wage target industries by 1,000.
Policy 2. 1: The County shall focus its industrial/business/technology/research expansion efforts on
attracting and expanding clean, small-scale light manufacturing and assembly industries.
Policy 2.2: The county shall encourage the expansion of existing industries and attraction of new
industries that are within the target industries list (Policy 2.5) by offering the following county
adopted economic development incentives and assistance:
➢ Local Jobs Grant Program;
➢ Traffic, Water, and Sewer Impact Fee Financing;
➢ Utility Deposit Waivers;
➢ Expedited permitting;
➢ Maintenance of sufficient infrastructure capacity (roads, water, sewer);
➢ Provision of Industrial Revenue Bonds;
➢ Provision of job training through Indian River State College;
➢ Provision of workforce training incentives from the Workforce Development Board of the
Treasure Coast (DBA Workforce Solutions);
➢ Assistance with federal or state grant applications (such as Community Development Block
Grants);
➢ State Qualified Target Industry Tax Refund Program; and
➢ Tax Refunds and Tax Credits within the Enterprise Zone.
Policy 2.3: The county planning division shall track the number of jobs in target industries annually
and provide a report to the EDC. The report shall include, but not be limited to, the total number of
jobs by NAICS target industry category, the average wage by each NAICS target industry category,
the percent and numeric change from the prior year for both the total jobs and their average annual
wages. Annual data shall be provided for multiple years.
Policy 2.4: The Indian River County Chamber of Commerce and other economic development
groups designated by the Board of County Commissioners shall provide assistance, as needed, to
companies during the relocation process and report any actions taken to the Economic Development
Council at their regular meetings.
Policy 2.5: The county, in coordination with the Indian River County Chamber of Commerce, shall
establish a list of target industries and evaluate this list annually in order to reflect the current
economic needs of the county as well as the actual marketing results. The following is the list of the
county's target industry clusters:
Community Development Department Indian River County 45
Comprehensive Plan Economic Development Element
Clean Energy industry including but not limited to:
• Solar Energy
• Biomass Energy/Biofuels
• Fuel Cells and Hydrogen
• Ocean Energy
Life Sciences industry including but not limited to:
• Biotechnology
• Medical Device Manufacturing
• Pharmaceuticals
• Health Care
Information Technology industry including but not limited to:
• IT Products/Services
• Software Development
• Modeling/Simulation/Training
• Photonics/Lasers/Optics
• Microelectronics
• Telecommunications
Aviation/Aerospace industry including but not limited to:
• Aviation
• Avionics
• Flight Schools
Financial / Professional Services including but not limited to:
• Corporate/Regional Headquarters
• Research and Development
Manufacturing/Warehouse/Distribution
Emerging Technologies including but not limited to:
• Materials Science
• Nanotechnology
• Marine Science
Arts, Entertainment, Recreation including but not limited to:
• Sports Facilities
• Film Locations
Community Development Department Indian River County 46
Comprehensive Plan Economic Development Element
Post Secondary Public and Private Educational Institutions
Other clean light industries that have average annual wages that support an innovation economy.
To be eligible for local economic incentives, an industry must meet the target industry criteria
established by the state with a focus on those industries that export the majority of products and
services outside of Indian River County (as opposed to strictly areas outside of Florida). Currently,
the target industry criteria are listed in Section 288.106(1)(0), Florida Statutes.
Policy 2.6: The County shall provide for the issuance of Industrial Development Bonds for new
industries.
Policy 2.7: The Economic Development Division of the Indian River County Chamber of Commerce
and other economic development groups designated by the Board of County Commissioners shall
assist in providing entrepreneurial and management expertise and a well-trained, skilled, and
educated workforce to industries that are within the target industries list (Policy 2.5).
Policy 2.8: The County, in cooperation with the Vero Beach Municipal Airport, the Sebastian
Municipal Airport, the Indian River County Chamber of Commerce and its Economic Development
Division, shall actively market airport industrial lots and space and coordinate its marketing plans
with the airport's marketing plans.
Policy 2.9- The County, through the Indian River County Chamber of Commerce and its Economic
Development Division, shall identify and increase investments needed to enhance a competitive
advantage.
Polices The County, through the Indian River County Chamber of Commerce and its Economic
Development Division, shall facilitate interactions between venture capitalists, lawyers, scientists,
entrepreneurs, and financiers for new product development and new target industries within the
county.
Policy 2.11: The County shall request Federal and State agencies to expedite permit processing for
target industries and to eliminate duplication and streamline permit processing. This shall include
submission of letters and e-mails and phone calls to appropriate Federal and State agencies
requesting expedited permitting and follow-up communications with these agencies.
Policy 2.12: The County building division shall provide weekend inspection services at cost, based
on employee availability and the commercial/industrial tenant's need.
Policy 2.13: The County shall annually re-evaluate its economic development incentives by
comparing its incentives with incentives offered by other jurisdictions.
Community Development Department Indian River County 47
Comprehensive Plan Economic Development Element
Polices: The County shall compare its impact fees on an annual basis to other counties in the
state to determine if County impact fees are competitive for new commercial/industrial development.
Policy 2.15: The Indian River County Chamber of Commerce and other economic development
groups designated by the Board of County Commissioners shall develop and provide a community
information package for new employees and employers relocating to Indian River County.
Policy 2.16: The County, through its Local Housing Assistance Program, Low Income Housing Tax
Credit Program, and other housing programs, shall continue to provide workforce housing in the
county.
Policy 2.17: The County will initiate and support a voter referendum to establish an Indian River
County economic development tax abatement program.
OBJECTIVE 3: Maintain Trained Labor Force
Through the plan time horizon, there will be sufficient post secondary (college and technical
schools) training programs that meet the needs of the county's target industries.
Policy 3.1: The County., in conjunction with the Workforce Development Board of the Treasure
Coast (DBA Workforce Solutions) and the Indian River County Chamber of Commerceiwill survey
target industries to determine if educational needs are being met (see policy 1.2).
Policy 3.2: The County shall contact four-year colleges, universities, and other training providers to
determine the probability of a branch campus or research facility being established in Indian River
County. In so doing, the County shall note that it has the ability to offset impact fees for target
industries, including these institutions.
Policy 3.3: The County shall support the expansion of the local branch of Indian River State College
(IRSC) by providing assistance during the permitting process.
Policy 3.4: The County, through the school district, shall continue to offer adult education classes
and occupational training for county residents.
Policy 3.5: The County, through the Indian River County Chamber of Commerce and other
economic development groups, shall promote expansion of occupational education programs in the
county by demonstrating to the educational institutions a definitive local demand for expanded
programs.
Policy 3.6: The County, through the school district, charter schools, and private schools, shall focus
Community Development Department Indian River County 48
Comprehensive Plan Economic Development Element
on enhancing science, technology, engineering, and mathematics curriculum in K-12 schools.
OBJECTIVE 4: Facilitate Economic Development
By 2015, the county and municipalities within the County shall have at least two additional
established industrial/business/technology/research parks (for a total of 4 parks) with sufficient land
and adequate infrastructure to accommodate new or expanding businesses. At least one of these
parks should be developed for Biotech/research/technology industries.
Policy 4. 1: ' By 2010, the County shall establish an Indian River County Consortium for Life Science
Research and Technology Advancement with appropriate local governments, employment agencies,
institutions of higher education and other applicable entities, whose mission shall be to:
1. Promote and support the growth of existing key and emerging economic sectors; and
2. Provide legislative and governmental policies to support economic development; and
3. Make available physical infrastructure to support development, manufacturing, and
commercialization of products; and
4. Provide and support emerging technologies; and
5. Leverage the county's current K-12 schools with a focus on enhancing the Science,
Technology, Engineering, and Mathematics related foundation for education; and
6. Create a profusion of higher education opportunities within the targeted sectors to
enhance our competitive opportunities; and
7. Provide entrepreneurial, management expertise, a well trained, skilled, educated
workforce; and
8. Foster a synergy and interaction of venture capital, legal, scientists, entrepreneurs,
and financers to create product development; and
9. Identify and increase investments needed to enhance a competitive advantage; and
10. Provide the awareness, advocacy, and expressed will of stakeholders to support
economic development.
Policy 4.2: The County, through its Professional Services Advisory Committee, shall review and
evaluate the county's land development regulations on an annual basis. Any regulations that might
impede economic development will be considered and evaluated by the Professional Services
Advisory Committee for possible revision.
Policy 4.3: The County shall maintain its policies, regulations, information, and application forms
on the county website.
Policy 4.4: The County shall continue to maintain its database of capacity and demand information
for all concurrency related services and facilities. The county will use this database to program
Community Development Department Indian River County 49
Comprehensive Plan Economic Development Element
capital improvements to ensure that all services and facilities have adequate capacity to
accommodate projected growth and development.
Policy 4.5: The County, through its Planned Development process and PD zoning, shall allow
industrial/business/technology/research park developers and the county to designate the type of uses
appropriate for applicable new industrial/business/technology/research parks.
Policy 4.6: Through the time horizon of the plan, the county shall designate sufficient land on its
Comprehensive Plan Future Land Use Map for future commercial/industrial uses and shall provide
infrastructure (potable water and roads, and to the extent feasible sanitary sewer) for these lands to
facilitate development of industrial/business/technology/research parks within the county.
Policy 4.7: The County shall assist private industrial/business/technology/research park developers
to establish industrial/business/research/technology parks at the SR 604-95, CR 512/I-95, and Oslo
Road/74th Ave. commercial/industrial nodes, and at other appropriate locations within the county.
Assistance will include providing pre -application meetings to determine needs and requirements of
potential industrial/business/technology/research park developers, expediting the permitting process,
assisting with appropriate grant applications, and providing information pertaining to available
incentives.
Policy 4.8: The County shall, as needed or as part of the Evaluation and Appraisal Report, re-
evaluate the size and location of its commercial/industrial nodes. The Commercial/Industrial Data
Source document shall be posted on the County's website. This document consists of planning,
zoning, and land use information helpful to businesses desiring to relocate.
Police: The County shall be pro -active in assisting commercial and industrial developers through
pre -application meetings and Technical Review Committee meetings, by reviewing procedures,
identifying needed permits, and providing information and providing feedback to applicants to
expedite the permitting process. The county shall also assist applicants by providing information on
non -county required permits or reviews and provide contact information.
OBJECTIVE 5: Intergovernmental Coordination
By 2011, there will be an adopted Interlocal agreement between the County and the municipalities
that provides for coordinated economic development funding and economic development activities.
Policy 5.1: The County shall involve all necessary stakeholders needed to approve or assist any
economic development project wishing to expand or re -locate within the County so the approval
process happens expeditiously.
Police: The County, through the Indian River County Chamber of Commerce and its Economic
Community Development Department Indian River County 50
Comprehensive Plan Economic Development Element
Development Division, shall request that all local governments within the county provide
information pertaining to possible site locations for economic development prospects.
OBJECTIVE 6: Tourism Development
Through the plan time horizon, tourism will increase within the County to the point that by FY
2014/15 the County's annual local option tourist tax revenue will be at least $1,600,000 (FY
2007/08 tourist tax revenue = $1,496,835.35).
Policy 6. 1: The County shall provide revenue from the bed tax to the Tourism Division of the Indian
River County Chamber of Commerce and other tourism groups designated by the Board of County
Commissioners to market eco -tourism and cultural tourism in relation to the county's environmental
amenities and cultural offerings. The Tourism Division shall publish advertisements, which market
the county's environmental amenities and cultural offerings. A representative of the Chamber of
Commerce shall present those advertisements and any results to the Tourist Development Council.
Policy 6.2: The County shall provide Tourist bed tax to the Tourism Division of the Indian River
County Chamber of Commerce and other tourism groups designated by the Board of County
Commissioners, to partner with local resorts, hotels, and attractions to market the county as a
destination. Marketing activities shall include various methods of advertising, promotion, travel
shows, personal contacts and building relationships at a regional, national, and an international level.
A representative of the Chamber of Commerce shall report to the Tourist Development Council on
their marketing actions.
Policy 6.3: The County shall provide Tourist bed tax to the Tourism Division of the Indian River
County Chamber of Commerce to collaborate with other tourism groups, environmental, cultural,
sports organizations, attractions and event organizers to promote area events, attractions, and Indian
River County as a destination resulting in overnight stays in county hotels.
Policy 6.4: The County, through its Comprehensive Plan and Land Development Regulations, shall
maintain and/or improve the County's environmental, cultural, and aesthetic characteristics to attract
tourists and businesses to Indian River County.
OBJECTIVE 7: Economic Development Community Acceptance
Through the plan time horizon, a majority of the County's population will recognize the importance
of and support County economic development activities by supporting the County's economic
development initiatives, such as tax abatement program referendums, needing voter approval.
Policy 7.1: The county, through the Indian River County Chamber of Commerce, Economic
Development Council, and other economic development groups designated by the Board of County
Community Development Department Indian River County 51
Comprehensive Plan Economic Development Element
Commissioners, shall provide speakers to educate private citizens, service organizations, and special
interest groups about the county's economic development positions and strategies.
Policy 7.2: The Indian River County Chamber of Commerce and its Economic Development
Division shall continue its efforts to maintain and increase the level of public and private funding
support for economic development to be competitive with comparable communities.
Community Development Department Indian River County 52
Comprehensive Plan Economic Development Element
Implementation, Evaluation, and Monitoring
Implementation
The implementation of this element involves the actual execution of the economic development
element's policies. Table 5.16 states each policy, the type of action required to implement the
policy, the entity responsible for taking the action, the timing and whether or not capital
expenditures will be required to implement the policy.
The planning department has the overall responsibility for the element's implementation. The
planning department also has the responsibility of ensuring that other entities undertake their
responsibilities.
Table 5.16: Economic Development Element Implementation Matrix
Policy
Type of Action
Responsibility
Timing
Capital
Expenditure
1.1
Promote the growth of industries
EDD
Ongoing
No
1.2
Survey local businesses
EDD
Annual
No
1.3
Business recruitment
EDD
Ongoing
No
1.4
Promote business training programs
PD/EDD
Ongoing
No
1.5
Advertise employment opportunities locally and on web
BCC
Ongoing
No
1.6
Advertise Request for Proposals
PUD
Ongoing
No
1.7
Address complaints or concerns of business owners
PD/EDD
Ongoing
No
1.8
Compare IRC crime rates with South Florida crime rates
EDD
Ongoing
No
1.9
Develop marketing plan
EDD
Annual
No
1.10
Promote services of local and regional airports
EDD
Ongoing
No
2.1
Attract new industries
EDC/EDD
Ongoing
No
2.2
Provide economic development incentives and assistance
PD
Ongoing
No
2.3
Track Target Industries and Report
PD
Annual
No
2.4
Provide relocation assistance
EDD
Ongoing
No
2.5
Establish and evaluate a list of target industries
PD/EDD
Every two years
No
2.6
Provide Industrial Revenue Bonds
OMB
Ongoing
No
2.7
Provide entrepreneurial and management expertise
EDD
Ongoing
No
Community Development Department Indian River County 53
Comprehensive Plan Economic Development Element
2.8
Market airport industrial lots and space
CVB Airport/EDD
Ongoing
No
2.9
Identify and increase investments for competitive
advantage
EDD
Ongoing
No
2.10
Facilitate development of new products and new industries
in County
EDD
Ongoing
No
2.11
Request that Federal and State agencies expedite
permitting process
PD
Ongoing
No
2.12
Provide building inspection services on weekends
R D
Ongoing
No
2.13
Re-evaluate economic development incentives
PD
Annually
No
2.14
Reassess impact fee rates
PD
Ongoing
No
2.15
Provide community information package
EDD
Ongoing
No
2.16
Provide incentives for affordable housing projects
PD
Ongoing
No
3.1
Contact four-year colleges and universities
PD
Ongoing
No
3.2
Support IRCC expansion
PD
Ongoing
No
3.3
Offer adult education and occupational training
IRCSD
Ongoing
No
3.4
Promote the expansion of occupational education programs
PD
Ongoing
No
4.1
Establish a Consortium for Life Science Research and
Technology Advancement
BCC/COC
2010
No
4.2
Review and evaluate county's land development
regulations
PD
Ongoing
No
4.3
Maintain planning department web site
PD
Ongoing
No
4.4
Maintain concurrency database
PD
Ongoing
No
4.5
Allow flexibility of uses in industrial/business/technology
parks through the Planned Development process
PD
Ongoing
No
4.6
Designate land for future commercial/industrial uses
PP,
Ongoing
No
4.7
Assist private industrial park developers
PD
Ongoing
No
4.8
Re-evaluate commercial/industrial nodes and update CA
Data Source Book
I'D
Semi-annual
No
4.9
Provide efficient permitting process
PD
Ongoing
No
5.1
Involve appropriate parties in economic development
projects
PD
Ongoing
No
5.2
Request information on available industrial sites
PD/EDD
Ongoing
No
6.1
Market the county=s environmental and cultural offerings
TDD
Ongoing
No
6.2
Market county as vacation/recreation area
TDD
Ongoing
No
6.3
Publish advertisement cross -selling tourism and economic
development
EDD
Ongoing
No
Community Development Department Indian River County 54
Comprehensive Plan Economic Development Element
6.4
Maintain and/or improve county characteristics
PD
Ongoing
No
7.1
Provide speakers to educate private citizens regarding
EDD/PD
Ongoing
No
economic development
7.2
Maintain and increase funding for economic development
EDD
Ongoing
No
BCC =
Board of County Commissioners COC = Indian River County Chamber of Commerce
CVB = City of Vero Beach EDC = Economic Development Council
EDD =
Economic Development Division of Chamber of Commerce
PD = County Planning Department
IRCC
= Indian River Community College PUD = Purchasing Division
OMB
= Budget Office
TDD =
Tourism Division of Chamber of Commerce
As designated by the Indian River County Board of County Commissioners, the Economic
Development Division (EDD) of the Indian River County Chamber of Commerce functions as the
official economic development agency for the county and is recognized as such by Enterprise
Florida, Inc. (EFI) the state's economic development agency. Therefore, marketing activities
identified in the Economic Development Element are the responsibility of the EDD. The EDD has
developed promotional materials designed to attract prospective companies that are relocating or
expanding operations and maintains a strong business retention program.
Recently, the EDD has focused its efforts on developing stronger relationships with site location
consultants. Site location consultants represent firms that are actively searching for new locations to
accommodate an expansion or relocation of their operations. These professionals also provide
valuable insight into the site selection process and can offer communities advice on promoting an
area for business attraction. A familiarization tour was recently conducted inviting a group of
consultants to visit Indian River County to see the benefits our area offers their prospective clients.
During the site visit, the EDD meets with the prospective company or its representative to determine
which sites in Indian River County are most suitable and to discuss incentive programs that could be
available to the company. EDD walks the prospective company through the local site location
process and facilitates the incentive application process once eligibility is determined. The
company's due diligence process in evaluating all sites under consideration often takes months.
EDD has assisted several local businesses in securing incentives and training grants which enabled
them to expand their local operations thus creating jobs for local residents. The EDD has developed
material, such as the promotional thumb drive, the Enterprise Zone brochure, and revised incentives
brochure, and revamped its website, offering information needed to assist businesses in making their
relocation and expansion decisions.
Specific projects implemented by the EDD of the Indian River County Chamber of Commerce
include maintaining a business assistance team to help local businesses in dealing with state,
regional, and local government agencies; maintaining a list of available commercial/industrial sites
in the county, which is also available on the EDD website; and a business visitation program.
Community Development Department Indian River County 55
Comprehensive Plan Economic Development Element
Evaluation & Monitoring
In order to assess the effectiveness of the Economic Development Element, it has to be evaluated
and monitored. The element can be evaluated by determining whether the objectives have been met.
Table 5.17 identifies each of the objectives, the measure used to implement these objectives and the
timing involved in achieving these objectives.
The planning department staff will be responsible for evaluating and monitoring the Economic
Development Element. This will be done on a regular basis.
Table 5.17: Economic Development Element Evaluation Matrix
Objective
Measure
Timeframe
1
Difference between Indian River County's unemployment rate and the State of Florida's unemployment rate.
2010-30
2
Increased number of target industry jobs
2010- 15
3
Number of training programs for target industries
2010-30
4
Increase in number of industrial/business/technology/research parks
2015
5
Existence of interlocal agreement between government agencies for coordinated economic development
2011
6
Amount of Tourist tax revenue collected.
FY 2014/15
7
Community support of economic development
2010-30
F:\Community Development\Comprehensive Plan Elements\CLEANED UP COMP PLAN ELEMENTS\Economic Development Element.doc
Community Development Department Indian River County 56