Latest Information & Events

On the Economic Scene

DAYTONA BEACH INTERNATIONAL AIRPORT UPDATE – Passenger traffic at Daytona Beach International Airport (DAB) increased 8.7 percent for October in comparison with the same month last year. During the month, 63,821 passengers flew in or out of the county-operated airport, compared to 58,707 passengers last October. For the 12 months ending Oct. 31, total passenger traffic at DAB increased 4.7 percent with 719,356 passengers traveling through the facility last year compared to 753,117 passengers this year. For more information, contact Business Development Director Jay Cassens at 386-248-8030, ext. 18309.

LATEST U.S. ECONOMIC FORECAST NOW AVAILABLE AT FLORIDABUSINESS.ORG – The University of Central Florida’s Institute for Economic Competitiveness has released its latest U.S. Economic Forecast. In keeping with the season, it lists the “naughty” and “nice” factors that will likely define the 2019 economy. In this quarter's publication, the institute staff provides insights and projections for gross domestic product, consumer spending, investment, exports, housing and more through year 2021. Take advantage of the in-depth research and projections as you make plans for 2019 and beyond. You will find the U.S. Forecast as well as the institute’s Florida & Metro Forecast at https://tinyurl.com/y9qcjocl. To read the profile and forecast for the Deltona-Daytona-Ormond Beach MSA metro area, which is composed of Volusia and Flagler counties, go to https://tinyurl.com/ybq8n779 and begin on page 30.

EFI EXECUTIVE COMMITTEE NAMES MIKE GRISSOM AS INTERIM PRESIDENT AND CEO – On Dec. 5, the Executive Committee of Enterprise Florida’s Board of Directors held a conference call and unanimously approved Mike Grissom as interim president and CEO of Enterprise Florida Inc. (EFI). Grissom joined EFI in March 2015 as vice president of external affairs and currently serves as executive vice president. In addition to serving as interim CEO, he will maintain his role in leading Enterprise Florida’s legislative and external affairs efforts. EFI is a partnership between Florida’s businesses and government leaders and is the state’s principal economic development organization. EFI facilitates job growth through recruitment and retention, international trade and exporting, promotion of sporting events, and capital funding programs to assist small and minority businesses. EFI launched “Florida | The Future is Here” to promote the state as the nation’s premier business destination.

MODERNIZING R&D FOR THE 21st CENTURY – The United States spends more than any other nation on research and development (R&D) each year, investing over $150 billion in federally funded R&D alone. The U.S. Department of Commerce’s National Institute of Standards and Technology has released a draft green paper detailing steps to modernize the U.S. system of technology transfer and innovation for the 21st century. The actions outlined in the green paper would help maximize returns on the taxpayer investment in R&D. The document lays out actions aligned with five strategies: 1) identifying regulatory impediments and administrative improvements; 2) increasing engagement with private sector experts and investors; 3) building a more entrepreneurial R&D workforce; 4) supporting innovative tools and services for technology transfer; and 5) improving understanding of global science and technology. The complete green paper is available at https://tinyurl.com/yalcgp7x.

FLORIDA SPACEPORT AUTHORITY – As reported, Space Florida, the state’s spaceport authority, is getting closer to completing a deal with an undisclosed rocket launch company that will bring an estimated 239 jobs to the Space Coast. During its recent quarterly meeting in Orlando, Space Florida’s Board of Directors approved a request to finalize negotiations with the unnamed company under the code name “Project Maricopa.” Visit https://tinyurl.com/y79gr2m8 for further information. Space Florida was created to strengthen Florida’s position as a global leader in aerospace research, investment, exploration and commerce. Access to a broad range of information on Space Florida activities and facilities is available at www.spaceflorida.gov.

SUNRAIL REPORT – MetroPlan Orlando recently partnered with Florida State University to study the relationship between recently built housing and retail development near SunRail stations and the commuter rail system’s ridership. The resulting report is titled “Transit-Oriented Development and SunRail Riders: What’s the Connection?” Researchers sought to identify who lives and works near SunRail stations while determining what factors might influence decisions to use the train. Walkability, connectivity, density and employment were also explored in the research. The report concludes, among other things, that SunRail has captured a significant number of possible commutes around its stations, but that residential development has outpaced employment centers in relocating near the stops. To review the full report, visit https://tinyurl.com/yb3uuqpu.

GLOBALIZE YOUR WEBSITE – Globalize your website by making it local – with fully customized websites in your target markets. Enterprise Florida has teamed up with IBT Online to bring you the Florida Online Global program to help Florida exporters expand their overseas presence quickly and dynamically. Two options give you the flexibility to choose either a two-market expansion or multi-market web presence. Qualifying companies are eligible for an $8,000 grant to help offset the cost to your company. Visit https://tinyurl.com/y78dwjhr for program details.

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What We Do

The Volusia County Division of Economic Development assists business owners and works collaboratively with local stakeholders. We provide assistance at no cost to businesses with the desire and potential for growth within Volusia County.

The Division can help start-ups, second-stage, or maturing businesses directly or refer owners to other qualified organizations. Our economic development ‘ecosystem’ is focused on creating higher value, higher wage jobs.

While other community partners focus on recruiting new businesses to our county, the Economic Development Division assists existing Volusia County firms and entrepreneurs who are positioning themselves for new growth.  Incrementally growing the 13,935 established businesses already in our county offers the potential for significant economic growth and long term economic health.

In 2017, Gross Domestic Product (GDP) of the Deltona-Daytona Beach-Ormond Beach MSA, which encompasses Volusia County, was $15 billion. Our rapidly growing economy, now in the top 40% of all MSA's nationally, is driven by thousands of local enterprises that produce a variety of goods and services, creating jobs and stimulating even greater investment. Area companies not only support local commerce but also transact business throughout the world generating up to $437 million in exports, annually.