Latest Information & Events

On the Economic Scene

PREPARE YOUR BUSINESS FOR HURRICANE SEASON – The Atlantic hurricane season begins June 1 and now is the best time for businesses and their employees to prepare. Business owners are encouraged to develop a business continuity plan before the season starts. The U.S. Small Business Administration (SBA) has resources for developing plans that can help protect employees, lessen a disaster’s financial impact, and reopen businesses quickly. Visit https://tinyurl.com/mv3xt37 for details on SBA resources. At the state level, the Florida Department of Economic Opportunity offers a website that helps Florida businesses prepare for and recover from hurricanes and other disasters. Businesses, like individuals and families, must be ready with a plan, and this website helps guide businesses step-by-step to help them prepare and quickly recover from an emergency. To learn more, go to https://floridadisaster.biz/.

SCORE PRESENTS: CYBERSECURITY & YOUR BUSINESS – Technology is an indispensable business asset offering both critical efficiency and productivity. However, keeping up with the latest business tech trends and their associated risks is increasingly a challenge for busy business professionals. How do you learn about and protect against the risks of everything from account hijacking, crypto mining, breaches and ransomware, to accidental data losses and outages? Attending SCORE’s 2-part cybersecurity workshop can help. The workshops will be offered from 6 - 8 p.m. May 23 and 30 at Daytona State College, 1200 W. International Speedway Blvd., Building 150, Room 100. Part 1 will explore the current cybersecurity landscape including attack trends and how to measure those that are most detrimental and costly to your business. Part 2 will review common sense approaches to risk mitigation and no or low-cost risk mitigation methods. For registration and information, contact Dorrie Myhre at 386-255-6889 or visit https://volusiaflagler.score.org and click on Local Workshops.

VMA PRESENTS 2019 VMA FINANCE DIVISION SERIES – Plan now to attend this important three-part series of business finance seminars June 19, July 18 and August 15, 2019, designed for non-financial personnel in a manufacturing organization to gain an understanding of financial statements. Mike Sibley, CPA, Partner, James Moore and Co., CPAs will lead the sessions. Understanding Basic Financial Statements will be held from 7:45 a.m. - 10 a.m. June 19 at Embry-Riddle Aeronautical University, 600 Clyde Morris Blvd., College of Business Bldg. 32, Room. 119. It will focus on the balance sheet, income statement, cash flow statement, working capital and other financial measurements. Inventory Costing seminars July 18 and Aug. 15 will cover valuation, quantities, cash flows, and working capital. The cost for each session is $45 or $125 for all three. Registration ends at noon June 17. For more information or to register visit https://vmaonline.com/events/understanding-basic-financial-statements-1-of-3-part-series/  or call 386-212-4003.

ACADEMY OF UNIFIED ARTS – This academy at Mainland High School prepares students for careers in the performing and visual arts. The goal is to develop and refine natural student talent and interest in areas such as the visual arts (ceramics, sculpting, drawing, painting) and the performing arts (band, chorus, dance, drama, musical theater, orchestra, music theory). Students are able to learn about the business and supportive aspects of arts careers. The academy also prepares students for multiple advanced placement courses within the field. For program details, contact Career Academy Facilitator Dan Lindy at djlundy@volusia.k12.fl.us.

ADP REPORT SHOWS NATIONAL SMALL BUSINESS EMPLOYMENT INCREASED – National private sector small business employment increased by 77,000 jobs in April, according to the ADP Small Business Report. Prepared monthly by human resources services company ADP, this report defines small businesses as those with 1 to 49 employees. The breakdown by sector was a gain of 24,000 jobs in goods-producing and 53,000 in the service-providing sector. Small businesses make an important contribution to the national economy. This is evidenced locally as over 85% of Volusia County business establishments have less than 20 employees. For more on this report, visit https://tinyurl.com/y44nv4dq.

FOOD & BEVERAGE MOVEMENT GENERATING RESULTS FOR RETAIL REAL ESTATE – As recently reported in REBusinessonline.com, restaurant and food and beverage retailers continue to experience patronage increases and strong consumer demand from adults in 2019. Restaurants, coffee shops, bars and other food concepts are pairing well with retail through lengthening the shopping experience and stimulating repeat foot traffic. The emergence of the U.S. foodie culture, increased social media interaction and the rise of delivery services are all seen as bolstering food and beverage market growth, particularly in urban centers but also in the suburbs. Nationally, a number of projects are in various stages of development reflecting continued investment in concepts that prominently feature food and beverage experiences such as food halls. This activity is seen to be further supported by rising discretionary income as evidenced by the Bureau of Labor Statistics, finding that wages grew 3.4% during the 12 months ending February 2019-- a 10 year high.

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.