Florida’s Great Northwest unveils target industry analysis
A Destin-based regional economic development organization released preliminary findings Thursday of a new Northwest Florida target industry analysis, with a final report to be released this summer.
Florida’s Great Northwest commissioned the study, which looked at major industries that could be supported within the region, in the fall of 2007, said organization spokeswoman Cristie Kedroski. It released the first findings of the analysis, conducted by nonprofit research institute SRI International, at Thursday’s Bay County Economic Development Alliance board meeting.
Aviation, health sciences, renewable energy, and transportation and logistics are the four major target industries identified by SRI. Information technology services and research and engineering services also were identified as being important to the success of the four major industries.
Michaela Dollar, the EDA’s director of marketing and communications, said SRI looked at 25 business clusters in the region and used criteria such as national and regional growth projections, wage structure and synergies with Florida’s tax and business climate.
“This shows specifically what industries we could attract and have potential growth for,” Dollar said.
Dollar said Florida’s Great Northwest is developing a strategic master plan for regional economic development and would use analysis data to help build future strategies.
She said the Bay County EDA often “piggybacks” on Florida’s Great Northwest regional marketing missions and would try to use the analysis’ findings in a similar manner.
Kedroski said financial services and construction services’ industries had been target industries in previous years.
“It’s looking at trends both in the region and globally,” Kedroski said.
The Destin organization will give a similar presentation next week in Okaloosa County and also one in Tallahassee, she said.
Florida’s Great Northwest will release a final report in July after the organization’s board reviews SRI’s findings, Kedroski said.
A separate study on the feasibility of alternative energy as a future regional industry is being conducted by a separate firm, SJH & Co. That study should be completed in the spring, Kedroski said.