Does the County need Economic Development and what services do they provide?

Osceola County needs Economic Development now more than ever. The Economic Development Department’s main focus is to retain, recruit and expand targeted industries in our County. A perfect example of their efforts was the recently announced corporate headquarters expansion of INViSiON Industries, the leader in overhead entertainment systems. This targeted industry was looking to expand their operations and was interested in relocating outside of Osceola County. Working with the State of Florida as well as Workforce Florida, the Economic Development Department was able to offer an incentive package. It included a high wage job creation incentive from the State of Florida and Osceola County, as well as a training grant from Workforce Florida. As a result, INViSiON Industries decided to remain in Osceola County, which will result in the creation of over 100 new Osceola jobs with an average wage exceeding $45,000.

Since the inception of the Economic Development Department in 2000, $9.3 million in incentive money has been awarded to targeted industries. Of these funds, 80% ($7.5 million) has come from the State of Florida, with the remaining 20% ($1.8 million) supported by Osceola County. The Economic Development Department’s efforts have resulted in over 4,786 jobs being created and retained and Capital Investments of over $170 million. Since 2007, local businesses have received over $305,000 in training grants from Workforce Central Florida.

What is a targeted industry? As defined by the State of Florida, a targeted industry is a company or business that creates high-wage jobs in specific sectors of the job market. Incentives can include refunds on corporate income, sales, ad valorem, intangible personal property, and certain other taxes. This list is compiled by the State of Florida, but the Economic Development Department works with community partners to refine the types of companies that are the best fit for Osceola County.