Fort Walton Beach Council agenda — 03-23-2010 Special-Soundside Develp. Project — reading text

experienced a reduction in jobs both month -over -month and year- over -year. None of the industry sectors in the Fort Walton Beach -Crestview -Destin MSA reported year- over -year increases in employment. Value Tech Realty Services, Inc. www.golovalue.com Page 26 41-  Sound Side Apartments Okaloosa County Area Analysis The following table displays month by month labor force trends in Okaloosa County: EMPLOYMENT DATA - OKALOOSA COUNTY Period Labor Force Employment Unemployment Unemployment Rate October 2009 95, 554 88, 507 7, 047 7. 4% September 2009 96, 516 89, 502 7, 014 7. 3% Au ust 2009 98, 185 91, 424 6, 761 6. 9% July 2009 98, 731 91, 684 7, 047 7. 1% June 2009 98, 547 91, 499 7, 048 7. 2% May 2009 98, 102 91, 320 6, 782 6. 9% April 2009 97,037 90, 683 6, 354 6. 5% March 2009 96, 802 89, 967 6, 835 7. 1% February 2009 95, 994 88, 870 7, 124 7. 4% January 2009 96, 315 89,408 6, 907 7. 2% Source: Labor Market Statistics, LAUS - Not Seasonally Adjusted. Labor Force, Employment, and Unemployment in Okaloosa County 7. 6% d 100, 000 98, 000 7. 4% E 4; a 0 96, 0010 7. 2% 12 94, 000 7. 0% w 92, 000 Za 90, 000 6. 8% E, 2 6. 6% 88, 000 i 86, 000 6. 4% E m 84, 000 6. 2% Q 82, 000 6. 0% GQ Period Labor Force Employment Unemployment Rate As shown in the chart and graph above, unemployment in Okaloosa County has increased slightly since January 2009. The unemployment rate as of October 2009 was 7. 4 %, up from the summer months when rates are typically at their lowest. Okaloosa County reports an unemployment rate well below the state average of 11. 2°/x. Value Tech Realty Services, Inc. www.gotovalue. com Page 27 42-  Sound Side Apartments Okaloosa County Area Analysis The following chart depicts the top ten private employers of Okaloosa County: MAJOR PRIVATE EMPLOYERS OKALOOSA COUNTY Name of Employees Type Fort Walton Beach Medical Center 992 Hospital L -3/ Crestview Aerospace Corporation 973 Aircraft Manufacturing and Modification Resort Quest 930 Real Estate Sales and Property Management InD ne, Inc 861 Range/ Test Facilities; Security Systems; Multimedia DRS Training and Control Systems 860 Defense Electronics Sverdrup/ Jacobs TEAS 700 Engineering Services North Okaloosa Medical Center 673 Hospital New Corporation 590 Extended Service Plans T brin Corporation 584 Engineering Analysis and Software Development Cox Communications 575 Communications Network Source: Okaloosa County Economic Council for Development, March 2009. Fort Walton Beach Medical Center is a 257 -bed acute care hospital in operation since 1974. Since 2003, the Fort Walton 13U^,ach hospital has completed over $ 50 million in renovations, upgrades, and T` I Genter expansions, remodelmp, exteriors. of including the aesthetic interiors Fort Walton Beach Medical and Center is the area' s only hospital to provide a Heart and Cancer Center, and a Level II Neonatal Intensive Care Unit. Fort Walton offers, in addition to an Emergency Care Center, over 15 types of medical services, including Inpatient Physical Rehabilitation, Vascular Center, Psychiatric Center, and Diagnostic Imaging. The Cancer Care Center was opened in 2005 and includes 33 private bed units specifically designed to meet the needs of patients and their families. Other notable expansions include a Progressive Care wing with 33- private beds, a 23 -bed Intensive Care /Coronary Care unit, a new MRI /Cat Scan Suite, a new Cardiovascular Intensive Care Unit, and an additional Cardiac Catheterization Lab. Fort Walton Beach Medical Center employs 992 Okaloosa County residents. Crestview Aerospace Corporation, or L -3 Crestview Aerospace, is one of the most sought after providers of aircraft modification and aerostructure fabrication and assembly in the country. Some of their products and services include manufacturing of detail parts and kits for aerostructure components, the x assembly of fixed and rotary wing aircraft components and subcomponents, and performance of maintenance and modification on fixed and rotary wing aircraft at the heavy depot level, as well as implementation of mission -unique modifications. The Crestview Aerospace facility is comprised of 675, 000 vIE square feet and is located a short drive away from Eglin Air Force Base. Crestview Aerospace began operations in 1951 as TEMCO Aircraft Corporations. The company employs 97' ) Okaloosa County residents. Value Tech Realty Services, Inc. www.gotovalue.com Page 28 43-  Sound Side Apartments Okaloosa County Area Analysis Resort Quest is one of the nation' s premier rental hospitality and resort real estate firms. They are the largest marketer and management company of vacation condominiums and rental homes in the United States. Resort Quest joined with Partner Affiliates to increase their portfolio and S E,S influence; to g ether the y re p resen t over 50, 000 destination rentals in North America and Europe. Resort Quest operates properties in numerous Gulf Coast locations, including Perdido Key, Navarre Beach, Ft. Walton Beach Okaloosa Island, Destin, South Walton, and Panama City Beach. Additionally, Resort Quest out of Gulf Shores and Orange Beach in Alabama. Resort Quest employs 930 Okaloosa County residents and claims sales in excess of $1 billion annually. TYBRIN Corporation is a premier provider of process based DAMN systems and engineering services. TYBRIN employs 1, 390 people at their corporate headquarters to Fort Walton, Okaloosa County. Some of TYBRIN' s customers include Air Force Materiel Command; Air Force Special Operations Command; Air Force Space Command; Department of the Navy; US Army Space and Missile Defense Command; Air National Guard; Air Force Reserve Command; System Program Offices; Naval Air Warfare Center; Defense Finance and Accounting Service; combat operational wings; the State of Florida; and others, including non -domestic countries. In 2006 -2007, TYBRIN was listed as the number 23 provider of Information Technology services to the Air Force. TYBRIN is independently rated as a Software Engineering