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

Institute Capability Maturity Model Level 3 software development organization, one of very few businesses ( approximately 17. 7 %), in the entire nation, either large or small, that presently hold this distinction. TYBRIN Corporation employs 584 Okaloosa County residents. Technology Coast Manufacturing and Engineering Network (TecMEN) Though not a business, the Technology Coast Manufacturing and Engineering Network TecMEN has proven to be a vital resource for Okaloosa County industry and development. TecMEN is a coalition for promoting growth and advancement among the technology based business community in Okaloosa County. Manufacturing and Engineering disciplines attended by TecMEN include aerospace and aviation, information T H F.- T [ f.. -. H f . l a , .': •_ 7 ;; H technology, micro- electronics, biometric technology, and I IIX-n M2 T Ht,'VV E=. .., F L..., : D T _ _ M I t precision machining and metal fabrication. There are over 156 technology -based companies per 100, 000 people in the Okaloosa County area, firmly establishing it as the technology hub of Northwest Florida. The TecMEN community anticipates further company after BRAC changes bring even more technology, engineering, manufacturing, and defense related subcontractors and businesses to Okaloosa County. Value Tech Realty Services, Inc. www.gotovalue.com Page 29 44-  Sound Side Apartments Okaloosa County Area Analysis Eglin Air Force Base, Hulbert Field and Duke Field ia,iarr € + tMY F, tl or . c vc rwhutct ee ' Fmt Walton Beach Eglin AFB is one of the largest economic engines in the region. The following chart and graph depicts the total economic impact of Eglin Air Force Base on a tri- county area comprised of Okaloosa, Santa Rosa, and Walton Counties: ESTIMATED ECONOMIC IMPACT OF DEFENSE INDUSTRY 2005 2007 2010 Total Employed' 86, 630 93, 020 91, 790 Gross Regional Product 6, 632, 500,000 7, 061, 200, 000 7, 165, 500, 000 Note': Total Employed refers to all of the persons directly or indirectly affected by Department of Defense spending in Okaloosa County; this includes retail and food and beverage services. Source: UWF Haas Center - Florida Defense Industry Economic Impact Analysis. Estimated Economic Impact of Defense Industry on the Region 2005 m 2007 0 2010': Value Tech Realty Services, Inc. www.gotovalue. com Page 30 45-  Sound Side Apartments Okaloosa County Area Analysis As indicated above, the presence of the Eglin Air Force Base complex, which includes Hurlburt Field and Duke Field, bears a tremendous annual impact on the Okaloosa County economy. Spending in the area, through direct personnel salaries, purchase of contract services in the area, and the like exceeded $ 7 billion in 2007, a figure that is expected to sustain through the end of the decade. In total, Eglin AFB contributes to the income of over 90, 000 people in the tri- county area, including transient residents and personnel. The average military salary at Eglin AFB was $ 81, 300 in 2005; data was not available for 2007 and 2010, but trends suggest a maintenance or improvement on the 2005 figure. Eglin Air Force Base is the largest military installation in the world, occupying 724 square miles of land range. There are 2, 239 buildings on the site, combining to provide over 12. 1 million square feet of usable space. Over 7, 900 active duty military serve the base. Eglin AFB is noted for hosting the Air Armament Center and the Joint Gulf Range Complex, which is an important training location. These statistics are also presented in the following table: EGLIN AFB STATISTICS- 2009 of Buildings 2, 239 Usable Square Feet 12, 105, 930 Complete Acreage 463, 067 Active Duty Military 7, 928 Civilian Employees 5, 435 Source: Okaloosa County EDC Hurlburt Field exists to support the training and execution of worldwide special operations, such as unconventional warfare, special reconnaissance, counter proliferation, foreign internal defense, information operations, psychological operations, civil affairs, and combating terrorism. There are 644 buildings on site that combine to provide over 5 million square feet of usable space. Over 8, 000 active duty military serve Hurlburt Field. These statistics are also presented in the following table: HURLBURT FIELD STATISTICS —2009 of Buildings 644 Usable Square Feet 5, 200, 000 Complete Acreage 6,634 Active Duty Military 8, 206 Civilian Employees 1, 316 Source: Okaloosa County EDC BRAC 2005 and Okaloosa County In March 2009, Okaloosa County witnessed the groundbreaking ceremonies for two monumental changes to its military profile. On March 20, the F -35 Joint Strike Fighter Group held a ceremony to commemorate the unit' s pending move to Eglin Air Force Base and the construction of the JSF Academic Training Center. The JSF moving party will include more than 2, 300 military personnel and more than 2, 500 of their dependents. The JSF will complete their move in 2010. On March 26, the 7`" Special Forces held a ceremony to commemorate the unit' s pending move from Fort Bragg in North Carolina to Eglin Air Force Base. The 7"' Special Forces are highly trained personnel deployed to the most intense of combat zones. Unit personnel have trained together and lived together in very unstable environments. 1 They have developed a closeness that promotes clustering in their lives away from the base. The 7 h Special Forces moving party will include approximately 2, 200 soldiers and 3, 867 dependents. The 7` Special Forces will complete their move in 2011. By the end of 2014, the Okaloosa County area will have experienced a total increase of 35, 000 jobs as a direct and indirect result of these BRAC changes and the affiliated moves of defense subcontractors and civilian positions. Over $ 735 million worth of MILCON Value Tech Realty Services, Inc. www.gotovalue. com Page 31 46-  Sound Side Apartments Okaloosa County Area Analysis military construction) work is expected to be done over that span of time, as these new units will need special training and operating facilities. The following chart, furnished by the Haas Center of the University of West Florida in 2007, illustrates the projection of increases to the Gross Regional Product GRP) brought about by BRAC changes: SttRi3tE't• iG¢ @ if E it3i'4' ; t= i'k5tfii ewttffP#3 .i- nd 207 201x3 24E1' I a ets3€tFml Rea ignmen i S F xed " C i} 3 t3 ` 4 1 3 4a3 8., ....,,,.. otal GRP t w:M 0.4 45A 8? ry xrt hfilhons Fixed 2000 M r y tal Em l6 taettt 7 X22'4 244 L k, riu a Non -Farm Ermloyment 2.. 7 3 2 + 54..... . 0.2 14. 7 3 r79.$ 51 . 5 611.5 ers 9r c (Millions } owe: REM Policy Ir; s_ ht Vwsicn H As shown above, by 2020, the tri- county area of Okaloosa, Santa Rosa, and Walton Counties can expect to experience an increase of approximately $ 613. 5 million to the Gross Regional Product as a result of BRAC personnel changes. These estimates do not account for the precise timing of personnel transfers, the magnitude of support service spending, and the expansion of future, programs and subsequent increase in spending power. Nevertheless, these data exhibit a positive economic impact by BRAC changes to Okaloosa County. Real Estate Trends Walton County has an economic base built on the Government ( Military) and Tourism industries. The following table displays the number of new building permits issued in Okaloosa County from 2001 to YTD 2009 through October, divided into single family and multifamily units.