Orlando is one of the nation’s fastest-growing labor markets, according to the Orlando Economic Partnership.
The organization that helps attract major employers to the region released its 2017 second quarter insight for Orlando, and the major takeaways include:
- Orlando has created 3,500 new jobs per month and is positioned to continue its trajectory.
- Total payroll employment between March 2016-March 2017 grew by 3.6 percent, one of the fastest rates among metros with more than 1 million jobs.
- On any given day, there are more than 30,000 job postings in Orlando. CareerSource Central Florida has met with more than 89,000 career candidates and 5,500 businesses annually.
- Growth was seen in the business and professional services industry that added the second-largest share of new jobs during the past year with 7,100 new jobs. The business and professional services industry encompasses legal, accounting, computer systems design and administrative services.
- Business investment was the fastest-growing segment of retail activity, increasing 25.2 percent since January 2016.
- The leisure and hospitality industry added 12,000 new jobs over the last year and with Walt Disney World Resort’s upcoming World of Avatar and Universal Orlando Resort’s Volcano Bay water park and hotel set to open in May 2017. This growth can be attributed to the record-breaking 68 million visitors Orlando saw last year.
- Growing 8.8 percent over the last year, the demand for construction industry employment is far exceeding every other industry. This rapid growth is demonstrated across the region by the more than $9 billion in infrastructure construction. Notable projects include the Interstate 4 expansion, Orlando International Airport and Orlando Sanford International Airport expansions and SunRail's phase 2, among others.
One of the companies the data listed included digital technology firm Arrow Sky Media LLC, which is relocating its international headquarters from Nashville to Orlando as a tenant in $1 billion Creative Village. The Orlando City Council approved a nearly $700,000 incentive agreement with Arrow Sky Media to create 114 jobs that pay an average annual salary of $67,333 by 2019, OBJ previously reported. CEO Victoria Lauren said the company may build its workforce to more than 300 once it becomes a Creative Village office tenant.
Another major project is Osceola County’s recently completed Florida Advanced Manufacturing Research Center, home to BRIDG at the 500-acre NeoCity research park. Chester Kennedy, CEO of BRIDG, previously told OBJ the center would hire 80 to 90 employees.
Source: Orlando Economic Partnership