As we grow older, the world around us never stops changing. Online banking, cellular phones, web-based college courses and even how people go about purchasing a vehicle.

Ten years ago people, purchased newspapers or car magazines in order to find vehicles for sale. Many found their next automobile by driving by a dealership and looking over the fence. Today’s shoppers are different. The advent of internet shopping has changed both the way dealerships attract their customers, and how customers decide where to take their business.

Internet pricing, social networking sites, consumer reviews, eBay, appraisal websites and many more have gone a long way in educating the consumer as to what they should expect when making their next automotive purchase.

Today’s automotive customers have access to a dealership’s invoice costs, dealer hold backs, annual percentage rate (APR) offers and true market value. They know if they inquire through a dealer’s website they can almost always receive a discounted price prior to ever speaking with a sales representative, or physically seeing the vehicle of interest.

These customers have also discovered the advantage of online trade appraisal sites, which allow them to factor the value of their current vehicle into the car buying equation. These appraisal websites even offer to purchase the customer’s trade outright.

The various brand websites have developed unique interactive portals in which the customer can build a virtual model of the exact vehicle they would like to own and, often times, these sites even provide them with the exact manufacturer’s suggested retail price (MSRP) of the vehicle they built.

Some customers are even choosing to obtain their own financing prior to visiting a dealership in today’s market. What this adds up to in the end is a consumer who knows what they want, how much it should cost and what the dealer can do to help them.

The internet has also provided the consumer with options other then dealerships from which to make their next vehicle purchase. Craig’s List and eBay are the leaders in this front, however there are others. Why haggle to lower a price when you can bid against other consumers up to the point where you would no longer be interested in the vehicle?

Outside sites also allow consumers to create accounts in which they can add various vehicles and watch them over the course of a period of time. This allows the consumer to keep track of pricing on similar vehicles at different locations and watch as the seller slowly lowers the associated pricing as the inventory becomes aged. Somtimes these sites even include vehicles being sold by other consumers. These options open up the market for consumers to include vehicles from all across the country as opposed to just down the street like the olden days.

Although this plethora of information is available to the computer savvy shopper, there are still tricks of the trade available to them from those in the business. Often, shoppers will see advertisements for where they can choose either cash back or a great APR offer. But which is better? While the fine print may confuse a consumer untrained in finance lingo, these incentives are almost always equal in value. The benefit comes from knowing which one is right for the customer depending on how they intend to pay for their purchase.

This is where the expertise of a good finance manager comes into play for the consumer. With each option being of equal value, the finance manager is truly working for the customer at this point.

In today’s world, a bad reputation can do a lot of damage, while a good reputation can win you countless referrals. What customers have to say about their experience when they leave can make or break a dealership in the always on the go, always in communication society we live in.

The benefit is that sales personnel and dealers are on their best behavior and they’re willing to make deals. As they actively adapt to the changing communication and car buying environment, the real winner is the consumer.

About the Author:

Daniel Ward is a Client Advisor at Fields BMW in South Orlando. With more than 13 years in the auto industry, Dan has sold numerous classes of vehicles for several of the world’s leading automotive manufacturers.

Article by Daniel Ward

When you talk to someone not familiar with the region that you work in Orlando, the most common response is something along the lines of, “What’s it like working at a theme park?” Although it’s not necessarily bad be perceived as a tourism driven economy, because that’s what the area is for the most part, it’s not all the region has to offer.

In fact, a paradigm shift has been slowly working for years, shifting the economy away from tourism to diversify the region into a world-class center for big business and startup entrepreneurs alike. Many leaders say this economic diversity is key to ensuring future growth and continued success for our region for generations to come, and it’s happening right now.

“I think we have a strong economic and brand identity, but that perception is not necessarily the reality of what we have here today,” says Raymond Gilley, president and CEO of the Metro Orlando Economic Development Commission (EDC). “Yes, we’re a top visitor destination; however we want to increase the diversity of our marketplace, increase the number of businesses that are here and ultimately increase the number of career and job opportunities that are here for our citizens.”

Orlando was recently ranked as the seventh best city to start a small business according to BizJournals, and the fourth most popular city based on where people want to live, according to Pew Research Center. In large part, those rankings are due to the business-friendly environment that stresses diversity created by organizations like the EDC and its partners, coupled with the area’s natural resources, tax laws and ease of access.

The end result is quickly becoming a diversified region, promoted as a top business destination for a variety of industries, sectors and clusters. In fact the region is already host to diverse, high-tech companies in modeling and simulation; photonics and optics; aviation and aerospace; financial services and more.

It has been driven by forward thinking leadership coupled with a slower population growth and increased emphasis on public education. “Having a good K-12 school system along with the university and community colleges is a big help,” says Dr. Sean Snaith, director of the Institute for Economic Competitiveness at UCF. “That alone is going to attract companies to this region if they know they can get qualified, skilled workers to fill their firms.”

Continued diversification, which includes technology, health and general business will help drive the economy moving forward, according to Gilley, carving out an even stronger economic identity for decades to come. “These industries provide innovative solutions to businesses all over the world, and that allows us to create more jobs both now and in the future,” he says. One such example is the booming technology industry housed here that employs more than 53,000 people and has an economic impact of $13.4 billion.

But, it’s not enough. The next step involves continued development of the multiple resources, transportation and education initiatives already in place. “Those factors are the driving forces for most businesses,” says Gilley. “They want to be a proactive environment with an educated, talented and productive workforce that is scalable in size and we are working continuously to make ourselves more attractive to them.”

In addition to being host of several high-level private and public education options, Orlando was also recently awarded dollars for commuter rail and high-speed rail, which will not only alleviate traffic, but also work to attract more businesses to the area. “We already have a world-class airport. Now that we’re adding other forms of affordable mass transit on the ground to move people and goods it opens up tremendous amounts of employment opportunities and makes the region look that much more attractive,” Gilley says.

According to Snaith, the area is better prepared for the future, in part, thanks to our prior dependence on the tourism industry. “We’ve learned a lot of painful lessons about diversification over the course of the financial crisis and recession,” he says. “Being too tied into either tourism or construction will have a disastrous effect on the economy, but when you’ve got a diversified economy you’ve got more of a safety net to fall back on when a crisis like this one impacts the area.”

Snaith continues, “The things that are going on here help make us a national trendsetter.” The projects he refers to are those like the medical city in Lake Nona. Orlando is one of only two communities in the world building such a cluster of life sciences companies. The end result will be an estimated 30,000 jobs with $7.6 billion in economic impact.

If needed, incentive programs are in place to help bring large nonprofits, like the Sanford-Burnham Medical Research Institute in Lake Nona, to the area in the future as well. “When you’re trying to create a catalyst for an industry and engage a company like Burnham, the level of incentives go to quite a higher level because nonprofit companies like that have no ability to expand beyond where they are without complete funding in both operations and capital,” says Gilley. “The state is fairly conservative with its incentive program, looking for value and return on investment, as it should be; but it remains something we must have access to as a tool to be used judiciously and applied to the right kinds of projects.”

No matter how it’s reached, the long term goal is to create a strong, thriving economy that helps lead the area to a better tomorrow. “Building an economy is a never-ending task and it takes a broad team effort of both private and public partners to get that done, which we have,” says Gilley. “I think our future is very bright; we’re going to have to continue to invest wisely, plan strategically and play to our strengths regarding future business centers and communities where people will live, work and play.”

Article by Corey Gehrold

By now you’re no doubt aware of some of the economic engines driving the local East Orlando economy. Fueled by the University of Central Florida, multiple government defense contracts, healthcare, a growing technology industry and all of the supplemental businesses that support these giants, the area is on its way to positioning itself as an economic leader in the future. These are high-wage jobs that could change the way our region grows and sustains itself. But, what’s it going to take to get the area the rest of the way?

“I think what we have to do is find someone to act as the leadership and the catalyst to galvanize the medical industry in Central Florida,” says retired USAF Lt. Gen. Thomas L. Baptiste, president/executive director, National Center for Simulation (NCS).

According to Baptiste, there is a “perfect storm” brewing in the area and a finite amount of time to capitalize on the opportunity to showcase Orlando as the next epicenter for medical modeling and simulation, an area he believes is key to the future economic development and stability of the region.

“We can lead the world in medical simulation and really become a world leader in the industry and now is the time,” says Baptiste. “What’s lacking right now is an advocate, someone to drive the train, that can attract all the stakeholders that need to be involved and get them to work together.”

Orlando already leads the nation in simulation and modeling with more than 150 companies employing nearly 17,000 creating a gross regional product worth more than $3 billion.

Leaders of the simulation industry believe that making the transition from defense oriented applications to digital media and medical training is the next logical step. “We have the technology, it’s here, let’s us it,” says Ron Johnson, head of business development for Laser Shot Inc, a simulation company in Research Park. “You can do things in simulation that may cost a life in the real world but not in the simulation system. If you make a mistake in the real world someone may lose a life, in a simulation no one gets hurt and you can learn a valuable lesson.”

“Since the first agreement was signed by the Navy 60 years ago, the focus of simulation training has been aimed at the Department of Defense,” Baptiste says. “We’ve done some really remarkable things and there is no reason it can’t apply to digital media, serious gaming, transportation and medical simulation as well.”

For decades, pilots and soldiers have come to rely on simulators to help them sharpen their professional skills, in fact many career pilots say they have not done anything in an airplane they did not first do in a simulator.

Locals, who had no idea the simulation industry was so large in the area, remain undecided on the issue. “It would create a lot more jobs, but they are specialized,” says James Lucas of Vista Lakes. “Without years of training, I couldn’t work there so it’s not a job opportunity for me or my family.”

Still, leaders of the simulation industry say they are ready, and the impact is potentially monumental to the healthcare field. “What we’ve done is so good and so ready to be transitioned into these other areas that all we need is for leaders in these areas to buy into the fact that it’s very easy to take what we’ve done and spin it off to fit their needs,” says Baptiste. “We can move them out of the dark ages.”

Proponents of simulation for the medical field specifically see a day in the near future where custom applications will supplement hands-on training required in medicine, perhaps even becoming a new standard in medical curriculum.

Combined with the medical city being built in Lake Nona, the proposed medical simulation cluster would be one of a kind. “All of these companies picked this area because of location and there is a cooperation between industry, academia and government,” Baptiste says. “When you start to look at the synergies that will be involved in the medical world because of that proximity and cooperation, collaboration and partnership, it’s perfect.”

The next step is selling the idea as one thing remains clear to Baptiste and the NCS team. The time to move is now, simply because the opportunity will not last.

“If we can’t get the stakeholders to at least agree on a general idea of how we take this forward soon, we’re going to miss the opportunity,” says Baptiste.

Article by Corey Gehrold

On May 11, developers of the Innovation Way East project (IWE) went before the Orange County Board of County Commissioners seeking approval to change zoning laws for a 4,625-acre property they own in southeast Orange County. If approved, the result would merge IWE with nearby International Corporate Park (ICP) to create the project dubbed “Innovation.” After meeting until well past 11 p.m., the vote was delayed until June 22 to allow for more dialogue on the land uses.

According to the developers - Suburban Land Reserve (SLR) and Farmland Reserve, corporations held by the Mormon Church - the end result will create more than 6,300 homes and provide a state-of-the-art live-work community that houses hundreds of industrial and high-tech jobs. Within 10 years, SLR says that Innovation is expected to bring 1.5 million square feet of research facilities, 1.7 million square feet of industrial space and 1 million square feet of office space. More than 50 percent of the total land area will be preserved as permanent open space and parks.

“Approval of Innovation immediately provides $50 million of shovel ready development projects and over 25,000 high-quality, high-tech clean jobs for the future at full build-out,” says Adam McKinnon, business development manager for SLR.

The IWE project has been rigorously opposed by some county growth staff and community environmental groups for various reasons, the most cited stating there is no need for new housing in the area and extending the urban services there (water and sewer) would promote greater population sprawl.

Still, SLR contends that final land use plan approvals are still months away and the land is as much as four years away from building any homes in IWE. “As for ICP, once both projects are approved, business, road and research park development will become imminent,” says McKinnon.

Several County Commissioners remain opposed to the development. In January, Orange County Mayor Richard Crotty agreed with the critics, arguing that there was no need for additional housing in the area. But a lot has changed since then. SLR has reduced the amount of housing called for to the 6,300 number, down from their original 8,000. Commissioner Mildred Fernandez, who opposed the project was arrested on corruption charges leaving a possible 3-3 tie with the remaining Commissioners.

Further complicating matters is the fact that SLR is slated to split the costs of building a new BeachLine Expressway (SR528) interchange almost evenly with the county and the Orlando-Orange County Expressway Authority, contributing roughly $12 million. However, they have said recently that they could not help build the connection unless their project was approved.

Supporters of the project say that a potentially region-shifting economic-development effort, named “Project Transform”, may be lost if IWE cannot get approved.

Although initially opposed to the idea, District 5 Commissioner Bill Segal has said that if more details are revealed about the project, he may alter his vote because of the potential impact of the deal. “I am committed to crafting a proposal that can get the support of the community, my fellow commissioners and the land owner,” says Segal. He stresses that any proposal must provide three things for it to gain his support: protection for environmentally sensitive lands, funding to build the interchange for Avalon Park and supply a significant amount of real high-paying jobs. “I cannot, nor will I put forward any proposal that falls short of these three goals.”

Supposedly, Project Transform involves Sematech, a Texas-based semiconductor producer. The deal is rumored to include county-level, state, federal and private incentives in the range of tens of millions of dollars. If approved, the deal would provide around 100 jobs and help solidify the IWE region as the high-tech region it hopes to become.

Regarding the project, SLR was not able to provide any further details. “SLR is working closely with the Metro Orlando Economic Development Commission to bring a major job catalyst to Central Florida,” says McKinnon. “Unfortunately we are unable to comment at this time due to a confidentiality agreement we are committed to maintaining with the parties involved.”

As the June 22 deadline approaches and plans are reworked, SLR contends that the right time to make the development happen is right now. “With the land use approvals of Innovation, it will launch an immediate job creation component,” says McKinnon.

Article By Corey Gehrold

Inquires as to the development and zoning process can be directed to Adam McKinnon or JD Humpherys by e-mailing AdamMcKinnon@SLReserve.com or JDH@SLReserve.com, respectively.

How does increasing the jobs in Orlando by 136 percent sound? If the relatively novel concept of “economic gardening” works then it may be possible to increase the job market exponentially, much like it did in the city of Littleton, CO.

Economic gardening was introduced there in 1989 as a demonstration program to deal with sudden erosion of economic conditions. The result was the 136 percent job growth figure. The concept has since emerged as a successful method to create sustainable economic growth for communities that utilize it properly.

At its core, economic gardening embraces the fundamental idea that entrepreneurs and small businesses drive economies. The model seeks to create jobs and produce growth by supporting existing companies within a community.

By connecting powerful entrepreneurs to resources and encouraging the development of essential infrastructure in their businesses, the concept provides owners with resources they would not otherwise have access to. The result increases jobs and revenue for participating organizations.

Leading the charge in Florida is the Florida Economic Gardening Institute (FEGI) and their GrowFL program headquartered at the UCF Office of Research & Commercialization. The Florida Legislature funded FEGI and its partners, which include Workforce Florida, the Florida High Tech Corridor Council and the Florida Economic Development Council among others. The organization provides a wealth of services to second stage growth companies.

To qualify for assistance, these second stage growth companies must meet a set of criteria that includes, but is not limited to: being privately held, employing at least 10 people (but not more than 50) and maintaining a principal place of business in Florida for at least the previous two years.

Once approved, the enterprise will receive a multitude of high-speed, one-on-one technical assistance and business tools at no charge. These include database research, search engine optimization, networking events, seminars, executive roundtables and more.

“These companies are too big to be small and too small to be big,” says Dr. Tom O’Neal, executive director of FEGI and director of the UCF Technology Incubator. “The fundamental problem they have is not having the same access to resources to grow that a major corporation has, but they don’t need the typical small business development services either - they need something to get them to the next level and that’s where we come in.”

O’Neal notes that there was a gap that needed to be filled. The companies, all of which must produce more than $1 million in annual revenue to be accepted into the program, can turn to FEGI for the help they know they need but simply don’t have the time to get to. “We do the things that they need to do in a short amount of time to help them grow. They are still in charge of every aspect of their business, we just supply the specialists,” he says.

Since its inception in November 2009, the goal of FEGI is simple: create more jobs while spreading the economic gardening prospect. “We want to make Florida more prosperous, not just bigger,” says O’Neal. “Our mission is to help these companies become even more successful than they already are by plugging them into resources and introducing them to contacts they wouldn’t otherwise have the chance to meet.”

Their mission is supplemented with the help of area partners, like the Metro Orlando Economic Development Commission and the Florida High Tech Cooridor Council, which helped organize the standing-room-only GrowFL Second Stage CEO Summit in downtown Orlando during late April. The summit served as not only a “speed dating networking event,” but also as a platform for local executives to share their companies with each other and the titans of Central Florida industry.

“What we’re witnessing here is a cross section of community leaders from throughout the Central Florida region willing to help these second-stage companies reach the next level,” says Randy Berridge, president of the Florida High Tech Corridor Council and Waterford Lakes area resident. “These companies represent where the most jobs are created the fastest, so success benefits each of us that live and work here.”

As for the future of economic gardening, O’Neal believes that it should be adopted as a growth strategy by every economic development organization in every county in Florida.

“Ultimately we want to be the catalyst that makes the concept take off locally and lead the way that people do things from now on,” he says. “It’s a necessary tool to have in everyone’s toolbox.”

Article by Corey Gehrold