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Fran Korosec Florida Economic Gardening Institute

Fran Korosec Florida Economic Gardening Institute. Economic Gardening. Stages of Company Development. Stage 1 - (2-9 employees) Developing a product/service Stage 2 - (10-99 employees) Survival is no longer a daily concern Have a proven product or service

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Fran Korosec Florida Economic Gardening Institute

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  1. Fran KorosecFlorida Economic Gardening Institute

  2. Economic Gardening

  3. Stages of Company Development • Stage 1 - (2-9 employees) • Developing a product/service • Stage 2 - (10-99 employees) • Survival is no longer a daily concern • Have a proven product or service • Early infrastructure and operational systems • Leaders delegate more and wear fewer hats • Stage 3 - (100-499 employees) • Expansion in marketplace • Refined infrastructure and operational systems • Professional management • Stage 4 - (500+ employees) • Maintaining and defending market position • Professional management & governance 1 2 3 4

  4. Second-Stage Companies • Typical 2nd Stage • 10 to 99 Employees • $1M to $50M in Revenue Data source: Edward Lowe Foundation, www.youreconomy.org

  5. Balanced Approach For Economic Development Attraction Retention Entrepreneurship Business Growth Business Movement

  6. Simple Math 1 x 500 = 500 versus 50 x 10 = 500 (Companies x New Jobs = Total New Jobs)

  7. What Does FEGI Provide?

  8. GrowFL – Technical Assistance What is Technical Assistance? Strategy Review Market Research Competitive Intelligence GIS – Mapping/Demographics Web / Social Media Strategy Search Engine Optimization Assistance is Focused on Short and Long Term Sales Growth Increased Sales Drives Job Creation

  9. Since November 2009 Provided Technical Assistance Engagements for over 370 Companies Funded the Participation of More Than 100 Companies in CEO Roundtables Hosted Dozens of Events, Forums, Webinars, Workshops (including the inaugural Florida Companies to Watch event) Throughout Florida

  10. The Impact of GrowFL(November 2009 Thru September 1, 2011) Creation of 3,285 Direct/Indirect/Induced Jobs Resulting In: $510.4M Annual Economic Impact $267.4M Increase in Florida’s GDP $18.7M Increase in State/ Local Net Tax Revenue Investment Per Job Created - $1,065 per Job (Source: “The Economic Impact of GrowFL”, TuckerHall, August 2011)

  11. So Now What? • Funding Support Currently Provided By UCF, FHTCC, Orange, Seminole, Volusia, Marion, Brevard Counties, and the Tampa Bay Partnership • Contracted by Edward Lowe Foundation About Assisting Other States – Indiana • Florida Legislature has included EG in funding appropriations for FY2012/2013

  12. Thank You Florida Economic Gardening Institute 12201 Research Parkway, Suite 501 Orlando, Florida 32826 main: (407) 823-6384 www.GrowFL.com Fran Korosec fran@growfl.com (407) 882-0210

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