Q3 QVolusia County Economic Development
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1 labor statistics represent only the numbers provided by DEO for July and August QVolusia County Economic Development Third quarter 2013 update: November 8, 2013
2 Introduction: by County Chair, Jason P. Davis The Volusia County Council is pleased to present the most recent economic indicators that impact our county. We trust this information will be of value to you in your day-to-day business planning. Economic development is a team sport in Volusia County. It is essential the public and private sectors work arm in arm as we seek to promote economic prosperity in our community. Since the first quarter of 2008, the county s Economic Development Division has hosted an economic update breakfast that we call our Q meetings. As we all work together to achieve our economic objectives, it s essential we understand the economic indicators that influence our decisions. The Q meetings are an opportunity to learn, network, share ideas and build relationships. Our Economic Development Division closely monitors and analyzes a wide variety of economic data in an effort to understand the current and future factors that affect the economy. The purpose of the Q briefings is to share this information with business leaders and decision-makers to enhance awareness of important economic facts. The Economic Development Division has extensive information that is available to you. Please do not hesitate to seek our assistance. We welcome your input and participation in today s Q briefing. Jason P. Davis and members of the Volusia County Council
3 Employers by size in Volusia County (total of 11,286) # employers STAGE 2 5,000 # employed 30,000 4,000 25,000 3,000 20,000 2,000 1,000 0 employment range: 16.8% of total employers 50.1% 15.0% 8.2% 5.6% 2.2% 1.4% 0.4% 0.2% 0.1% ,000 plus Note: Employment for a given month is the number of covered workers who earned wages during the pay period which included the 12th of the month. Size of firm data are always based on the third month of employment. Source: Department of Economic Opportunity, Labor Market Statistics, Quarterly Census of Employment and Wages Program. page 1 15,000 10,000 5,000
4 Third quarter 2013 labor statistics* labor force (all available workers) percent unemployed 3rd qtr rd qtr net change % net change 3rd qtr rd qtr Volusia County 253, , % Volusia County 7.2 % 9.0 % Florida 9,463,000 9,432,667 30, % Florida 7.3 % 8.9 % U. S. 156,583, ,618, , % U.S. 7.5 % 8.1 % Program funding provided by the U.S. Department of Labor, Bureau of Labor Statistics, as part of the federal statistical system, was affected by the recent federal shutdown. Per Florida Department of Economic Opportunity (DEO) the statewide release will be November 22 for September and October labor statistics. unemployment (all unemployed workers) 3rd qtr rd qtr net change % net change Volusia County 18,372 22,783-4, % Florida 687, , , % U. S. 11,772,500 12,612, , % 12% 10% 8% 6% 4% Volusia MSA unemployment rate by quarter current numbers not available for update at this time. 2% * statistics on this page represent only numbers provided by DEO for July and August Note: Numbers are based on an individual s place of residence (whether employed in their immediate area or elsewhere). Source: U.S. Department of Labor, Bureau of Labor Statistics, Local Area Unemployment Statistics Program. page 2
5 Employment by major industry* Deltona-Daytona Beach-Ormond Beach MSA 3rd qtr. 3rd qtr. July 13 Aug 13 Sept 13 avg avg net change % change construction 7,800 7,900-7,850 7, manufacturing 8,600 8,600-8,600 8, wholesale trade 4,600 4,600-4,600 4, retail trade 24,600 24,200-24,400 23,333 1, transportation, warehousing, utilities 2,000 2,000-2,000 1, information 2,000 2,000-2,000 2, financial activities 7,700 7,600-7,650 7, professional and business services 16,300 16,100-16,200 16, education and health services 31,700 31,400-31,550 31, leisure and hospitality 24,200 23,600-23,900 22,533 1, other services 7,600 7,500-7,550 7, federal government 1,100 1,100-1,100 1, state government 2,900 3,000-2,950 3, local government 14,500 15,900-15,200 16,733-1, total non-agricultural employment 155, , , ,067 1, * statistics on this page represent only numbers provided by DEO for July and August Notes: Estimates represent jobs by place of work (whether employees live inside of or outside of Volusia County). Source: Florida Department of Economic Opportunity, Labor Market Statistics Center, Current Employment Statistics Program in cooperation with the U.S. Department of Labor, Bureau of Labor Statistics page 3
6 Labor force* Deltona-Daytona Beach-Ormond Beach MSA and selected Volusia County cities MSA 3rd quarter 2013 labor force 255, , ,862 employment 236, , ,490 unemployment 18,834 17,909-18,372 % unemployed Daytona Beach 3rd quarter 2013 labor force 32,150 31,554-31,852 employment 29,365 29,045-29,205 unemployment 2,785 2,509-2,647 % unemployed DeLand 3rd quarter 2013 labor force 12,189 11,966-12,078 employment 11,208 11,086-11,147 unemployment % unemployed rd quarter 2012 labor force 255, , , ,281 employment 231, , , ,498 unemployment 23,720 22,971 21,658 22,783 % unemployed rd quarter 2012 labor force 31,864 31,573 31,691 31,709 employment 28,705 28,564 28,861 28,710 unemployment 3,159 3,009 2,830 2,999 % unemployed * statistics on this page represent only numbers provided by DEO for July and August Note: Numbers are based on an individual s place of residence (not where they are employed). Source: U.S. Department of Labor, Bureau of Labor Statistics, Local Area Unemployment Statistics Program. 3rd quarter 2012 labor force 12,234 12,148 12,200 12,194 employment 10,956 10,902 11,016 10,958 unemployment 1,278 1,246 1,184 1,236 % unemployed page 4
7 Labor force* Deltona-Daytona Beach-Ormond Beach MSA and selected Volusia County cities Deltona 3rd quarter 2013 labor force 46,743 46,075-46,409 employment 43,151 42,682-42,917 unemployment 3,592 3,393-3,493 % unemployed rd quarter 2012 labor force 46,680 46,413 46,596 46,563 employment 42,182 41,974 42,411 42,189 unemployment 4,498 4,439 4,185 4,374 % unemployed Ormond Beach 3rd quarter 2013 labor force 19,668 19,401-19,545 employment 18,471 18,270-18,371 unemployment 1,217 1,131-1,174 % unemployed rd quarter 2012 labor force 19,638 19,510 19,574 19,574 employment 18,056 17,967 18,153 18,059 unemployment 1,582 1,543 1,421 1,515 % unemployed Port Orange 3rd quarter 2013 labor force 30,610 30,185-30,398 employment 28,799 28,486-28,643 unemployment 1,811 1,699-1,755 % unemployed rd quarter 2012 labor force 30,429 30,171 30,353 30,318 employment 28,153 28,014 28,305 28,157 unemployment 2,276 2,157 2,048 2,160 % unemployed * statistics on this page represent only numbers provided by DEO for July and August Note: Numbers based on an individual s place of residence (not where they are employed). Source: U.S. Department of Labor, Bureau of Labor Statistics, Local Area Unemployment Statistics Program. page 5
8 Volusia County residential permit data by quarter value of permits $ million $ $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits $ permits quarter: Source: cities and county permit offices. Permits listed reflect new construction only. page 6
9 Volusia County residential permit data for the most recent five quarters 3rd qtr. 12 4th qtr. 12 1st qtr. 13 2nd qtr. 13 3rd qtr. 13 permits $ value permits $ value permits $ value permits $ value permits $ value Unincorporated 29 $8,022, $5,164, $9,182, $14,728, $16,616,798 Daytona Beach 39 11,614, ,244, ,859, ,876, ,644,817 Daytona Beach Shores DeBary 7 1,484, ,568, ,070, ,685, ,000 DeLand 57 17,418, ,046, ,082, ,733, ,174,426 Deltona 8 1,590, ,554, ,185, ,072, ,320,614 Edgewater 1 227, , , ,059, ,184 Holly Hill , Lake Helen New Smyrna Beach 37 11,269, ,530, ,172, ,730, ,602,480 Oak Hill ,750 Orange City 4 1,294, , , , ,431,961 Ormond Beach 9 2,344, ,223, ,085, ,813, ,329,138 Pierson Ponce Inlet , , ,639, ,705 Port Orange 47 13,433, ,398, ,766, ,152, ,255,384 South Daytona 1 120, , , , ,079,936 totals for quarter 239 $68,819, $53,692, $71,366, $104,000, $116,316,193 Source: cities and county permit offices. Permits listed reflect new construction only. page 7
10 Volusia County commercial permit data by quarter value of permits $ million $ $27-19 permits $17-20 permits $18-13 permits $47-26 permits $37-30 permits $34-14 permits $10-14 permits $49-38 permits $57-30 permits $23-15 permits $22-23 permits $21-18 permits $21-16 permits $17-15 permits $44-20 permits $11-15 permits $26-17 permits $40-48 permits $ permits** quarter: Source: cities and county permit offices. Permits listed reflect new construction only. ** Includes single $105m permit for Daytona International Speedway. page 8
11 Volusia County commercial permit data for the most recent five quarters 3rd qtr. 12 4th qtr. 12 1st qtr. 13 2nd qtr. 13 3rd qtr. 13 permits $ value permits $ value permits $ value permits $ value permits $ value Unincorporated $1,620, $10,296,945 Daytona Beach 3 28,387, ,280, ,400, ,208, ,322,934 Daytona Beach Shores , DeBary , ,237, ,098,000 DeLand 1 21, ,243, ,365, ,420, ,000,000 Deltona 1 1,417, ,216, , , Edgewater 2 143, , Holly Hill ,500, Lake Helen New Smyrna Beach 2 1,071, ,480, ,913, ,562, ,034 Oak Hill Orange City 2 371, , Ormond Beach 4 11,347, ,123, , ,578, ,315,746 Pierson Ponce Inlet Port Orange 5 2,043, , ,986, ,803, ,341,687 South Daytona , totals for quarter 20 $44,802, $10,800, $25,917, $40,092, $161,772,346 Source: cities and county permit offices. Permits listed reflect new construction only. page 9
12 Residential and commercial foreclosures in Volusia County new foreclosures sales of foreclosed properties 1,200 1, homestead residential non-homestead residential commercial 900 all residential commercial Source: Volusia County Clerk of the Circuit Court, Civil Court Operations page 10
13 A few of the world class companies in Volusia County Covidien revenues of $9.9 billion and 38,000 employees worldwide. U.S. corporate headquarters in Massachusetts. Companies, October 2013, and winner of worldwide Thompson (October 1963). View recent video at floridabusiness.org/bizbeat.htm. Teledyne Oil & Gas THOMSON REUTERS 2013 TOP 100 GLOBAL INNOVATORS HONORING THE WORLD LEADERS IN INNOVATION FINDINGS AND METHODOLOGY OCTOBER 2013 $2.13 billion. Instrumentation segment contributed 35 percent. $9 million, 52,000 square foot technology development center, near their existing 100,000 square foot manufacturing facility, in Daytona Beach. engineering and technical experience, in Daytona Beach. View recent video at page 11
14 Just plane easy Bring a meeting home Whether you fly for business or pleasure, there is no more convenient way to fly than to and from Daytona Beach International Airport (D ). In fact, you could reach your destination before you can drive to another airport. Daytona Beach International Airport is convenient to Volusia County and all of Central Florida. Parking is easy and affordable. Security is fast. D is served by Delta Air Lines and USAirways. Fly nonstop to Atlanta or Charlotte, and connect to the rest of the world. Visit flydaytonafirst.com for schedules and information. If you belong to an organization that hosts out-of-town meetings or conventions, why not meet in your own back yard? You can help bring a meeting home. The Ocean Center is a world-class meeting and convention complex. It has everything your organization needs for a successful and affordable event great hotels nearby; colorful area restaurants; family-oriented attractions; championship golf; magnificent beaches, and convenient flights to and from Daytona Beach International Airport, Central Florida s preferred airport. So, if you attend an out-of-town meeting or convention, be a hometown hero. Bring a meeting home. 700 Catalina Drive Suite 300 Daytona Beach, FL flydaytonafirst.com 101 North Atlantic Avenue Daytona Beach, FL oceancenter.com Report published quarterly by Volusia County Economic Development Daytona Beach International Airport, 700 Catalina Drive, Suite 200, Daytona Beach, Florida or floridabusiness.org Digital copies of this publication are available from Q to present at floridabusiness.org/stats.htm. Volusia County permit data tracking (new construction only) from is available by request.
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