Central Florida to Withstand Economic Downturn
As other markets around Florida begin to feel the heat of a crumbling real estate market, the greater Orlando commercial real estate market in Orange and Seminole counties should be able to weather the worst of the storm. This is according to Palm City Economist William Furth.
According to Furth, areas such as Orlando, Jacksonville and the Tampa-St. Petersburg areas will do much better than South Florida which he believes is headed for an "economic meltdown". In Central Florida, Orange and Seminole counties will be more resistant to the economic decline because they are more diversified and have a balanced industry make-up compared to Osceola and Lake counties whose economies rely heavily on real estate.
A seperate forecast from the Director of the Institute for Economic Competiveness at the University of Central Florida, Sean Snaith, indicates a slow first half for 2007 but overall employment growth of 2.5 percent between now and 2009. According to Snaith, Orlando will be the strongest region in the state in the coming years.
According to Furth, areas such as Orlando, Jacksonville and the Tampa-St. Petersburg areas will do much better than South Florida which he believes is headed for an "economic meltdown". In Central Florida, Orange and Seminole counties will be more resistant to the economic decline because they are more diversified and have a balanced industry make-up compared to Osceola and Lake counties whose economies rely heavily on real estate.
A seperate forecast from the Director of the Institute for Economic Competiveness at the University of Central Florida, Sean Snaith, indicates a slow first half for 2007 but overall employment growth of 2.5 percent between now and 2009. According to Snaith, Orlando will be the strongest region in the state in the coming years.
posted by CFCB at
11:07 AM
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