Orlando | Capital Analytics Associates

Spotlight on: James Michael Burkett, President, Florida Technical College

By: Yolanda Rivas

Since 1982, Florida Technical College (FTC) has been meeting the needs of students and the job marketplace. At times of low unemployment rates across the nation, educational institutions like FTC play a significant role in providing students the necessary skills businesses are looking for. In an interview with Invest: Orlando, FTC’s President James Michael Burkett discussed the most in-demand programs and how they support the local workforce.

What differentiates Florida Technical College from other educational institutions in the area?

We support people who want to acquire technical job skills that can get them into the job market more quickly. That is one of our main advantages. Our locations in Central Florida have seen unprecedented growth, particularly in our hospitality program because many of the positions in these fields require the technical skills we help students acquire, rather than a traditional four-year degree. Another big advantage for the school is our Spanish language vocational and technical programs. These programs have allowed us to assist the Spanish-speaking population that has migrated to Central Florida over the last few years.

What are some of your efforts to attract and retain talent in Orlando?

We partner with several chambers to make sure that employers in the area understand what we have to offer. That has been a great advantage to both students and employers. We are seeing unprecedentedly low unemployment rates and one of the main challenges employers are facing is finding qualified talent. We communicate with local businesses from different industries to ensure our students have the skills they need.

Which Florida Technical College programs are seeing the most growth?

Electrical has been one of the fastest-growing programs at Florida Technical College. We have been able to scale that program quickly to meet demand and by the beginning of next year it will be available at most of our campuses. Construction trades and the Spanish language vocational programs also have been areas of growth for us and we expect that to continue in 2020. There is also a big need for culinary skills and we are expanding our capacity for that program as well. With numerous restaurants and hotels opening in the region, we are looking to provide the talent pipeline they need.

To learn more about our interviewee, visit:

Florida Technical College: http://www.ftccollege.edu/

Why Orlando is an ideal city for esports hub

By: Yolanda Rivas

Over the last few years, Orlando has been increasing its presence in the esports scene. Already home to numerous simulation, training and tech companies, there’s no doubt about the City Beautiful’s potential as a main driver in the gaming arena.

One of the pillars in Orlando’s gaming scene has been Full Sail University. The institution opened The Fortress last May, which is the largest esports arena on a college campus in the nation. Since then, it has attracted several major events like an NBA 2K League competition and a qualifying event for the Red Bull Conquest.

“When we were planning and building The Fortress, we knew, like other facilities on campus, it would need to function as a professional-caliber facility since we are educating our students to work in the real world,” said Full Sail President Garry Jones in an article from the Orlando Sentinel.

Although the esports boom is just starting and there’s only a handful of arenas in the country, these events represent a boost to the economy, especially with the presence of teams and fans attracted by the tournaments.

A recent report from WalletHub ranked Orlando as the fourth-best city for gamers and No. 2 for gaming environment. The study compared the 100 largest U.S. cities across 23 key indicators of gamer-friendliness.

Our Picks: 5 fun things to do in Orlando on Thanksgiving

By: Yolanda Rivas

2 min read November 2019— There are a few debates around Florida being home to the first Thanksgiving dinner. Some believe it was hosted in St. Augustine in September 1565, when Spanish and Timucuan tribesmen shared a meal that is considered the first community act of religion and thanksgiving. Others believe that the first Thanksgiving was celebrated in 1564 near Jacksonville, when Frenchmen established a colony and were welcomed by Timucuans. Truth or not, what is sure is that Orlandoans celebrate Thanksgiving in many diverse and fun ways. These are our Top 5 picks of fun activities to do in Orlando this Thanksgiving weekend.

Turkey trots

There are a few turkey trots in Orlando this week. What a fun, family-friendly and different way to enjoy Thanksgiving activities! This is also a nice way to give back to the community and support fellow citizens. Seniors First Turkey Trot 5k at Lake Eola and Avalon Park Foundation 5k Turkey Trot are some of the most anticipated turkey trots in the area. Seniors First’s trot has become one of the oldest and largest 5k fun runs in Orlando, attracting over 5,000 runners. It benefits Seniors First Programs like Meals on Wheels, In-Home Care and others. The proceeds from the Avalon Park trot will benefit neighborhoods, community organizations and the underserved in surrounding neighborhoods.

Harry P. Leu Gardens

If you are looking for a more calm experience, Leu Gardens will be open on Thanksgiving Day. It will feature The Nature of the Game exhibit, which is a fun interactive exhibit of life-size games with a twist, as described on their website. The location is comprised by a 50-acre botanical garden, including a butterfly garden, a tropical rainforest, and what is considered Florida’s largest formal rose garden. The garden and the historic Leu House Museum were donated to the City of Orlando in 1961 by Harry P. Leu and his wife, Mary Jane.

Theme park celebrations

As Thanksgiving marks the start of the Christmas season in Orlando, theme parks have numerous events to enjoy the magic of the holidays. From live entertainment to unique international cuisine options to shows featuring animation characters, theme parks kick off the start of the Christmas season in a big way. You wouldn’t want to miss the spectacular decorations and Christmas lights that attract thousands of visitors every year.

Light up UCF

Running through Sunday, Jan. 5, Light Up UCF offers activities for all ages. This year’s festival features an ice rink, a world-class choreographed light show, free holiday movies, live entertainment, rides like the Ferris wheel, Light Up Express kids train, and a carousel. The festival takes place at Addition Financial Arena in a family-oriented atmosphere.

Thanksgiving dining

As the No. 1 Thanksgiving traveling destination in the country, you have plenty of options to taste a wide variety of local and international plates. Whether you’re staying in the International Drive tourism district, near the theme parks or looking for a destination experience, there are great restaurants with Thanksgiving dining options to pick from. Universal CityWalk, Disney Springs, ICON Park and nearby towns Winter Park and Mount Dora are spots with a number of restaurants in one place.

To learn more, visit:

Seniors First Turkey Trot 5k: https://www.trackshack.com/event/240

Avalon Park Foundation 5k Turkey Trot: https://downtownavalonpark.com/event/2019-turkey-trot/

Harry P. Leu Gardens: https://www.leugardens.org/leu-gardens-is-open-thanksgiving-day-2/

Light Up UCF: http://www.lightupucf.com/

Return to Invest: Orlando

Spotlight On: Kevin Miller, President & CEO, Addition Financial

By: Yolanda Rivas

2 min read November 2019 — As the banking sector gets more concentrated, some financial institutions are implementing rebranding efforts to meet the demands of customers and keep up with the latest innovations and technologies. Addition Financial recently went through a rebranding effort and is now focusing on expanding its footprint. President and CEO Kevin Miller shared the financial institution’s latest updates with Invest: Orlando.

What has been the impact of rebranding as Addition Financial?

In the last year we have made multiple changes, the biggest being our transition from a federal charter to a state charter. The state of Florida has a business-friendly environment and they were able to offer us some additional regulatory flexibility, for example a much larger territory and additional flexibility in the way we conduct our business and investments. We changed our name from Central Florida Educators Federal Credit Union to Addition Financial. We have also been expanding our footprint and recently acquired a small bank. These efforts have been part of our focus on expanding our presence throughout Central Florida.

We are focusing on our name change and rebranding effort to make it clear that more people can join the credit union. The rebranding has been positive, we have more people joining us and our new message, image and culture have been well-received. We have been in Orlando for more than 80 years. We have a great relationship with the community, which is vibrant and growing at a rapid pace. The diversity of culture in Orlando, provides us with numerous opportunities to continue our expansion and reach more people.

What differentiates Addition Financial from the competition?

As a credit union, we are a not-for-profit financial institution, which means that our motivations are different than the for-profit institutions. A differentiator for us is our focus on the community and our educational ties. When we interact with our members we focus on the educational aspect. We support education and we also make sure that we educate people about financial literacy. We partner with K-12 schools in Orange, Osceola and Seminole counties and we have student-run branches in some high schools in each of those counties. We train the students to run the branch and teach financial literacy to their peers. We also have a program to educate college students on meeting their unique financial needs. In addition, we are working on housing affordability with these partners. We partnered with the districts to create a custom program to help teachers live in the communities where they work.

What are some notable changes in Orlando’s banking and finance sector over the last few years?

A lot of the people who come into our branches are surprisingly young. The younger generations are looking for consulting and advisory types of services, while the older generation comes to our branches mostly for transactions. In terms of services, we have seen an uptick in small business demand. We focus on smaller businesses that maybe don’t feel like they have enough size or capital to go to some of the larger financial institutions. Lending is at an all-time high for us. We are seeing a lot of refinancing, especially with interest rates being so low.

To learn more about our interviewee, visit:

Addition Financial: https://www.additionfi.com/

Return to Invest: Orlando

Spotlight On: Sam Miles, First Senior Vice President, Central Florida Regional President, Valley Bank

By: Yolanda Rivas

2 min read November 2019 — Central Florida’s economic growth has driven many financial institutions to rebrand and adjust to the latest innovations and client needs. That is the case of Valley Bank. In a discussion with Invest:, First Senior Vice President Sam Miles, who oversees the regional bank’s Orlando and Jacksonville markets, addressed trending business areas for the bank, the impact of its Professionals Group and the bank’s branch rebranding effort.

Which of the bank’s lending areas are seeing the most demand?

Our largest piece of business revolves around commercial real estate financing. There is a significant amount of capital being invested in real estate in Central Florida. As an example, there are 38 new multifamily projects either under construction or in the planning stages that represent $1.7 billion in investment. That growth, combined with strong employment, is creating high demand for residential developments, and we are very active in multifamily construction lending. In the last year, we also expanded our SBA team to help address the small-business lending market in Orlando. We have a full array of professionals in place with expertise in residential lending and SBA lending to complement our commercial real estate and C&I teams.

What are your expectations for the relaunched Professionals Group?

With the relaunching of the Professionals Group we’re trying to reach an affluent population that we haven’t specifically targeted previously. The Professionals Group is a team of commercial lenders dedicated to customizing products and services for any

group of professionals, including doctors, attorneys, accountants and centers of influence operating throughout our bank’s footprint. It can be a wonderful source of referrals and, by establishing relationships with these professional groups, we will be able to drive new business.

How is Valley Bank improving customer experience?

We are in the process of rebranding and redeveloping our branches to make them more user friendly. Clients will no longer have the traditional walk-in when they visit our branches. We are providing a modern feel with a warm and welcoming setting. Each branch that we are building now is going to have that model. We are also refurbishing existing branches to fit a more modern and welcoming environment. These new branches fit the trend of people wanting a different, fast-paced environment.

How does Valley Bank give back to the Orlando community?

We’ve played a big part in LIFT Orlando, and the redevelopment of the West Lakes area. We have been heavily involved in financing the projects there that are revitalizing that community. That is a wonderful community effort and we’re proud to play a part in it. Our team also spends a lot of time in the community with local groups such as The Ronald McDonald House, Second Harvest Food Bank and The Coalition for the Homeless. We provide paid days off to encourage our employees to volunteer and give back to the communities where we serve.

To learn more about our interviewee, visit:

Valley Bank: https://www.valley.com/

Return to Invest: Orlando

Face Off: Education Updates to Keep Feeding Orlando’s Growing Job Market

By: Yolanda Rivas

2 min read November 2019— Orlando has ranked among the country’s fastest-growing job markets for several years and it is also ranked by Forbes as the No. 3 city for future job growth. To continue its recognition as a great job market, there is a need for qualified talent with the necessary skills for the jobs of tomorrow. Invest: Orlando recently spoke with leaders of two major colleges in the area: Grant Cornwell, president of Rollins College, and Georgia Lorenz, president of Seminole State College of Florida, to learn about the efforts to feed the local talent pipeline.

What academic programs are seeing the most demand?

Grant Cornwell: Overall, we’re seeing increasing demand for our future-proof brand of liberal arts education. In terms of majors, our most popular programs include biology, communication studies, psychology, and our three undergraduate business degrees: business management, international business, and social entrepreneurship. That last one, social entrepreneurship, is one of our fastest-growing majors, and it was the first program of its kind to earn accreditation from AACSB International, which is the gold standard for business education. It teaches students how to apply business skills and entrepreneurial thinking and action to tackle social and environmental problems around the world. That is very appealing to this generation of students who want the tools to solve some of the global challenges that they’re inheriting and who want to make a positive impact in their lives and careers.

Georgia Lorenz: Healthcare in general is one of the fastest-growing areas. As the Central Florida region continues to grow, there is a need for an additional 1,000 bachelor’s degree-trained nurses each year for the next decade. Our bachelor’s degree in health sciences is also experiencing great demand because it prepares students for a variety of health-related careers. We also launched our hospitality management program in fall 2019, to meet the high demand for restaurant and hotel management professionals. In the area of technology, our mechatronics and robotics program continues to expand. We want our students to be able to adapt as the industry changes. In spring 2020, we’re going to start a new focus area in simulation, which is a huge industry in Central Florida. Another area of growth for us is cybersecurity, which leads to great job opportunities.

What are you efforts to attract and retain talent in Orlando?

Georgia Lorenz: First and foremost, the tremendous population and economic growth in Orlando represents an incredible opportunity for our students and graduates. At Rollins, we’re preparing graduates who are not only uniquely prepared to thrive in this dynamic economy right away but are also ready to help Orlando reach even greater heights through lifelong leadership. Second, Orlando’s growth is providing our students more and more opportunities to put their ideas to work in the world. Every semester, our students gain professional experience through internships at some of the world’s most innovative companies and organizations right here in Central Florida — from ALDI and NASA to Universal and The Walt Disney Co. Rollins’ also boasts some of the best community-engagement programs and initiatives that you’ll find at any college anywhere in the country. Every single day, our students partner with local and national organizations to create positive change in our community. In the process, they not only learn the importance of engaged citizenship but also develop experience that will give them a competitive advantage in the job market.

Grant Cornwell: Research has shown that the better education ecosystem a region has, the more likely they are to attract new businesses and retain the businesses that are already in the area. Seminole State continues to work closely with Seminole County Public Schools to create pathways for our students throughout their school careers and into higher education. As the population and the business community grow, we will need more professionals in a number of industries. And we are making sure we provide the talent to these new and emerging areas to help with the social and economic infrastructure of Central Florida. We are using technological advances to serve our students more effectively. We’re always looking for new software or innovations to better serve our students. Every program at Seminole State has an advisory board, made up of local business leaders and faculty members, to ensure that we’re preparing our graduates for the jobs of tomorrow. We also prepare students with hands-on learning experiences through internships and work-based problem solving to give them real world experiences with the latest technologies before they graduate. That’s something that distinguishes a Seminole State educational experience from many other institutions.

To learn more about our interviewees, visit:

Rollins College: https://www.rollins.edu/

Seminole State College of Florida: https://www.seminolestate.edu/

Return to Invest: Orlando

Spotlight On: Gary Gagnon, President & CEO, Gagnon Development

Writer: Yolanda Rivas

2 min read October 2019 — Gary Gagnon’s family has been involved in the real estate industry since the 1930s. Gagnon decided to follow in his family’s footsteps by creating Gagnon Development, LLC and Gagnon Real Estate Investments, LLC. He also specializes in commercial income producing property in Central Florida. In an interview with Invest:, Gagnon described the benefits and strength of Orlando’s real estate sector.

How would you describe the strength of Orlando’s real estate sector today?

Orlando’s real estate sector is stronger than most, since it is somewhat in a protective bubble because of being mostly tourism-driven, though we are actively trying to attract more tech-related businesses. Our unique location and economy protects us whenever there is a slowdown or recession. With low interest rates and prices increasing for commercial and residential real estate, fear is beginning to spread and people are starting to question if it is time to sell. Luckily, if the whole country takes a hit, I think Orlando is somewhat protected and should not be as harmed as much as the rest of the country would be.

Lenders are starting to get over their fears and they are starting to have a hunger to loan but are still being cautious and require larger down-payments or cross collateralization. Development is booming and we are seeing a high amount of capital in A-class products. However, the growth of new office space in Orlando has been historically stagnant and there is not enough large office space available. Orlando has several new office projects in the works, which should help satisfy the demand for new office space. Many of our international clients are choosing to build new office space instead of renting since it is less expensive than leasing at current rates. Orlando also provides an opportunity for investors to generate high cash flow with less investment dollars when compared to other cities such as Miami and New York.

Which markets are seeing the most demand in Orlando?

Apartments continue to see great demand. E-commerce and big chain retailers transitioning to or expanding their online sales footprint have created an increased demand for large industrial space. We usually do build-to-suit projects specifically for a client’s needs, but we recently worked on a speculative flex space project with a client. That project consisted of smaller spaces with an office and showroom in the front and warehouse in the back. Along with the client, we were able to sell five of eight units before completing construction. A trend we are seeing in industrial is the smaller the square footage you build, the faster you lease or sell it. There is a demand for flex space and we are looking to expand in that area. Warehouses are in high demand, too. Many larger investors are looking for warehouses that have rail access. Office building is just now hitting its stride. Public storage is keeping up with supply and demand but we don’t see above average growth in that sector. Overall commercial real estate in Orlando is in very high demand and there is more demand than there is supply.

To learn more about our interviewee, visit:

Gagnon Development LLC: http://www.gagnondevelopment.com/

Return to Invest: Orlando

Healthcare Sector Rapidly Expanding in Orlando

Writer: Yolanda Rivas

2 min read October 2019 — Orlando’s population has increased rapidly over the last few years, making it one of the fastest-growing metro areas in the United States. As the city continues to grow, local healthcare organizations are immersed in numerous expansion and improvement efforts.

The region’s main health providers have been expanding their partnerships, free-standing emergency rooms (ER), specialized centers and hospitals. The Invest: team recently met with Daryl Tol, president and CEO of AdventHealth Central Florida Region, who pointed out some of the fastest-growing areas of service and care in Orlando.

“We have added quite a number of free-standing locations with doctors and emergency services in areas of need, instead of having to build a whole hospital. We are growing in our academic work around community cancer research. The cardiovascular institute is seeing high demand as well. We are also redefining our primary care model to include virtual care, which will allow patients to connect via video or text messages with their doctor,” Tol said.

AdventHealth opened the Waterford Lakes ER on Sept. 27, which is its fourth free-standing ER in the area. The hospital also announced plans to build an 18,400-square foot, 24-bed hospital-based emergency department in Port Orange for adults and children, and has the Oviedo ER set to open in the next few weeks. AdventHealth has also partnered with Moffitt Cancer Center to improve cancer care and establish a clinical research facility and chemotherapy/immunotherapy infusion program at AdventHealth Celebration.

Orlando Health is also deploying a high amount of capital in expansions and new developments. The $3.8 billion not-for-profit healthcare organization recently opened Orlando Health Emergency Room and Medical Pavilion – Lake Mary. The 25-room ER can manage a majority of emergencies, from minor trauma to broken bones. The adjacent medical pavilion will offer several specialties including, pulmonology, pediatrics, obstetrics and gynecology, urology, orthopedics, general surgery, cardiology, and cardiac rehab. The second phase of this campus is already in development with the construction of a hospital expected to begin in the spring of 2020. Orlando Health has a total of six free-standing ERs either under construction or completed in Central Florida.

The community-based network of hospitals also opened the Orlando Health UF Health Cancer Center last summer, bringing advanced cancer treatment to residents of Osceola County.

Tennessee-based healthcare provider HCA Healthcare also opened its third free-standing ER in Millenia on Sept. 18. According to an Orlando Business Journal article, HCA plans to build a 12-bed emergency department in Davenport, which is expected to open in 2020. HCA has also partnered with the University of Central Florida to build the UCF Lake Nona Medical Center, which is expected to open in the fourth quarter of 2020.

As Orlando’s population continues to rise and the healthcare sector remains highly competitive, it is expected to continue to see a high amount of healthcare-related construction and development in the region.

To learn more about our interviewees, visit:

AdventHealth: https://www.adventhealth.com/

Orlando Health: https://www.orlandohealth.com/

HCA Healthcare: https://hcahealthcare.com/

Return to Invest: Orlando

Spotlight On: John Crossman, CEO, Crossman & Company

Writer: Yolanda Rivas

2 min read October 2019 — The retail sector has remained steady in Orlando over the last few years. Far from affecting physical stores, e-commerce has contributed to the growth of many businesses and the retail market. Crossman & Company is a commercial real estate firm focused on serving retail landlords exclusively throughout the Southeast. CEO John Crossman spoke recently with the Invest: team about the performance of the Orlando and Central Florida retail sector and its latest trends.

What are some trends and advantages of Orlando’s retail sector?

Retail is interesting in that it follows growth from other market sectors. When you look at the real estate industry, typically jobs lead, then housing and then retail. When you look at a market, there are two specific factors to consider in terms of retail performance: the number of people moving and vacationing in the area. If those two numbers are up, then there will probably be an up retail market. In Orlando, those numbers keep going up and the retail market is doing very well. In central Florida, we have healthy demographic growth and a big tourism industry that is making the retail sector substantially bigger. Orlando has one of the highest timeshare markets in the world and the exponential factor of tourist retail is amazing.

There is also what we call “the halo effect,” which happens when an online retailer opens physical stores and, most times, their online sales go up. Similarly, when an online retailer closes physical stores, their online sales go down. When customers buy something online and return it to a physical store, they typically end up spending more money in the store. In the Orlando area, we’re not seeing people radically closing stores. We are seeing a combination between their physical and online presence.

What areas of Orlando are seeing the most demand in retail real estate?

The areas that are closest to the I-4 corridor have typically done well. As more beltways have been added over the years, that has spurred additional growth. Submarkets like Oviedo, Lake Mary, Clermont and Kissimmee have done well, too, due to their proximity to the corridor’s beltways. I don’t think you can talk about Orlando’s retail without talking about Lake Nona. There’s no doubt that that area has a major significance. Retail activity starts with jobs, then residential and retail, and there are numerous jobs and growth in Lake Nona. In the tourism area, some significant deals were closed recently, specifically on International Drive and Disney. Disney Springs and Park Avenue Winter Park are some of the best retail experiences in Orlando.

What are some challenges facing the retail real estate industry in Orlando?

The retail industry overall is doing well. Yet, it’s very dynamic and it can become overwhelming. The industry has significantly changed so much and now is more similar to that old school, post-1950s retail, where retail surrounded a property that was growing up in a certain area. We used to talk about mixed-use developments, but now we have the mixing of uses in developments. Now, you can have a retailer, medical providers, educational institutions, religious organizations and a different mix of tenants in the same place. That makes for healthier retail, but it also can be complicated due to the many dynamics in the same place. Another challenge is technology, augmented reality, and the rapid pace of innovation. We need to get together as an industry to explore the future impact of new technologies in the retail sector.

To learn more about our interviewees, visit:

Crossman & Company: https://www.crossmanco.com/

Spotlight on: James Michael Burkett, President, Florida Technical College

Why Orlando is an ideal city for esports hub

Our Picks: 5 fun things to do in Orlando on Thanksgiving

Spotlight On: Kevin Miller, President & CEO, Addition Financial

Spotlight On: Sam Miles, First Senior Vice President, Central Florida Regional President, Valley Bank

Face Off: Education Updates to Keep Feeding Orlando’s Growing Job Market

Spotlight On: Gary Gagnon, President & CEO, Gagnon Development

Healthcare Sector Rapidly Expanding in Orlando

Spotlight On: John Crossman, CEO, Crossman & Company

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