Corridor In The News

Study: GrowFL helped create 1,458 jobs

South Florida Business Journal
Friday, February 4, 2011

In its first year, GrowFL helped create 1,458 jobs, contributing than $280 million in economic impact statewide, according to a study commissioned by the Florida High Tech Corridor Council.

The goal of the organization, which was funded in November 2009 following a special session of the Florida Legislature, is to stimulate investment in Florida’s economy by providing a free suite of economic gardening services.

The study also found that GrowFL helped generate $8.4 million in state and local taxes, representing a nearly 6-to-1 return on the state’s original investment of $1.42 million.

“The results of this program demonstrate how economic gardening can be used as part of a successful economic development strategy to grow jobs and strengthen the small business landscape,” said Randy Berridge, president of the Florida High Tech Corridor Council.

Companies in the professional, scientific and technical services industry reported creating the most positions out of every business sector since first becoming engaged with the GrowFL program.

“GrowFL has allowed me to take advantage of the downturn in the economy by providing strategic and tactical support through the technical assistance program and CEO roundtables,” said Doug Brown, president of Hollywood-based Florida Supplement, who said his company added 20 positions since being accepted to the GrowFL program.

“In 2010, Florida Supplement grew by more than 80 percent, and more than doubled the number of its employees. Fortunately, the nutritional supplement industry has remained strong throughout these challenging times and Florida Supplement continues to grow and take market share with the help of a strong virtual team from GrowFL that costs us nothing.”

GrowFL is a regional economic development initiative of the University of Central Florida, University of South Florida and University of Florida.

http://www.bizjournals.com/southflorida/news/2011/02/04/study-growfl-helped-create-1458-jobs.html