Top 5 Orlando Business News You Should Know This Month
Orlando, Florida, is known for its theme parks and tourists attractions, but it is also home to a thriving business scene. As the city evolves and grows, there are always new developments in the entrepreneurial world. In this article, we’ll go over the top 5 Orlando business news stories you should know this month.
1. Orlando’s Tech Scene is Thriving
According to a recent report by the Orlando Economic Partnership, the city recorded a 20% increase in tech industry jobs over the past five years. The report also shows that tech industry employment in Orlando is growing at a rate of 3.6% annually, faster than the national average of 2.1%. With the presence of University of Central Florida’s top-rated engineering school and a supportive business environment, it’s no surprise that companies like Verizon and Amazon have chosen Orlando as a base for their operations.
2. Orlando’s Hospitality Industry Rebounds Despite COVID
The COVID-19 pandemic has had a significant impact on Orlando’s tourism industry, which is a major source of revenue for the area. However, the city’s hospitality industry has shown remarkable resilience in the face of adversity. According to Visit Orlando, hotel occupancy rates have been steadily increasing since the beginning of the year, and Florida’s theme parks are reporting higher attendance numbers. The return of tourists is a promising sign for the local economy.
3. Orlando’s Real Estate Market Booming
Orlando continues to see a surge in real estate demand. With a high quality of life, affordable housing, and a growing job market, many people are choosing to make the city their permanent home. According to Zillow, the median home value in Orlando is currently $295,000, up 11.8% from last year. Additionally, the construction of new properties is underway, with several major projects in progress, including the Skyline Apartments in downtown Orlando and The Packing District, a 202-acre development in the west of the city.
4. Orlando to Host Major Entrepreneurial Event
Orlando is set to host StartUp Week, a week-long event aimed at promoting entrepreneurship and innovation in the city. The event will feature seminars, workshops, and networking opportunities for entrepreneurs, investors, and professionals. Hosted by the Orlando Economic Partnership, StartUp Week is a great opportunity for local startups to showcase their businesses and meet potential investors.
5. Orlando-based Companies Making National Headlines
Several Orlando-based companies have made headlines on a national level recently. Fattmerchant, a payment technology company, raised $30 million in funding to expand their operations. The medical wearable technology company, BioSensics, secured a $750,000 grant from the National Science Foundation to further develop their products. These success stories demonstrate the growing entrepreneurial spirit of the city.
Conclusion
In conclusion, Orlando’s business scene is booming, with the tech, hospitality, and real estate industries continuing to grow. The entrepreneurial ecosystem of Orlando is also thriving, making the city an attractive destination for startups and investors. As Orlando’s economy continues to diversify, there is no doubt that we’ll be seeing more exciting business news updates in the future.
