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Orlando's Economy

Aside from the tourism industry, the convention industry  flourished and in 2004, the orange County Convention Center expanded to over two million square feet (200,000 sq. m) of exhibition space.  Now, in terms of  space, it ranks second largest convention complex in the United States.  For hosting the most  convention attendees, it competes with Chicago and Las Vegas.

Orlando's Economy

Many industries besides Tourism.

Besides tourism and convention center, there are other industries in the area like manufacturing, film, television, and electronic gaming industries and video companies.
 
A large manufacturing facility for missile systems, aeronautical craft and high tech researches is owned  by Lockheed-Martin. Many computer software and hardware firms such as IBM and Oracle and other notable engineering offices have offices or labs in the Central Florida area: KDP, General Dynamics, Harris, Westinghouse, Siemens, Veritas/Seagate, multiple USAF facilities, Naval Air Warfare Center Training Systems Division (NAWCTSD),  Delta Connection Academy, Embry-Riddle Aeronautical University, GE, Air Force Agency for Modeling and Simulation  (AFAMS),  Army Simulation Training and Instrumentation Command (STRICTOM), AT &T, Boeing, CAE Systems Flight & Simulation Training, HP, Institute for Simulation and Training, Northrop Grumman, Raytheon Systems, The Naval Training Center  is now converted to the Baldwin Park.

Film, Television and Gaming Industries.

The presence of Universal Studios, Disney MGM Studios, Full Sail School, and other entertainment companies aided the film, television and gaming industries.  Other offices have popped up along the Interstate 4 corridor north of Orlando, in Maitland, Lake Mary and Heathrow.  The U.S. modeling, simulation and training (MS&T) industry is centered in Orlando region, especially in the Central Florida Research Park adjacent to UCF.

Tiburon, a division of Electronic Arts video game company is in Maitland.  Formerly a partner of EA in the famous Madden NFL and NCAA football series of video games, it was acquired by EA in 1998.  There were rumors of moving its corporate HQ to Orlando.

A very low unemployment rate.

Orlando Regional Healthcare  and Florida Hospital are two non-profit hospitals of Orlando.  ORH’s  Orlando Regional Medical Center has the only Level 1 trauma center, and the Winnie Palmer Hospital for Women and Babies, the only Level 3 neonatal intensive care unit in the area.  One of the best hospitals in the nation, Florida Hospital campus has a renowned brain attack facility.  With the completion of UCF’s College of medicine, Orlando’s medical leadership is expected to  advance further.

The very low unemployment rate in Greater Orlando , 2.8% as of  October 2006, resulted to an explosive growth and urban sprawl and  skyrocketing housing prices. House prices went up to a 34% increase in one year, from an average of $182,000 in August  2004 to $245,000 in August 2005, reaching a record of $259,000 in October 2006.

Young adults, especially those in the lower class are have a hard time finding housing units in Orange County.  One has to earn at least a $20 per hour wage to afford the rent for a single bedroom apartment.

Corporate Headquarters in Florida.

Among the companies and organizations that have their corporate headquarters or a major presence in the area are the following:

- AAA
- AirTran
- Campus Crusade for Christ
- Cendant Timeshare Resort Group
- Central Florida Property Managers Association
- Darden Restaurants, Inc.
- Electronic Arts
- Gaylord Entertainment
- Hard Rock Cafe
- Hewitt Associates LLC
- Hilton Grand Vacations Club
- Hughes Supply Incorporated
- Kessler Collection
- Harcourt Trade Publishers
- Intrawest
- Lockheed-Martin
- Loews Hotels
- Luctor International
- Marriott Vacation Club International
- NBC Universal
- Planet Hollywood
- Reed Elsevier
- Ruth's Chris Steakhouse
- Scholastic Book Fairs
- Siemens AG Power Generation
- Starwood Vacation Ownership
- SunTrust Bank
- Symantec
- T.G. Lee Dairy
- The Golf Channel
- Tupperware Corp.
- The Walt Disney Company
- Westgate Resorts
- Wycliffe Bible Translators


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