1. Office of Economic, Trade and Tourism FY 07-08 Budget Worksession July 19, 2007

2. Economic Conditions

3. Economic Development Strategy Map

4. UCF Institute for Economic Competitiveness Goal: Become one of the top 10 centers for regional economic research. New Institute Director Dr. Sean Snaith on survey panels of USA Today, Federal Reserve Bank of Philadelphia. U.S. & Florida Forecasts Forecasts for 12 Florida Metros Forecasts coming for 4 Metro Orlando counties Search under way for Orange County Endowed Chair www.iec.ucf.edu Visit the Institute’s website and see it featured on CNBC.

5. UCF Technology Incubator University-driven community partnership to support early stage technology companies. 70,000 square feet. Graduating companies = 21 Jobs created by Incubator companies = about 800 Average salary = $59,000 Investment secured = $160,000,000 Annual revenues = $250,000,000 Incubator companies received 1/3 of all Dept of Defense SBIR/STTR R&D contracts awarded in Florida last year. www.incubator.ucf.edu

6. UCF Technology Incubator Clinical diagnostic laboratory Started with 2 employees and no revenues Current employment = 82 2007 revenue = $10 million Expanding and moving into a new building Space / telecommunications Financial management support Connections to UCF faculty and students for business plan development and marketing analysis Personal business skills training for management team Success Story: Cognoscenti Health Institute Assistance from the Incubator included:

7. UCF Technology Incubator Innovative cooling system that improves performance of solid-state lasers. Developing miniature personal cooler for soldiers and first-responders wearing protective clothing. Founder came to UCF on a water skiing scholarship, received his PhD, and was one of the first Incubator clients. Number of employees at startup = 1 Current number of employees = 17 2007 Revenues = $3 million Purchased a new building and is expanding. Success Story: Rini Technologies

8. UCF Orange County Venture Lab Purpose: nurture new company start-ups and spin-outs from within the university. Important now that UCF exceeds $100 million a year in research. 2,000 sf on first floor of College of Business Administration. www.venturelab.ucf Director, 5 paid coaches, 2 volunteer coaches, and student interns in marketing, nano-science, computer science, engineering, and other areas — interdisciplinary teams. Watch for these new companies in the news: Therigy, ePedigree Software, Stormwater Treatment Environments, Inc., and a yet unnamed company in the area of cancer bio-markers.

9. UCF Small Business Development Center In partnership with the SBA, provides business seminars and free one-on- one counseling to small businesses in an 8 county area. Orange County Economic Stimulus Package: Elevated level of seminars and workshops to Orange County businesses after 9/11. www.bus.ucf.du/sbdc Advanced offerings in business strategy, marketing strategy, e-commerce, doing business with local government, and disaster planning — over 1,200 participants to date.

10. Location of participants in Orange County-sponsored SBDC workshops

11. UCF Advisory Board Council Program Free advisory boards for companies in Orange County 25 active boards in construction, manufacturing, retail, services, technology, and wholesale. 106 advisors on active boards 89 companies have had boards since 2003 383 advisors have participated Advisors have contributed 8,096 hours of their time = $1 million Selected as 2004 Program of the Year by the International Economic Development Council

12. UCF Advisory Board Council Program Successes Screenworks USA Employment increased from 36 to 43 Revenues increased from $4.2 million to $5.8 million Selected 2004 SBA Florida Small Business of the Year Apex Environmental Engineering & Compliance Employment increased from 21 to 29 Revenues increased from $3.1 million to $6 million Selected 2007 SBA Florida Small Business of the Year American Home Companions Employment increased from 92 to 140 Revenues increased from $3.7 million to $6 million

13. BBIF Black Business Investment Fund Mission: To develop and promote Black business enterprises. Founded through the Florida Small and Minority Business Act of 1985. Direct loans, loan guarantees, technical assistance, and advocacy Technical assistance and one-on-one counseling provided to 170 business persons in 2006 12 new loans funded through BBIF in 2006 = $2.3 million Historically, BBIF has provided for over $32 million in loans with a loss rate of under 3.3%.

14. BBIF Black Business Investment Fund Free advisory boards for companies in Orange County 25 active boards in construction, manufacturing, retail, services, technology, and wholesale. 106 advisors on active boards 89 companies have had boards since 2003 www.BBIF.com

15. BBIF Black Business Investment Fund Success Story: BRS Group Helped to hire key personnel Assisted business in obtaining bonding that helped the company obtain new contracts Reorganized financial statements Developed payment tracking system that decreased receivables Revenues increased by 56% in 2006

16. HBIF Hispanic Business Initiative Fund The leading Hispanic nonprofit economic development organization in Central Florida. Free bilingual technical assistance for starting and growing a business. In 2006: Assisted 14,847 inquiries 97 “How to Start Your Business” orientations — 1,235 participants 43 seminars and training programs 69 business loans marketed Assisted with $15 million in loans in the last 10 years

17. HBIF Hispanic Business Initiative Fund www.HBIFOrlando.org

18. HBIF Hispanic Business Initiative Fund Success Story: ASG Reprographics “HBIF was there to help us write a business plan, obtain working capital, and make key contacts with local corporations.” Started as a father and son operation with $100,000 in sales. Company now has 11 employees, $70,000 in monthly sales, and 4,000 local and national clients. ASG is now one of the strongest minority-owned businesses in the local reprographics industry.

19. Minority / Women Business Enterprise Alliance (“The Alliance”) Founded in 1994 as a nonprofit one-stop business resource center for the minority and women business community of Central Florida. Certified SBA Micro Lender, Community Development Financial Institution (CDFI), and Community Development Entity (CDE) Provides lending opportunities for small business owners who may not qualify for conventional bank financing. Access to capital – Workshops – Networking – Technical Assistance to contractors Assisted 1,821 contractors in 2006 and 1,002 to date in ’07 > 1,500 persons attended Alliance Workshops in 2006 The Alliance assisted in obtaining $918,000 in business loans in the first half of 2007

20. Minority / Women Business Enterprise Alliance (“The Alliance”) Success Story: SOHO Loan Event April 25, 2007 – Disney Entrepreneur Center In partnership with Innovative Bank (FDIC insured “Community Bank”) Small Office Home Office Banking is a product developed by Innovative Bank to promote SBA Express Loan programs. 48 companies applied for loans at this event 36 companies received loans Average loan = $19,000 Use of loans: machinery and equipment, working capital, and inventory

21. Minority / Women Business Enterprise Alliance (“The Alliance”) www.AllianceFlorida.com

22. Office of Economic, Trade and Tourism FY 07-08 Budget Worksession July 19, 2007

23. Proposed FY 07-08 Budget FY 2007FY 2008$ Change % Change *Burnham Institute $46 million$5 million($41 million)(89%) EDC $1,043,437$782,578($260,859)(25%) Minority Programs $433,635$390,272($43,363)(10%) Incentives $367,600$432,755$65,15517.7% Econ Dev Fund $250,000$100,000($150,000)(60%) UCF Programs $400,000$790,000$390,00098% Other Programs $160,000$306,000$146,00091% *Burnham Institute - $5 Million for FY 2008 is a rebudget, which is part of the $46 million.