FloridaWest NEWS

Pensacola ranks 68 out of 382 metros in U.S.

A composite of recent studies shows Pensacola's average rank out of 382 metros is 68. The composite gleans information from CHMURA Economics and Analytics' “2023's Leading Metros Locations: Hotspots for Economic Growth,” Heartland Forward's “Most Dynamic Metros 2023,” and Milken Institute’s “Best Performing Cities 2024.”

“This composite of rankings shows Pensacola is well poised for significant diversified growth led by technology, manufacturing, defense and logistics business sectors,“ said FloridaWest Economic Development Alliance CEO Brian Hilson. “The community has seen substantial growth in early-stage technology companies that are attracted to Pensacola in part because the area offers an exceptional quality of life for employees and their families. Recognizing these and other growth opportunities, FloridaWest focuses on existing business retention and expansion, targeted business recruitment, entrepreneurial development, and asset development to better prepare the community for new opportunities.”

Click here to see the data

Pensacola State College seeks Triumph funding for Aviation & Powerplant training program

Pensacola State College is proposing an Aviation & Powerplant program, working with the Pensacola International Airport/City of Pensacola and ST Aerospace to offer training in one of the hangars located on airport property.

The $12,750,000 Triumph request would partially fund construction of a 25,000 square-foot training facility to be located on the southwest side of the Pensacola International Airport on land owned by the City of Pensacola.

Grant funds will be used for initial program implementation and the construction of the new training facility. A $7.9 million match will be provided by PSC that will support these activities.

Read the PNJ article here

Read the Triumph application here

UWF announces it will break ground on new stadium

From UWF News and WEAR-TV 3

In full swing, UWF's capital campaign has already raised $65 million with a fundraising goal of $90 million. President Martha D. Saunders announced a transformative gift of more than $9 million from Darrell and Debbie Gooden to break ground on the Darrell Gooden Stadium.

“The Here for Good campaign is a proclamation — a promise to expand the passion of our people and unleash the best of UWF,” Saunders said. “We are telling our community and our world that UWF is here today and here to stay.”

This represents the largest gift from a living donor in the history of the University. The gift will help fund the construction of a football stadium.

Read more here

CO:LAB Resident Entrepreneur

featured in ValiantCEO

From ValiantCEO.com

William Masih, CO:LAB Resident Entrepreneur and founder of Wellin5 was recently featured in article published by ValiantCEO

"As the Chief Executive Officer and Founder of Wellin5, William Masih’s focus has been on creating a leading online platform connecting clients with qualified therapists, offering personalized and accessible in-between session support and mental health care.

With a robust background encompassing over 15 years of experience in vision-casting, fundraising, strategic partnerships, and mergers and acquisitions, William successfully scaled Wellin5 from a mere concept to achieving a $1M ARR in just two years, with a limited initial capital of $3M, marked by strategic acumen and determination."

CO:LAB is a business incubator set up by FloridaWest to encourage entrepreneurship in the greater Pensacola area.

Read the entire article here

A note from FloridaWest

Community Leaders & Friends of FloridaWest,

Please be sure to take a look at the article in this newsletter that covers metro rankings and why they are important. Each year, a wide range of studies and rankings of America’s best places to do business are produced by economic “think tanks” with different angles on what’s important and which places are best. Almost all of them use available economic data and other information, which is analyzed and weighted to form the basis of each study. Whether we agree or disagree with the study criteria and how we rank, these studies are important, because they are read. In my opinion, it’s rare that a company or site selection consultant would use one of the studies to decide where to locate, but the studies could at least turn their attention.

The three recent studies referenced in this month’s FloridaWest News article base their rankings on factors such as recent employment growth, GDP, tech/R&D activity, income and wages, and economic opportunity. The Pensacola metro ranked 42nd, 77th and 84th, an average of 68th, of the 382 metros. I see that as a solid position for now, but one that we can improve on. In its “economic opportunities” analysis, one of the studies had the following rankings for Pensacola: Broadband Access (38th), Housing Affordability (126th), Resilient Households (the community’s ability to deal with disasters) (114th), and Income Inequality (55th).

Again, whether we agree or disagree with these rankings, they are seen, so we must pay attention to them. Even more important though, we have the opportunity to grow our community, and as we do our ranking in studies like these should also improve!

Sincerely,

Brian Hilson

CEO

FloridaWest Economic Development Alliance

EVENTS

SEDC Annual Conference July 28 – 30

The Southern Economic Development Council, North America's oldest and largest regional economic development association, will convene in Savannah for #SEDC2024 on July 28 – 30.

Join 500 of the world's leading economy builders for a capacity-building and fun experience. Learn more here.

Taco Thursday at CO:LAB Pensacola

CO:LAB hosts Taco Thursday 🌮 for its Resident Entrepreneurs the last Thursday of every month!

Taco Thursday is all about enjoying scrumptious tacos, learning, sharing best practices and encouraging each other.

Guests are welcome, just email us for reservations as seating is limited.

Tacos sponsored by FPL.

1 Million Cups at CO:LAB Pensacola

1 Million Cups ☕ is your monthly opportunity to get together with other entrepreneurs and talk shop.

You'll hear local entrepreneurs introduce their businesses and discuss your own small business with other like-minded entrepreneurs and innovators over coffee and conversation.

We'll have the coffee ready, you bring the ideas!

The first Wednesday of every month, 9:00 a.m. at CO:LAB.

Ideas?

If you have an idea for an article or would like to have an event included in this newsletter, please email us!

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