Issues
regarding supply chain management are not only important to examine on a
national level - there are changes and issues that can be felt within the local
economy as well. Southwest Florida is a prime example of a region that has
experienced changing economic situations, which can make FGCU uniquely
positioned to address these concerns. To better understand how Lee County has been responding to
economic issues, our office sat down with two people from the Lee County
Economic Development Office
(EDO): Evelyn Valdes, a research analyst
and alumni of FGCU (2013), and John Talmage, EDO’s Director. The EDO provides assistance to retain existing businesses, encourage
entrepreneurship, and attract new businesses to provide a strong economy and
thriving communities. But according to Director Talmage, “Some of the most
important work we do involves improving opportunities for the workforce to
advance skills and access career ladders.”
Southwest
Florida was experiencing a boom more than a decade ago - there was a lot of
building and construction that contributed to the housing-bubble that tipped
off the 2008 financial crisis and subsequent recession that was felt globally.
A decade later, the area had recovered and was building up its economy again -
and then the COVID-19 pandemic began. Individuals and organizations were
impacted by the quarantine, with more than a third of the county’s workforce
having applied for unemployment. Many businesses, especially in Fort Myers
Beach and Cape Coral, are still recovering now as the pandemic and its variants
continue to plague society. However, because of the assistance and funding
received from the federal and state levels, Lee County is recovering faster during this crisis than after 2008. The
main issues that our growing regional economy is facing now are keeping up with
the demand for goods, transporting those goods, affordable housing, and
workforce development and training.
Keeping
up with the demand for goods is not just an issue here - in many places, prices
for lumber and construction materials have risen as large corporations build in
new regions and transportation lags slow down production. Affordable housing is another issue felt around the nation; when
the price of buying housing or renting is too high, it becomes impossible for
the average worker to live. Prices are rising, but wages are not increasing at
a similar rate. We have also heard about workers not wanting to go back to
their former jobs in the retail and hospitality industries due to low pay and
variable employment in a region that has an on- and off-season. Even if
companies are building here, the future workforce cannot be sustained unless
they make enough money to live. And with companies like Bank of America raising
their minimum wage to $25 an hour for new tellers and Amazon offering $20 an
hour for new drivers, the region’s retail and hospitality industries will be
seeing competition to fill new jobs.
Lee
is now the fifth most economically diverse county in the state of Florida. The
warehousing industry has been growing the fastest - and the Alico corridor
between the RSW Airport and FGCU is one of the main areas seeing major
construction. Many companies have been purchasing and leasing warehouse spaces,
such as Wayfair and Amazon. The area’s tourism industry is still growing, as
evidenced by the growing number of hotels and rooms. There is also a
fast-growing fashion apparel sector in Lee - local Cypress Academy is in the
works to start a fashion academy in anticipation of this growth. The healthcare
industry is also rapidly growing, with new companies in life sciences, medical
equipment manufacturing, and pharmaceuticals
setting up shop in the region. “There will be all sorts of advances in our
local healthcare system,” Talmage explained. “We are seeing companies coming
that deal with prosthetic devices, community-based medicine systems, and
realigning medical devices to work with smart devices.”
The
local economy cannot be
sustained without the help of the local education sector - which includes FGCU,
as Director Talmage explains. It would be a problem if the types of jobs that
will be coming to this region cannot hire people living in the area because
they are not qualified for the work. Local high schools, technical schools, and
colleges can support Lee County’s workforce directly by offering training and
education opportunities that tie-in to the growing industries. FGCU has
responded to community needs through a number of recent initiatives - from
opening the Water School to focus on a major environmental feature in this
region, to offering programs like Entrepreneurship, Supply Chain Management,
and Construction Management. With almost 50% of FGCU graduates making their home in SWFL (the area, not just Lee)
and FGCU promoting its micro-credentialing badging program to advance locals’
skills, FGCU will continue to make a positive impact in Southwest
Florida.
-Jaclyn Chastain
