At the Economic Development Corporation of Sarasota County, we are celebrating a successful 2024 and we are looking ahead to a busy 2025. I wanted to share some of the economic indicators that we are watching.

There is no doubt that our community has seen growth and change over the last five years. What is not so obvious is that there are now also more companies calling our region home, too. This is a good sign that our economy is becoming more diverse. Diversifying the Sarasota County economy is at the core of our EDC’s mission because a more diverse economy means good careers for residents, and in turn, a vibrant, thriving community.

Take this, for example, in the last five years our metro area (North Port to Bradenton) experienced a 4.1% growth in the Professional, Scientific, and Technical Services industries, which have average wages of $94,197, and a 4.8% growth in Management of Companies and Enterprises (think Corporate Headquarters), which boast average wages of $120,052.

One important factor of a healthy economy is an area’s ability to attract and create high-paying jobs. The two examples above tell us that our economy is moving in the right direction. These trends are important to us as we continue to evaluate Sarasota County’s economic needs and our strategic priorities to support a growing, more diversified economy.

I would like to invite you to explore our FY2024 Annual Report linked below. Last year, we added phenomenal new talent to the EDC team. We also completed an eight-month strategic planning process that engaged all our stakeholders and partners across the County. It resulted in a clear, focused, collaborative Strategic Plan to guide us into 2027.

We engaged with industry leaders from across the country to showcase the opportunities for business growth in Sarasota County, and we supported some great local companies as they made important investments and created great jobs here at home. The companies the EDC of Sarasota County supported last year are creating $5.2 million in new annual payroll, they will generate $491,200 in yearly new county tax revenue, and their growth projects had over $20 million in economic impact.

In addition, you will read about our priority to increase critical Business Park development throughout the County. We are supporting the development of 675,000 square feet of new Business Park over the next three years and projecting another six to eight million square feet over the next decade.

Erin Silk is President and CEO of the Economic Development Corporation of Sarasota County.

You can view the Annual Report in its entirety here