GREATER NAPLES CHAMBER OF COMMERCE
  • MEMBERSHIP
    • Member Login
    • Join the Chamber >
      • Chamber Champions
    • Benefits of Membership >
      • Affinity Partners
    • Business Directory
    • Chamber Investors
    • Job Bank
    • Ambassador Program
    • Business of the Month
    • Testimonials
    • Member Event Submission
    • Naples on the Gulf
  • ECONOMIC PARTNERSHIP
    • Retention/Expansion
    • Workforce & Talent >
      • CCPS
      • Higher Education
      • Community Partners
    • Economic Development Partners
    • Certificate of Origin
  • PUBLIC POLICY
    • Workforce Housing
    • Workforce Training
    • Water Quality
    • Economic Opportunity
    • One-Cent Sales Surtax
    • Sign Up For Advocacy Watch
  • LEADERSHIP
    • Leadership Programs >
      • Leadership Collier
      • Assoc. Leadership Collier
      • Youth Leadership Collier
      • Leadership Alumni
    • Emerging Talent >
      • Internship Opportunities
      • Internship Toolkit
    • Mentor Matching
    • Emerging Leadership Council
    • SUPPORT LCF
    • LCF Board
  • COVID-19 Resources
  • EVENTS & PROGRAMS
    • Events Calendar
    • Wake Up Naples
    • Accelerated Networking Lunch
    • Annual Meeting
  • LIVE/VISIT
    • Visit
    • Local Resources
    • Demographics
    • Why Live Here?
    • Community Events
    • Visitor and Relocation Packet Form
  • ABOUT US
    • Chamber News
    • Board of Directors
    • Our Team
    • Brand Guidelines
  • Contact
  • CHAMBER UPDATES | Blog
  • Sign Up For Chamber Updates!
  • MEMBERSHIP
    • Member Login
    • Join the Chamber >
      • Chamber Champions
    • Benefits of Membership >
      • Affinity Partners
    • Business Directory
    • Chamber Investors
    • Job Bank
    • Ambassador Program
    • Business of the Month
    • Testimonials
    • Member Event Submission
    • Naples on the Gulf
  • ECONOMIC PARTNERSHIP
    • Retention/Expansion
    • Workforce & Talent >
      • CCPS
      • Higher Education
      • Community Partners
    • Economic Development Partners
    • Certificate of Origin
  • PUBLIC POLICY
    • Workforce Housing
    • Workforce Training
    • Water Quality
    • Economic Opportunity
    • One-Cent Sales Surtax
    • Sign Up For Advocacy Watch
  • LEADERSHIP
    • Leadership Programs >
      • Leadership Collier
      • Assoc. Leadership Collier
      • Youth Leadership Collier
      • Leadership Alumni
    • Emerging Talent >
      • Internship Opportunities
      • Internship Toolkit
    • Mentor Matching
    • Emerging Leadership Council
    • SUPPORT LCF
    • LCF Board
  • COVID-19 Resources
  • EVENTS & PROGRAMS
    • Events Calendar
    • Wake Up Naples
    • Accelerated Networking Lunch
    • Annual Meeting
  • LIVE/VISIT
    • Visit
    • Local Resources
    • Demographics
    • Why Live Here?
    • Community Events
    • Visitor and Relocation Packet Form
  • ABOUT US
    • Chamber News
    • Board of Directors
    • Our Team
    • Brand Guidelines
  • Contact
  • CHAMBER UPDATES | Blog
  • Sign Up For Chamber Updates!

Chamber UPDATES

Collier County Economic Development – A Year in Review

8/21/2020

0 Comments

 
​Naples and the surrounding area are known for their pristine beaches and excellent weather. Many people may view this area as a place for vacationers and retirees, not a hub for business development and innovation. However, a year in review of the business environment reveals a lesser-known side of Collier County: a catalyst for business growth and economic development.
Collier County is home to roughly 25,000 businesses and 168,000 workers. While tourism and hospitality sector jobs are dominant, one might be surprised to know that Collier County has other sprawling industries that aid in diversifying the economy and employ highly-skilled workers. Many companies operating within these industries had notable headquarter expansions or relocated to Collier in the past year.
One that you might be more familiar with is Arthrex’s expansion. Arthrex is a global leader in medical device manufacturing and one of the top employers in Collier County. The HQ expansion includes a luxury hotel and a conference center. The $63 million capital investment is expected to add 560 jobs and increase the local economy by more than $1 billion annually.
Other companies within the medical device manufacturing cluster also saw growth in their operations. One of these is Lenkbar, a company that invents, designs and manufactures revolutionary surgical devices and implants. The company expanded into a new state-of-the-art 21,000 s.f facility and now employees 50 workers in high-skilled positions.  An example of a more traditional economic development project is Summit Orthopedic Technologies. Summit relocated its headquarters from Connecticut to Naples, FL, in 2019 and received a qualified targeted industries (QTI) incentive package from the state. The QTI incentive was available for companies that create high wage jobs in targeted top value-added industries. However, the program has since sunset.  Summit’s relocation from a high-tax state to a tax climate more conducive to business is just one of many trends that are happening with HQ relocations from the northeast. Summit melds right into the medical device manufacturing cluster in Collier County.
Now looking at a very different cluster -- a Forbes article recently listed Naples as one of the twenty top entrepreneurial ecosystems across America.  Along with the presence of many consulting and funding organizations, including Tamiami Angels, the Small Business Development Center at FGCU, and one of the most active SCORE chapters in the U.S., there is also a growing co-working and flexible workspace environment in Collier County. One of these organizations, Venture X, is undergoing an expansion into a 18,500 s.f space, which is set to be open in the spring of 2021. The new area will attract entrepreneurs, remote workers, startups, non-profits, small businesses, and even large teams from fortune 500 companies. Catalyst OrthoScience, a medical device company focused on the upper extremity orthopedics market, raised $12.7 million in an oversubscribed Series C-1 financing round. This funding allowed Catalyst to expand distribution, develop new products, and enhanced company infrastructure and hire new talent. Additionally, Naples-based Tamiami Angel Funds put more than $1.4 million into Catalyst in earlier funding rounds.
Other Naples grown companies such as Pyure Brands, one of the fastest-growing independent organic stevia companies in the U.S., is continuing its growth at its North Naples HQ and has placed its products in leading grocery stores including Whole Foods and Publix. Pyure Brands was named to Inc. 5000 List of America’s Fastest-Growing Private Companies.
Business development, expansion, and attraction are critical goals for economic growth. At the same time, Collier County also focuses on attainable housing for workers, and workforce development training centers, including the Center for Manufacturing Excellence, which opened its doors in 2019 to upskill workers for the growing workforce demands in manufacturing operations.
So, next time you are enjoying a day at the beach or grabbing a bite to eat at your favorite local restaurant, take time to notice the vast amount of diversified industry that helps to keep the local economy strong all year round. To find out more about details about economic development initiatives and programs in Collier County, please contact Melanie Schmees, director of business and economic research, at 239-403-2914 or by email at  melanie@napleschamber.org. 
0 Comments



Leave a Reply.

    Archives

    February 2021
    January 2021
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018

    Categories

    All
    Advocacy
    Alumni Inspirations
    Associate Leadership Collier
    Business Of The Month
    Chamber News
    Economic Partnership
    Events
    Leadership Collier
    Leadership Collier Foundation
    Member Expertise
    Member Feature
    Work Based Learning
    Young Professionals

    RSS Feed

The Greater Naples Chamber.  All Rights Reserved.
2390 Tamiami Trail North, Suite 210  | Naples, FL 34103
Phone: 239.262.6376  | info@napleschamber.org  | sitemap
MemberClicks