A Look at Orlando

The Sunshine State’s Hidden Gem

Known for its warm weather, beaches, and of course, ‘The Most Magical Place on Earth,” Orlando has long been a destination for tourists and sunshine-seekers. As the 4th-fastest growing city in Florida, it is also increasingly attracting more long-term residents and jobs. In addition to its appealing lifestyle, the tax incentives that come with living and doing business in the Sunshine State serve as an incredible draw. Both domestic and international areas fuel an ongoing migration to Orlando and the surrounding region.

Another benefit to being in Orlando is its accessibility. Orlando International Airport is one of the country’s busiest, allowing business travelers to travel around the country and the globe.

Quick Statistics on Orlando

22%

Orlando’s population growth since the 2010 census, with a current population of 290,000.

70%

The positive net migration rate for the Orlando metro area between 2018 and 2019.

46%

The number of new Orlando residents of prime working age (25-54) in 2020; only 12 percent were over 65.

An Overview of Orlando's Growing Economy

The city presents a very compelling opportunity for those interested in relocating their business to Orlando.

Companies in Florida benefit from significant tax incentives, including no personal income tax and a corporate income tax rate of just 4.46%. The state also provides a Capital Investment Tax Credit for up to 20 years for high-impact businesses creating a minimum of 100 jobs with investments of at least $25 million.

Its booming population growth adds to the city’s economic strength. Between 2010 and 2020, Orlando’s population increased by 25.5%, with a 19.1% projected to increase through 2030.

A Growing Opportunity in the Sunshine State

Orlando is predominantly known as home to the world-famous Walt Disney World theme park, but Orlando is also a major industrial and high-tech center. The city boasts a staggering $13.4 billion technology sector, employing over 53,000 people.

Orlando is also widely recognized as a digital media, agricultural, aviation, aerospace, and software design hub, serving as home to more than 150 international companies across those industries.

Orlando is home to the Central Florida Research Park – the 7th-largest research park in the country – General Dynamics, Mitsubishi Power Systems, Siemens, General Electric, Travel + Leisure, AAA, and Darden Restaurants.

Orlando's Office Leasing Market

As a result of the city’s appealing location and economy, the Orlando office market has seen robust leasing activity in recent years. Orlando boasts nearly 48 million square feet of office space, with over 400,000 additional square feet currently under construction. The downtown office market alone has a total inventory of 11 million square feet, with an average asking price of $27.52/square foot.

For companies seeking an office footprint in Orlando, the timing has never been better. A surplus of new office space, plus modest vacancy rates for existing products, mean business is open in Orlando’s prime office hubs.

Opportunities in Orlando

Among the many economic drivers in the city, the Orlando International Airport is perhaps one of the most impactful. The fastest-growing international airport in the nation, the Orlando International Airport provides unparalleled access to travelers all over the globe, making it increasingly attractive for companies seeking a highly accessible office location. In addition to the airport, Orlando’s steadily rising population and ample available office space further position Orlando as a compelling location for businesses seeking to relocate or expand. Explore some of the properties available through CP Group below.