Orlando, Florida, has been known for its vast array of theme parks, including Walt Disney World, Universal Studios, and SeaWorld. However, its economy boasts many more exciting developments beyond its tourist attractions. If you’re interested in the business landscape of this sunny city, you need to keep an eye on the following ten fresh pieces of business news that will shape the industry.
1. AdventHealth Breaks Ground on New Children’s Hospital
Orlando-based hospital system AdventHealth is developing a new pediatric hospital that will offer state-of-the-art facilities to young patients and their families. The hospital will be located in a 25-acre medical village in Lake Nona, a suburb of Orlando popular for its futuristic approach to urban planning.
2. Orlando Regional Chamber of Commerce Rebrands to One Orlando Alliance
The Orlando Regional Chamber of Commerce has changed its name to One Orlando Alliance, reflecting its new mission to represent the LGBTQ+ and other minority communities in the city. The organization intends to work closely with local businesses, governmental agencies, and non-profits to achieve greater inclusivity and diversity in the workplace.
3. Orlando International Airport is Planning a Major Expansion
As Orlando International Airport (MCO) continues to attract more than 50 million passengers annually, it’s planning a $3.5 billion expansion of its facilities. The expansion will include the construction of a new terminal, expanded parking, and other amenities to better accommodate the travelers’ needs.
4. Tech Company Kolter Solutions Expands in Maitland
Maitland is a suburban city located in the Orlando Metropolitan Area that is witnessing a growing number of tech companies set up camp. Kolter Solutions is one of them, chronicled for its accelerated growth, industry awards, and philanthropic culture.
5. Orlando Health Buys Physician Group
Orlando Health, another leading healthcare system in the area, has acquired Physician Associates LLC, a group of 95 primary care doctors and specialists. The purchase aims to give patients better access to healthcare services, and Orlando Health hopes to integrate the new providers seamlessly into its existing network.
6. Orlando Teams Up with Microsoft to Develop Smart City Vision
Orlando Mayor Buddy Dyer recently unveiled the city’s Smart City Blueprint, a collaboration with Microsoft to develop its digital infrastructure. The initiative aims to use data and technology to improve traffic management, public safety, energy efficiency, and the overall quality of life for residents.
7. Orlando’s Startup Scene Gains Traction
Orlando has seen a thriving startup ecosystem emerge in recent years, with several incubators and accelerators opening up in the city. Florida Angel Nexus is one firm that is working to nurture the next generation of entrepreneurs and gain more venture capital investment in the area.
8. SeaWorld Reports 97% Drop in Attendance Due to COVID-19
Like many tourist attractions worldwide, SeaWorld in Orlando suffered a significant loss in visitors due to the pandemic. The theme park reported a 97% drop in attendance in May 2020 compared to May 2019, a significant blow to the city’s economy.
9. Orlando Opens New Food Hall Concept
A vibrant food scene is a trademark of any great city, and Orlando is no exception. The city has recently opened a new food hall concept known as Market on Magnolia. The food hall features different vendors, seating, and entertainment to give patrons an all-encompassing dining experience.
10. Orlando’s Real Estate Market Remains Strong
Despite the global pandemic, Orlando’s real estate market continued to be attractive to investors and homebuyers alike. In 2020, inventory levels across all property types increased, while median sales prices continued to rise. “””
There is more to Orlando’s business news than Disney and Universal Studios, as evidenced by these ten diverse developments. The city’s healthcare industry, tech sector, and emerging startup community, among other industries, provide ample opportunities for growth and innovation. With a sound strategy in place, businesses can tap into Orlando’s vibrant and dynamic business ecosystem to thrive and succeed.
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