The Economic Development Corporation of Sarasota County and its many partners work every day to grow and diversify Sarasota County’s economy. A key element of their strategy is understanding the needs, perspectives, and issues that existing businesses face as they grow and thrive in the community. Although the EDC works and interacts every day with businesses, they found it vital to regularly “take the pulse” of the CEOs of diversifying companies to make certain the community’s leaders understand the latest issues and challenges facing these businesses.
For the second straight year, the Economic Development Corporation conducted a survey to understand business issues, CEOs viewpoints, and year-to-year trends. Stuart Rogel, president of Graylan Ventures worked with the Sarasota EDC team to develop these findings and was the primary author for this year’s report. All surveys were conducted one-on-one with C-level executives from a cross-section of industries and provide a good understanding of current conditions and trends in Sarasota’s diversifying business community.
The report highlights the findings of 74 companies that were visited between February 1, 2016 and October 31, 2016. Forty-five companies that were interviewed in 2015 were re-interviewed in 2016. A wide range of company sizes, industry sectors, and geographic areas are represented in this year’s survey.
The survey is an integral part of an ongoing four-step process that includes:
- Interviewing companies and gathering feedback
- Assessing needs and identifying opportunities
- Responding to and addressing business and community issues
- Enhancing communications and building relationships with stakeholders throughout the area
Like last year’s results, the survey respondents overall share a significantly favorable view of various business climate, community, and governmental factors.
“It’s a safe, clean place to raise a family with good schools.”
However, these local companies face substantial hurdles regarding workforce recruitment, retention and training, especially related to technical and administrative personnel. The availability and cost of worker housing and the accessibility of transportation for employees to keep up with Sarasota County’s rapid growth remain as concerns that impact the growth of companies that diversify Sarasota County’s economy. Many of these workforce challenges reflect a national trend and are typical of a low unemployment business cycle.
As such, business competitiveness surveys like the one used in Sarasota County can be used as a tool to advance and gauge progress in many other communities with a strong business base.
These issues are discussed in greater detail in this report. Download it below.