Industry
Orlando is a major industrial and hi-tech center. The metro area has a $13.4 billion technology industry employing 53,000 people;[citation needed] and is a nationally recognized cluster of innovation in digital media, agricultural technology, aviation, aerospace, and software design. More than 150 international companies, representing approximately 20 countries, have facilities in Metro Orlando.Orlando has the 7th-largest research park in the country, Central Florida Research Park, with over 1,025 acres (4.15 km2). It is home to over 120 companies, employs more than 8,500 people, and is the hub of the nation's military simulation and training programs. Near the end of each year, the Orange County Convention Center hosts the world's largest modeling and simulation conference: Interservice/Industry Training, Simulation and Education Conference (I/ITSEC). Metro Orlando is home to the simulation procurement commands for the U.S. Army, Navy, Air Force, Marines and Coast Guard.
Lockheed Martin has a large manufacturing facility for missile systems, aeronautical craft and related high tech research. Other notable engineering firms have offices or labs in Metro Orlando: KDF, General Dynamics, Harris, Mitsubishi Power Systems, Siemens, Veritas/Symantec, multiple USAF facilities, Naval Air Warfare Center Training Systems Division (NAWCTSD), Delta Connection Academy, Embry–Riddle Aeronautical University, GE, Air Force Agency for Modeling and Simulation (AFAMS), U.S. Army Program Executive Office for Simulation, Training, and Instrumentation (PEO STRI), United States Army Research, Development and Engineering Command United States Army Simulation and Training Technology Center (STTC), AT&T, Boeing, CAE Systems Flight & Simulation Training, Hewlett-Packard, Institute for Simulation and Training, National Center for Simulation, Northrop Grumman, and Raytheon Systems. The Naval Training Center until a few years ago was one of the two places where nuclear engineers were trained for the US Navy. Now the land has been converted into the Baldwin Park development. Numerous office complexes for large corporations have popped up along the Interstate 4 corridor north of Orlando, especially in Maitland, Lake Mary and Heathrow.
Orlando is close enough to Patrick Air Force Base, Cape Canaveral Air Force Station, and Kennedy Space Center for residents to commute to work from the city's suburbs. It also allows easy access to Port Canaveral, a cruise ship terminal.
Orlando is the home base of Darden Restaurants, the parent company of Olive Garden and LongHorn Steakhouse, and the largest operator of restaurants in the world by revenue. In September 2009 it moved to a new headquarters and central distribution facility.[51]
Film, television, and entertainment
Another important sector is the film, television, and electronic gaming industries, aided by the presence of Universal Studios, Disney's Hollywood Studios, Full Sail University, UCF College of Arts and Humanities, the Florida Interactive Entertainment Academy, and other entertainment companies and schools. The U.S. modeling, simulation, and training (MS&T) industry is centered on the Orlando region as well, with a particularly strong presence in the Central Florida Research Park adjacent to University of Central Florida (UCF). Nearby Maitland is the home of Tiburon, a division of the video game company Electronic Arts. Tiburon Entertainment was acquired by EA in 1998 after years of partnership, particularly in the Madden NFL series and NCAA Football series of video games. Nearby Full Sail University, located in Winter Park, draws new-media students in the areas of video game design, film, show production, and computer animation, among others, its graduates spawning several start-ups in these fields in the Orlando area. The headquarters of Ripley Entertainment Inc. are also located in Orlando.Healthcare
Orlando has two non-profit hospital systems: Orlando Health and Florida Hospital. Orlando Health's Orlando Regional Medical Center is home to Central Florida's only Level I trauma center, and Winnie Palmer Hospital for Women and Babies and Florida Hospital Orlando have the area's only Level III neonatal intensive care units. Orlando's medical leadership will be further advanced with the completion of University of Central Florida's College of Medicine, a new VA Hospital and the new Nemours Children's Hospital, which will be located in a new medical district in the Lake Nona area of the city.[52]Housing and employment
Historically, the unemployment rate in Greater Orlando was low, which resulted in growth that led to urban sprawl in the surrounding area and, in combination with the United States housing bubble, to a large increase in home prices. Metro Orlando's unemployment rate in June 2010 was 11.1 percent, was 11.4 percent in April 2010, and was about 10 percent in about the same time of year in 2009.[53] As of August 2013, the area's jobless rate was 6.6 percent.[54] Housing prices in Greater Orlando went up 37.08% in one year, from a median of $182,300 in November 2004 to $249,900 in November 2005, and eventually peaked at $264,436 in July 2007. From there, with the economic meltdown, prices plummeted, with the median falling below $200,000 in September 2008, at one point falling at an annual rate of 39.27%. The median dipped below $100,000 in 2010 before stabilizing around $110,000 in 2011. As of April 2012, the median home price is $116,000.[55]Tourism
The Orlando area features 7 of the 10 most visited theme parks in North America (5 of the top 10 in the world), as well as the 4 most visited water parks in the U.S.[57] The Walt Disney World resort is the area's largest attraction with its many facets such as the Magic Kingdom, Epcot, Disney's Hollywood Studios, Disney's Animal Kingdom, Typhoon Lagoon, Blizzard Beach, and Disney Springs. SeaWorld Orlando is a large park that features numerous zoological displays and marine animals alongside an amusement park with roller coasters and water park. Universal Orlando, like Walt Disney World, is a multi-faceted resort comprising Universal Studios Florida, Islands of Adventure, Volcano Bay, and Universal CityWalk. SeaWorld Orlando also comprises more than one park, alongside Aquatica and Discovery Cove. Orlando attractions also appeal to many locals who want to enjoy themselves close to home.
The convention industry is also critical to the region's economy. The Orange County Convention Center, expanded in 2004 to over two million square feet (200,000 m²) of exhibition space, is now the second-largest convention complex in terms of space in the United States, trailing only McCormick Place in Chicago. The city vies with Chicago and Las Vegas for hosting the most convention attendees in the United States.[58]
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