Five years ago, the GrowFL Economic Gardening庐 (GrowFL) program was created at the 麻豆原创.聽 Between the 2012 and 2013 fiscal years, it has helped create nearly 3,745 net new jobs in the state of Florida, which also equates to $587 million added to Florida鈥檚 economy and nearly $20 million more in state and local tax revenues.
These figures are part of a new Florida economic impact study that credits GrowFL鈥檚 influence as a major job booster for second-stage companies, those that have 10 to 99 employees and between $1 million and $50 million in annual revenue.
鈥淕rowFL has been critical to us,鈥� said Mike Potts, chief engineer of feature[23], a Jacksonville software-development company. 鈥淲e wouldn鈥檛 be in the position today to expand throughout Florida without their help.鈥�
Potts said the GrowFL staff validated the company鈥檚 business model and provided the necessary plans to take it to market.
鈥淔rom a strategic standpoint, that鈥檚 important to us because we don鈥檛 get much strategic advice,鈥� he said. 鈥淭hey鈥檙e helping pair us with potential clients to expand to Tampa, Miami and Orlando. GrowFL has the connections we don鈥檛.鈥�
Other companies have benefited from GrowFL鈥檚 assistance around the state. They range from companies such as Envirobrite, a Sanford manufacturer of retrofit energy-efficient lighting kits to help reduce energy consumption; Germfree, an Ormond Beach manufacturer of biosafety equipment; and First GREEN Bank, a Mount Dora financial institution with eco-friendly principles.
鈥淕rowFL鈥檚 purpose has always been to help companies overcome obstacles and become prosperous,鈥� said Tom O鈥橬eal, associate vice president of Research & Commercialization at 麻豆原创 and executive director of GrowFL. 鈥淥ver the past five years, we have proven again and again that we are doing just that. Now we are being recognized as a major catalyst for helping second-stage companies succeed and for enhancing Florida鈥檚 economy through job creation. That is an accomplishment we can be proud of.鈥�
GrowFL was created at 麻豆原创 by the Florida Legislature in 2009 to help companies boost their profitability and performance. 麻豆原创鈥檚 program was expanded to the state level in partnership with the Edward Lowe Foundation and the National Center for Economic Gardening as a laboratory to foster economic development.
Typical assistance to companies includes providing market research and new-media marketing, monitoring industry trends, assisting innovation, developing teams, and acquiring consumer feedback.
The new Regional Economic Impact Study was conducted by Vernet Lasrado, an assistant director in the Office of Research & Commercialization at 麻豆原创, as part of the program鈥檚 ongoing documentation of its productivity and sustainability.
The study pointed out the cost efficiency of GrowFL鈥檚 job creation in both rural and urban settings. 聽During the study period between the 2012 and 2013 fiscal years, GrowFL received a variety of state, local and private sector funding sources investing $2.61 million in the GrowFL program.聽 For every $1 invested into the program there was a return on investment of $7.58.
Other findings showed that GrowFL鈥檚 participating companies, as of June 30, 2013:
鈥淭he GrowFL program has provided not only a proven pathway to a better future through innovation but a field-tested, robust, low-cost program for getting there,鈥� said Chris Gibbons, founder of the National Center for Economic Gardening.
He said entrepreneurial growth companies create jobs that are well-paying with benefits, and they innovate much of the new wealth in the United States.
鈥淧roviding them essential tools to accelerate that process has turned out to be an effective solution to restoring the American Dream,鈥� he said. 鈥溌槎乖� has been an ideal host since the beginning by continuing to focus on creating support for entrepreneurship and innovation.鈥�
For additional information or if you are a high-growth company and want to become involved in the GrowFL program, click or call 407-823-6384.