inside: Fashion - Florida Wise

Let’s begin this month by stating theobvious. Our region is one of the fastestgrowing geographies in the nation.People are moving here in largenumbers, our economy continues togrow, and now, job creation promises tooccur at a much-quickened pace.Sounds great, doesn’t it? NOW,HOWEVER, WE MUST WORK TOOPTIMIZE OUR EFFORTS AT SOUND,RESPONSIBLE ECONOMICDEVELOPMENT!For South Florida to achieve itspromise, we all need to now beginbuilding a cohesive, regional, economicpowerhouse.With Scrippsas thecornerstone, afar morediverseeconomy islikely tobecomereality. It is nota panacea,rather a majorartery ofcommerce,and one thatwill take many years to fully develop.Make no mistake, there are thingswe must do in order to maximize theopportunities. Economic Development isnot all about one new employer --important as that new employer may be.It is about the “spinoffs” that we mustencourage and nurture. For example, forevery job at Scripps, more than twoadditional permanent jobs will be createdto serve business operations and residentsin our region. We, as citizens of thisarea, can directly increase our economy.Economic development is not somesort of mysterious corporate game. Thebottom line is it is all about investmentwith the goal being new and better jobsfor our residents! We all benefit by theattraction and retention of the best andbrightest.I am not commenting about someIt is critical thatarea businesses,governmentsand residentsdeal as much aspossible withregionallyoperatedvendors ofgoods andservicesDevelopment Dynamics in South FloridaByNeil M. Shpritzabstract endeavor restricted to a few. Atthe same time, I am not referring to aparochial approach. The regular readerof this column already knows that myview is one of regional economicdevelopment, not just a picture of onesmall piece of our expansive geographydominating at the expense of other partsof South Florida. That said, it is criticalthat area businesses, governments andresidents deal as much as possible withregionally-operated vendors of goodsand services.Let me be clear on this issue. I amnot advocating some sort of regionaleconomic protection policy. I am arguingthat it benefits our community as a wholewhen we deal with our “neighbors,”new and old. The thing to remember isthat we are talking about a regionalunity understanding that people can livein one jurisdiction and commute to awork site in another jurisdiction. Whenthis occurs, economic developmentsuccess is real and all jurisdictionsbenefit.Potential employers consider anarea for site selection and expansionopportunities. Put bluntly, they often arerelatively uninterested in politicalboundaries – they are looking for laboravailability, transportation infrastructure,strong educational opportunities, etc. Inaddition, they depend on a reasonableElisa A. Armetta, CPAOwnerelisa@cpaservices.orgwww.cpaservices.orgcommuting base from which to buildtheir respective labor forces.For example, if a businessoperation decides to locate a newfacility in central Palm Beach County,residents of local jurisdictions throughoutthe county may well be hired. There willbe employment opportunities for someBroward and Martin County residents aswell. Please do not consider this asgiving away something for nocontribution. Remember, thesecommuters will spend many dollars inretail stores and eating establishments,many professional service offices andeven educational institutions (as theyhone their work skills.) Concurrently, thetax base grows as well throughout theregion. To repeat my mantra – no onesmall piece of economic geography canexist as an economic island; nor do wewant it to try. In a proverbial “nutshell,”consider buying “local.” Just rememberthat the true definition of local is“region-wide.”If we are to become the economicentity that I believe our potential holds,we can point with pride to regionalcooperation and a healthy businessenvironment. And, yes, it begins bypromoting our own regional base forgoods and services. South Florida is onits way to a higher standard of living asjob opportunities expand and diversify.Let the games begin!See you next month.— Neil Shpritz has been an economicdevelopment professional for more than 35years. His national experiences encompassboth the private and public sectors. He canbe reached at P: 561-306-6860 or by email,nmsecon@adelphia.net. ❂Accounting Management AdvisorsCertified Public Accountants & Consultants561•357•8885Tax Returns Starting At $125...With Free E-File• Income Taxes & Accounting• Payroll & Bookkeeping Services• Wills & Trusts• Estates...4175 S. Congress Avenue, Suite JLake Worth, FL 33461Email your tax questions to advice@floridawisemagazine.comFloridaWise Magazine 29