October 29, 2010 While our community continues to endure the effects of the economic crisis, we remain cautiously optimistic because there are tangible signs indicating Ocala/Marion County is headed in the right direction for economic recovery. Business retention is a key indicator of an area's economic vitality. Below, you will see photos of the construction progress at Signature Brands,LLC and Cone Distributing's new facilities. The interesting fact about these two projects is they are both home-grown companies that have managed to prosper and create jobs at the most challenging time in our history. What does that say about our local business community? The roots of economic stability run deep here, and we WILL recover and be stronger for it! The EDC stands ready to facilitate that process and offers assistance to you or any other business that is interested in growing in our community. We are only a phone call away. As far as business recruitment, there are two projects close to announcement, several in the pipeline, and a few that have just begun inquiry into the possibility of Ocala/Marion County as their business destination. We are encouraged with each call and tour as we see business leaders from outside the area view our community in such a positive way. Much has been reported on the economic impact of Amendment 4. The EDC Board of Directors urges you to vote "NO" on this amendment, and invites you to take a look at the facts presented in the Florida's Tax Watch Report below to ensure you are fully informed before going to the polls.
As in last month's Update, we still feel it is important to remain positive, and we ask that you help by sharing what has and is being done with those in your circle of influence. Is there more work to be done? Certainly, and we will need your support now, more than ever keep Ocala/Marion County Great for Business…Great for Life. Best Regards, 
Pete Tesch
President/CEO
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 | | Signature Brands, LLC's New Popcorn Facility | 
| Cone Distributing, Inc.'s New Facility |  | On November 2, 2010, Floridians will need to make important decisions on the six amendments listed on the ballot. Perhaps the most important vote – certainly the one with the largest economic and fiscal consequences – is the vote on Amendment 4, which would require all changes to city and county local government comprehensive land use plans be approved by local voters through referenda. The new economic impact analysis, Land Use Planning by Referendum: The Economic Consequences of Amendment 4, conducted by the Florida Council of Economic Advisors at Florida TaxWatch and a team of researchers from the Haas Center for Business Research and Economic Development at the University of West Florida, details the future economic impact of the passage of Amendment 4, which has a significant effect on jobs, income, and the taxpayer’s wallet.
The new analysis assesses the likely impacts on employment, income, and the fiscal position of local governments across the state. According to the analysis, passage of Amendment 4 would result in significant long term losses in jobs, economic activity, and personal income.
The study estimates that Amendment 4 would cost:
· More than 260,000 jobs
· $16.7* billion in personal income
· $21.6 billion* in Gross State Product
· $2.2 billion* in state tax revenue
· $227 million loss in property taxes – approximately $3.4 million per county
(*Estimates are averaged over six years in constant 2010 dollars.)
Under the scenario deemed “most likely” by the study, the passage of Amendment 4 would have devastating implications for Florida, especially given the current economic and fiscal conditions in the state. Among some of the effects found was a steep decrease in jobs, particularly high-wage jobs, over the next three years, losses in personal income that persist over time, decreased housing affordability, and lower tax revenue collections, which may lead to the need for increased taxes and fees in order to fill the budget gap created by Amendment 4.
The analysis was conducted by a team of economists at the Haas Center at the University of West Florida using Regional Economic Modeling, Inc. (REMI) model – a dynamic forecasting tool used by the Florida Legislature – to estimate the effects on Florida’s economy. The assumptions, methodology, and findings have been found to be credible and valid by two independent reviews of the study conducted by prominent economists in Florida.
The report concludes that, instead of risking hundreds of thousands of jobs as well as our state’s economic recovery by marking up Florida’s Constitution, Florida should focus on making improvements to the existing growth management structure and process to ameliorate growth management issues to promote healthy investment that will allow Floridians to compete and prosper in the new 21st century.
View the full economic impact analysis report, Land Use Planning by Referendum: The Economic Consequences of Amendment 4, or visit www.FloridaTaxWatch.org for further details on the economic effects of Amendment 4 on Florida’s economy and taxpayers in the short and long term.
This Economic Update has been developed to meet the communication needs expressed by our investors. The EDC has been asked to provide quick, easy-to-read highlights, with further details just a click away.The Economic Update is the tool for delivering the Quarterly Report, and other relevent economic updates. Let us know what you think! 
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