City of - Lakeland CRA

CITY
OF
DEMOGRAPHIC
LAKELAND GUIDE 2014
POPULATION
WORKFORCE DEVELOPMENT
INDUSTRY SECTORS
MAJOR EMPLOYERS
WAGES & INCOME
TAXES
EDUCATION
HOUSING
ECONOMIC INCENTIVES & REDEVELOPMENT
CONSTRUCTION & DEVELOPMENT
Community Development
Built upon historic character, philanthropy and volunteerism, Lakeland offers
its residents, businesses and visitors a true sense of place. Incorporated in
1885, Lakeland quickly became one of the premier cities in Florida. From the
inaugural railroad service in the mid-1890’s to being one of the first cities
in Florida to have electricity, Lakeland has always been a hub of innovation
and progressive ideas. Today, the City continues to thrive as population and
business expansions are attracted to this area, the geographic center of
Florida. Lakeland’s economic base consists of warehouse, transportation and
distribution, education, health care, manufacturing and retail.
Lakeland has received the distinction of being on Money Magazine’s
“Best Place to Live in America” list. In addition, Lakeland is home to Publix
Supermarkets, Florida Southern College, which hosts the largest one-site
collection of Frank Lloyd Wright architecture in the world, and is the winter
home to the Detroit Tigers.
The City of Lakeland offers an exceptional quality of life. A firm commitment
to downtown development, redevelopment, historic preservation, cultural
amenities, and an exceptional business-friendly environment has helped
Lakeland to thrive for 125 years. Growth and progress exemplify our City all
the while maintaining a sense of history and a hometown feel.
• Over 8.6 million people within a 100-mile radius
• 32 miles from Tampa
• 54 miles from Orlando
• Midway between Key West and the Georgia state
line
• Two International airports within an hour’s drive
• Located on Interstate 4 in the middle of Florida’s
High Tech Corridor.
• Located in Polk County, the eighth largest County
in the state.
• Polk County boasts over 550 lakes and 90 minute
drives to beaches on both coasts.
• The Central Florida Development Council estimates
that 1.5 million tourists visit Polk County
each year.
TABLE OF CONTENTS
ECONOMIC & DEMOGRAPHIC SNAPSHOT
POPULATION
WORKFORCE DEVELOPMENT
INDUSTRY SECTORS
MAJOR EMPLOYERS
WAGES & INCOME
TAXES
EDUCATION
ECONOMIC INCENTIVES & REDEVELOPMENT
HOUSING
CONSTRUCTION & DEVELOPMENT
ranked
4
5
7
8
9
10
11
13
14
16
17
6TH
RIDA
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BESTbyCStreetAdvisor.com
When you want to be in the center of things..
LAKELAND IS THE PLACE TO BE.
3
ECONOMIC & DEMOGRAPHIC SNAPSHOT
POPULATION
State of Florida
(2013)
19,259,543 613,950 269,176
Polk County
(2013)
City of Lakeland
(2013)
Lakeland Electric
Service Area (2013)
98,733
CITY OF LAKELAND
Total Number of Households (2013 Est.)
Average Household Income (2013 Est.)
Median Household Income (2013 Est.)
Lakeland Labor Force (2013)
Employed (2013)
Unemployed (2013)
Lakeland Unemployment (2013)
Lakeland Private Employment (2013)
Average Home Sales Price (2013)
Single Family Permits (2013)
Multi-Family Permits (2013)
Warehouse/Industrial Square Feet Permitted (2013)
Commercial/Office Square Feet Permitted (2013)
Retail Square Feet Permitted (2013)
41,833
$50,064
$36,495
42,658
39,521
3,137
7.40%
37,587
$126,447
132
6
1,479,327
7,223
161,138
Sources:
University of Florida Bureau of Economic & Business Research (BEBR) | Bureau of Labor & Statistics (BLS) | Claritas Market Place 2013
Lakeland Economic Development Council (LEDC) | Mid Florida Regional MLS | Florida Agency for Workforce Innovation (AWI)
4
POPULATION
CITY OF LAKELAND
HISTORICAL SIZE
& POPULATION
Year
Population
196041,350
197042,803
198047,406
199070,576
199574,626
200078,452
200182,942
200287,150
200388,741
200489,731
200590,851
200691,623
200793,428
200893,508
200994,163
201097,422
201197,690
201298,200
201398,773
POLK COUNTY
& FLORIDA
City of Lakeland
(2013)
98,773
613,950
19,259,543
Sq. Miles
16.78
17.17
20.59
44.23
50.55
51.91
54.15
67.54
67.60
69.94
71.38
72.17
73.41
74.33
74.40
74.48
74.62
74.75
74.83
POPULATION
Year
Polk County
1960195,139
1970228,515
1980321,652
1990405,382
1995443,153
2000483,924
2001496,112
2002502,385
2003511,929
2004528,389
2005535,800
2006564,868
2007581,058
2008585,733
2009584,383
2010602,095
2011604,792
2012616,158
2013613,950
Lakeland Population
by Age
Polk County
(2013)
State of Florida
(2013)
1990
2000
Florida
4,951,560
6,791,961
9,746,961
12,938,071
14,336,202
15,982,378
16,331,739
16,674,608
17,071,508
17,561,732
17,918,227
18,349,132
18,680,367
18,807,219
18,748,925
18,801,310
18,905,048
19,074,434
19,259,543
2010
16000
POPULATION BY AGE
1990 2000 2010
14000
12000
10000
8000
6000
4000
2000
0
Under 5
5 to 14
15 to 24
25 to 34
POPULATION
BY RACE
Race
White or Caucasian
Black or African American
Asian
Native American
Other
Two or more races
Hispanic or Latino
Percentage
70.00
20.71
1.86
0.46
4.03
2.93
13.91
POPULATION
BY SEX
Sex
Male
Female
Percentage
47.3
52.7
5
35 to 44
45 to 54
55 to 64
65 to 74
75 to 84
85+
Central Florida’s Growth
continues to Outpace
the State. In 2014, FDOT
recognized the I-4 Corridor
“Super Region” as being the
10th largest region in the U.S.
Source: U.S. Census Bureau
POPULATION
FLORIDA’S TOP 25
INCORPORATED
2013
METRO & NON-METRO
POPULATION
2013
City
Population
Jacksonville832,993
Miami
419,777
Tampa
346,609
Orlando
250,415
St. Petersburg
249,704
Hialeah
229,766
Tallahassee183,727
Ft. Lauderdale
170,065
Port St. Lucie
167,914
Cape Coral
161,069
Pembroke Pines
155,565
Hollywood
143,935
Miramar
126,619
Gainesville
124,391
Coral Springs
122,994
Clearwater
109,065
Miami Gardens
107,399
Palm Bay
104,693
Pompano Beach
103,189
West Palm Beach
103,039
Lakeland
98,773
Davie
93,599
Miami Beach
90,848
Sunrise
86,685
Boca Raton
86,041
Metropolitan Statistical Area
Miami/Ft Lauderdale/Miami Beach
Tampa/St. Petersburg/Clearwater
Orlando/Kissimmee
Jacksonville
Sarasota/Bradenton/Venice Beach
Cape Coral/Fort Myers
Lakeland
Daytona Beach/Ormond Beach
Melbourne/Titusville/Palm Bay
Pensacola
Fort Pierce/Port St. Lucie
Tallahassee
Ocala
Naples, Marco Island
Gainesville
Fort Walton Beach
Panama City
Punta Gorda
Homasassa Springs
Sebastian/Vero Beach
The Villages
Sebring
Total All MSA’s
Total Non-Metro
Total Florida
Source: University of Florida BEBR 2013
6
Population
5,712,742
2,850,394
2,225,730
1,372,001
719,172
643,367
613,950
596,821
548,424
458,437
429,228
371,388
335,008
333,663
264,882
246,128
185,972
163,679
140,519
139,586
105,104
99,092
18,555,287
704,856
19,259,543
WORKFORCE DEVELOPMENT
Lakeland Annual Labor Force 44000 43000 42000 41000 40000 39000 38000 37000 36000 CITY OF LAKELAND
Recent Job Growth
Future Job Growth
Unemployment Rate
Sales Taxes
Income Taxes
Median Household Income
Per Capita Personal Income
.37%
15.00%
7.40%
7.00%
0.00%
$36,495
$35,746
LAKELAND ANNUAL LABOR FORCE
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 ECONOMIC DEVELOPMENT ACTIVITY 1992-2012
Year
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Lakeland's Average Unemployment Rate LAKELAND AVERAGE UNEMPLOYMENT RATE
12.0% 11.0% 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2013 Lakeland Unemployment By Month 2013 LAKELAND
UNEMPLOYMENT BY MONTH
10.0% 8.0% 6.0% 4.0% 2.0% 0.0% J F M A M J J A S O N D Projects
20
32
24
18
23
19
25
24
22
20
27
23
29
26
15
14
20
17
17
19
Jobs
1,220
602
680
730
1,093
3,295
533
1,674
1,850
768
1,315
1,110
610
719
318
1,468
401
212
1,092
928
Square Feet
1,203,000
1,290,400
973,100
1,110,000
1,539,500
1,242,000
1,861,000
1,522,450
1,431,517
770,968
1,269,673
1,640,489
1,309,512
1,229,174
1,003,878
434,006
691,833
630,220 1,464,786 1,419,893
Est. Capital Investment
$116,080,000
$36,770,000
$18,350,000
$20,900,000
$45,075,000
$42,850,000
$109,700,000
$67,200,000
$30,045,000
$15,365,555
$33,805,000
$29,932,600
$38,115,337
$53,378,425
$83,007,817
$70,671,672
$35,714,000
$13,007,000
$123,250,000
$89,120,000
Source:Lakeland Economic Development Council (LEDC)
The City of Lakeland ranked 17th of the top 100 MSA’s
in the United States for predicted job growth by the
Manpower Group for the first quarter of 2014.
7
INDUSTRY SECTORS
Lakeland MSA – Total Nonagricultural Employment (January 2014)
Percentage
Goods Producing26,000
13.2
Construction, Mining & Natural Resources
10,700 5.4
Manufacturing15,300
7.8
Service Providing170,500
86.8
Wholesale Trade9,100
4.6
Retail Trade25,700
13.1
Transportation, Warehousing & Utilities
13,900 7.1
Information1,700
0.8
Financial Activities11,200
5.7
Professional & Business Services
25,500 12.8
Education & Health Services
29,300 15.0
Leisure & Hospitality
18,900 9.7
Other Services5,900
3.0
Government29,300
15.0
5.4% 3.0% 15.0% 9.7% Source: Florida Agency for Workforce Innovation
25000
20000
15000
10000
5000
3
4
5
6
7
5.7% 0.8% 30000
2
7.1% 12.8% 35000
1
4.6% 13.1% 15.0% INDUSTRY SECTOR COMPARISON 1990 -2013
INDUSTRY
SECTION COMPARISON 1990 2014
0
7.8% 8
9
10
11
12
1. Construction, Mining & Natural Resources
2. Manufacturing
3. Wholesale Trade
4. Retail Trade
5. Transportation Warehouse & Utilities
6. Information
7. Financial Activities
8. Prof. & Business Services
9. Education & Health Services
10. Leisure & Hospitality
11. Other Services
Source: 2013 U.S. Bureau of Labor
12. Government
Florida’s High Tech Corridor, running along I-4 throughout Central Florida
ranked 4th in Bright Labs survey analyzing job postings from Monster and Career Builder
in the 10 biggest tech hot spots in the U.S.
8
MAJOR EMPLOYERS
EmployerBusinessNumber of Jobs
Publix Super Markets, Inc
Supermarkets (stores & warehouse) 6,644
Lakeland Regional Medical Center
Hospital
4,540
GEICOInsurance2,018
Watson ClinicMedical Clinic1,500
GC ServicesTeleservices1,000
Rooms To Go
Furniture Distributor
900
Summit ConsultingInsurance654
Saddle Creek Corporation
Trucking & Logistics
625
StrykerHealthcare600
SykesTeleservices500
Manufacturing
Publix Super Markets, Inc.
Deli, Dairy & Bakery
1,419
Key Safety Systems
Air Bag Manufacturing
580
McDonald Construction Corp.Construction400
Country Hearth BreadBakery340
Pepperidge FarmBakery313
The Ledger Publishing Company
Newspaper
284
Tampa Maid Foods
Shrimp Processing
260
Carpenter CompanyInsulation235
JBT FoodTech
Citrus Processing Machinery
190
KeymarkAluminum Extrusions175
Government
City of LakelandGovernment2,600
In December of 2013, O’Reilly Automotive moved into their newly constructed 388,000
square foot facility on County Line Road. With this investment in the community, O’Reilly
will create 400 new jobs in Lakeland.
9
WAGES & INCOME
$37,827
2013 AVERAGE ANNUAL WAGE
BY INDUSTRY
Industry
Annual Wage
Public Administration
$41,430
Agriculture, Forestry & Fishing
$32,188
Construction
$39,728
Manufacturing
$46,748
Wholesale Trade
$51,896
30,000 Retail Trade
$25,948
25,000 Transportation & Warehousing
$40,664
Utilities
$71,760
Information
$45,552
Finance & Insurance
$48,412
Real Estate & Rental Leasing
$46,436
Professional, Scientific Services
$49,868
Management of Enterprises
$60,476
Administration & Waste Services
$27,092
Educational Services
$36,244
Healthcare & Social Services
$41,496
Arts & Entertainment & Recreation
$25,896
Accommodations & Food Services
$14,872
Other Services
$31,720
2013 AVERAGE
ANNUAL WAGE
2004$31,387
2005$31,928
2006$33,592
2007$35,568
2008$36,920
Average Annual Wage 2009$37,356
2010$37,939
2011$37,185
2012$36,660
2013$37,827
40,000 35,000 20,000 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 PER CAPITA
PERSONAL
INCOME
YearLakeland Florida
2004
2005
2006
2007
2008
2009
2010
2011
2012
2796533463
2983335498
3109037996
3183839256
3243339958
3151137387
3199838222
3344739636
3574641012
$18.18
2013 AVERAGE HOURLY WAGE
Source: Bureau of Economic Analysis (BEA)
Per Capita Income by MSA
Florida Research and Economic Information Database Application
According to a 2014 study by the Brookings Institute in Washington D.C, the Lakeland
MSA has the 2nd highest percentage of its workforce in infrastructure jobs among the
100 most populous metropolitan areas in the U.S.
10
TAX INFORMATION
General Information
The tax laws in Florida are advantageous both to industry and to individuals. There is no state
personal income tax, no state ad valorem tax on real or tangible personal property, no inventory tax
and no inheritance tax. This is indicative of Florida’s favorable tax climate – which is lower than most
other southeastern states.
Ad valorem rates in Lakeland and Polk County compare favorably with taxes in any other section
of the United States. The City of Lakeland has one of the lowest operating millages in the state
at 4.6644.
State Sales Tax
Florida has a 6% state sales tax. Exemptions include food and drugs, machinery and equipment
for new businesses, and research and development equipment manufactured and used by a firm
doing the research and development. Lakeland/Polk County has an additional 1% local sales tax as
of January 2005.
Corporate Income Tax
Florida corporate income tax liability is computed using federal taxable income, modified by certain
Florida adjustments, to determine adjusted federal income. A corporation doing business within
Florida may apportion its total income. Adjusted federal income is apportioned to Florida using a
three-factor formula. The formula is a weighted average, designating 25 percent each to factors for
property and payroll, and 50 percent to sales. Non-business income allocated to Florida is added to
the Florida portion of adjusted federal income. An exemption of up to $5,000 is subtracted to arrive
at Florida net income. Tax is computed by multiplying Florida net income by 5.5 percent.
Communications Tax
Businesses providing communications services are required to register to collect and remit
communications services tax. Communications services include telecommunications, cable, directto-home satellite, and related services. This definition encompasses voice, data, audio, video, or any
other information or signals, including cable services that are transmitted by any medium.
Homestead Exemption
On January 29, 2008 Florida voters approved an amendment to the Constitution allowing for a
statewide reform of Florida’s existing Homestead Exemption criteria. This reform, designed by the
Florida Legislature to provide property tax relief to homestead-exempted homeowners, owners of
second homes, rental property owners and business owners provides four significant changes to
the previous exemption.
Expanded Homestead Exemption: Increase the current $25,000 Homestead Exemption by an
additional $25,000 except on school board taxes.
Portability: Allows Homeowners to transfer up to $500,000 of their Save Our Homes Assessment
Limitation benefit to the new homestead.
Cap on Non-Homestead Property: The assessed value for all other properties without a homestead
exemption will be limited to a maximum of 10% a year.
Tangible Personal Property Exemption: Businesses will be eligible for a $25,000 exemption on
equipment such as computers, office furniture and fixtures.
11
Florida ranks 5th
in the National
Tax Foundation’s
State Business Tax
Climate Index for
2014
TAX INFORMATION
Countywide 2013
Millage Rates
Polk County 6.8665
School Board
7.547
*Parks MSTU
0.4219
*Library MSTU
0.2109
*Stormwater MSTU 0.1
Auburndale4.2657
Bartow
3.996
Davenport7.75
Dundee
7.9495
Eagle Lake
7.6516
Fort Meade
5.6484
Frostproof8.0587
Haines City
7.79
Highland Park
9.9759
Hillcrest Heights 1.5
Lake Alfred
7.589
Lake Hamilton
8.4276
Lakeland
4.6644
Lake Wales
8.5866
Mulberry
8.4
Polk City
8.6547
Winter Haven
5.79
Statewide 2013
Operating Millage Rates
Bradenton5.4356
Clearwater5.155
Daytona Beach 6.5734
Ft. Myers
8.776
Ft. Lauderdale
4.1193
Gainesville4.4946
Hollywood7.4479
Kissimmee4.6253
Lakeland
4.6644
Miami
7.571
Orlando
5.65
Pensacola
4.2895
Plant City
4.7157
Sarasota
2.9249
St. Petersburg
6.7742
Tallahassee3.7
Tampa
5.7326
West Palm Beach 8.3465
Winter Haven
5.79
*MSTU's are paid by all
residential taxpayers of
unincorporated Polk County
TAX SUMMARY
Corporate Income Tax
5.50%
Sales Tax7.00%
(State: 6% + Local: 1%)
Gross Receipt Tax
2.37%
Unemployment Tax (varies) 2.70%
Communication Services Tax 7.03%
Intangible Tax - 1 mill per $1000
of accessed valuation
12
EDUCATION
Public School Graduation Rates (Percentage)
School
2013/20122012/11 2011/10
Harrison Lakeland
George Jenkins
McKeel Academy
Lake Gibson
Kathleen
PCC Collegiate Tenoroc
Lakeland MSA
Polk County Florida
100.00100.00100.00 100.00100.00 100.0098.50 100.00
83.4083.3087.50 87.27 84.50 88.7082.0081.60
87.00
88.70
87.50
90.63
86.20
87.70
90.80
88.80
98.40
94.60
95.10
93.26
96.20
100.00
97.20
99.00
80.70
76.90
79.20
86.40
82.30
83.90
71.60
82.40
66.4066.7069.50 72.51 70.00 71.70 75.10 76.80
100.00
100.00
98.20
96.85
98.80
97.60
98.00
100.00
66.10 66.0071.60 73.90 N/A N/A N/A N/A
82.19
82.65
83.87
86.38
82.70
86.00
83.17
85.50
69.40
67.60
73.90
73.24
71.60
73.60
68.80
70.50
75.6074.5080.10 79.0078.60 75.4071.00 71.90
Florida Southern College and Southeastern
University were ranked #5 and #36 respectively
in the 2013 U.S. News and World Report regional
ranking for Colleges in the south.
FLORIDA POLYTECHNIC UNIVERSITY
Florida’s 13th public university is under construction
in Lakeland. Florida Polytechnic University’s
162,000-square-foot main building designed by Spanish
architect Santiago Calatrava will be completed in the
fall of 2014. This initial $60 million structure will house
Florida Poly’s inaugural class of 500 students with a
concentration of STEM education.
2010/09 2009/08 2007/08 2007/06 2006/05
EDUCATIONAL ATTAINMENT
IN LAKELAND
Population Age 25+
High school graduate
Some College, no degree
Associates degree
Bachelor’s degree
Graduate or professional degree
Estimate
22,750
13,622
5,435
10,670
5,569
Percentage
33.9%
20.3%
8.1%
15.9%
8.3%
SECONDARY & POST-SECONDARY
EDUCATION ENROLLMENT
Public/Private Colleges and Universities
Estimated Enrollment
Southeastern University
2,703
Florida Southern College
2,429
University of South Florida
4,229
Webster University
200
Polk State College
17,117
Proprietary Colleges and Universities
Everest University 845
Keiser University
1,200
Trade and Technical Schools
Fortis Institute
155
Travis Technical Center
1,200
13
ECONOMIC INCENTIVES & REDEVELOPMENT
GRIFFIN
ROAD
LAKE
WIRE
W .M AIN T.
S
LAKE
HUNTER
ARIANA STRE
ET
LAKEPARKER
LAKE
MO RTON
GARY R
D.
S
E.M AIN T.
LA
KE
HOLLINGSWORTH
SIKE
SLVBD
.
T.S
LEMON
T. S
W . LIME
ORANGE S
T.
INGRAHAM AVE.
LAKE E.
BEULAH
LAKE
MIRROR
LAKEPARKERAVE.
14
E
ER DRIV
LAKEPARK
For more detailed information about these incentives
visit the City’s website at www.lakelandgov.net
or Enterprise Florida at www.floridaenterprisezones.com.
BELLA
VIS
TA
E. MEMORIALLVD.
B
SUCCESSAVE.
Community Contributions Tax Credit Program
Allows businesses a 50% credit on Florida corporate income tax,
insurance premium tax, or sales tax refund for donations made
to local community development projects.
Businesses are not
required to be located in the Enterprise Zone to be eligible for
this credit.
ARIANA STRE
ET
S. LORI
F DA AVENUE
Sales Tax Refund for Business Machinery and Equipment
A refund is available for sales taxes paid on the purchase of certain
business property, which is used exclusively in the Enterprise Zone for at
least 3 years. This incentive refunds up to $5,000 of the sales tax paid for
purchases of at least $5,000 for machinery and equipment used in the
Enterprise Zone.
B
LVD.
KINS
GEORGE JEN
LAKELAND HILLS
LVD.
B
Sales Tax Refund for Building Materials
A refund is available for sales taxes paid on the purchase of building
materials used to rehabilitate real property located in the Enterprise Zone.
Both businesses and residents are eligible for this incentive that refunds
up to $5,000 of the sales tax paid for building materials. Limit one refund
per parcel of property.
LAKE
BONN ET
W ABASH AVENUE
Enterprise Zone Property Tax Credit (Corporate Income Tax)
New or expanded businesses located within the Enterprise Zone are
allowed a credit against Florida corporate income tax equal to 96% of ad
valorem taxes paid on the new or improved property.
W . MEMORIALLVD.
B
M ARTINLUTHER KING JR.
LVD.B
W ABASH AVENUE
Enterprise Zone Jobs Tax Credit (Sales and Use Tax)
Allows a business located within the Enterprise Zone to take a sales and
use tax credit for 20 percent of wages paid to new employees who reside
within the Enterprise Zone. A business must create at least one new job
to be eligible.
LINCOLN AVENUE
FINANCIAL INCENTIVES OFFERED IN
LAKELAND’S ENTERPRISE ZONE
AD
PROVIDENCEROAD
KA
TH
LE
EN
RO
1OTH S
T.
Enterprise Zone Jobs Tax Credit (Corporate Income Tax)
Allows a business located within the Enterprise Zone to take a corporate
income tax credit for 20 percent of wages paid to new employees who
reside within the Enterprise Zone. A business must create at least one new
job to be eligible.
N. LORI
F DA AVENUE
Florida’s Enterprise Zone Program was created to provide the necessary
means to assist local communities, their residents, and the private sector in
creating greater economic activity in distressed areas and to provide jobs
for residents of such areas. An Enterprise Zone is a specific geographic area
targeted for economic revitalization. Designed to encourage economic
growth and investments in the City’s urban core, the program offers tax
advantages and incentives to businesses and property owners located
within the Enterprise Zone.
LAKE
HOLLINGSWORTH
Additional Economic Development Incentives
Qualified Industry Tax Refund Program (QTI)
Quick Response Training Program (QRT)
Economic Development Transportation Fund (Road Fund)
Economic Development Impact Fee Mitigation (EDIFM)
Incumbent Worker Training Program (IWT)
Urban Job Tax Credit
Polk County Economic Development Ad Valorem
Tax Exemption Program
BO
NY
REDEVELOPMENT & ECONOMIC INCENTIVES
Lakeland Community Redevelopment Agency
The City of Lakeland is on a course of constant change and improvement. Many of the major changes occurring within the
“core” of our city are as a direct result of activities of the Lakeland Community Redevelopment Agency (CRA). The CRA works in
concert with the City of Lakeland to rebuild and revitalize many of our more challenged neighborhoods. The goal of the CRA is
to continue to build and strengthen the heart of our city by providing the appropriate infrastructure and incentives for new and
renewed property investment.
Overview
The City of Lakeland has four CRA districts. They are Downtown, which was established in 1977; Dixieland and Mid Town, which
were created in 2001; and Williams, which was created in 2002. Each of these areas are dependent taxing districts established
by the local government for the purpose of carrying out redevelopment activities that include reducing or eliminating blight,
improving the tax base, and encouraging public and private investments in the CRA.
Organization
The City Commission is the official Community Redevelopment Agency for Lakeland and each specific redevelopment area
operates under the leadership of an Advisory Board.
RD
E LAKE PARKER DR
LL
TENTH ST
EN
RD
N FLORIDA AV
MEMORIAL BLVD
15
PALMETTO ST
MCDONALD ST
LAKE BONNY
ARIANA ST
HARDEN BLVD
Dixieland CRA
MISSOURI AV
WABASH AV
S WABASH AV
Downtown CRA
VD
BL
LIME ST
LAKE
MO RTON
LAKE HOLLIN
GSWO RTH
BEACON RD
98
Midtown CRA
LAKE
HUNTER
ST
US
S
KE
SI
E MAIN ST
ORANGE ST
LIME
HOLLINGSWORTH RD
for additional information.
RD
W HIGHLAND ST / GREENWOOD ST
OW
LAKE
BEULAH
OLIVE ST
GARY RD
LAKE
MIRROR
IN ST
W MA
S BLVD
JENKIN
RT
GEORGE
LAKE
WIRE
BA
LAKE
BONNET
PARKER ST
NEW JERSEY RD
N WABASH AV
LE
FIFTH ST
LAKE PARKER
LAKE PARKER AV
W TENTH ST
BELLA VISTA ST
INGRAHAM AV
BELLA VISTA ST
GRANADA ST
MASSACHUSETTS AV
RD
SOUTH BLVD
EN
PROVIDENCE RD
LE
MASSACHUSETTS AV
TH
RD
FLORIDA AV
LL
MA
MARTIN LUTHER KING BLVD
KA
LL
HI
(LAKELAND HILLS BLVD)
N FLORIDA AV
ROBSON ST
TH
www.lakelandcra.net
HI
KA
and
Y
CR 582 (GRIFFIN RD)
Please visit
www.ldda.org
EP
R
L D
HIL
CRA projects are funded by “tax increment financing”which
works as follows: the value of real property in a
redevelopment area is determined on a fixed date; as the
value of the real property appreciates, the tax revenue on
the appreciated portion of the value (the increment) is set
aside for CRA projects; the City and County continue to
collect the tax revenue on the original real property value.
Most programs are designed to leverage tax increment by
encouraging private developers to invest in CRA districts.
E
SL
L
MAL
Projects and Funding
CRA projects must serve a public purpose and must
address concerns raised in the adopted redevelopment
plans for each area. Possible CRA programs include street
and streetscape improvements, park improvements,
development of infill housing, recruitment of new
businesses and partnership with job-training and
placement services.
SYLVESTER RD
HOUSING
HOUSING IN LAKELAND
Median Home Age
35
Average Sales Price
$126,447
Median Listing Price
$134,900
Home Appreication 1-Yr Change 10.80%
Home Appreication 1-Yr Forecast 4.60%
Home Ownership Rate
57.60%
Renter Occupied
42.40%
Homeowner Vacancy Rate
4.10%
Renter Vacany Rate
11.90%
Median Monthly Rent
$895
Millage Rate
4.6644
EXISTING HOME SALES
IN LAKELAND
Year
Units Average Price
2004 2938$133,440
2005 3676$175,224
2006 3371$196,290
2007 2233$192,842
2008 1857$160,372
2009 2357$126,568
2010 2421$115,075
2011 2456$106,090
2012 2817$118,185
2013 3050$126,447
Housing Sales in Lakeland HOUSING
SALES IN LAKELAND
4000 3500 3000 2500 2000 1500 1000 500 0 Business Insider online selected
Lakeland 2nd on its list of the
nation’s 15 best housing markets for
the next five years with a projected
10.2 % annual growth rate for home
prices from 2012-2017.
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 HOUSING PRICES IN LAKELAND
Housing Prices in Lakeland
$250,000
$200,000
$150,000
$100,000
$50,000
$0
16
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
CONSTRUCTION & DEVELOPMENT
SINGLE FAMILY
PERMITS
Residential Construction Units
RESIDENTIAL CONSTRUCTION UNITS
1400
Year
Permits Permit Valuation
2004380$49,241,780
2005 544$179,996,957
2006544 $99,101,767
2007 458$107,385,621
2008 252$55,438,488
2009144$29,771,733
2010 142$30,467,000
2011 115$25,139,223
2012 73$15,959,510
2013 138$35,707,862
1200
1000
800
600
400
200
0
2005
2006
2007
2008
SINGLE FAMILY
Series1
2009
2010
2011
2012
2013
MULTI-FAMILY
Series2
COMMERCIAL/INDUSTRIAL
SQUARE FOOT PERMITTED
Year Warehouse/Industrial
Commercial Office
Commercial Retail
20041,537,656 122,057 543,717
2005456,816
81,231 447,596
20061,047,852 190,472 443,846
2007926,792 92,825 324,051
200824,446 103,447 97,557
200976,000 101,517 3,215
2010103,482 81,857 18,046
2011890,718 11,522 50,031
2012192,409 61,996 132,887
20131,479,327
7,223 161,138
TOTAL PERMIT VALUATION
17
Lakeland ranked
6th in the U.S. and
1st in Florida on
Cushman Wakefield’s
listing of the Top 10
Industrial Markets in
the first quarter
of 2014.