Lee County Economic Development Director, John Talmage took time out of his busy schedule to meet with the Pfeifer Team during Q4 2023 to give an overview of Lee County. 

Currently Lee County is experiencing rapid growth, with Fort Myers being the fastest-growing city in the United States. Cape Coral, a city with more miles of canals than Venice, Italy is also a hotspot for hybrid workers.

Significant housing development is underway across the county, including historically underdeveloped areas like North Fort Myers and Lehigh Acres, which is poised to be the county's most populous area. In addition to the increase in housing across all price ranges, major infrastructure improvements are planned to assist local workers that have long commutes, including extensions to Alico Rd and 3 Oaks Boulevard, with about $100 million allocated for new roadways in the next two years. Along with infrastructure improvements, the county has planned significant investments in sewer systems, water management, and roadway work, amounting to nearly $3 billion over the next 3-5 years.

Along with this rapid growth comes more air traffic.  There is currently construction underway at RSW Fort Myers International Airport as they are adding 24 new gates and more international direct flights are planned.

While housing units are on the rise, so is industrial real estate space. The Alico corridor is one of the most rapidly growing areas for commercial-industry space. Currently there is 9 Million sq. ft. under construction and an additional 12 million sq. ft. in the pipeline, most already have tenants in place.

Companies Investing in Lee County Include:

• Amazon is planning a third facility in Lee County and potentially a 2.5 million sq. ft. fulfillment center next year.
• Ferguson is building a new 500,000 sq. ft. space in addition to the large industrial space they currently occupy.
• IKEA also has plans to open a store in Lee County
• A rapidly growing local startup is planning on adding a large amount of industrial space. (Talmage could not disclose the company at this time)

This influx of new companies and expansion of existing industry leaders all provide significant job opportunities across all wage scales. The Alico Road corridor is poised to be a job hub with nearly 150,000 jobs which will represent 33% of Lee County’s total employment and 25% of all Southwest Florida’s employment. While these figures are staggering, one might ask where will all the employees come from? Lee County has been adding approximately 90 new residents a day, leading to a demand for 45 new homes daily. The population is expected to hit 1 million in six years. Even with this amount of population growth, Lee County’s unemployment rate is only 3% however there are still more job openings than people looking for jobs. This has underscored the need for workforce development. The Florida Demographic Estimating Conference held in Nov. 2023 reported that nearly 300,000 new residents moved to florida in the past year. While the majority of the population contributing to this increase is between 50 and 70 years old, it's easy to extrapolate this trend for the next few years as the baby boomers near retirement.

To address workforce development, investments have been made in micro-credentialing in fields like cybersecurity and healthcare. A federal grant of $23 million was recently secured to expand workforce development to our five-county region. In addition to workforce development, affordable housing remains a challenge for attracting a stable workforce. The $660 million investment over the next two years is commendable. The multi-pronged approach of targeting various housing needs including senior and workforce housing aligns well with the growth the county is experiencing.

The Live Local Act, which waives fees and offers tax credits to developers is a strong incentive for developers to invest in Lee County. New developments along the Alico and Corkscrew corridors as well as the planned community of Kingston, with its 2 million sq. ft. Town Center will be shape the future of Lee County. Commercial and Industrial Zoning is also a big concern to balance the optimal mix of residential with commercial and retail space. Currently the county only has 7 years left of industrial space making rezoning a vital topic for the future.

Another important factor in Lee County’s economic health our education sector. Florida Gulf Coast University (FGCU) plans to expand and grow their student population. With half of FGCU graduates choosing to live and work locally, this expansion ultimately benefits the County and contributes significantly to workforce development.

In addition to education, our healthcare sector specifically Lee Health workforce housing for medical professionals other than doctors is a sensible move given the growth and the new healthcare building funded by the state legislature. They are also moving to increase residency opportunities from 8 residents to 350 residents, which benefits patients and elevates the quality of healthcare.  is a significant leap. If most new residents choose to stay in the area, it will bolster the County’s medical workforce substantially. The potential partnership with Cleveland Clinic is also very exciting for Lee Health. The construction of new facilities like oncology centers and additional hospital beds will enhance healthcare services in the region. It sounds like there's a healthy competition brewing that should benefit the community.

Additional Lee County Growth Investments & Changes:

• Logistics & Distribution: A new million-square-foot facility, especially with FedEx, will be a logistical hub that can streamline the shipping process. That's another huge win for job growth and economic activity.
• Job Growth & Wages: Adding 18,000 jobs since January and seeing median income rise so dramatically indicates a thriving economy. National firms are bringing wage pressure, which could be a double-edged sword but is mostly a positive indicator.
• Tech Sector: Companies like Kingsland Software becoming part of the local economy will provide high-paying tech jobs, a sector that can't be ignored.
• Manufacturing and 3D Printing: A company that started with one employee and grew to 2600 is a story every city would love to tell. Their versatility in 3D printing—from medical needs to construction—is groundbreaking.
• Apparel Sector: Having more than just Chico's is a diversification that only adds more strings to your economic bow. The growth from just Chico's to 18 apparel manufacturers is significant. Donna Joe's story adds a personal touch to this burgeoning sector.
• Women's Cosmetics and Skincare: Yet another industry making its home in your area, adding diversity to the business landscape.
• Electric Vehicle Manufacturers: Companies like Pilot Cars innovating in niche markets like emergency vehicles built on golf cart chassis are unique and exciting.
• Hertz & BP Partnership: The focus on EV charging stations rather than traditional fuel is a nod to sustainability and future growth.
• Aon & Earnings: Companies like Aon are not just stable; they're thriving, which is excellent for job prospects and housing needs in your area.
• Mixed-Use Developments: Places like the Cove and Bimini Basin signal a shift towards integrated living spaces that serve multiple functions—residential, commercial, and recreational.
• Multi-Family Amenities: The focus on 'investment in experiences' for tenants is a modern approach that's likely to attract a wide range of residents.
• Food & Drink: New places like Backyard Social and the growth in microbreweries and distilleries indicate a thriving food and beverage scene, adding to the area's appeal. Red Horse and Wicked Dolphin: The spirits industry is not just surviving; it's thriving. It adds another layer to the local economy and lifestyle.
• Henry County: The expansion towards Henry County, especially with new water lines, indicates that growth is not just confined to the core areas but is spreading outward.
• State Road 80: This road connecting Fort Myers to Palm Beach is set to be a new growth corridor. With only five four-lane corridors in Florida, the investments here are a big deal.
• Unbuilt Triangle: The 450,000 new resident capacity between Lehigh Acres and State Roads 29, 82, and 80 is tantalizing. Infrastructure is the key to unlocking this potential.

Florida Office of Economic and Demographic Research Data Chart

Visit: http://edr.state.fl.us/content/conferences/population/index.cfm for more details