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Stimulus Package Designed to Boost Orange County (Fla.) Economy

February 22, 2002

An economic diversification package recently approved by officials in Orange County, Florida, is intended to offset some of the post-September 11 difficulties experienced by the local economy.

More than $1 million for the Orange County Economic Stimulus Package was approved in late January by the Board of County Commissioners. The initiative provides funding for five measures, including:

  • $100,000 per year for three years ($300,000) for the University of Central Florida Business Incubator to assist in creating and expanding businesses in Central Florida.
  • $50,000 for the Economic Development Commission of Mid-Florida for a digital media initiative to help merge the strength of the area's tourism industry with high-paying, high-tech jobs. And, 
  • $100,000 per year for three years ($300,000) to support the creation of Academies of Information Technology at all Orange County public high schools.

The funding approved for the stimulus package represents about four one-hundredths of 1 percent of Orange County's $2.9 billion budget, according to the Orlando Sentinel. Orange County spends more than $4 million a year on economic development, the newspaper recently reported.

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