FINAL Document 1/23/2013 - Hardee County

EXISTING CONDITIONS & OPPORTUNITIES
Market Context
The economic vitality of Hardee County and opportunities for new business, industry and residential are driven in large
measure on the size, characteristics, and growth of population in the area. Hardee County has a discernible difference
between its resident and seasonal population, including seasonal workforce. These populations have the ability to
generate economic growth and demand for goods and services in Hardee County. In addition, there is a
significant number of daily vehicle trips along U.S. 17 through Hardee
County which could be capitalized on. This highly
traveled corridor connects two major markets in
Polk County and Charlotte County and contains
vacant and or underdeveloped properties that are
suitable for various types and levels of development.
Housing Market
Continuing unfavorable conditions in the national,
regional and county housing market greatly affect
development prospects in Hardee County in two
ways. First, developer interest in investing in new
housing will be limited until commercial lending
and demand and pricing for new products return to
normal; however, even during the boom of the early
to mid-2000’s, Hardee County did not see its fair
share of increased growth. Second, a weak housing
market limits new retail and office development, as demand
for goods and services is also restricted. Although prospects are dim for a major rebound in the
real estate market in the next few years, long range growth expectations for Hardee County appear relatively positive
especially in age-targeted communities. Based on available information, Hardee County has one of the highest average
household sizes in the State with 3.12 persons per household; the State average is 2.48 (BEBR, FPS 161 Households)
Development Opportunities
Competitive Strengths and Weaknesses
Hardee County has a number of competitive strengths and weaknesses in relation to locations outside of the larger
urbanized areas for attracting new businesses and industry. Strengths are positive attributes that should be marketed
effectively to investors, developers, and new businesses. Hardee County is not unique in several of its identified
strengths, numerous Florida communities can claim the same or similar strengths and more. Strong segments to
expand can include those sectors of the community that are strong or highly visible and can be further enhanced or
expanded.
Weaknesses include realities and perceptions that put the community at a disadvantage to business locations outside
downtown and require corrective action. Weaknesses can also include competitive weaknesses or disadvantages and
liabilities that limit the community’s ability to attract and sustain economic growth, business and industry.
Underutilized segments include those community assets that may be present and available but are either not readily
identifiable, fully funded or perceived as lacking.
Strengths/Strong Segments to Expand:
Financial institutions
Health care
Religious organizations
Industrial site inventory
Agriculture/Agricultural Support Services
Government offices
Available technology (i.e., broadband)
Weaknesses/Underutilized Segments to Focus On:
Community identity
Retail and Dining & entertainment
Residential
Offices for small businesses
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