Clay County Aerospace/Aviation & Defense Company Prospect ...

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Clay County Company Prospects: Aerospace/Aviation & Defense According to local stakeholders, many of these firms/branches in Clay County (and throughout the region) initially set up a location in the area because of a specific contract or relationship with regional military installations, but their business is not necessarily only regionally focused. Firms such as Wyle Labs and LSI now value their location in Clay County or Northeast Florida because of the workforce assets and relatively low costs of doing business (and do not even necessarily do direct business with the local military facilities, although their core business is defense contracting). These same assets could be capitalized on to attract other firms of this nature. Some specific areas of focus would include: Systems/sustainment engineering and testing Training services for aerospace/defense/government IT/technology solutions for aerospace/defense/government SRI International 7
Clay County Company Prospects: Aerospace/Aviation & Defense III. Identification of Company Prospect Selection Criteria The SRI team selected company prospects based on a series of inter-related criteria. These include the following: 1. Target Sector Focus and Linkages with Regional Capabilities – SRI focused on identifying firms with a significant business interest in the three Aerospace/Aviation & Defense segments described above: MRO, A&D-Related Manufacturing, and Engineering/Training/Systems/Technical Support Activities. To the extent possible, SRI also attempted to identify firms that are operating in key niches/subsegments that have linkages with existing Aerospace/Aviation & Defense-related assets in the Northeast Florida region and/or Clay County (e.g., in fields/technologies that are related to significant activities/assets at the region’s military bases or are related to existing company strengths in the region). For example, within the MRO segment, SRI focused on identifying firms that conduct small-scale/private jet MRO and are suppliers to MRO (rather than large corporate jet MRO), as these activities are a better fit with Clay County’s assets and capabilities. 2. Firm Size – SRI focused primarily on mid-to-large-sized companies (usually with at least 200-250+ employees), as well as large, diversified, global corporations with divisions that focus on one or more of the segments identified above – as these firms are more likely to have the corporate and financial capabilities to consider an expansion or relocation to a place such as Clay County. In addition, to the extent possible SRI also considered potential for expansion (based on current location(s) or growth trends) – although such information tends to be limited except for larger, publicly-held firms. 3. Firm Locations – SRI considered the location(s) of existing operations for the company prospects, and we generally focused on identifying firms that do not currently have a significant presence in Florida or neighboring regions – as these firms may be more likely to consider expansion/relocation to an area such as Clay County in order to establish an East Coast/Southeastern U.S. presence. 4. SRI Industry Insight – As an additional criterion, SRI drew upon our team’s several decades of experience in analyzing the Aerospace/Aviation & Defense and Advanced Manufacturing industries, providing us with insights into which firms may be more likely to consider expanding into a region such as Clay County. SRI International 8
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