The National Entrepreneur Center (NEC) in Orlando, FL was founded in 2003 as a way to bridge the gap between entrepreneurs and the organizations that provide services to entrepreneurs. While the NEC does not offer services to entrepreneurs or small businesses, it facilitates the organizations that do. Currently housed within the NEC are 12 member organizations, referred to as resource partners, that have a primary function of providing assistance to start-ups, small business, and entrepreneurs.
The NEC model has been a boon to its resource partners and the entrepreneurs they serve, but it did not have a way to quantify the positive impacts that were being created through increased collaboration via a one-stop-shop for entrepreneurs in Central Florida. The NEC approached AngelouEconomics (AE) to do just that.
AE developed an economic impact analysis model that measured the full impact that the NEC had on both the Central Florida and state of Florida economies. To be as accurate as possible, the analysis could not take credit for the activities and expenditures of the resource partners, but rather only those contributed directly from the NEC. The result was truly an impact of collaboration aimed at bolstering the environment of entrepreneurship in Florida.
To accomplish this, AE organized the NEC’s direct contributions into five categories: perceived value to entrepreneurs, value add to resource partners, increased revenues to Fashion Square Mall (where the NEC is located), on-going operational expenditures, and capital infrastructure improvements.
The collaborative model of the NEC has contributed significantly to the Central Florida economy as well as the broader state economy. Since the NEC’s inception, it has created $188 million in economic output throughout Florida. Furthermore, for every dollar invested into the NEC, $14.00 is created in economic output in the Central Florida region.
Each level of sponsor contribution has an associated level of economic impact and return on investment. The report crafted by AE detailed this information and armed the NEC with the data it needed to increase funding avenues and attract additional sponsors.
13-Year Economic Impact Analysis of the National Entrepreneur Center (40-45 page comprehensive professional report with full-color charts, graphs, and tables)