Manufacturing thrives as Lee County con�nues its growth

Manufacturing, distribu�on and warehousing con�nue to thrive in Lee County with an influx of businesses reloca�ng and expanding. With a 1.7% vacancy rate, there is a high interest in new space becoming available. Presently, Lee County has more than 2 million square feet of flex and manufacturing space under construc�on and an addi�onal 5 million square feet in various planning stages.

The pandemic brought unforeseen difficul�es to the world and to our country. An unexpected aftereffect of the pandemic is the bolstered manufacturing and distribu�on growth in Southwest Florida, and specifically in Lee County. With a wave of companies looking to expand in or relocate to our area, due to our business-friendly policies and favorable tax structure, there has been an increased rate of development for flex space and business parks.

CoStar, in its Aug. 2, manufacturing report for Lee County, forecast that the Lee County market remains steady and strong even in a severe downturn . Ini�al short-term delivery is expected to be high as some major construc�on projects reach comple�on, yet most of those spaces are already claimed. The 7 million square feet in the pipeline is expected to sustain demand in the case of a possible slowdown. This industry has a growth of 23% during the last five years and has a projected growth rate of 15% during the next five. Our area’s Gross Regional Product has more than doubled over the last 10 years from 390 million to over 954 million.

Our supply of talent is below the na�onal average; and the recent housing boom and related rent increases have made recruitment more challenging. To counteract, Lee County is working with local educa�onal partners and CareerSource to bolster our talent-pool development through upskilling, micro and rapid creden�aling, and access to scholarships to be�er develop our exis�ng workforce. We are also working with Hodges University to bring FleetForce, a much-needed CDL licensing school.

Lee County is experiencing an influx of expansions from Europe. Foreign direct investment and reshoring have a direct impact on our area. We have seen expansions with companies from Germany, the United Kingdom and Canada, just to name a few.

We also have local firms looking to expand. ADDMAN Engineering, a 3D prin�ng (addi�ve manufacturing) opera�on is expanding here in Lee County to boost produc�on and R&D efforts. Two large scale distributors need major expansions, and Storm Smart’s new ownership is ac�vely seeking space to expand and upscale its produc�on facility. Arthrex has also added new space to accommodate con�nued growth.

The Bu�ers Group acquired and is developing the Gulf Landing Logis�cs Center, a new business park located near Alico Road and I-75 that will house more than 2.2 million square feet of warehouse and distribu�on space. Premier Airport Park is also seeing major growth at the business park in the Alico corridor.

It is easy to see that the industrial market in Lee County is flourishing and the demand for this space is strong. We will con�nue to welcome and support this growth as high-paying careers accompany it. For more informa�on, contact our office at (239) 533-6800 or edo@leegov.com.

Dana Brunett possesses over 30 years’ experience in economic development in New York and Florida, managing economic development organizations and small business lending programs. He is currently Business Development Director for the Lee County Economic Development Office. Contact him at (239) 533-6813 or dbrunett@leegov.com.

Naples Chamber Of Commerce