City of Palm Coast Presents Target Industry Feasibility Study

The City of Palm Coast, in partnership with ABLE Operations Economic & Workforce Analytics, recently presented the City’s Target Industry Feasibility Study at a Palm Coast City Council Meeting. The study focuses on current conditions, cluster prioritization, and future development plans.

Initially, the City identified seven industries for economic development. Of those, five key industries—Aerospace, Advanced Manufacturing, Information Technology and High/Clean Technology, Logistics & Warehousing, and Hospitality—were found to have strong growth potential over the next decade. The remaining two industries, Corporate Headquarters and Healthcare Training & Research Services, are less likely to thrive in Palm Coast. Focusing on these five industries is a cause for optimism.

The study highlights the city’s demographic and industry profile. Palm Coast’s population grew by 27% between 2010 and 2022, presenting an opportunity to expand the commercial and industrial sectors, shifting the tax burden from residential to commercial sources. Additionally, median household income has increased by 60%, further strengthening the city’s economic outlook.

One of Palm Coast’s most promising opportunities is its strategic location between Jacksonville and Brevard County. The city’s robust transportation networks, including major highways, ports, and airports, make it an ideal hub for commerce and logistics.

The planned westward expansion, coupled with Palm Coast’s affordable housing market, offers significant potential for the development of light industrial and flexible workspaces, which are essential for future growth.

The study offers three key recommendations: establishing a robust business ecosystem, accelerating western expansion and land development, and focusing on industry-specific workforce development and recruitment. Broader programs for business attraction, retention, and expansion will help build a strong ecosystem, while moving forward with western expansion and workforce development will support the city’s long-term economic goals.