Orlando economic news: Metro Orlando has a rapidly growing $13.4 billion technology industry employing 53,000 people, and is a nationally recognized cluster of innovation in digital media, agritechnology, aviation, aerospace, and software. More than 150 international companies, representing approximately 20 countries, have facilities in Metro Orlando.
A vital part of the Orlando area economy is involved in the tourist industry, with the city being known for its wide range of its attractions near Kissimmee including Walt Disney World Resort, Universal Orlando Resort, and Sea World Orlando. Over 48 million visitors came to the Orlando region in 2004. The convention industry is also critical to the region's economy. The Orange County Convention Center, expanded in 2004 to over two million square feet (200,000 m²) of exhibition space, is now the second-largest convention complex in terms of space in the United States, trailing only McCormick Place in Chicago. The city vies with Chicago and Las Vegas for hosting the most convention attendees in the United States.
Metro Orlando has the 7th largest research park in the country Central Florida Research Park with over 1,025 acres. It is home to over 120 companies, employs more than 8,500 people, and is the hub of the nation’s military simulation and training programs. Metro Orlando is home to the simulation procurement commands for the U.S. Army, Navy, Air Force, Marines and Coast Guard.
Orlando is a major industrial and hi-tech center. Lockheed-Martin has a large manufacturing facility for missile systems, aeronautical craft and related high tech research. Other notable engineering firms have offices or labs in Metro Orlando: KDF, General Dynamics, Harris, Mitsubishi Power Systems, Siemens, Veritas/Seagate, multiple USAF facilities, Naval Air Warfare Center Training Systems Division (NAWCTSD), Delta Connection Academy, Embry-Riddle Aeronautical University, GE, Air Force Agency for Modeling and Simulation (AFAMS), U.S. Army Program Executive Office for Simulation, Training, and Instrumentation (PEO STRI), United States Army Research, Development and Engineering Command United States Army Simulation and Training Technology Center (STTC), AT&T, Boeing, CAE Systems Flight & Simulation Training, HP, Institute for Simulation and Training, National Center for Simulation, Northrop Grumman, and Raytheon Systems. The Naval Training Center until a few years ago was one of the two places where nuclear engineers were trained for the US Navy. Now the land has been converted into the Baldwin Park development. Orlando is close enough to Patrick Air Force Base, Cape Canaveral Air Force Station, the Daytona international speedway and Kennedy Space Center for residents to commute to work from the city's suburbs. It also allows easy access to Port Canaveral, an important cruise shipterminal.
Another developing sector is the film, television, and electronic gaming industries, aided by the presence of Universal Studios, Disney's Hollywood Studios, Full Sail School, the Florida Interactive Entertainment Academy, and other entertainment companies and schools. Numerous office complexes for large corporations have popped up along the Interstate 4 corridor north of Orlando, especially in Maitland, Lake Mary and Heathrow. The U.S. modeling, simulation, and training (MS&T) industry is centered around the Orlando region as well, with a particularly strong presence in the Central Florida Research Park adjacent to UCF. Nearby Maitland is the home of Tiburon, a division of the video game company Electronic Arts. Originally Tiburon Entertainment, it was acquired by EA in 1998 after years of partnership, particularly in the famous Madden NFL series and NCAA Football series of video games.
Orlando is the home base of Darden Restaurants, the parent company of Red Lobster and Olive Garden and the largest operator of restaurants in the world by revenue. In September 2009 they moved to a new headquarters and central distribution facility.