Economic News and Consulting Activities

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ECONOMIC NEWS AND CONSULTING ACTIVITIES
BY TONY VILLAMIL
Mid-Year Report, July 2014
Economic Commentary
Economic Indicators 2012 2013
Q-I
2014*
US Economic Outlook for 2014-2015
Real GDP Growth 2.8% 1.9% -2.9%
After a negative first quarter, primarily due to a severe winter,
economic indicators suggest a moderate rebound in economic
activity for the remainder of year and into 2015.
PCE Deflator (Inflation Rate, used by FED) 1.8% 1.1% 1.3%
Inflationary pressures likely to remain in the 1.5%-2% range
for rest of the year. FED likely to raise rates, very slowly,
starting in Q1-2015, but this depends on how tight labor
markets become.
Payroll Employment Growth 1.6% 1.7% 2.0%
Labor markets are improving, especially for experienced and
skilled individuals. WEG expects the unemployment rate to be
slightly below 6% as we start 2015, while payroll employment
continues to grow moderately.
Florid Economic Indicators 2012 2013
Q-I
2014*
Florida Economic Outlook for 2014-2015
Payroll Employment Growth 2.0% 2.5% 3.0%
The state is outperforming the nation in employment growth
this year, and expected to do so for the next 12 months. All the
industries of Florida are expanding at a solid pace, led by
Business & Professional Services, Construction, Leisure &
Hospitality and Wholesale/Retail Trade.
Single-Family Home Sales 8.5% 11.2% 8.0%
Florida continues to steadily recover from the deep housing
downturn of ’08-’09, bringing down the inventory of foreclosed
properties. Housing activity should continue to improve this
year, with credit becoming more easily available
Exports ($ in Billions)** $90 $85 $76
Export growth has been sluggish so far this year. The European
Union is just recovering from deep recession. In spite the
World Cup, Brazil’s economy is expanding slowly. Brazil is
Florida’s top trade partner. WEG expects a recovery in export
growth next year.
Sources: US Bureau of Economic Analysis, US Bureau of Labor Statistics, Florida Association of Realtors, US Census, Foreign Trade Division and The Washington
Economics Group, Inc. for 2012 Outlook.
Note: *Annual Rate, measured from prior quarter performance. **Annualized, Q-I.
Bottom Line:
A below average US economic recovery to continue through 2015. Moderate growth, low inflation and marginally higher interest rates are expected
to be the US macro environment through next 12 months. Florida is forecast to outperform the national economy through 2015. Florida industries
leading the growth are: Professional and Business Services, Construction, Wholesale and Retail Trade, Leisure and Hospitality and Educational
Services.

Exciting Changes to the WEG Core Team
Tony Villamil Returns Full-Time to WEG after a Successful 5 Years as Dean of the School of Business at St. Thomas
University
In January 2014, after spending five years as Dean of the School of Business at St. Thomas University, Tony Villamil returned to WEG full-
time to serve the economic consulting needs of his clients. In his term as Dean, Tony attracted much national and international attention
to the School of Business and “transformed the School into one with global outreach and a powerful vision for the future,” said University
President, Rev. Msgr. Franklyn M. Casale. Tony Villamil is pleased to return to the firm he founded in 1993 and concentrate his full attention
on his economic consulting practice and corporate boards.
WEG Announces Verity Finch as New Manager of Client Services
British Law School graduate and MBA alumna from St. Thomas University in Miami, Verity Finch, joined the WEG core team as Manager of
Client Services in February 2014. Tony Villamil is delighted that his former research and marketing assistant at St. Thomas University has
joined WEG, “Verity Finch did an outstanding job at STU and we are extremely pleased that she has joined us at WEG.” She serves as WEG’s
client liaison, working with clients to facilitate their business interests and achieve their goals through exclusive economics and market
research advisor services. Verity can be reached at vfinch@weg.com or at (305) 461-3811.

Economic News and Consulting Activities

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News and Consulting Activities
WEG Analyzes the Economic Benefits of the SEED School of Miami for At-Risk Youth
To begin 2014, WEG delivered a comprehensive analysis for the innovative SEED School of Miami that provides a public, college
preparatory, urban boarding school setting for low-income and disadvantaged local high school-age students. WEG’s study demonstrated
the significant quantifiable economic development impacts as well as the socioeconomic impacts by providing the under-served segment
of the population access to a quality education and therein, avoiding social service costs to Miami-Dade County and the State of Florida.
WEG Completed an Economic Impact Study for a Major Port in Florida’s Great Northwest
As the Port of Port St. Joe plans for improvements and an expansion to its infrastructure, WEG completed an Economic Impact Study that
quantified the project’s impact on the State of Florida economy. The Study found that the modernization of this major Port in Florida’s
Great Northwest is essential to keep up with increasing domestic and international trade activity while also creating employment
opportunities and generating critical public revenues to Federal, state and local governments.
The Economic Impact Study Prepared by WEG has been a Valuable Resource for All Aboard Florida
WEG is pleased to have worked with All Aboard Florida (AAF) to prepare a Comprehensive Economic Impact Study of the highly publicized
AAF Passenger Rail. AAF has been the focus of much local and national media attention, and the Study has served as a valuable resource to
AAF for public relations, advocacy and as tool to understand the statewide positive impact of the project. The Study highlights the
anticipated increase in economic activity and job growth arising from the rail-line in Central and South Florida. WEG understands the
importance of a strong transportation infrastructure to accommodate Florida’s growing population and our firm has significant expertise
consulting on major transportation and mobility projects across the State.
Tony Villamil Assists Miami-Dade Expressway Authority by Presenting the Economic Development Contributions of the
Five-Year Work Program
WEG continues to provide economic consulting and support to the Miami-Dade Expressway Authority (MDX) in its efforts to improve the
mobility of Miami-Dade County. In 2014, WEG prepared an Economic Impact Study to demonstrate the economic impact and time-savings
resulting from the improvements contained in the FY 2015-2019 Work Program. Tony Villamil also worked with the MDX team to analyze
the long-term economic environment of Miami-Dade County that was included in the successful MDX bond issue for its five-year investment
program. He later presented to the Board of Directors the significant anticipated economic development contributions and the importance
of the Work Program to the mobility and economy of Miami-Dade County.
WEG Provided Economic Analyses to Odebrecht in Efforts to Develop Airport City
Odebrecht continues to retain WEG to analyze the economic impacts and contributions that the proposed Airport City development will
have on the Miami-Dade County economy. WEG findings include countywide and local increases in high-wage employment, Labor Income,
Total Economic Impact and Public Revenues for Federal, State and local governments through the planned developments and ongoing
business operations.
WEG Completes another Economic Impact Study on the International Ultra Music Festival to the Economy of Miami-
Dade County
Each year, as independent consultants, WEG estimates the economic impacts of the major international Ultra Music Festival to the Miami-
Dade County economy. WEG quantifies the economic impacts derived from the expenditures of event organizers and the thousands of out-
of-town visitors that attend the Festival in terms of jobs created, the increases in Labor Income, Fiscal Revenues and the significant Total
Economic Impact. WEG found that the Festival’s annual presence is a positive force and a key addition to the community as it builds on
Miami-Dade County’s global brand as a top entertainment and leisure destination for both domestic and international visitors.
WEG Served the Miami Heat as Economic Advisors
Based on the independent Economic Impact Study of the Miami Heat and the AmericanAirlines Arena performed by WEG, Tony Villamil
accompanied the Miami Heat to the Miami-Dade County Commission meeting during the successful re-negotiations of the Arena lease with
Miami-Dade County. The identified Study demonstrates the important quantifiable contributions and significant externality benefits of the
Miami Heat and the AmericanAirlines Arena to the economy, public revenues and to the standard of living in Miami-Dade County. Multiple
local and national media sources reported the Study and interviewed Tony Villamil on the economic impacts and the extremely profitable
spillover effects, including Local 10 News and the Miami Today.
WEG is pleased to Continue Consulting for the International Speedway Corporation (ISC) and Providing Economic
Analyses for its Tracks Located in Florida and Across the US
WEG is pleased to be the primary economic consultants for the International Speedway Corporation (ISC) since 2007. This year WEG has
continued to provide economic impact studies for ISC’s tracks in Florida and across the United States including the Watkins Glen
International track in New York, Richmond International Raceway and Martinsville Speedway in Virginia and Daytona International
Speedway in Florida. ISC was founded in 1953 and is a leading promoter of motorsports-themed entertainment activities in the United
States with 13 of the nation’s premier motorsports entertainment facilities and well over 100 motorsports events during the racing season.
The individual tracks have significant economic impacts on their respective States and local economies by attracting thousands of fans to
the international events, as well as creating an appealing site for new businesses.


Economic News and Consulting Activities

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Florida New Markets Tax Credit Program Received Funding Using the Economic Impact Study prepared by WEG and
the Support of Tony Villamil in Tallahassee
Since 2007, WEG has been retained annually to show the economic impact and importance of the New Markets Tax Credit Program (NMTC
Program) to the economic development of the State of Florida. The NMTC Program was established by Congress in 2000 to spur new or
increased investments into operating businesses located in low-income communities. WEG’s report demonstrated the economic impacts
generated by the program on job creation, Labor Income, GDP and Fiscal Revenues to the State and local government, as well as the positive
social benefits to Florida residents that show a significant return on investment for the State. WEG Principal, Tony Villamil, presented the
findings to public officials and legislative committees in Tallahassee, and the NMTC successfully received funding.

Executive Team Activities and Updates
WEG Principal Headlines at the Capital City Bank of Tallahassee, Florida and Sachs Media Group Luncheon on the
Economies of the US, Florida and Tallahassee
Capital City Bank and Sachs Media Group welcomed WEG Principal, Tony Villamil, on April 24
th
to present his perspective on the national
and Florida economies, with a special focus on Tallahassee. This is the second year that Tony has visited Tallahassee as keynote speaker to
share his insights and guidance on Tallahassee’s emerging economy.

Tony Villamil Presented the Mid-Year Economic Update for the Melbourne Regional Chamber of Commerce
On June 20
th
, Tony Villamil, WEG Founder and Principal Advisor delivered the Keynote address at the Melbourne Regional Chamber of
Commerce’s Mid-Year Economic Update Breakfast sponsored by Allen & Company. Tony Villamil’s presentation focused on economic
drivers of Brevard County and the State of Florida, as well as trends in the global economy. The breakfast was attended by hundreds of
local business leaders.
WEG CEO, Marielena Villamil, represents the South Florida Campus as Chair of the International SUAGM Advisory
Board
Representing South Florida, Marielena Villamil sits on the Ana G. Mendez University System (SUAGM) Florida Advisory Board. The Advisory
Board meets on a bi-annual basis with local leading professionals whom serve to connect the University to the regional business
community. SUAGM is the second largest private University in Puerto Rico and has South Florida campuses in Miramar, Tampa and Orlando,
as well as in other US regions.

The American Cancer Society Selected Marielena Villamil as a 2014 Inner Circle of Twelve Honoree
This year, the American Cancer Society selected Marielena Villamil to be honored for her dedication to the community and her
humanitarian efforts. She will participate in the Luncheon and Fashion Show as the Society celebrates its 101
st
year of progress in the fight
against cancer. The celebration is intended to raise awareness and funds for cancer research, education, advocacy, and patient services and
will take place at the InterContinental Miami on Friday, October 24, 2014.

TONY VILLAMIL’S PRESENTATIONS TO CORPORATIONS AND NATIONAL ENTITIES
WEG Principal Advisor, Tony Villamil, will deliver the following important presentations throughout Florida for the remainder of the
Summer and into the Fall of 2014. Among the upcoming scheduled presentations are:
 July 23, 2014: Tony Villamil presented the latest job creation in Miami-Dade County for the Beacon Council’s One
Community One Goal Update at Miami-Dade College - Wolfson Campus in Miami, Florida.
 August 26, 2014: Central Palm Beach County Chamber of Commerce, Economic Forum Luncheon sponsored by Mercantil
Commercebank, N.A. and Binks Forest Golf Club in Wellington, Florida. Tony Villamil will present the Economic Outlook
for the Counties of Miami-Dade and Broward, with a focus on Palm Beach.
 August 27, 2014: Tony will join the Taiwan Business Association and the Taiwanese Chamber of Commerce for a Dinner
Presentation at the Amerasia Bank in Doral, Florida.
 September 9, 2014: Tony Villamil will provide an analysis of the macroeconomic and financial indicators in mid-2014 and
a framework for analyzing the likely path of the US economy through 2015 at the Financial Planning Association of Miami
9th Annual Symposium held at the University of Miami - Bank United Center in Coral Gables, Florida.
 September 16, 2014: The Rotary Club of Miami Dadeland-Pinecrest invited Tony Villamil to present the Economic Outlook
for South Florida at the Dadeland Marriott Hotel in Miami, Florida.
 September 22, 2014: Tony Villamil will be advising the Beacon Council on the Miami-Dade County economy at the Board
of Directors Retreat in Miami, Florida.
If you are interested in having Tony Villamil speak at your organization’s next meeting,
retreat or conference, please contact Verity Finch at
vfinch@weg.com or at (305) 461-3811


Follow Tony Villamil commenting on the Global, US, and Florida economies:
Twitter - @TonyVillamil