Economic News and Consulting Activities

Page  1

Bottom Line:
U.S. economy continues to outperform the European Union (E.U.) and Japan. WEG expects this positive performance through 2015.
The FED may increase short-term rates in second half of 2015, but this depends on the state of the U.S. and global economies.
Florida has one of the top business climates in the Nation. This is reflected in strong growth of payroll employment, population
expansion and overall economic activity. If the current pro-business policies continue in Tallahassee next year, WEG expects
Florida to outperform National averages in key economic indicators.

News and Consulting Activities
WEG Client, SkyRise Miami, Received Miami Voters’ Approval and Miami-Dade Economic Development Committee
Approval for a $9 Million Grant
WEG is pleased to have prepared the Economic Impact Study for SkyRise Miami. The voters of Miami approved the project in an
August referendum, and the Miami-Dade Economic Development Committee approved recently a $9 million grant to develop
public infrastructure around the facility. The entertainment facility will be a top generator of jobs and household income for
Miami-Dade County and for Florida.

October 2014 Issue of WEG’s Florida Business Barometer Released to Clients and Followers
WEG released to clients and followers the October 2014 issue of its ongoing research on the Florida economy entitled, “The
Business Barometer for Florida.” In the latest issue, WEG continues to track Florida’s top spending categories using taxable sales
as a proxy, and also develops a preliminary analysis of the State’s top “exportable” industries.
ECONOMIC NEWS AND CONSULTING ACTIVITIES
BY TONY VILLAMIL
Fall Issue, October 2014
Economic Commentary
US Economic Indicators 2013
Q-I
2014*
Q-2
2014*
Q-3
2014*
US Economic Outlook for 2014-2015
Real GDP Growth 2.2% -2.1% 4.6% 3.0%
E

Economic activity has picked up since the dismal Q1 performance.
WEG expects moderate growth for the remainder of 2014 and at least
the first half of next year. U.S. outperforming the European Union and
Japan in GDP and in employment growth.
PCE Deflator (Inflation Rate, used
by FED)
1.5% 1.3% 2.1% 2.0%
E

Low and stable inflation likely through end 2014 and at least middle of
2015, all within FED policy guidance. FED policy on target. QE3 to end
in October. Modest tightening still expected in middle or second half of
2015, but this is data-driven and depends on situation in U.S. and
global economies.
Payroll Employment Growth 1.7% 1.7% 1.8% 1.9%
Payroll employment growth has averaged around 200K plus in last 6
months, leading to declines in unemployment and under-employment
(U6-measure). WEG expects continued improvement in employment
levels, consistent with a moderately growing economy.
Florida Economic Indicators 2013
Q-I
2014*
Q-2
2014*
Q-3
2014*
Florida Economic Outlook for 2014-2015
Payroll Employment Growth 2.5% 2.8% 3.1% 3.0%
Florida continues to outperform national averages in employment
growth and overall economic activity. Employment expansion is
steadily shifting to higher-than-average paying occupations. This is
positive for continued economic expansion.
Total Housing Starts (Thousands) 81 82 89 100
1

Modest recovery in housing starts continuing as overhang, including
shadow inventory of foreclosed properties, is on a downward trend.
Very low-mortgage rates and a pick-up in population growth suggest
continued improvement in housing starts throughout 2015.
Exports ($ in Billions)** $86 $20 $20 $21
E

Florida exports are “flat” compared to 2013. International markets are
soft. The European Union is close to a recession, Brazil is in recession,
and growth has slowed sharply in the global economy. WEG expects
soft exports growth to continue through most of 2015.
Sources: BEA, BLS, UCF, Florida DEO, US Census, Enterprise Florida and The Washington Economics Group, Inc. (WEG)
Notes: *Annual Rates, except for Exports that are quarterly for 2014.
1
UCF Forecast –
E
WEG Estimates and Outlook.


Economic News and Consulting Activities

Page  2
WEG Analyzes the Economic Development Importance of the Florida Institute for the Commercialization of
Public Research to the Florida Economy
This Fall, Florida Institute for the Commercialization of Public Research (the Institute) retained WEG as independent
consultants to estimate the economic development impacts to the State of Florida. The Institute is a non-profit organization
that works collaboratively with technology licensing officers at universities and research institutions throughout the State,
leveraging an estimated $2 billion research base to start new companies and fulfilling a “niche” where seed capital is unlikely
to be sufficiently available through the private marketplace. The Institute plays a catalytic and growing role in supporting the
economic development strategy of Florida.
WEG Continues to Serve the International Speedway Corporation (ISC) and to Provide Economic Analyses for its
Tracks Located in Florida and Across the U.S.
This year WEG has continued to provide economic impact studies for International Speedway Corporation’s (ISC) tracks across
the United States including the Watkins Glen International track in New York, Richmond International Raceway and
Martinsville Speedway in Virginia. This year, WEG has provided economic consulting services to ISC tracks in Florida including
Homestead-Miami Speedway and Daytona International Speedway (Daytona Rising). Each track throughout the ISC network
is an anchor for economic development in its respective State and local economies, and each plays integral roles in the sports
industry. In October 2014, ISC reported that the Daytona Rising project is on target. WEG conducted the comprehensive
economic impacts and sales forecasts expected to be generated by this game-changing mixed-use economic development
project of ISC.
WEG is Pleased to Have Been Contracted as Economic Consultants to Prepare a Comprehensive Analysis of the
Expansion of Baptist Health’s Facilities in South Florida
WEG is pleased to be retained by Baptist Health South Florida, a loyal and recurring client of WEG since 2006, as independent
economic consultants. Headquartered in Coral Gables, Florida, Baptist Health is a world-class, $4 billion organization
composed of seven hospitals and more than 30 outpatient facilities serving over one million patients each year. WEG will
estimate and analyze the economic impacts of the expansion of Baptist Health South Florida.
Broward County Public Schools (BCPS) Retains WEG to Quantify the Economic Impacts to Broward County of the
Proposed General Obligation Bond (GOB) Issue
As independent consultants to Broward County Public Schools (BCPS), WEG demonstrated the economic impacts and
important economic development benefits to the Broward County economy that could be generated through the passage of
the General Obligation Bond (GOB) to fund much-needed capital improvements.
WEG is Pleased to Continue Serving Ana G. Mendez University System (SUAGM) as Economic Consultants
WEG is pleased to continue serving Ana G. Mendez University System (SUAGM) as primary economic consultants. SUAGM is
the second largest private University in Puerto Rico and has Florida campuses in Miramar, Tampa and Orlando, as well as in
other U.S. regions. SUAGM continues to expand in the U.S. and retains WEG for its expertise in market assessments and
feasibility studies.

Executive Team Activities and Presentations
WEG Principal and Founder, Dr. J. Antonio Villamil Announced as Newest Member of the James Madison Institute
(JMI) Research Advisory Council
In October 2014, Tony Villamil was announced as the newest member of The James Madison Institute (JMI) Research Advisory
Council. He joins 15 additional thought leaders, further strengthening and advising the Institute on policy issues and their
impact on Florida’s economy.
Dr. Tony Villamil Launches a Weekly Business Podcast Analyzing Economic News Hosted by TJ Villamil
In August 2014, WEG Principal, Dr. Tony Villamil, and host, TJ Villamil, launched the Business Economics weekly podcast
designed to prime your business for growth and expansion. Every week, Tony Villamil dives deep into the economic data
circulating the news wire and gives listeners expert analysis and commentary to help you understand what the data means
for your business and why is it important. You can listen at www.thebizeconomist.com/blog.


Economic News and Consulting Activities

Page  3
Enterprise Florida International (EFI) Invited Tony Villamil to Present an Economic Outlook to Western
Hemisphere Representatives
Tony Villamil was pleased to be invited by Enterprise Florida International (EFI) to meet with representatives from Canada,
Brazil and Mexico, among other Western Hemisphere representatives. Tony presented an informative outlook on the
economies of Florida, the U.S. and Latin America.

The Beacon Council Reappoints Tony Villamil as Chairman of the Economic Roundtable
At the Annual Meeting in October 2014, Tony Villamil was reappointed as Chairman of the Economic Roundtable for the
Beacon Council, the official economic development organization of Miami-Dade County. Tony has served in this position since
2000 and has played an active role in the advancement of the One Community One Goal (OCOG) initiative.
Marielena Villamil, WEG CEO, Appointed to National Advisory Board of BBVA Compass
In addition to Marielena Villamil’s seat on the South Florida Advisory Board of BBVA Compass where she has served since
October 2013, this year she has also been appointed to join the Bank’s National Advisory Board. The Board meets on a semi-
annual basis to assess regional market conditions, performance and brand perception of BBVA Compass. BBVA Compass ranks
among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama
(2nd), Texas (4th) and Arizona (5th). BBVA Compass has also been recognized as one of the leading small business lenders by
the Small Business Administration and was recently awarded the 2013 Celent “Model Bank Award” for its new core banking
platform.
WEG’s Manager of Client Services, Verity Finch, Joins the Greater Miami Chamber of Commerce (GMCC) Sports
Committee
Manager of Client Services, Verity Finch, is excited to represent the WEG team on the Greater Miami Chamber of Commerce
(GMCC) Sports Committee alongside community leaders in Miami’s growing sports industry. WEG has extensive experience
estimating the economic impacts of the sports sector on the South Florida economy and understands the importance of
branding the region as an international sports tourism destination.
Opening Speaker, Tony Villamil, Presents the Cyclical and Fundamental Perspectives of the U.S. Economy
through 2015 at the FPA of Miami’s 9
th
Annual Symposium
Tony Villamil opened the Financial Planners Association (FPA) of Miami’s 9
th
Annual Symposium on September 9, 2014 with
a presentation on the U.S. Economy through 2015. This presentation analyzed macroeconomic and financial indicators in mid-
2014 and provided a framework for analyzing the likely path of the U.S. economy through 2015. Tony was featured among a
talented line up of speakers, and the event was attended by industry partners and financial professionals from across the State
of Florida and the U.S.
Tony Villamil Participates In Pete De La Torre "Entrepreneur Re-Boot Academy" Radio Program
On August 28, Tony Villamil participated in the Pete De La Torre radio program called the Entrepreneur Re-Boot Academy on
WZAB 880 AM The Biz, Miami's only all-business radio station. This two-week radio program interviews select local and
national business leaders and is designed to help entrepreneurs re-think, re-tool and re-energize their existing businesses. His
presentation was rebroadcasted in October.
WEG Principal Presents a Regional Analysis and Outlook of the Florida Economy to the Taiwanese Business
Community
Tony Villamil presented a Regional Analysis and Outlook of the Florida Economy to the Taiwan Business Association and the
Taiwanese Chamber of Commerce on August 27, 2014. Tony’s presentation highlighted the importance of Florida as a key
player in the current global economy and included an overview of Central and South American economies. Select Taiwanese
and local business leaders attended this event that was organized by the City of Doral, the Taiwan Business Association (TBA)
and the Taipei Economic and Cultural Office in Miami (TECO).
Tony Villamil Presented the Mid-Year Economic Outlook for the Central Palm Beach County Chamber of
Commerce
On August 26
th
, Tony Villamil, WEG Founder and Principal Advisor delivered the Keynote address at the Central Palm Beach
County Chamber of Commerce, Economic Forum Luncheon sponsored by Mercantil Commercebank, N.A. Tony Villamil’s
presentation focused on economic drivers of South Florida with a focus on the Palm Beach County economy.


Economic News and Consulting Activities

Page  4
Tony Villamil Presented Jobs Goals Results For The Beacon Council's One Community One Goal Initiative
On July 23rd, Tony Villamil presented alongside community leaders at the large community gathering of “One Community One
Goal” of the Beacon Council – Miami-Dade’s official economic development organization, where Tony serves as Chairperson
of the Economic Roundtable. The presentation included an update on the progress Miami-Dade County has made toward
increasing the number of jobs in the targeted industries. Tony also presented the OCOG results to the Beacon Council Board of
Directors.
At Florida International University’s Next Level Growth Symposium, Tony Villamil Delivered the Keynote
Presentation
On October 22, 2014, Tony Villamil delivered the keynote presentation at Florida International University’s Next Level
Growth Symposium for business owners at the Modesto Maidique Campus in Miami. The topic of Tony’s presentation was
the South Florida Environment and Opportunities to Grow a Business to the Next Level.




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 Fall season. Among the upcoming scheduled presentations are:
 November 5, 2014: At the Inaugural NAI Florida Forum, Tony will present an Economic
Outlook of the Florida Economy as the Keynote Speaker at the Mayfair Hotel & Spa in Miami.
 November 13, 2014: Tony will participate in a panel at the Goberna Las Americas
Conference on Economic Prosperity and Growth Models to business leaders from Latin
America and the U.S. at Miami Dade College, Wolfson Campus.
 November 13, 2014: Tony will deliver a presentation on the U.S. Economy in 2015 at the
Coral Gables Community Foundation’s annual Financial Planners Reception,
 November 20, 2014: Tony will be a featured speaker at a Seminar for the business
community presenting Connect Americas and Business Opportunities in the Pacific Alliance
Countries co-hosted by Universidad San Ignacio de Loyola (USIL) and Inter-American
Development Bank at USIL’s new Doral Campus.

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
Podcast: http://www.thebizeconomist.com/blog