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Inuvo generates 200 jobs
Inuvo Inc., a Clearwater online marketing firm, is working with Orlando-based Contact Centers of America to provide call center support for BabytoBee.com.
The new venture is expected to create 200 local jobs, and reverses a long-standing trend of opening call centers off shore. Inuvo said it had been using offshore services to field BabytoBee calls for the last two years.
BabytoBee claims nearly a million customers annually. Along with upgrading its local call center, Inuvo plans to launch a revamped Web site for the company next month.
Muvico stands by BayWalk
Muvico Theaters is committed to remaining open at St. Petersburg's BayWalk retail and entertainment complex despite problems with upkeep and occupancy at the foreclosed downtown property.
The Fort Lauderdale-based multiplex operator said it has invested more than $1 million this year into improvements at the 20-screen cinema, while also noting that attendance there has dropped more than 50% over the last five years. Neil Bretan, Muvico president and CEO, said he is confident BayWalk's fortunes will turn around as new restaurants and art exhibits continue to open nearby.
Hotel rooms below $100
The average price for hotel rooms in the Tampa Bay area fell below the $100 mark through the first half of this year, as operators struggled with weather and perceptions about the BP oil spill.
The average daily rate for rooms in Tampa and St. Petersburg fell nearly 11% over the year to $97.98, according to Hendersonville, Tenn.-based Smith Travel Research. Occupancy at local hotels improved after a dismal 2009, but hoteliers have had to cut rates to fill rooms.
Tax referendum proposed
The Manatee County School Board, which faces a budget shortfall this year of at least $8.7 million, will ask county homeowners to approve a slight property tax increase this November.
The school board voted 4-1 to create a referendum for a quarter-mill “critical needs” property tax assessment.
School officials say the additional tax could generate $6.4 million, money that would be used to avoid cuts to elective programs. The board was able to put forth the referendum through a state law passed in 2009.
Still, the school board faced opposition to the referendum proposal. Several residents at a recent meeting told the board that it's the wrong time to increase taxes, regardless of the amount.
Port accepts bid
The Manatee County Port Authority saved more than $2 million by rebidding a dredging project.
Port officials recently accepted a bid by Oak Brook, Ill.-based Great Lakes Dredge & Co. to dredge the south channel of the port, a project that would extend the berth from 1,000 feet to nearly 1,600 feet long. The project will cost the port $14.8 million, which is $2.3 million less than the original low bid of $17.1 million it received in April.
The port turned down the higher bid, however, because an engineering consultant said that figure was at least $4 million more than the cost expectations. The dredging is the last part of a decade-long $200 million expansion project at the port.
Agency seeks leader
Several pro-business groups are focusing on a downtown Sarasota plan to hire an economic development professional to lead business recruitment.
The position will be run through the Greater Sarasota Chamber of Commerce and its Assignment Downtown Council, a group of local business and community leaders. The chamber has committed $43,000 in salary, benefits and services, including office space, to the position. The city of Sarasota, meanwhile, has allocated $40,000 for it in its 2010-11 fiscal budget and the Downtown Improvement District is also contributing to the position.
TIB reports loss
TIB Financial Corp. reported a net loss of $14.1 million in the second quarter compared with a loss of $4.9 million in the same quarter in 2009.
The Naples-based company is the parent of TIB Bank, the third largest bank on the Gulf Coast with 28 offices and $1.7 billion in assets.
Bank executives attributed the increased loss to lower valuation adjustments, losses on the sale of foreclosed real estate, higher provisions for loan losses and expenses incurred in connection with efforts to raise capital.
In July, a group of former Bank of America executives agreed to invest $175 million and possibly as much as $350 million in exchange for control of the company through the issuance of new shares. The deal with North American Financial Holdings is scheduled to be completed in the third quarter.
Neogenomics posts loss
Neogenomics, a Fort Myers-based cancer-testing firm, reported a net loss of $978,000 in the second quarter, compared with net income of $8,000 in the same quarter one year ago.
Executives said the loss was due to an 11% drop in the average revenue per test compared with the second quarter of 2009. However, Neogenomics recently signed contracts with large insurance providers and expect those agreements will boost revenues.
Hotel revenues rise
Despite the negative publicity of the oil spill in the Gulf, Collier County hoteliers saw revenue per available room rise in June compared with the same month a year ago, according to Research Data Services of Tampa.
Revenue per available room, an important financial gauge of hotel finances that combines occupancies and average daily rates, rose 4.2% in June to $74.90 compared with $71.90 in June 2009.
Occupancies rose 1.9 percentage points to 57.8% in June and average daily rates rose 0.6% to $129.50 compared with the same month last year.
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