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Jabil cuts 90 jobs
Jabil Circuit Inc. says it is laying off 90 workers at its St. Petersburg electronics manufacturing plant, though the action is expected to be short-term. The company attributes the layoff to changes in product demand.
The job cuts represent only a small fraction of Jabil's worldwide work force. With 100,000 employees in 22 countries, less than 2% are based locally. The company, one of the Gulf Coast's largest, posted $13.4 billion in revenues last year.
Prior to the recession, Jabil planned a $50-million expansion of its headquarters and factory. That project was put on hold after the layoff of 400 workers in 2008.
Sun Dome work approved
The University of South Florida approved $35 million in renovations to the 10,000-seat Sun Dome arena to improve it to other campus facilities nationwide.
Plans for upgrades to the 1980s-era facility were announced last fall, including new lounge boxes and a center scoreboard above the basketball court. Work is expected to be completed prior to USF's next basketball season in November.
Besides keeping the Sun Dome competitive with other Big East Conference arenas, USF officials believe the investment will substantially boost revenues and extend the building's life by at least 20 years.
Firm adds jobs
Sarasota-based Universal North America, a multiregional insurance carrier, plans to hire 70 employees over the next two years.
The firm will receive an $84,000 training grant to accelerate the hires, according to the Economic Development Corp. of Sarasota County. Universal is the first company in Sarasota County to receive the grant, which comes from the state's Quick Response Training program.
Universal also recently expanded its geographic presence in Sarasota. It added 20,000 square feet to its existing facilities, space to house property and casualty insurance operations.
Company consolidates centers
Comcast Cable plans to close its Sarasota residential customer call center, a move that will cost 129 local jobs.
But the cable company will also open a regional dispatch center in Fort Myers that will have at least 90 employees. That new center will respond to customers in Florida, Georgia and South Carolina when it opens later this year.
Layoffs are expected to begin in late April and run through May. Comcast is the largest cable provider in Charlotte and Sarasota counties.
Banks increase portfolios
Five community banks based in Sarasota or Manatee counties grew loan portfolios on an annualized basis in the fourth quarter, according to Federal Deposit Insurance Corp. data.
Parrish-based 1st Manatee Bank reported the largest increase, 29.5%. The bank went from $47 million in loans in the 2009 fourth quarter to $60.9 million in the 2010 fourth quarter.
Other banks to show an increase were: Sarasota-based Gateway Bank of Southwest Florida, with an 18.8% increase, from $68.1 million to $80.9 million; Lakewood Ranch-based Community Bank, with a 14.1% increase, from $180.1 million to $205.5 million; Venice-based Florida Shores Bank, with a 11.8% increase, from $101 million to $113 million; and Sarasota-based Sabal Palm Bank, with a 4.2% increase, from $47.6 million to $49.6 million.
Gartner wins subsidies
State and local governments awarded technology research and consulting firm Gartner more taxpayer subsidies in exchange for creating additional jobs in Fort Myers.
Since 2009, state and local government agencies have awarded Gartner $4.2 million in subsidies, for which the technology firm has promised 400 new jobs. Of the total subsidies, the state has pledged $2.8 million and Lee County has offered $1.4 million.
The company plans to move into a building under construction in the Gateway area of Lee County, east of Fort Myers, and currently employs 350 people.
Gartner is headquartered in Stamford, Conn., and has 4,400 employees in offices in 85 countries.
Hodges expands
Hodges University is scheduled to break ground March 11 on a $12 million, 48,000-square-foot building at the its Fort Myers campus.
The building at Colonial Boulevard and Winkler Extension is scheduled to be completed early next year. It will house 19 classrooms, 28 offices, computer labs, conference rooms and a student union.
Hodges University, based in Naples, has 3,000 students and caters to working professionals.
Algenol Biofuels acquires Cyano
Algenol Biofuels, an ethanol producer based in Bonita Springs, recently acquired Cyano Biofuels of Berlin, Germany. The terms of the deal were not disclosed.
Algenol specializes in producing low-cost ethanol from carbon dioxide and seawater using hybrid algae in clear plastic photobioreactors, which it has so far done in limited quantities.
Algenol plans to build a pilot-scale ethanol refinery in Lee County this year.
However, Algenol Co-Founder and CEO Paul Woods says Berlin is known for its research on algae and it will be able to recruit scientists and technicians there. Algenol previously held a minority stake in Cyano, which was founded in 2007.
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