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Officials approve budget
Manatee County commissioners passed a $462.2 million budget for the 2011-2012 fiscal year.
The budget, passed Sept. 15, is about $22 million less than last year and is down more than $125 million since 2007-2008. Commissioners approved the budget unanimously.
The county eliminated 94 jobs, the fifth year in a row it downsized the payroll. The Manatee County Sheriff's Department, though, in a separate negotiated agreement, will add 10 positions. Funds for those hires will come from taxes through revised property appraisals.
Local market rebounds
The Sarasota residential real estate market rebounded this year, with year-over-year sales up 6.6% through August, according to local broker Michael Moulton.
Moulton, with Michael Saunders & Co., analyzed Multiple Listing Service data for his report. He found home sales are up 3.4% so far this year, with 3,513 closings, while condo sales are up 12.5%, with 2,038 closings.
Home sales have increased at every price point. For example, 129 properties priced at more than $1 million have sold so far in 2011, compared to 115 last year, a 12% increase. Homes priced less than $250,000, meanwhile, have seen a 3% increase in sales, with 2,349 units sold so far.
Collier EDC closes
The Economic Development Council of Collier County will cease operating Sept. 30, its board of directors announced recently.
The industry recruiting organization has been in existence since 1976. In 1997, the EDC formed a partnership with the county, which was scheduled to provide the group with $400,000 this fiscal year starting in October.
A recent consultant's report commissioned by the EDC suggested forming a regional economic development organization with neighboring counties and that the county hire its own economic development staff.
JRL expands
JRL Ventures/Marine Concepts, a Cape Coral-based specialty manufacturer for the boating industry, is expanding into making fiberglass shells for aerospace simulators.
The company announced recently that it plans to establish a 5,000-square-foot facility in Cape Coral and hire 10 new employees for the operation. The location is undisclosed because some of the work will be classified by the government.
JRL Ventures/Marine Concepts focused on fiberglass molds for boat manufacturers until the economic downturn forced it to explore other industries. Besides aircraft simulators, these also include wind-power turbine casings and amusement-park water slides.
The privately held company currently operates in 60,000 square feet in Cape Coral, Pine Island and Sarasota.
Home sales fall, prices rise
Sales of existing single-family homes in the Naples area fell 1.8% in August compared with the same month a year ago, but the median price rose 17.6%, according to the Naples Area Board of Realtors.
Sales of existing homes fell to 319 in August and the median price rose to $200,000, the association reported. There is more than 10 months of inventory of single-family homes for sale on the market in Naples based on the current sales pace.
Meanwhile, sales of existing condos rose 4.7% to 268 in August and the median price rose 3.6% to $145,000 compared with the same month in 2010. Based on current sales pace, there is more than 13 months of inventory of existing condos on the market.
TIA connects Zurich
Tampa International Airport added another international route with a nonstop connection to Zurich, Sweden.
Edelweiss Air, a subsidiary of Swiss International Airlines, will be the carrier for the route, which will run weekly on Tuesdays and Fridays.
Joe Lopano, CEO of TIA, says in a release that the addition is part of the continuing strategy of cooperating with community organizations to attract international flights.
The Tampa Hillsborough Economic Development Corporation, Visit St. Petersburg/Clearwater, Tampa Bay & Company, The Greater Tampa Chamber of Commerce and AAA Auto Club South were involved in luring Edelweiss, a release says.
Tampa Bay lags in recovery
A study by the Brookings Institution, a nonprofit based out of Washington, D.C., ranks the Tampa Metro Area as one of the worst for economic recovery.
Tampa joins seven other Florida regions in the study's “areas of weakest economic growth.” Brookings used employment data, housing prices and gross metropolitan product indicators to assess recession recovery.
Tampa Bay's GMP increased 0.6% since the first quarter of 2010, at the trough, compared with the average of metro areas in the study that saw a 4.5% increase in the same period. This statistic ranks Tampa Bay 98 out of the 100 metros in the study.
The region's average rank is 72.5 for all indicators in the study.
Gerdau lands WTC contract
Tampa-based Gerdau Long Steel of North America secured a $7.35 million contract to provide steel for the World Trade Center Vehicle Security Center, says a firm spokeswoman.
The steel company received the deal from Navillus Inc., a Manhattan-based contract company. Navillus received a $76.5 million contract from the New York Port Authority to build the parking structure and contracted out rebar manufacturing to Gerdau.
The North American division of Gerdau employs roughly 8,000 people. The company's stock is currently trading at $8.38.
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