Finance

By Business Observer Staff
June 13, 2008

Gulf Coast Week

Trump Tower trumped: The $225 million Trump Tower in downtown Tampa that began with such fanfare in early 2005 appears to be headed for a quiet, ignominious end.Rays' lead-off lawyer: The Tampa Bay Rays may be riding high on the field this season, but they are in critical need of support from the Pinellas County Commission later this summer to move ahead on a new bayfront stadiumManatee cuts jobs: At least 85 jobs in Manatee County could be eliminated over the next few months, as the county begins to respond to what could be as much as $44 million in budget cuts.New Publix planned: An abandoned newspaper office could be turned into one of the largest Publix supermarkets in the area in and around downtown SarasotaEmbarq closes call center: Telephone service provider Embarq will close its Fort Myers customer call center Aug. 8 and lay off 108 employees, the company says.Creeks preserve opens: Lee County opened the Caloosahatchee Creeks Preserve May 20, a 1,261-acre site on which the county spent $2.1 million to improve 200 acres with restrooms, a canoe launch, parking areas, picnic shelters, trails and observation decks.BioFlorida starts chapter: BioFlorida, the state's bioscience industry association, has launched a Southwest Florida chapter, its sixth in the state, according to the Economic Development Council of Collier County.

Finance

By Business Observer Staff
June 6, 2008

Gulf Coast Week

Finalists narrowed: The contract to run advertising campaigns for the St. Petersburg/Clearwater Area Convention & Visitors Bureau valued at nearly $10 million will be up for grabs later this year.Executive sells home: The chief executive officer and president of Clearwater-based boat dealer MarineMax made a big sale late last month. But it wasn't a boat.New scholarship created: The charitable foundation behind Beall's, the Bradenton-based department store chain, has teamed up with the Foundation for Manatee Community College to form a new scholarshipAward nominations sought: The Economic Development Corp. of Sarasota County is seeking nominations for its 2008 Hall of Fame Awards.It only took two years: Sarasota-based developer Billy Springer has finally received long-awaited approvalWhat credit crunch?: Health Management Associates raised $275 million in a convertible-bond offering on May 21.Alligator Alley privatization: The Florida Department of Transportation is exploring the possibility of privatizing Alligator Alley,Lee permits find bottom: Lee County issued construction permits for 80 single-family homes in May, a 73% decline from the 301 issued in May 2007.

Finance

By Business Observer Staff
May 30, 2008

Gulf Coast Week

New owners for Busch?: InBev NV, a Belgian brewing company, is considering a $46 billion takeover of Anheuser-Busch Companies Inc.USF to cut 450 jobs: University of South Florida President Judy Genshaft said the college will cut $50.4 million by laying off 70 employees and not filling 380 open jobsRays anger Pinellas: After waiting for months for a detailed financial plans on a new open-air baseball park from the Tampa Bay Rays, the Pinellas County Commission got the news the team would be asking for $100 million from the county.No-smoking policy: Sarasota County is leading the way on the Gulf Coast with what is becoming a national trend: Refusing to hire people who smoke cigarettes or other tobacco products.More delayed projects: Add two more downtown Bradenton developments to the growing list of delayed projects up and down the Gulf Coast.County offers buyouts to 800: Lee County has offered about 800 higher-paid employees buyout offers to counter a projected drop in revenues this year.UPS adds jobs in Fort Myers: Package delivery giant UPS recently announced plans to expand its Fort Myers operations and hire another 20 employees.Alico closes Plant World: Alico, the agribusiness company headquartered in LaBelle in Hendry County, east of Fort Myers, has closed its Plant World operations and eliminated 30 jobs.

Finance

By Business Observer Staff
May 22, 2008

Gulf Coast Week

Judge supports St. Joe's: St. Joseph's Hospital remains alive in the competition to build a hospital in the growing south shore area of southern Hillsborough County.Council delays brewery: Joe Redner, Tampa's famous strip club owner and continual political candidate, wants to try another business venture: brewing beer.St. Pete loses air carrier: High fuel prices have claimed another victim: USA 3000, the second-busiest carrier at St. Petersburg-Clearwater International Airport.Infrastructure spending: Sarasota County commissioners approved $14 million in infrastructure spending earlier this month, the first approvals since county voters approved an increase to the county's bond borrowing capabilities in a May 6 referendum.Arts Day canceled: Arts Day, an annual event held in downtown Sarasota to showcase the region's artists, musicians and performers, has been canceled for 2009Mercier exits commission: Paul Mercier, who has been considered by some to be one the most pro-development members of the Sarasota County commission during the past eight years, has decided not to run for a third termLee approves bond sale: The Lee County Commission approved the issuance of $63 million in private-activity bonds to finance Pacific Retirement Services' acquisition of Cypress Cove at HealthParkNew flood maps for Lee: The Federal Emergency Management Agency (FEMA) has released the final flood-insurance maps for Lee County.New Le

Finance

By Business Observer Staff
May 15, 2008

Gulf Coast Week

Tampa water vision: Tampa's growth northward and increasing demand for water has city leaders thinking about using reclaimed waterApartment tower proposed: Although the condominium market has taken a hit, Crosland, a Charlotte, N.C. developer, thinks a 26-story apartment tower can work in downtown Tampa.Rail supporters fight on: A $649 million deal with CSX Transportation to create a commuter rail network in Florida has collapseProject delayed again: More than 25 acres of undeveloped waterfront property in downtown Bradenton is undergoing a foreclosure sale later this month, the latest problems facing what was supposed to be a mixed-use project with the potential to reshape the cityMills sells insurance firm: Former Sarasota County Commissioner David Mills sold his independent locally based insurance brokerage to Insurance & Benefits Consultants, a subsidiary of a publicly traded Southfield, Mich.-based firm.Project expansion denied: Citing congestion concerns, Sarasota County Commissioners voted down a major expansion for Thomas Ranch, a large-scale mixed-use project in the southern edge of the county.Naples mandates recycling: The Naples City Council on May 7 voted to require businesses to recycle. The vote was 6-to-1 in favor, with Teresa Heitmann dissenting.Business program incubating: Economic development groups from Sarasota, Charlotte, Glades, Lee, Hendry and Collier counties are working to create a small-business

Finance

By Business Observer Staff
May 9, 2008

Gulf Coast Week

Toll road plans dying: The proposed 3-mile, $155 million east-west road linking New Tampa to Interstate 275, talked about for years as a way to lessen traffic in New Tampa and southern Pasco County, may be scrapped.St. Pete to open talks: St. Petersburg Mayor Rick Baker has asked the city to begin negotiations with two of three developers that submitted bids to remake Tropicana Field into a mixed-use development No-growth initiative passes: In a special election held May 6, Sarasota County voters overwhelmingly approved two ballot measures that some in the local business community considered pro-business initiatives.Rural project expansion: The potential developer of 26 square miles in rural southern Sarasota County is planning to put an additional $90 million into the project.Gyrocam lands huge deal: Gyrocam Systems has been awarded a $302 million contract from the U.S. Army Lee permits hit bottom: Lee County issued permits for 47 single-family homes in April, the same number the county did in March. However, April's number is down 82% from the 262 issued in April 2007.Tech group launched: A group of technology executives has created a coalition of companies in eight counties and plans a launch event May 22 in Fort Myers

Finance

By Business Observer Staff
May 2, 2008

Gulf Coast Week

Riverwalk nears completion: A longtime vision in Tampa, linking the downtown via a riverwalk, is getting closer to completion.USGS dedicates building: The U.S. Geological Survey recently celebrated the dedication of its newest building in St. Petersburg, an 11,400-square-foot facility with six state-of-the-art labs, a dive locker and 12 offices.Tax increase delayed: Sarasota County commissioners has agreed to postpone a planned increase in a new-construction tax of almost 50% for at least one year.Project lives on: The Sarasota City commission narrowly approved a change to the city's land-use rules, a key victory for a developer seeking to build a mixed-use project just south of downtown Sarasota.Popular festival canceled: The Sarasota Reading Festival, a popular annual event that brings several noted writers to the area every November, is the latest victim of the soft economy.County cuts jobs: A drop in new construction and development in Collier County has forced county government officials there to trim another nine jobs.Passenger traffic rises: More than 1 million passengers passed through Southwest Florida International Airport in March.First Florida now Synovus: Naples-based First Florida Bank is now officially part of Synovus Financial Corp

Finance

By Business Observer Staff
April 25, 2008

Gulf Coast Week

Racing in St. Pete: Although some residents complained about the noise and the crowds, the economic impact won out.A gas-price break: A Tampa hotel hopes it has an answer for people thinking about canceling a summer vacation due to high gas prices: Offer gas stipends.Pinellas ballpark money: St. Petersburg may not be the only source of public money for the proposed $450 million downtown open-air, real grass ballpark for the Tampa Bay Rays.Murdock Village help: Charlotte County commissioners have hired Orlando-based planning firm Tramell Webb PartnersBenderson builds roads: Sarasota-based Benderson Development is planning on spending more than $4 million in road improvements for the land surrounding its massive shopping mall projectPlanning vote delay: An effort to update the city of North Port's comprehensive plan has been delayed until at least June.Mining bills stall: Proposed Florida Senate bills that would have made it more difficult for local politicians to prohibit mining of economically critical limestone rock recently stalled in committees.Frontier takes off: Frontier Airlines, which provided Southwest Florida's only nonstop link to a Mountain-time-zone city, will end service between Fort Myers and Denver this summer.

Finance

By Business Observer Staff
April 18, 2008

Gulf Coast Week

Ybor meters coming out: To encourage more visitors and business in Ybor City, Tampa has started to pull out parking meters on the streets of the historic district.New redevelopment manager: Robert McDonaugh, who has worked in real estate development for the port of TampaClearwater streetscape: With work on the Cleveland Street streetscape complete, Clearwater officials' next step in reigniting the city's downtown will be an $11 million boat slips project.Scaled back trend grows: Sarasota developer Billy Springer is contemplating another do-over of his latest housing proposal, following a growing trend in the county: The scaled-back project.Buyers for Murdock Village: An 870-acre undeveloped swath of land in Port Charlotte owned by Charlotte County has drawn interest from several Gulf Coast developersMetro Parkway widened: State and local transportation officials announced a portion of Metro Parkway in Fort Myers will be widened to six lanes from its current two lanes.Lee school tax stalls: An effort to lower taxes on new construction that benefit schools will have to wait until the state legislative session is over, Lee County commissioners have decided.

Finance

By Business Observer Staff
April 11, 2008

Gulf Coast Week

Tampa Bay scores slip: The Tampa Bay area slipped from second to fourth among its five other Southeast competitors in the latest economic scorecard dashboard report from the Tampa Bay Partnership, released this week.Gerdau buys Century Steel: Tampa-based Gerdau Ameristeel Corp. has acquired all the assets of Century Steel, Inc.Tampa to sell land: Despite the slow economy, Tampa is trying to sell parcels of vacant land.Building height vote: Charlotte County commissioners, reeling from a pair of recent economic development blows, are considering passing new zoning rulesReds off to the desert: The Cincinnati Reds baseball team signed a contract with officials of Goodyear, Ariz. April 8 to play Spring Training games in that cityBuilding permits reinstatedLee moratorium talk: A moratorium on development of new mines on sparsely populated 83,000 acres in South Lee County will be debated at open forums scheduled for April 17, 22 and 24.

Finance

By Business Observer Staff
April 4, 2008

Gulf Cost Week

Poe officials face lawsuit: Florida insurance and financial regulators are suing several members of the Poe familyPols still getting money: Some things never change in politics, such as politicians.More development delays: The weight of the slumping housing market has recently forced several developers of residential real estate projects in and around downtown Bradenton to scale back or completely postpone the projects.Arena sale close: After several years of starts and stops, the foreclosure sale process of a partially built hockey arena in Lakewood Ranch could finally be on the verge of happening.Lee permits continue slide: Permits for residential and commercial construction continued to fall at a steep pace in March, according to figures from the Lee County Community Development Department.Collier's foreign buyers: Home sales to non-U.S. buyers in Collier County rose in January and February by 67% and 43%

Finance

By Business Observer Staff
March 29, 2008

Gulf Coast Week

Cone sentenced to prison: The owner of a Tampa construction company has been sentenced to five years in prison and five years probationMoffitt growth may hit snag: The H. Lee Moffitt Cancer Center & Research Institute's $400 million expansion plan in Tampa has run into yet more troubleBallfield plans lack financials: Three proposals to redevelop Tropicana Field in St. Petersburg posed more questions than answersMassive mall progresses: A massive mega-shopping mall project in northern Sarasota County, to be built by Sarasota-based Benderson Development, is one step closer to beginning constructionLWR city chatter heats up: Lakewood Ranch, one of the largest master planned communities on the Gulf Coast, is exploring the possibility of becoming an incorporated cityCollier targets job retention: Faced with rising unemployment and companies moving out of the area, Collier County commissioners are offering to pay qualifying companies $1,000 per existing job if they stay put and promise to hire more people.Discount carriers dominate: Three discount carriers were among the top five passenger airlines flying to Southwest Florida International Airport in Fort Myers

Finance

By Business Observer Staff
March 21, 2008

Gulf Coast Week

New Job Corps opens: A groundbreaking ceremony was held recently for the new $40 million Pinellas County Job Corps Center in St. Petersburg.Urban boundary compromise: A potentially contentious and expensive battle over future growth in Sarasota County east of Interstate 75 could be on the verge of being avertedManatee fee increases: Permit fees for new homes being built in Manatee County will be going up about 61% starting March 31Lee declines to lower taxes: Lee County commissioners recently decided they would not roll back taxes on new construction, also known as "impact fees."Affordable-housing plan fails: Lee County commissioners have abandoned plans to impose fees on commercial construction to pay for affordable housingNaples' 'cheap' home sales: Sales of single-family existing homes priced below $300,000 surged 67% in the Naples area, a real estate group reported.Tax reform goes to voters: Florida voters will likely have a chance to vote on one of the biggest property tax cuts ever in the state this November, the result of an amendment proposed by a state commission studying tax issues.

Finance

By Business Observer Staff
March 14, 2008

Gulf Coast Week

Authority looks at transit: The Tampa Bay Area Regional Transportation Authority is planning the first round of public workshops for a master plan to improve mobility within its seven countiesSt. Pete residents favor park: Given the chance to weigh in on the future of Al Lang Field on the St. Petersburg waterfront, most of the nearly 200 people who attended a public forum recently in St. Petersburg said they want all or much of the baseball grounds turned into parkland.Hangar deal creates 400 jobs: Up to 410 new jobs could be created at Tampa International Airport in the next two years with the recent approval of a lease agreement for Pemco World Air Services Inc. for a maintenance hanger.Congressman expands role: U.S. Rep. Vern Buchanan, R-Longboat Key, is putting his entrepreneurial and business skills to good useCounty cuts more jobs: Local and county governments in the Sarasota-Manatee area continue to layoff small groups of employees in response to budget cuts stemming from the slowing economy and enforced tax cutsNew airport development: The Lee County Port Authority approved a deal to lease land to Denver-based developer John Madden Co.Lee hotels post mixed results: A majority of hoteliers surveyed by the Lee County Visitor and Convention Bureau - 57% - reported January occupancy rates were better or the same than January 2007Wine Festival's $17 million: The Naples Children and Education Foundation, organizers of

Finance

By Business Observer Staff
March 7, 2008

Gulf Coast Week

Hillsborough to cut 25 jobsFranchisee files Chapter 11Ybor preserves commercialMore affordable housingMore housing layoffsEDC program expanLee stimulus packageBuilding permits remain lowCollier denies I-75 tolls

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Tennessee investor pays $13 million for Fort Myers medical office

St. Pete asks residents to design its next creative neighborhood

Charlotte warehouse developer once jailed over alleged Hamas connection

Report: 4 markets in region among top 10 nationally in home price cuts

Frontier Airlines offers new Virginia flight from Tampa International

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