Finance

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By Business Observer Staff
August 1, 2008

Gulf Coast Week

New high-tech firmCambridge, Mass.-based Charles Stark Draper Laboratory Inc. will be establishing a BioMEMS R&D Center at the University of South Florida in Tampa and a Multi Chip Module Center in St. Petersburg.Smith files bankruptcySmith Family Homes, an upscale homebuilder along the Gulf Coast, has filed Chapter 7 in U.S. Bankruptcy Court. Under Chapter 7, a court-appointed official liquidates the company's assets to pay creditors.udge upholds gun lawA Federal judge in Florida upheld a law allowing employees to keep concealed weapons inside their locked vehicles in their employer-owned parking lot.More arena delaysThe foreclosure of a unfinished hockey arena in Lakewood Ranch has been delayed again. German company relocatesOrbeco-Hellige Inc., a Long Island, N.Y.-based manufacturing company that specializes in building instruments for testing water and wastewater treatments, has moved its business to Manatee County. Enterprise opens Aug. 1Fort Myers city officials plan to dedicate the new Southwest Florida Enterprise Center on Aug. 1.News-Press layoffsThe Fort Myers News-Press, a daily newspaper owned by Gannett, told its readers recently it plans to lay off 36 employees and will not fill another 10 job openings.

Finance

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By Business Observer Staff
July 14, 2008

Gulf Coast Week

Temple Terrace town centerTemple Terrace has been planning a town center renewal since 2001.Westshore property soldPro-Ject International has sold its seven-acre property at Laurel and O'Brien streets in Tampa's Westshore business district for $8.2 million to Flagler Development Group of Coral Gables.Seltzer's, Cork struggleTampa-based Sam Seltzer's Steakhouses of America Inc. has filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code.Tax hike delayedSarasota city officials have scheduled a meeting for later this summer to hear from developers and business owners concerned about a proposed 11% increase in the city's building and construction tax, also known as impact fees.Campaign hits milestoneSarasota Tomorrow, the pro-business program run by the Greater Sarasota Chamber of Commerce, has reached $2.5 million in donations - $500,000 more than its initial fundraising goal set last year.LWR city chatter progressesAdvocates of the concept of turning Lakewood Ranch into an incorporated city have come up with $35,000 to pay for a feasibility study on the issue.Downtown parking garageConstruction is scheduled to start this summer on the construction of a multi-story parking garage in downtown Fort Myers, bringing much-needed relief for workers and visitors to the Lee County Justice Center.Page Field expansionThe Federal Aviation Administration awarded $6.1 to the Lee County Port A

Finance

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By Business Observer Staff
June 27, 2008

Gulf Coast Week

Tampa wins conference: Tampa will host an international business conference in November that will match entrepreneurs with representatives and business owners from 25 countries in Latin America.Rowdies return to Tampa:A new version of the Tampa Bay Rowdies, a professional soccer team that played in Tampa in the North American Soccer League in the 1970s and 1980s, is coming back to town next year and may build a small stadium in northwest Hillsborough.Pasco sports complex: Next door, in Pasco County, developers want to build a $40 million project called SportsPlex USA, which will include three ice skating rinks, bowling alleys, rock climbing, laser tag and an 18-hole miniature golf course.Encouragement zone dead: A proposal to create more business in and around Port Manatee through tax breaks and other incentives failed in Tallahassee.More growth sought: One of the biggest commercial developments in Sarasota County could be growing significantly over the next decade.New Cape manufacturer: Applied Cooling Technology, a United Kingdom-based marine manufacturer, opened its first U.S. division in Cape Coral.MIVA cuts 15% of workers: Fort Myers technology company Miva plans to cut 15% of its workforce in July.Collier panther protection: A coalition of landowners in eastern Collier County announced a panther-protection program to better manage the recovery of the endangered species.

Finance

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By Business Observer Staff
June 19, 2008

Gulf Coast Week

Ethanol plant changes: Litigation and water challenges in finding financing have led a company to abandon plans for an ethanol production plant at the Port of Tampa.Verizon changing command: Alan Ciamporcero, who led Verizon's operations on the Gulf Coast and throughout the Southeast the past five years, is retiring July 25.Project holdups linger: Delays are once again plaguing a development in downtown Bradenton involving property once controlled by St. Petersburg developer and entrepreneur Frank Maggio.Buchanan honored by USF: The business education side of the University of South Florida Sarasota-Manatee campus has been renamed the Vernon G. Buchanan College of Business Wing after the congressman, who gave the school $100,000 last year.Sarasota County saves jobs: In an effort to avoid more layoffs and wage freezes, Sarasota County Administrator Jim Ley recommended to Sarasota County commissioners that the county dip into it's so-called stabilization fundNew Fort Myers hospital: Boca Raton-based Promise Healthcare Inc., a long-term acute care hospital company, plans to build a new hospital in Fort Myers.Air Berlin adds flight: Air Berlin, the German airline that recently acquired rival LTU, plans to boost the number of flights from Germany to Southwest Florida International Airport this summer.EDC chief takes buyout: Regina Smith, the executive director of the Lee County Economic Development Office, recently announced

Finance

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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

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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

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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

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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

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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

For Subscribers Only

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

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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

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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

For Subscribers Only

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

For Subscribers Only

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

For Subscribers Only

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

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Work starts on Naples apartments as developer secures $45M in financing

$300K Bradenton EDC contract up for vote in Manatee

27 Gulf Coast companies ranked among fastest growing in Southeast

Tampa tire store franchisor rolls into new brands, buys a restaurant

Tickets on sale for Business Observer's flagship event: Top Entrepreneur Luncheon

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