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Finance

  • For Subscribers Only
  • 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
  • For Subscribers Only
  • 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
  • For Subscribers Only
  • 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
  • For Subscribers Only
  • 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

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • February 29, 2008
Gulf Coast Week

Saxon lays off 140: Saxon Mortgage is laying off 140 workers in the Tampa Bay area, according to documents the company filed under the state's Worker Adjustment and Retraining Notification Act.HART uses grant money: Electric streetcar supporters in Tampa are accusing Hillsborough County's bus agency of hijacking nearly $1 million in federal money previously set aside to extend the streetcar line into downtown.Fee spikes on the table: Despite passionate opposition from homebuilders and contractors in the midst of sharp building downturn, Manatee County commissioners are considering raising building permit feesMurdock Village problems: The redevelopment of Murdock Village, an 870-acre site in Port Charlotte designed as a mixed-use project focusing on retail and residentialNaples raises taxes: The City of Naples raised taxes on new construction in a unanimous decision by the City Council Feb. 20.Gilkey on land-use boardStadium plan criticized: More than 100 people spoke at a recent St. Petersburg City Council hearing on the Tampa Bay Rays' downtown ballpark proposal, with the majority objecting to the project.

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • February 22, 2008
Gulf Coast Week

Gonzmarts resignHillsborough service cutsYbor business boostLWR's coming growthBabcock brawl widensAmendment 1 challenge

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • February 15, 2008
Gulf Coast Week

Eroding revenue: Now that Florida voters have overwhelmingly approved Amendment 1, city and county governments are finding themselves faced with a double-whammyMacDill modernization: More than a dozen construction projects are under way or on the drawing board at MacDill Air Force Base in South Tampa.Bradenton, Palmetto transit: Government officials and planners for the cities of Bradenton and Palmetto are working together to find answers to traffic congestion issues.Clerk clarifications: The concept that a county's elected Clerk of the Court has oversight in all matters regarding how county commissioners spend money isn't as widespread as some state legislators would like it to be.Naples air service increase: Just months after Delta Airlines shut down its Naples operation, a second airline announced new passenger service.Lee housing permits anemic: Lee County issued 54 permits in January for single-family homes to be built in unincorporated Lee County, Bonita Springs and Fort Myers Beach.Lee's Horizon Council seeks diversification: Lee County has been hit hard by the real estate downturn and the county's economic development group said it plans to boost efforts to recruit other industries to the area.H&K chief to step down: Holland & Knight's controversial chief won't run for re-election next month, saying his decision is in the Florida law firm's "best interests."

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • February 8, 2008
Gulf Coast Week

Museum demolition begins: Demolition day has come at the Tampa Museum of Art.County to sell cable TV ads: The Tampa Bay area could soon have another TV station competing for local advertising money, run by the government.Hotel simplification: A group of downtown Sarasota hotel operators and future hotel developers are banding together in an effort to form a Hospitality Regional Activity CenterAn entrepreneurial helpline: Small business owners and entrepreneurs seeking help in running their company can now get some assistance from the Economic Development Corp. of Sarasota County.Big Cypress plans: Collier Enterprises has submitted plans for the town of Big Cypress, filing for a "Development of Regional Impact" for the 9,000-home project.December tourism mixedBabcock hires LWR exec

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • February 2, 2008
Gulf Coast Week

Gandy project to beginHometown petition snagCompany wins $20 millionReds look elsewhereWine Festival's $14 millionAirport tops 8 millionHoffman backs McCainWestshore's transit fund

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • January 26, 2008
Gulf Coast Week

Hillsborough pulls money: Hillsborough County pulled $167 million out of the State Board of Administration local government fund amid continued concerns about the fund's investments in the subprime mortgage market.St. Joseph's appeals: St. Joseph's Hospital is appealing last month's decision rejecting its bid to build a new hospital on Big Bend Road in Riverview, east of Tampa.Ikea motion fails: The bickering continues over a Tampa city councilwoman's threat to embarrass furniture store chain Ikea by posting a video on YouTube.Cortez development: Manatee County commissioners recently got their first look at a large-scale condo and mixed-use project proposed for 350 acres of farmland just northeast of the Cortez fishing village in Bradenton.Tomato fight brewing: Burger King is telling suppliers it may stop buying tomatoes from Southwest Florida, according to a letter obtained by the Associated Press.Fishkind: No recession: Florida economist Hank Fishkind says strong exports, decent job growth and continued consumer spending will keep any recession at bay this year.More affordable delays: Sarasota developer Billy Springer is again tinkering with an affordable housing development project in eastern Sarasota County in order to please county government officials and a variety of local neighborhood groups.

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • January 18, 2008
Gulf Coast Week

Superintendent vs. County: In a debate watched by construction and related industries, Hillsborough County's proposal to use money earmarked for school construction to build new roads is a bad idea and probably illegalOfficials fight tax cut: With early voting started and the primary election nearing, government officials are stepping up the campaign to defeat a constitutional amendment to cut property taxes.City denies condo extension: Another downtown Sarasota condo project has fallen on tough times, although this one, known as the Atrium on 1750 Ringling Blvd., is struggling long before the first brick was ever laid.Port lands big one: A South American shipping company has chosen Port Manatee, one of the largest deepwater seaports in Florida, as the location to expand its weekly Gulf of Mexico trips.Enviros raises $20 million: The Conservancy of Southwest Florida, an environmental group in Naples that works closely with developers, has raised $20 million and is seeking an additional $5 million in donations.Naples continue to drop: The Naples Area Board of Realtors recently reported 134 single-family homes sold in December, a 9% drop from the same month a year ago$1.4 million land consultant: Lee County commissioners approved paying Coral Gables-based Dover, Kohl & Partners $1.4 million to conduct a study of 83,000 acres in Southeast Lee County on which they recently placed a moratorium for new development.

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • January 11, 2008
Gulf Coast Week

New Romark drug: Romark Laboratories, a Tampa-based biotechnology company, hopes to prove that a drug used to treat gastrointestinal illnesses in children and adults is effective against hepatitis C, the leading cause of liver transplants in the United States.USF Confucius Institute: The University of South Florida won a competitive bid to launch one of the newest Confucius Institutes, cultural centers that China has spread to universities globally.Work Tools expands: Work Tools International, one of the world's largest manufacturers of specialty and decorative paint applicators, is utilizing a $3.2 million Industrial Revenue Bond to finance an expansion in Pinellas Park.High-end jet service: Corporate Eagle, which sells high-end jet time to companies, will set up shop at St. Petersburg-Clearwater International Airport later this year.Vibhakar pleads guilty: The founder and one-time president of a Palmetto-based aerospace parts manufacturing firm admitted in federal court that he sold the U.S. military old and insufficient helicopter engine parts.Permits down to 35: Builders in unincorporated Lee County, Bonita Springs and Fort Myers Beach pulled 35 single-family building permits in December, the lowest since the 45 pulled in November 1981.WCI gets lender extension: Lenders to Bonita Springs-based homebuilder WCI Communities gave the company another nine days to renegotiate loans so it can avoid insolvency. The new deadline is J

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • December 21, 2007
Gulf Coast Week

Funding delays projects: A projected decline in gas taxes is forcing the Department of Transportation to scale back its five-year roadwork program across the state.Fewer overseas visitors: Fewer tourists from Europe and Canada have visited Pinellas County this year than last, despite a favorable dollar exchange for international guests that has boosted business in shopping and entertainment meccas such as New York and Las Vegas.Chamber program ahead: The Greater Sarasota Chamber of Commerce's Sarasota Tomorrow program, a five-year campaign designed to improve the area's sluggish business climate, is off to a better start than even its optimistic organizers originally thought.Airport commerce park: The agency that operates Southwest Florida International Airport plans to lease land to a Denver developer to build a commercial park on airport property.Drought forces limits: The South Florida Water Management District has imposed irrigation limits on businesses and residents throughout the region, including Lee and Collier counties.

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • December 14, 2007
Gulf Coast Week

Brandon bypass dumped: Activists trying to reform Hillsborough County's growth management policies recently succeeded, as officials voted unanimously to take the route that would sweep through southeastern Hillsborough off the Metropolitan Planning Organization's list of needed transportation improvements.PODS buyout in the works: The Clearwater-based PODS could be bought soon by a Bahrain-based investment company, according to PODS officials.Home Depot lays off 750: Home Depot Inc. is laying off 750 people in the Tampa Bay area and will close its Brandon call center Jan. 28.The judges scorecard: Sarasota and Manatee county attorneys recently had a chance to judge judges, and the results are inLee County toll study: Lee County commissioners approved a study that will help the Southwest Florida Expressway Authority determine how much to charge on any new toll lanes on Interstate 75.Airport hotel proposed: An Albany, N.Y.-based developer is proposing to build a hotel on the road leading to Southwest Florida International Airport in Fort Myers.Hispanic Institute formed: Hodges University has enlisted the help of the Southwest Florida Hispanic Chamber of Commerce to create the Hispanic Institute.

  • Finance
  • For Subscribers Only
  • By Business Observer Staff
  • December 7, 2007
Gulf Coast Week

Redevelopment is key: Most attention has been focused on the plan for a waterfront ballpark for the Tampa Bay Rays, topped with a soaring sail strung from a 320-foot-tall mast.Distributor to expand: A Miramar-based liquor distributor plans to add as many as 550 employees and build a huge warehouse facility in south Hillsborough County.Class action suit proceeds: The U.S. Court of Federal Claims has certified a landowner-government dispute in Sarasota County as a class action case open to all property owners in the effected areas.First Banks enters Florida: St. Louis-based First Banks, one of the largest privately held bank holding companies in the country, is officially entering Florida, and specifically the Gulf Coast, at a bargain price.I-75 widening debate: Lee and Collier county commissioners will decide by January whether to agree to toll the two new lanes that will be built by the state on Intestate 75 in the next several years.November permits plunge: Residential homebuilding permits fell 83% in November from the same month a year ago in Lee County. Lee County's community development department issued 60 residential permits in November compared to 357 in November 2006.

  • Finance
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