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May 27, 2018

Economic Yearbook 2008

SPACE COAST: Back to Earth

Barbara Miracle | 4/1/2008


Car Boom (Daytona Beach)
Lesa France Kennedy

Lesa France Kennedy
» Lesa France Kennedy, president of International Speedway Corp., leads the development of Daytona Live!, a project that will include a 2,500-seat multiscreen theater, 200,000 square feet of retail/dining/entertainment space, a 160-room hotel, 222,000 square feet of office space and 450 condos/lofts.
[Photo: Kelly LaDuke]
Questions about the impact of the economic slowdown on tourism are offset by optimism around a major expansion of the Ocean Center convention center, several new entertainment venues and the weak U.S. dollar. In February, domestic travel to Daytona got a boost when U.S. Airways began three daily round-trip flights to Charlotte, N.C., and AirTran launched daily round-trip service to New York.


» Larry Fornari, chairman of the Halifax Area Advertising Authority, is active in promoting Daytona tourism. He serves on the board and is a past president of the Hotel Motel Association of Volusia County. For the past year, since selling the Palm Plaza Oceanfront Resort and Beachside Motel, he has been a hospitality consultant. Of Daytona’s redevelopment, he says, "We’re seeing a lot of renovation of older product into newer product."


Condo prices in Daytona Beach held their own in 2007, rising 2%, compared with a statewide decline of 3%. While prices were up, condo unit sales were down, falling to 1,015 units in 2007, down 12% from 2006, according to the Florida Association of Realtors and the University of Florida Real Estate Research Center. Single-family home sales were down 24%, a little better than the 29% sales drop statewide. The median sales price was down 9% to $197,300, putting the city in the bottom half of Florida metropolitan areas in terms of single-family housing prices.

Industry 2007 2015* Percent change
Professional and business services 21,914 28,819 3.94%
Education and health services 30,709 37,720 2.85
Leisure and hospitality 21,684 24,851 1.83
Other services 8,639 9,883 1.80
Information 3,019 3,404 1.59
Government 24,376 27,314 1.51
Trade, transportation and utilities 33,709 37,101 1.26
Financial activities 8,376 9,184 1.21
Construction 13,618 14,614 .91
Manufacturing 10,692 11,020 .38
Agriculture, forestry, fishing, hunting 2,136 2,305 -0.59
* Projection Source:
Florida Agency for Workforce Innovation, Labor Market Statistics, September 2007

Tags: Space Coast

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