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Economic Yearbook 2007
SOUTHWEST: New Directions
A commercial boom.
Collier County
KEY TREND: The pace of growth in the eastern part of the county is increasing. The town of Ave Maria, the mixed-use development spearheaded by Domino's Pizza magnate Tom Monaghan, is located 17 miles east of Naples. The development will eventually include a college and up to 11,000 residences, along with retail, entertainment and other commercial businesses. Nearby, Collier Enterprises is planning Big Cypress, a 25,000-resident development that would be built over the next 25 to 30 years. Tammie Nemecek, president of the Economic Development Council of Collier County, expects the new communities in eastern Collier to attract second-home buyers, retirees and working families.
Fort Myers / Cape Coral
CHALLENGE: One of the weakest residential housing markets in the state, according to a recent study by Fishkind & Associates. Condo sales in Fort Myers/ Cape Coral declined 48% in 2006, single-family home sales dropped by 25%, and building permits have dropped off by about half from a year ago. The trend could slow the city's efforts to revitalize its downtown River District and spill over into the retail and commercial development. ... At the same time, persistent red tide is generating concern over the future of the region's $2-billion tourism industry.
BRIGHT SPOT: Increasing demand for industrial space.
Innovators
? As it looked for ways to eliminate the Australia-native Melaleuca tree, an invasive plant species in Florida, Forestry Resources owner John Cauthen discovered that Melaleuca made good mulch. Last year the company sold some $17.5 million worth of the mulch and has become the largest colored-mulch processor and supplier in southwest Florida.
? In 1957, Raymond Building Supply Corp. operated the smallest lumberyard in Fort Myers. Today, the company has 650 employees and recently opened three facilities. In 2005, employees earned more than $3 million in incentives from the company's "safety bonus" program.
? In 2005, the Lee County Building Industry Association launched its Builders Care initiative, a program in which builders donated time, labor and materials to help repair and renovate homes of needy elderly and disabled individuals. The non-profit managed to raise $17,000 from builders to pay for a custom wheelchair for one disabled homeowner and prompted several major builders to commit to future projects.
