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Economic Yearbook 2007
SOUTHWEST: New Directions
A commercial boom.
Lee County
KEY TRENDS: Job growth and retail development. Two megamalls opened last year -- Coconut Point in Estero and Gulf Coast Town Center in San Carlos Park -- adding about 3 million square feet of retail space. But with unemployment hovering at 3.3%, shop owners are hardpressed to find employees for the jobs. Since December 2005, the county has added 8,400 non-agricultural jobs -- a 3.6% increase. The transportation, warehousing and utilities sector led the way with 9.3% job growth.
Charlotte County
KEY TREND: The county's residential real estate market is expected to remain flat, but commercial construction is increasing the region's inventory of available office space. ... The county is also getting a boost from developer Syd Kitson, who recently donated $3 million and 67 acres -- a gift worth $7.6 million -- to Florida Gulf Coast University so the school can establish a Center for Environmental Research and Outreach. The research center will be at Babcock Ranch, an 18,000-acre site where Kitson plans to build a mixed-use development.
De Soto / Highlands / Hardee Counties
Fort Myers developer Cameratta Properties last year bought 5,860 acres just south of Arcadia in De Soto County where it plans to build a master-planned community called DeSoto Estates, with 15,000 residential units and 1.5 million square feet of commercial space by 2020. ... Neighboring Highlands County is celebrating the expansion of Funder America, which makes laminated wood products with high-tech equipment. The company is building its third manufacturing facility in Sebring.
Glades / Hendry Counties
Upscale developers like the Bonita Bay Group are preparing to build mixed-use developments in LaBelle and other parts of Hendry County. Meanwhile, Florida Power & Light is preparing to build a coal-burning power plant in Glades County. And in July, the 440-bed Glades County Detention Center will open, housing federal and INS detainees along with local inmates.
