Southwest Fla.: How Bad Is It?
Aviation
Holding Pattern
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“I’m in a certain niche, and that’s Gulfstreams. Our service center business is holding steady. I have noticed that some of my customers who were flying airplanes are not flying them as much because of the cost of fuel. And we’ve had a few customers that are getting out of their airplanes because they can’t afford them. Last year, jet fuel was in the $3.50 to $4.50 a gallon range. It’s now in the $5 to $8 range. I would say we’re not going to see a big uptick (in profits) this year.”
— Vincent Wolanin,
chairman and founder,
PrivateSky Aviation, Fort Myers
Retail
Holiday Jitters
“Of the 200 businesses in downtown New Port Richey, most are retail shops and restaurants. It has been a little bit leaner this summer. I think the retailers are nervous about the upcoming holiday season. They’re gearing up for it a little earlier, in October instead of November. They’re trying to get a little bit more creative in their purchasing so they don’t overpurchase but also try to expand their sales.”
— Judy DeBella Thomas,
executive director,
New Port Richey Main Street Inc.
Home Building
Discount Pricing
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“I don’t mind saying that the housing cycle has an ebb and flow — and we’re at an ebb now. That means prices are lower. Oddly, I have a new house that will be less expensive than a house I offered at the Peridia Golf and Country Club in 1989. My average home price in July 2005 was $550,000. The average price as of August 2008 is $325,644. We’ve sold 128 homes so far this year, more than 2007, so our sales offices are still active. We’re simply selling more at a lower price level.”
— Pat Neal, president,
Neal Communities,
Lakewood Ranch
Restaurants
Price Check
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“I wouldn’t mislead anybody and say we’re in double-digit growth or anything, but we think we’ll end the year up about 1% in same-store sales. My theory is it might have to do with the lower average check area that we’re in. Our average check is under $8. Maybe the average-check restaurants that are at $40 or $60, maybe the economy would be affecting those brands differently.”
— Kenneth L. Pendery Jr.,
CEO,
First Watch Restaurants,
Sarasota
Medical Manufacturing
No Downturn
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“Florida has a very strong medical device industry, second only to California in the number of facilities (about 600 across Florida). And the Tampa Bay area accounts for about 34% of the total state activity in medical devices. We seldom see the economic swings, and we’re not seeing a downturn now. At NDH Medical, our growth remains strong. We’re exceeding our target of 15% compound annual growth. Most of our colleagues in the industry are extremely busy right now.”
— Geary Havran,president, NDH Medical, chairman, Florida Medical Manufacturers’ Consortium,
St. Petersburg
| Unemployment | |||
| Metro Area | August 2007 | August 2008 | Number Unemployed |
| Bradenton-Sarasota-Venice (Manatee and Sarasota) | 4.6% | 7.3% | 24,368 |
| Cape Coral-Fort Myers (Lee) | 5.3 | 9.0 | 25,542 |
| Naples-Marco Island (Collier) | 5.7 | 8.4 | 12,513 |
| Punta Gorda (Charlotte) | 5.8 | 9.2 | 6,331 |
| Tampa-St. Petersburg-Clearwater (Hernando, Hillsborough, Pasco, and Pinellas) | 4.5 | 6.9 | 94,976 |
| Source: Agency for Workforce Innovation | |||
| Existing-Home Sales | ||||
| Metro Area | August Sales | 1-Year Chg. | August Median $ | 1-Year Chg. |
| Lakeland- Winter Haven | 250 | -20% | $134,800 | -21% |
| Marco Island | 29 | -17 | 435,700 | -14 |
| Punta Gorda | 176 | -21 | 138,100 | -26 |
| Sarasota-Bradenton | 551 | -29 | 218,200 | -25 |
| Tampa-St. Petersburg-Clearwater | 2,154 | N/C | 171,200 | -20 |
| Source: Florida Association of Realtors | ||||
| Gross Sales (Jan.-June ‘08 vs. Jan.-June ‘07) | ||
| County | % Change | $ Change |
| Charlotte | -10.5% | -$228,237,170 |
| Citrus | +9.3 | +126,676,202 |
| Collier | -5.8 | -382,430,516 |
| De Soto | +12.7 | +95,385,153 |
| Glades | +22.7 | +12,835,172 |
| Hardee | -1.5 | -4,388,731 |
| Hendry | -5.9 | -45,873,551 |
| Hernando | -10.0 | -298,600,542 |
| Highlands | -4.2 | -50,067,967 |
| Hillsborough | -0.6 | -195,917,403 |
| Lee | -9.5 | -1,038,909,854 |
| Manatee | -1.8 | -93,969,330 |
| Pasco | -5.8 | -291,458,230 |
| Pinellas | -0.9 | -172,252,811 |
| Polk | -0.4 | -60,692,458 |
| Sarasota | -12.6 | -970,641,727 |
| Source: Florida Department of Revenue | ||
| School Enrollment Change | ||
| County | % Change (from 2007-08) | Student Change |
| Charlotte | -2.44% | -443 |
| Citrus | -0.42 | -67 |
| Collier | -1.42 | -610 |
| De Soto | -0.37 | -19 |
| Glades | +2.72 | +36 |
| Hardee | -0.28 | -14 |
| Hendry | -3.39 | -254 |
| Hernando | -1.08 | -247 |
| Highlands | -2.18 | -271 |
| Hillsborough | -1.17 | -2,249 |
| Lee | -0.69 | -557 |
| Manatee | -3.06 | -1,331 |
| Pasco | +2.40 | +1,598 |
| Pinellas | -1.92 | -2,076 |
| Polk | -2.97 | -2,760 |
| Sarasota | -2.20 | -953 |
| Source: Florida Department of Education | ||