Northwest Fla.: How Bad Is It?
[Photo: U.S. Army] |
‘Well-Funded’
“The defense business is well-funded because of increased demands for modern equipment to support military operations. We have 370 employees now, up from 300 a year ago and expect to have 400 by year-end — average pay, $35,000. We make the electronics for armored vehicles, to keep our soldiers out of harm’s way. We’re impacted by the economic downturn, however,
Rob Cowan |
— Rob Cowan, human resources manager, General Dynamics Land Systems, Tallahassee
Economy
Most Indicators Are Down
“Single-family home sales in August compared to a year ago were down between 22% and 45% in the region’s four metro markets. Except for the Fort Walton Beach area, August declines were greater than year-to-date decreases, suggesting we still have some distance to go before we exit the slump.
Rick Harper |
of the state.”
— Rick Harper, director, Haas Center for Business Research and Economic Development, University of West Florida, Pensacola
Existing-Home Sales | ||||
Metro Area | August Sales | 1-Yr. Chg. | August Median $ | 1-Yr. Chg. |
Fort Walton Beach | 223 | +2% | $203,900 | -10% |
Panama City | 96 | -29 | 192,300 | -3 |
Pensacola | 288 | -31 | 154,400 | -8 |
Tallahassee | 156 | -42 | 186,700 | -10 |
Source: Florida Association of Realtors |
Retail
Downscaling
“Shoppers are being more cautious and conservative with their money — looking for lower ticket items or items that offer more value. We are located in a resort destination along the Gulf Coast, which is visited by over 17 million people each year. People tend to have more leisure time when they are on vacation, and they are still shopping and dining, just on a smaller scale. Our car traffic at Silver Sands year-to-date is up 9% versus last year; average sales per square foot and total center sales are up slightly.”
— Myra Williams, vice president of marketing, Howard Group, parent company of Silver Sands Factory Stores and Grand Boulevard, Destin
Government/Workforce
An Uptick — in Job Hunters
“We’re seeing a 30 to 35% increase in people coming in to our three One Stop centers — more people applying for welfare and unemployment benefits, more looking for jobs or second jobs. WestPoint Home closed a 150-employee plant at Marianna last year. Other companies are making do with fewer workers. Our five-county unemployment average, at 5.9% in August, was highest overall since 1993. To me, it seems worse than it was back in ’91. But there are bright spots, a lot related to renewable energy, for example use of biomass for generating electricity.”
— Richard Williams, executive director, Chipola Regional Work Force Board
Next page: Charts on Gross Sales, Unemployment and School Enrollment Change for the Northwest region of Florida
Gross Sales (Jan.-June 08 vs. Jan.-June 07) | ||
County | % Change | $ Change |
Bay | +0.9% | +$25,450,857 |
Calhoun | +0.4 | +279,935 |
Dixie | -4.0 | -4,407,982 |
Escambia | -8.9 | -436,763,921 |
Franklin | +7.6 | +8,482,952 |
Gadsden | +3.1 | +18,257,249 |
Gulf | -7.4 | -8,887,395 |
Holmes | -1.6 | -1,885,709 |
Jackson | +3.9 | +20,962,892 |
Jefferson | -8.2 | -8,208,128 |
Lafayette | +25.1 | +14,856,082 |
Leon | -1.5 | -57,412,151 |
Liberty | +16.6 | +7,431,750 |
Madison | +5.6 | +5,883,111 |
Okaloosa | -3.1 | -115,006,961 |
Santa Rosa | +1.7 | +19,422,736 |
Taylor | -9.3 | -22,869,291 |
Wakulla | -3.6 | -6,477,190) |
Walton | -4.3 | -41,606,203 |
Washington | +6.6 | +10,751,728 |
Source: Florida Department of Revenue |
Unemployment | |||
Metro Area | August 2007 | August 2008 | Number Unemployed |
Fort Walton Beach/ Crestview/ Destin (Okaloosa) | 3.1% | 4.7% | 4,771 |
Panama City/ Lynn Haven (Bay) | 3.6 | 5.4 | 4,812 |
Pensacola/ Ferry Pass/ Brent (Escambia, Santa Rosa) | 4.0 | 6.1 | 13,200 |
Tallahassee (Gadsden, Jefferson, Leon, Wakulla) | 3.5 | 5.3 | 9,850 |
Source: Agency for Workforce Innovation |
School Enrollment Change | ||
County | % Change (from 2007-08) |
Student Change |
Bay | +1.93% | +97 |
Calhoun | +1.27 | +28 |
Dixie | -2.30 | -51 |
Escambia | -2.87 | -1,201 |
Franklin | +2.08 | +25 |
Gadsden | -5.40 | -363 |
Gulf | -5.51 | -119 |
Holmes | -1.08 | -37 |
Jackson | -0.26 | -19 |
Jefferson | -5.28 | -60 |
Lafayette | +0.99 | +11 |
Leon | -1.86 | -607 |
Liberty | -4.09 | -61 |
Madison | -5.24 | -145 |
Okaloosa | -1.98 | -595 |
Santa Rosa | -1.58 | -403 |
Taylor | -3.26 | -110 |
Wakulla | -5.71 | -292 |
Walton | -8.04 | -556 |
Washington | -1.08 | -39 |
Source: Florida Department of Education |