December 5, 2019

Community Portrait

Key Economic Sectors in Sarasota County

Lynn Waddell | 8/30/2018
Tourism

Tourism’s economic impact last year was just under $2 billion. Visit Sarasota County estimates that 24,700 people work in tourism-related jobs, the equivalent of 13% of the county’s employed workforce.

More than 1.2 million people stayed at lodging places in Sarasota County in 2017, a 4.2% increase over the year before. In the first six months of fiscal 2018, visits were up 2.8% over the same period last year.

On the horizon are a new Atlanta Braves spring training complex and a new Mote Marine Aquarium and renovated Marie Selby Botanical Gardens. Another 1,100 hotel rooms will be added to the market this year.

Professional Services

Professional and business services companies employ more than 25,000 people in Sarasota County.

  • Several area law firms are nationally ranked by U.S. News & World Report, including Shumaker, Loop & Kendrick; Adams and Reese; and Williams Parker.
  • FCCI Insurance provides property and casualty insurance and has $2.4 billion in assets.
  • S-One Holdings is parent to eight brands and companies that offer everything from a crafters social network to inkjet printing.
  • Sylint Group secures cyber networks and does data forensics for Fortune 500 companies.
  • CSi Networks designs, installs and maintains computer networks.
  • The area has a wealth of innovative digital marketing firms that are growing, including atLarge, Clickbooth, Dealers United, AdRizer and Floorforce. On Ideas, which handles traditional and digital marketing, recently landed Fresh Market as a client. Patricia Courtois, On Ideas’ chief client officer, says, “It’s time to grow young creative talent with vibrant high-paying jobs in our organization.”

Financial Services

The area’s wealth has made the financial services sector a strong part of the economy, and the sector has rebounded strongly since the recession: More than 9,000 people work in financial services in the county today.

  • The county is home to community banks (Sabal Palm Bank, 1st Manatee Bank, Englewood Bank & Trust, Charlotte State Bank) along with regional (Bank of Tampa) and a plethora of national banks (PNC Bank, BB&T, Bank of America, Wells Fargo, SunTrust and others).
  • Global Financial Private Capital, one of the largest investment funds in the Tampa Bay region, is based in Sarasota with $5.7 billion in assets under management and 166 employees.

Tags: Sarasota Community Portrait

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