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Central Florida, Space Coast Business Briefs - March 2009
BREVARD COUNTY —
Melbourne-based Harris Corp. (NYSE-HRS) is evaluating what do to with its 56% ownership in 2-year-old Harris Stratex Networks (Nasdaq-HSTX). It’s considering spinning off the company, making a secondary public offering or selling all or part of its shares, says Harris CEO Howard Lance. Also, Harris has been awarded two contracts totaling more than $5 million to provide tactical radio equipment for the Ministry of Defense in Estonia.
LAKE COUNTY —
Newly chartered First Green Bank plans to encourage sustainability by offering lower interest rates for commercial projects that meet the U.S. Green Building Council’s LEED standards. The bank will also reward its employees with no-interest loans and paid sabbaticals for engaging in green practices. President Ken LaRoe was the founder of Florida Choice Bank, which was sold to RBC Centura Bank.
» A Coldwater Creek store is moving into the Villages at Lake Sumter Landing Town Center, and three other retailers have agreed to lease space in the Buffalo Ridge center: Barnie’s Coffee & Tea, General Nutrition Center and Modern Endodontics.
MAITLAND —
Texas-based EZCorp bought Value Financial Services, which operates Value Pawn and Jewelry stores, for $130 million in cash and stock. Value Pawn’s 67 stores will continue to operate under their own name out of Maitland. Value Pawn’s founder, John Thedford, has been named president of the new parent company.
ORLANDO —
Orlando’s hotel industry last year reported its worst November since 2001, with an average 53% occupancy, according to Smith Travel Research. By comparison, occupancy in November 2007 was 62.6%; in November 2001, occupancy was 51.4%.
» Enterprise Florida has tapped local firm Milcom Venture Partners and Credit Suisse Customized Fund Investment Group of New York to operate a new $30-million investment management network that will finance promising startup companies. The network is recruiting venture capital firms.
» 360 Software Corp. has become a prime contractor for the U.S. Navy and Marines after serving as a subcontractor for Department of Defense programs. The company will provide products and services in research and development, engineering systems, simulation, software engineering, information systems and other areas.
» A partnership between the University of Central Florida and Orlando-
based Florida Virtual School will allow six university students to intern with virtual teachers. Florida Virtual School served more than 63,000 students in grades six through 12 in 2007-08 via the internet.
» Clean technology company NovaSol Energy in Orlando is partnering with Maitland-based NAI Realvest to install solar energy systems in retail, multifamily residential, commercial and industrial properties throughout the state.
» Johnson-Laux Construction has won a multiyear contract with Indyne Inc. to provide construction services for the U.S. Air Force at Kennedy Space Center, Cape Canaveral Air Station and Patrick
Air Force Base.
PALM COAST —
» A group of municipalities and agencies led by Palm Coast is looking into the cost of building a desalination plant that would convert ocean water into drinking water to supplement the ground water supply. Palm Coast consumes about 7 million gallons a day and will need an estimated 10.7 million daily by 2010.
SEMINOLE COUNTY —
» Orlando Sanford International Airport says a new energy savings campaign lowered its costs by $38,000 in December, or 38% over the year before. The program involves facility upgrades and other conservation measures.
WINTER PARK —
» Casa Feliz, the Robert Bruce Barbour House, has been listed on the National Register of Historic Places. The Spanish eclectic-style home was moved in 2000 to preserve it from demolition.
