GROWING 2016 FLORIDA BUSINESS What you need to know to do business in the Sunshine State.

JACKSONVILLE FLORIDA ORLANDO SOUTH FLORIDA TAMPA BAY JACKSONVILLE: WE WORK!

NASSAU COUNTY Crawford Diamond certified industrial mega-site where CSX and Norfolk Southern rail lines intersect

BAKER COUNTY # Industrial parks with up to 12.5 million sq. ft. 2 HOT SPOT of developable land WHERE AMERICANS ARE MOVING - Realtor.com DUVAL COUNTY Jacksonville #2 best cities for tech (outside CA & NY) – DataFox

CLAY COUNTY First Coast Expressway under construction to expand connectivity and development

ST. JOHNS COUNTY Florida’s #1 public school system and healthiest county

PUTNAM COUNTY 3rd largest percentage of workforce in the manufacturing sector

FLAGLER COUNTY 17+ million sq. ft. of entitled commercial and industrial space for development

A drive to succeed, an entrepreneurial attitude and an attractive, business-friendly environment, with millions of 20+ INSTITUTIONS OF HIGHER LEARNING open exchange of products, ideas and opinions are square feet of developable land and entitled commercial ACCESS TO I-95, I-10 & 1-75 just some of what has made the Jacksonville region a and industrial space, as well as one of the lowest tax global beacon for economic development. Recognized rates in the country—and no personal income tax. 3 RAIL LINES: CSX, NORFOLK SOUTHERN & FLORIDA EAST COAST RAILWAY 12 TH FASTEST by Forbes as a top metro for job growth and by U.S. News As the region’s premier economic DEEP WATER PORTS: JAXPORT & GROWING AREA & World Report as one of the development organization, JAXUSA PORT OF FERNANDINA best places to live in America, Northeast Florida is NO Partnership uses strategic research clearly on the move. PERSONAL and targeted marketing to recruit new INCOME TAX companies and expand the existing More than 80 national and regional OF business community. And with the added support companies are headquartered here, 1( ONLY )3 of economic development partners in the counties including 3 Fortune 500 companies. MAYO CLINICS throughout the region, industries of all types and From Aviation to Financial Services and Information sizes are afforded a wealth of opportunities. Technology, Jacksonville offers companies a highly JAXUSA.ORG

BAKER • CLAY • DUVAL • FLAGLER • NASSAU • PUTNAM • ST. JOHNS JUNE 24, 2016 3 TABLE OF CONTENTS JACKSONVILLE The numbers inside the MSA, 5 The big deals of the year in economic development, 6 Health care, 6 Sports business, manufacturing, 7 Financial services, logistics, 8

ORLANDO The numbers inside the MSA, 9 Higher education, technology, 10 Q&A with the Orlando EDC’s Dave Porter, 11 Tourism, 12 The big deals of the year in economic development, 13 Health care, commercial real estate, 14

SOUTH FLORIDA The numbers inside the MSA, 20 Banking, 21 The big deals of the year in economic development, 22 Real estate, 23 Tourism, 24 Health care, 25 Restaurants and retail, 26

TAMPA BAY

The numbers inside the MSA, 27 Banking, 28 The big deals of the year in economic development, 29 Retail, 29 Tourism, commercial real estate, 30

THE LISTS

Economic development agencies, 15Œ17 Florida seaports, 18 Florida airports, 19 4 FLORIDA BUSINESS JOURNALS GROWING FLORIDA

EDITORS’ LETTER FLORIDA’S ECONOMIC TURNAROUND IN FULL GROWTH MODE FOR NOW

lorida continued to R Florida has more than $153 facility on NASA property next to MEET THE EDITORS... demonstrate its compet- billion in annual merchandise the Kennedy Space Center? One- F itiveness in the econom- trade. Web’s 100,000-square-foot facil- ic development realm this past R Florida has more than $840 ity will create 250 high-wage jobs year, as competition for reloca- billion in personal income, mak- with an average wage of $65,579 tions, expansions and corporate ing us No. 1 in the Southeast. within five years. headquarters continues to get R Florida was named the sec- And up in North Florida, the more robust every day. ond-best state for business by biggest news in economic devel- Most metros across the state Chief Executive magazine. opment is a $200 million fulfill- made further strides in economic The state’s attractiveness ment center widely believed to be recovery as unemployment con- because of no state income tax, Amazon that could bring 1,500 quality of life and great weath- jobs to Jacksonville’s Northside. tinued to tick downward, home- TIMOTHY GIBBONS builders started new projects, er helped it attract big deals such That was some of the good Jacksonville visitors frequented the state in as Telemundo signing what is news from this past year. ¡e record numbers and cranes once believed to be the largest com- bad news, some believe, was the again dotted the downtown land- mercial lease in Florida history Florida Legislature’s decision to scapes across Florida. to build a headquarters and stu- not approve a $250 million Flor- Here’s some interesting data dio in Miami-Dade County. ida Enterprise Fund that could from Enterprise Florida: Or how about TECO Ener- be used to lure businesses to the gy Inc. (NYSE: TE), the owner of state. R Florida has the fourth-larg- Tampa Electric Co., agreeing to How that will play out this est economy in the U.S. and be acquired by Emera Inc. (TSX: year and into 2017, no one knows 18th-largest economy in the EMA) for $10.4 billion, as well as at this point, but it does create an world. Central Florida’s own addition of interesting conundrum for eco- CINDY BARTH R Our population of 20,271,272 Blue Origin’s 250,000-square- nomic development in Florida. Orlando makes Florida the third-largest foot rocket manufacturing facil- Yet even with a few challeng- U.S. state. ity in Cape Canaveral and sat- es, it does seem that we’re mak- R 98.9 million tourists visited ellite manufacturing company ing strides in bolstering strong the state last year. OneWeb’s plans to build a major economic growth once again.

FLORIDA BY THE NUMBERS MOST POPULOUS BUSINESS INCOME & PROPERTY

20,271,272 7,441,584 $47,212 MEL MELENDEZ population, 2015; Ranked 3rd total employment; median household income South Florida (National: 321,418,820) 4.3% change 20132014 (National average: $53,482) (National: 121,079,879) HIGHEST DENSITY 807,817 66.1% 378.0 Women-owned ’irms, 2012 Owner-occupied housing units population per square mile, (National average: 64.4%) 2015; Ranked 9th (National: 9,878,397)

AGE 5.5% 926,112 27.8% persons under 5 years, 2014 Minority-owned ’irms, 2012 Language other than English 20.4% (National: 7,952,386) spoken at home ALEXIS MUELLNER persons under 18 years, 2014 (National average: 20.9%) Tampa Bay 54.0% persons 18 65 years, 2014 185,756

19.1% Veteran-owned ’irms, 2012 U.S. CENSUS BUREAU persons 65 years and over, 2014 (National: 2,521,682) *DATA NOT DISTRIBUTED BY COUNTY JUNE 24, 2016 5 Jacksonville MSA numbers inside Baker, Clay, Duval, Nassau and St. Johns counties

ISTOCK PORT OF JACKSONVILLE JACKSONVILLE RESIDENTIAL REAL ESTATE COMMERCIAL Total waterborne tonnage INTERNATIONAL AIRPORT SINGLEFAMILY HOMES SALES REAL ESTATE handled (*projected) 62,428,556 Total square feet of oŒice +11.1% inventory Increase 29 domestic cities nonstop from 2014 10.2% OŒice vacancy rate

2015: 26,605 2 international cities nonstop 125,706,697 Total square feet of industrial MEDIAN SALE PRICE space 6.9% +6.9% Industrial vacancy rate Increase from 2014 8,284,531 8,215,232 8,226,500 8,512,224* SOURCES: FLORIDA REALTORS, COSTAR, JAXPORT, JACKSONVILLE FY FY FY FY INTERNATIONAL AIRPORT, UNITED 2013 2014 2015 2016 2015: $170,000 STATES CENSUS BUREAU, 6 FLORIDA BUSINESS JOURNALS GROWING FLORIDA

BIG DEALS ECONOMIC DEVELOPMENT DEALS BRINGING NEW JOBS BY DEREK GILLIAM economic incentive package with plans to [email protected] invest $2 million. Those announcements came on the heels of 904­265­2219, @JBJGilliam the Macquarie Group announcing Jacksonville as the site of a global ’inance services center The biggest news in economic development is and Grant Thornton opening an o˜ice here. a $200 million ful’illment center widely believed The Macquarie Group opened its Jacksonville to be Amazon that could bring 1,500 jobs to o˜ice in the Riverplace Tower in January where Jacksonville’s Northside. it plans to eventually employ about 120 people. That area of the city has once again become a focus of economic development activity, said Grant Thornton opened in the Bank of America Kirk Wendland, executive director of the o˜ice Tower in May with 20 employees and plans to of economic development. double in size in about a year. “One of the things that you’re going to see Meanwhile, City Refrigeration, a United our o˜ice focus more on is the economically JAMES CRICHLOW Kingdom company that specializes in distressed areas of the community,” he said. Jacksonville Mayor Lenny Curry refrigerators and freezers, announced in “What we are trying to do is look at those announced that Ernst & Young will open a March that it had picked Jacksonville to be the targeted industries that are high capital delivery center creating 450 jobs. headquarters of the company’s U.S. operations, investment and pay high wages.” with plans to invest $5.7 million into its The city and state have signed o› on $18.4 A group of ’inancial-sector moves also operations in Jacksonville. million in incentives for the project. will have a major impact, with Ernst & Young The company has leased space at the Although o˜icials have not revealed who’s and FIS Global both planning to expand their Cypress Point Business Park while it also behind the deal, sources have told the Business workforces by the hundreds. Ernst & Young will partners with Southeastern Grocers, the parent Journal it is Amazon, and the developer heading hire 450 employees and FIS Global will hire 250. company of Harveys, Bi-Lo and Winn-Dixie. The up the project — Seefried Industrial Properties Ernst & Young received a $3.3 million incentive incentive package o›ered to City Refrigeration — has done work for the company in the past. package, and FIS Global received a $1.25 million totaled $353,000.

HEALTH CARE Mayo Clinic expansion buoys health care business certi’ied in emergency pediatric BY ALEXA EPITROPOULOS medicine, in addition to pediatric [email protected] nurses, respiratory therapists and 904­265­2218, @JBJAlexa radiology. Jacksonville’s Westside also Mayo Clinic’s Jacksonville campus has seen more health care is embarking on a $100 million development, with Orange Park expansion, with the centerpiece Medical Center, a 52-room trauma of the plan the construction of a center, getting the go-ahead from 150,000-square-foot, four-story the Florida Department of Health. center that could eventually The center opened in May. expand to 11 stories. Orange Park Medical Center The new center will have two is the second trauma center in stories devoted to hematology Jacksonville after UF Health, and oncology, doubling the which is located on Jacksonville’s department’s size and capacity. Northside. Mayo’s new building also will St. Vincent’s Medical Center, have an area for chemotherapy which has locations in Riverside, and a ’loor that will only be used the Southside and Clay County, for neurology and neurosurgery. recently extended its coverage to The center, which will begin FILE PHOTO veterans through a partnership construction this summer, aims Mayo Clinic Cancer Center, Jacksonville with the Veterans Choice Program. to be a game-changer for the The new partnership will allow Mayo Clinic, which expects to see oncology ’loor, and 12 more demand for services in the area. veterans to get care from 50 sites 126,000 people visit the center in neurologists and neurosurgeons. The facility, which opened across the region, and St. Vincent’s its ’irst year of operation. Meanwhile, Baptist Health has in April, has 16 beds and two will be one of the only hospitals The expansion also will boost opened its standalone emergency emergency centers. One is outside of the VA to o›er coverage hiring, with a 50 percent increase room near the St. Johns Town Wolfson Children’s Emergency to veterans in the northeast Florida in sta› for the hematology and Center to accommodate growing Center, which includes physicians region. JUNE 24, 2016 7

SPORTS BUSINESS MANUFACTURING Manufacturing gets boost from political spotlight, MAJOR IMPROVEMENTS IN new investments STORE FOR JACKSONVILLE’S North Florida manufacturing has been in the political spotlight, starting with President Barack Obama visiting Saft America in February. PRO SPORTS INDUSTRY Obama came to the lithium ion battery manufacturer to show how successful the company has been since it received funding from the president’s stimulus package. The political momentum could continue, with state Rep. Lake Ray, president of North Florida’s manufacturing association, running for U.S. Congress. One of Jacksonville’s biggest projects, the GE Oil & Gas manufacturing facility, is continuing to grow, and will be fully operational by the end of this year. “We have set up an advanced manufacturing system that’s state of the art,” said CEO Lorenzo Simonelli. “We have an integrated platform that allows us to modularize our engineering and production. So far, we’ve hired about 375 people and plan to have 500 by October.” Meanwhile, Jacksonville has a new manufacturing facility on the horizon: The Anheuser-Busch expansion of its Metal Container Corp. plant. The $175 million project broke ground in March and will have the equipment to manufacture aluminum bottles by the širst quarter of 2017. The investment includes $15 million in state and city incentives, part of which will be used for training the skilled manufacturing workforce. “When you bring on 75 new employees, training FILE PHOTO is key,” Plant Manager Bryan Sullivan said. “They’ll be A look at Everbank Field’s new southern end zone and seating configuration. new to can and bottle making. It’s great to have the e stadium has been under renovation throughout the spring and will be training incentives there. We’ll work with the city of ready for the team’s first pre-season game in August. Jacksonville, CareerSource and Florida State College at Jacksonville. It’s great to have the commitment from the city.” The beginning of construction for the from longtime owners the Bragan family. However, there have been some rough patches in Jacksonville Jaguars’ amphitheater and Babby’s improvements are designed North Florida manufacturing. BAE Shipyards, which šlex šield continues to fuel excitement in to improve the game-day experience and does commercial and military ship repair, has laid ož northeast Florida’s sports business sector. promote Suns games as family-friendly 130 employees and could lay ož 180 more. There has The Jaguars announced plans for events. Some of the notable additions been less work at the shipyard because of a drop in the 5,000-šixed-seat amphitheater in are a two-tier tiki terrace, a new and Navy contracts, and the company has been forced to November. The structure aims to be as improved restaurant with views of the downsize. multi-purpose as possible and will serve baseball šield, more picnic areas and an Even so, BAE is hopeful it may be able to bounce as a much-needed indoor practice facility overhauled ballpark food menu. back, especially through commercial ship work. for the team, in addition to a concert The Players Championship, which is “As a company, we think the shipyard is well- venue and event space. held annually in May, has made major positioned to perform commercial ship repair work,” A timeline for the construction isn’t improvements, adding new venues, said Karl Johnson, a spokesman. “Our facilities and clear yet, but initial work began in April. improved amenities and infrastructure, workforce can do a variety of things in the ship repair The benešits of the šield aren’t just and luxury corporate partners. There are market.” for the Jaguars: The aim is to also be plans to make more improvements in the — Jensen Werley part of the revitalization of Jacksonville’s next few years, with the next step being downtown, something the city and other to tear down and rebuild the greens on FILE PHOTO parties involved in redeveloping the the golf course from scratch before next Inside the GE Oil & Gas facility urban core and its surrounding areas year’s tournament. have struggled to do. Executive Director Matt Rapp said There also is a steadily growing ežort the tournament, which is trying to rival to turn the area surrounding EverBank other premiere golf events such as The Field, the Jaguars’ stadium, into a Masters, will hit the growth button again destination. Other professional sports soon. arenas, including the Baseball Grounds of Meanwhile, the Jacksonville Armada Jacksonville, are working toward making FC, a North American Soccer League that happen. team that debuted last year, is trying to The Suns, the minor-league a¢iliate of build up attendance and sponsorships in the Miami Marlins, are contributing to the its sophomore year. push through a $1.8 million investment The team continues to promote tickets in their facility. The improvements were to corporate partners, and is trying to spearheaded and funded by the team’s broaden its reach through ežorts such as new owner, Ken Babby, who purchased televised games. the team in 2015 for about $25 million — Alexa Epitropoulos 8 FLORIDA BUSINESS JOURNALS GROWING FLORIDA

FINANCE FINANCIAL SERVICES COMPANIES ON STRONG GROWTH TRAJECTORY The story in Jacksonville’s
inancial with EY adding an additional 450 services industry has been about employees and FIS adding another expansion, as several large
irms 250 employees. have grown their presence both in The Jacksonville expansions the suburbs and downtown. provide testimony to the city’s re- Many of the expansions have emergence as a
inancial services focused on back-o†ice operations, hub, with several companies which Jacksonville has historically citing the area’s supply of labor, excelled at. speci
ically new graduates However, with two companies, entering the market from the a number of accounting and surrounding universities, as a front-end jobs have come to the reason to locate here. city after The Macquarie Group of Candace Moody, vice Australia and Grant Thronton of president of communications for Chicago opened operations in the CareerSource Northeast Florida, area. said Jacksonville has a deep talent Jacksonville has been a
inancial pool largely because it has been services/banking city for years, but a
inancial services hub for a Rendering of Macquarie’s new Jacksonville offices it seems that the word has spread long time with a large cluster of even more so in recent months, companies in that industry. said David Jaeger, chair of the Tower and plans to hire as many as plans to expand, as it neared Companies entering or department of accounting and 120 employees over the next two capacity at its 200,000-square- expanding in the market should
inance at the University of North years. foot campus and has leased have few issues
illing those Florida. That’s a good thing for Grant Thornton opened its another 150,000 square feet. The positions, she said. “I don’t think business majors at the city’s largest downtown o†ice in the Bank of company will
ill 350 jobs by the we’ve reached the limit yet, as we four-year university. America Tower in May with 20 end of 2017. have a great pipeline. What’s not For example, The Macquarie employees and plans to double In addition, earlier this year, to love? It’s been an amazing few Group opened its Jacksonville that in the next year. Ernst & Young and FIS Global months.” o†ice in January in the Riverplace Deutsche Bank also announced both announced expansion plans, — Derek Gilliam

LOGISTICS St. Johns deepening, airport growth, Project Rex highlight year

BY JENSEN WERLEY other tenants to accommodate it. [email protected] The Jacksonville Aviation 904¢265¢2234, @JBJWerley Authority, however, has been growing airport business quickly, with Allegiant Air and Silver Airlines North Florida logistics continues to adding several
lights in the past be driven by the conversation over year. Allegiant has added nine routes what will happen with e¤orts to to Jacksonville in the past year and deepen the St. Johns River shipping is now considering basing planes in channel. Jacksonville. Work on deepening the river is One of the biggest logistics slated to start this fall, but funding developments to watch in for the project is still in limbo. Jacksonville over the next year will Federal money has not yet been be what happens with distribution dispersed, and local funding is centers. hampered by Jacksonville’s struggle In April, Jacksonville announced to
ix its underwater pension system. Project Rex, a $200 million The uncertainty is causing some ful
illment center widely believed to issues with the port’s largest tenant, be Amazon. The facility, located near COURTESY OF AMAZON Trapac, which was promised deep Jacksonville International Airport, water when it came to Jacksonville a e Amazon fulfillment center in Ruskin. We could see a similar will bring 1,500 jobs by the end of decade ago. The port is considering facility structure in Jacksonville. 2019. shortening the dredging from 13 But experts said Amazon could miles to 11 miles, which would attract more e-commerce ful
illment senior vice president at CBRE in “I think it will pique the interest make the project more a¤ordable centers because of its seal-of- Orlando. of companies that overlooked for federal funding but would not approval status in the logistics He added that with Amazon’s Jacksonville before,” said Nathan give Trapac deep water. The port world. stringent site selection, other Rogers, also with CBRE in authority and Trapac are negotiating “If Amazon or a company like companies likely will follow Jacksonville. “It’s further validation of the lease, which could include that likes your location, it validates Amazon’s lead and start looking at Jacksonville as a distribution market moving the terminal operator and it to the market,” said David Murphy, Jacksonville. to the state of Florida.” JUNE 24, 2016 9 Orlando MSA numbers inside Orlando, Kissimmee and Sanford

ISTOCK PORT CANAVERAL ORLANDO INTERNATIONAL RESIDENTIAL REAL ESTATE COMMERCIAL Total waterborne tonnage AIRPORT REAL ESTATE handled (*projected) SINGLE FAMILY HOMES SALES 37.7 million Total square feet of oice +13.46% space Increase from 2014 12.8% Oice vacancy rate

2015: 43,006 106.3 million Total square feet of Industrial space 76 domestic cities nonstop MEDIAN SALE PRICE 6.9% Industrial vacancy rate +9.02% Increase

3,874,266 3,362,281 4,206,590 4,900,000* SOURCE: CANAVERAL PORT from 2014 AUTHORITY, CUSHMAN & WAKEFIELD ORLANDO, ORLANDO REGIONAL REALTOR ASSOCIATION, GREATER ORLANDO AVIATION FY FY FY FY AUTHORITY, U.S. CENSUS 2013 2014 2015 2016 50 international cities nonstop BUREAU; ORLANDO ECONOMIC 2015: $178,788 DEVELOPMENT COMMISSION 10 FLORIDA BUSINESS JOURNALS GROWING FLORIDA

EDUCATION TECHNOLOGY C. FLA. GAINS SPEED IN COMMERCIAL SPACE INDUSTRY

MATTHEW RICHARDSON [email protected] (407) 641†2410, @MattOBJ

Central Florida’s Space Coast is an area businesses may want to keep an eye on due to a few big deals currently in the works. While the shuttering of NASA’s space shuttle program in 2011 was a big blow to the space technology industry, including the loss of more than 8,000 jobs, Central Florida is seeing PROVIDED BY UCF activity in the industry once again, thanks to the commercial space sector. Conceptual rendering of UCF Downtown Currently, SpaceX is launching — and landing — its Falcon 9 rocket nearly every month from Cape Canaveral. The California-based company UNIVERSITIES, COLLEGES even nabbed an $82.7 million U.S. Air Force contract on April 27 — ending a 10-year hot streak of rival rocket company United Launch Alliance. EXPANDING ACCESS BY But SpaceX, which is currently hiring nearly a dozen engineers in Cape Canaveral, isn’t BUILDING MORE CAMPUSES the only rocket company on the move. Rocket manufacturer Blue Origin, founded by Amazon BY RACHEL WILLIAMS to the region in awhile — I thought it owner Je£ Bezos, is building a 250,000-square- would be professionally and intellectually foot rocket production center near Kennedy [email protected] challenging. I like working on projects that Space Center. That expansion is a $205 million (407) 241†2895; @RachelOBJ matter.” capital investment over ›ive years that will create Additionally, UCF Downtown’s partner, 330 jobs that pay an average annual wage of Building more university and college Valencia College, is expanding its presence $89,000. The company is planning to launch its campuses is the trend in Orlando’s higher in Osceola County. On May 19, it broke self-landing rockets in Cape Canaveral, as well. education industry this year. ground on a new 65,000-square-foot, But rockets aren’t the only thing renewing For starters, the University of Central $27 million building that will serve as the job growth along Florida’s Space Coast. Florida is building a downtown Orlando anchor of a new campus in Poinciana. The Manufacturing is playing a big part, as well. campus. After one failed attempt in 2015, campus is being built by North Carolina- Satellite manufacturing company OneWeb the project later was approved by the state based Clancey & Theys and was designed revealed plans in April that it would build an $85 Board of Governors and appropriated $20 by DLR Group. It’s going at the intersection million, 120,000-square-foot facility in Exploration million in state money from Gov. Rick Scott of Reaves Road and Pleasant Hill Road, and Park, which will create 250 high-wage jobs with an in March 2016. UCF is now on a clear path is expected to have 1,200 students enrolled average annual wage of $65,579 within ›ive years. to opening the ›irst $60 million building in classes by opening day in fall 2017. It will All of the activity that is coming to Exploration of the 15-acre campus by fall 2018. The o£er traditional associate degree courses, Park is catching the attention of manufacturing university will choose a design/build team as well as specialty training programs ›irms in Brevard County. The activity may cause a for the academic building and $10 million such as commercial truck driving and ripple e£ect to draw in other competitive ›irms — parking garage by the end of the summer. construction. something Space Florida is hoping for. UCF Downtown is expected to have “We hope this will transform the 7,700 students from UCF and Valencia Poinciana community and serve as a driver College enrolled by opening day. It will of economic development,” said college house programs such as technology, President Sandy Shugart. health care administration, legal studies, Valencia also is in the early stages of communications and digital media, to planning new training facilities that would name a few, of which the campus’ newly house short-term training programs such as chosen vice provost, Thad Seymour, construction, manufacturing, commercial will seek partnerships for. Seymour, truck driving and programming, among who formerly was vice president of others. Tavistock Development Co., said potential “These skills are rapidly growing in partnerships include ones with local, demand,” Shugart said. “Within weeks, national and international ›irms that want students can have new certi›ications from to provide internship opportunities to UCF this training.” Downtown students, o£er mentors or help Shugart anticipates building three the university build an innovation lab where to four new 15,000-square-foot training new ideas and products can be tested. facilities in the area. The college currently “There will be an enormous amount of is considering land in Kissimmee, east opportunities,” Seymour said. “I have spent Orlando, Poinciana and downtown the last 10 years really trying to contribute Orlando for these facilities, which Shugart to good things that were happening in anticipates costing more than $3 million this region. When asked if I’d continue to each to build. focus on UCF Downtown — which I think is A detailed plan is expected to go before SPACEX one of the most exciting things to happen the college’s board of trustees this fall. SpaceX rocket JUNE 24, 2016 11

THREE QUESTIONS WITH... Dave Porter, senior vice president, Orlando Economic Development Commission Dave Porter

What are Central Florida’s strongest selling points right now? A great talent pool. Companies are seeking locations with a diverse, educated talent pool. When talking with companies looking at our region, we always highlight the fact that within a 100-mile radius of Orlando there are 500,000 college students. In addition, nearly 50,000 people a year move into our four-county market.

What types of companies specifically are being targeted and why? We are strong in modeling and simulation, digital media, advanced manufacturing and regional headquarters. Why? Because we have the talent pool. Only one-third of our workforce is in leisure and hospitality, which means the 40 Million Annual Passengers remaining two-thirds work in other sectors. Nearly 92,000 200 Acre Foreign Trade Zone workers are employed in the growing life sciences and health care industry. Mobile Passport Control App (U.S. and Canadian Travelers) How competitive is Orlando compared to other major Automated Passport Control Kiosks state metros? One of our greatest assets is the Close Proximity to Downtown, Convention Center, availability of land. Most of Medical City, Tourist Areas, Universities and Port Canaveral the other state metros are bounded by water. We have lots of opportunities to build Future Direct-Rail Service from MCO to West Palm Beach, new business and industrial Ft. Lauderdale and Miami City Centers parks. In other major Florida markets, they can only go vertical. Our airport is a great asset, and I already mentioned our central location 40+ Airlines Among the Top 10 More Domestic Non-stop Service to 500,000 students. The with over 800 U.S. Airports Service than any to 73 Domestic University of Central Florida Daily Aircraft for Low Fares other Airport & 48 International has 62,000 students and is Operations in Florida Cities doing tremendous research in sensor technology which helped result in ICMAR, currently under construction, MCO. Your Florida Airport of Choice. one of the world’s first advanced manufacturing centers for smart-sensor OrlandoAirports.net /fl ymco @MCO #FlyMCO technology.

— Cindy Barth 12 FLORIDA BUSINESS JOURNALS GROWING FLORIDA DISCOVER THE UNEXPECTED IN THE ‘NEW’ DAYTONA BEACH NEW ATTRACTIONS, ACCOMMODATIONS AND MORE ON THE ‘ORIGINAL AMERICAN BEACH’

Meeting attendees are discovering a new Daytona Beach – an exciting chapter in the destination’s history showcasing its racing heritage, idyllic East Coast oceanfront location and impressive arts ailiation. The area is in the midst of investing nearly $2 billion in renovations and construction, all of which make for an even more exciting place to meet. DAYTONA Rising, a $400 million renovation project at Daytona SEAWORLD PHOTO ª JIM CARCHIDI International Speedway, was completed in early 2016. In the planning stage are a new Hard Rock Hotel & Café and an upscale Westin. TOURISM These additions – and an eclectic culinary scene, o’-the-beaten-path attractions for thrill seekers and year-round cultural events – o’er Record year for tourists as unexpected delights and have led to Daytona Beach being selected as one of the Best Florida Attractions in the Top 10 Best Readers’ Choice theme park activity ramps up travel award contest sponsored by USA TODAY. BY RICHARD BILBAO in Summer” celebration hosted by Highlights of the exciting scene in Daytona Beach: Queen Elsa. In addition, Disney [email protected] « JetBlue Airways launched a nonstop route from New York to Daytona will welcome other attractions Beach in January 2016. (407) 241€2888; @RichOBJ this summer, including two new « News on the hotel front: Residence Inn by Marriott Daytona Beach nighttime shows at Animal Kingdom Oceanfront opened in March 2015; Hilton Garden Inn boutique property For yet another year, Orlando and a new Star Wars žireworks show remains the mecca of the tourism opened in September 2015; Chateau Mar Beach Resort boutique at Hollywood Studios. world. property opened in October 2015; a œive-star Westin is currently in the Also, Disney is still underway on The land of Mickey Mouse, Harry the demolition and construction of process of a total re-style and transformation of one of the area’s iconic Potter and Shamu welcomed more the new Star Wars and Toy Story properties; and the historic Streamline Hotel, an art deco-style property than 66 million people in 2015 — lands at Hollywood Studios, and the that once hosted the meeting that launched NASCAR -- as well as a marking another record year for new Avatar: The World of Pandora recent episode of Hotel Impossible -- will be opening as an upscale Central Florida. expansion at Animal Kingdom. beachside boutique property in 2016. The legendary Hard Rock vibe is Orlando’s convention market R Universal Orlando Resort is set coming to the iconic Daytona Beach shoreline, with construction of a helped with that growth, steadily to open the new Skull Island: Reign new property expected to be complete in 2018. welcoming hundreds of thousands of Kong attraction this summer of traveling trade show attendees « Race fans are rejoicing over the DAYTONA Rising Project – a $400 and continues to work on new and generating up to $2 billion in million overhaul that opened to fans in January 2016 - that has additions for the future. Universal economic impact. Studios Florida is set to add two transformed Daytona International Speedway into the world’s œirst true This year marks a busy year for new attractions in the coming year motorsports stadium. the theme parks in Orlando, with — Race Through New York Starring « DaytonaBeachAleTrail.com showcases growing microbrewery scene. major attractions opening at Walt Jimmy Fallon and Fast & Furious: « New Motorsports Hall of Fame of America to open Summer 2016. The Disney World, Universal Orlando Supercharged. In addition, the Resort and SeaWorld. Each park has 10,000 sf hall of fame, adorned with bronze plaques that feature the theme park is still turning dirt on its a series of rides, experiences and sculpted images of over 200 members of the hall of fame, has a long žirst on-site water park, Volcano Bay. shows opening up that will bring list of exclusive sights even non-race fans can appreciate, including a But what has Orlando intrigued is more buzz to the region. Dale Earnhardt stock car, “Big Daddy” Don Garlits’ Swamp Rat Dragster, what Universal’s plans are for more In addition, the International Sir Malcolm Campbell’s Bluebird Land Speed Record Car and more! than 450 acres of land it acquired Drive corridor continues to see « Love to Shop? Tanger Outlets will open in time for the 2016 holiday new investment injected there last year along Universal Boulevard shopping season. The long-popular Volusia Mall just completed a $5 in the form of restaurants and that have the capacity to house million upgrade and the area’s thriving downtown areas, including attractions. Projects underway or multiple theme parks and hotels. Daytona Beach, Ormond Beach, DeLand and New Smyrna Beach in early planning on the corridor Plus, CityWalk is adding new continue to add eclectic, new boutiques and eateries. Anticipated for include a new Staržlyer attraction, restaurants and destinations with Toothsome Chocolate Emporium & 2017, ONE DAYTONA has broken ground and is a premier mixed-use retail, the Hollywood Plaza parking garage and entertainment center, the future Savory Feast Kitchen being the latest dining and entertainment destination across from Daytona International to join the line-up. Speedway and minutes from the “World’s Most Famous Beach”. Skyplex project, a new pedestrian bridge at Sand Lake Road and R SeaWorld Entertainment Inc. « DaytonaBeach.golf helps golf lovers play where the pros do – LPGA I€Drive, a new indoor skydiving debuted its latest coaster, Mako, International, home course of the LPGA and Symetra Tours – or choose attraction at I€Drive 360, the new June 10 — Orlando’s tallest, fastest from more than 20 other œine courses, all participating in Daytona Topgolf and Andretti Indoor Kart and longest coaster. The ride will also Beach Golf Vacations and Packages. Racing attractions on Universal be part of a new shark habitat and Boulevard, and more. Many of those educational area for the theme park. www.DaytonaBeach.com are set to debut in 2017 or later. But SeaWorld’s greatest change Here’s a look at what’s in play at will be transitioning away from the the theme parks: use of killer whales in its shows. The R Walt Disney World is continuing company announced in March it will to invest heavily into its popular phase out the killer whale shows at brands on a theme park level, its theme parks and convert those most notably the addition of the areas into a non-show habitat. The “Frozen Ever After” ride and Royal changes are long-term, but the Sommerhus areas to Epcot’s Norway theme park is working on žinding pavilion that opened June 21. The ways to diversify its portfolio, such Frozen ride will take guests back into as seeking ways to acquire or build the world of Arendelle for the “Winter new hotels near the theme parks. JUNE 24, 2016 13

BIG DEALS AIRPORT, ICAMR AND UCF DOWNTOWN HIGHLIGHT YEAR IN BIG DEALS While a number of big deals have tech campus that will house location for an as-yet-unnamed day in fall 2018. It’s also expected taken place in the past year, one the 109,000-square-foot Florida international research institute to create a $205 million annual of the biggest this year is Orlando Advanced Manufacturing referred to as Project Nano. economic impact, 2,000 new International Airport’s $1.8 billion Research Center that will study Finally, everyone in Central direct and indirect jobs, and expansion that includes a 300- and create smart sensors. Florida held their breath awaiting serve as a catalyst for the $1 acre south terminal and air ield The International Consortium word from Florida Gov. Rick Scott billion Creative Village mixed- with 16‡24 gates for narrow-body, for Advanced Manufacturing on whether the state would kick used development of Ustler jumbo and super jumbo aircraft Research — the organization that in $20 million toward the UCF Development Inc. and a six-story 5,000-space will manage the Florida Advanced Downtown campus. The building Meanwhile, over on the parking garage. The facility Manufacturing Research Center will cost $60 million, and $20 Space Coast, the commercial will serve both domestic and and help secure corporate million in UCF funds and $20 space industry is coming to international lights. partners — will be developed to million in private donations will life with the addition of Blue The project also includes a new house major tech and defense fund the remainder. Origin’s 250,000-square-foot automated people mover system, companies, and be a place for The campus will be built on rocket manufacturing facility as well as a new intermodal businesses to collaborate. The 15 acres at the intersection of station for rail and the new south project is expected to create Parramore Avenue and Livingston in Cape Canaveral and satellite terminal. The south terminal nearly 20,000 high-wage jobs Street, and will include the $60 manufacturing company project not only addresses the within 10 years. million academic building, UCF’s OneWeb’s plans to build a major region’s transportation needs, On May 23, Osceola County Center for Emerging Media, a facility on NASA property next to but also o‹ers opportunities for commissioners unanimously Valencia College Culinary and the Kennedy Space Center. contractors and subcontractors on approved $15 million in research Hospitality academic space, The company’s the work. funding to create a design center student housing and 1,800 parking 100,000-square-foot facility will The terminal is expected to be that will help lure an international spaces. create 250 high-wage jobs with an operational by 2019. research center. The campus is expected to average wage of $65,579 within Work also is underway on The design center is a big have 7,700 UCF and Valencia ive years. Osceola County’s 500-acre deal for ICAMR as it will be a students enrolled by opening — Cindy Barth LET’S TALK BUSINESS. As one of Central Florida’s fastest growing community banks, we understand that we succeed when you succeed. We’ve worked with homebuilders, developers, service providers, and all types of entrepreneurs. Let’s talk business – today. • Treasury Management • Working Capital Lines of Credit • Commercial Term Loan • CRE Investment

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HEALTH CARE FREESTANDING ERS CHANGING CENTRAL FLORIDA’S HEALTH CARE LANDSCAPE A particular type of emergency not true in every case.” care facility is sweeping the Central Even if a freestanding ER is Florida market. not eventually expanded, the Freestanding emergency hospital owner still can beneŒit centers, which are facilities from referring its freestanding ER owned and operated by licensed patients to the main hospital and to hospitals that are not connected its specialists such as cardiologists, to a main hospital campus but pediatricians and others. o­er the same comprehensive Overall, a rise in emergency- 24/7 emergency services, are department visits has spurred the being built throughout the metro need for more emergency facilities. Orlando market. Currently, four For example, Florida Hospital’s are established — two owned by Central Florida campuses saw a Florida Hospital, in Winter Garden RACHEL WILLIAMS 58 percent increase in emergency and Lake Mary, and two owned Florida Hospital Winter Garden is an emergency-center, room visits, from 257,128 in 2007 to by HCA Holdings Inc., in Oviedo 407,632 in 2014, the most recent and Hunter’s Creek — but at least outpatient facility state data available. Statewide, Œive more are on the way. South emergency departments saw Lake Hospital, Orlando Health, Local industry experts have acute care hospital. 7.8 million visitors in 2014, up 13 HCA’s Central Florida Regional said freestanding ERs are built “This [strategy] creates some percent from 6.9 million in 2011, Hospital, Halifax Health and Florida primarily for two reasons: to bring beneŒits for us,” Daryl Tol, Florida according to the Florida Agency for Hospital each have plans in the critical care closer to residents Hospital Orlando CEO, said in a Health Care Administration. Part of works for ERs in Horizon West, near in developing communities, and previous interview. “We’re able to what’s driving the uptick in visits is Waterford Lakes, Four Corners and to establish a presence in these put emergency services closer the growth of the local population. two in Deltona. Two are slated to markets to prepare for a full-scale to people and new developing More than 50,000 seniors now open later this year, and three are hospital buildout, similar to what’s communities and reduce pressure live in Orange County, which is expected to open in 2017. happening in Oviedo. In November at the main [downtown hospital] expected to continue seeing a Statewide, there are 26 2013, the $10 million Oviedo ER campus. It also establishes a base growth in its overall population. By freestanding ERs, with the opened with just 12 emergency- to help us grow further. There 2025, the county’s population is Œirst opening in 2002 in Ocala. care beds, but now it’s being are areas we are looking at very expected to grow by 17 percent to Nationwide, it’s estimated there are expanded into Oviedo Medical carefully where we can have full- nearly 1.5 million people. up to 500. Center, a $109 million, 64-bed scale hospital development, but it’s — Rachel Williams

COMMERCIAL REAL ESTATE Metro Orlando’s building barrage continues, with massive projects bringing more jobs jobs in the Orlando metropolitan ANJALI FLUKER Maitland Station, statistical area, a 15 percent jump aŒ[email protected] from 58,500 reported a year earlier, a new luxury (407) 241©2910; @AnjaliFlukerOBJ according to the Associated Builders apartment complex & Contractors Inc. being constructed Population increases, job growth The biggest boom has been in just steps from and consumer spending — not the transportation realm, as one of SunRail to mention pent-up demand — the area’s largest projects includes deŒinitely boosted the need for more a $2.3 billion, six-year revamp of industrial, retail, o«ice, hotels and Interstate 4 in Central Florida, a homes in Central Florida in the last $1.8 billion expansion of Orlando year. International Airport and two impact on the market. Metro On the homebuilders side, Metro Orlando’s economy is passenger rail projects: the $186.9 Orlando joined 58 percent of U.S. residential construction accounted heavily driven by real estate and million expansion of the SunRail housing markets where buying for $4.7 billion in value, a 36 percent new construction, since it creates commuter rail and bringing the $3.1 a home is more a­ordable than jump from 2014’s 3.5 billion. jobs and brings new homes into billion, privately funded Brightline renting, even though home sale There’s plenty more to come, as the market to support a growing train from South Florida into the prices are rising faster than rental the area’s major theme parks and population. Orlando airport. rates in 55 percent of those markets, tourist destinations draw record As the overall economy has But private companies also are according to a RealtyTrac report. visitation. And other major growth improved in recent years, Œinding putting hundreds of millions of Commercial construction industries such as life sciences give real estate for growing companies dollars into building new projects project values — including o«ice, rise to mini-cities like southeast or the increasing population has as well as buying up old and new retail, hotels, warehouses, schools, Orlando’s 8,000-acre Lake Nona, been harder, helping drive new investment properties. medical facilities and religious which anticipates starting work in construction. The construction Apartment construction and institutions — doubled from $1.1 the coming years on an estimated industry in April reported 67,300 investment has had the biggest billion in 2014 to $2.2 billion in 2015. $750 million town center. JUNE 24, 2016 15

Compiled by Christine Erickson 813 342 2474, @tbbjresearch [email protected]

Agency Address Executive director Website Telephone

Enterprise Florida 800 N. Magnolia Ave. #1100, Orlando, FL 32803 Crystal Sircy, EVP/COO e lorida.com 407­956­5600 csircy@e lorida.com

EAST CENTRAL

Orlando Economic Development Commission** 301 E. Pine St. #900, Orlando, FL 32801 Holly Wiedman, EVP orlandoedc.com 407­422­715 [email protected]

Central Florida Partnership 75 S. Ivanhoe Blvd., Orlando, FL 32804 Jacob V. Stuart, President central loridapartnership.org 407­835­8005 [email protected]

Economic Development Commission of Florida’s Space Coast* 597 Haverty Ct. #40, Rockledge, FL 32955 Lynda Weatherman, President/CEO spacecoastedc.org 321 638­2000 [email protected]

Lake County Economic Development Department* 315 W. Main St. #520, Tavares, FL 32778 Robert Chandler, Director businessinlake l.com 352­742­3918 rchandler@lakecounty l.gov

Osceola County Economic Development Department* 3 Courthouse Sq. 2nd Fl., Kissimmee, FL 34741 Bill Martin, Executive director, GOPEP chooseosceola.com 407­742­4200 [email protected]

Seminole County Government* 1055 AAA Dr. #148, Heathrow, FL 32746 Pamela Lynch, Business development manager seminolecounty l.gov 407­665­7134 plynch@seminolecounty l.gov

Sumter County Economic Development Council* 7375 Powell Rd., Wildwood, FL 34785 Jada Ciftci, Economic development professional sumterbusiness.com 352­689­4400 jada.ciftci@sumtercounty l.gov

Team Volusia Economic Development Corp. 1 Daytona Blvd. #240, Daytona Beach, FL 32214 Keith Norden, President/CEO teamvolusiaedc.com 386­265­6332 [email protected]

Volusia County Division of Economic Development* 700 Catalina Dr. #200, Daytona Beach, FL 32114 Rob Ehrhardt, Economic development director loridabusiness.org 386­248­8048 [email protected]

NORTH CENTRAL

North Central Florida Regional Planning Council 2009 N.W. 67th Pl., Gainesville, FL 32653 Scott R. Koons, Executive director ncfrpc.org 352­955­2200 [email protected]

North Florida Economic Development Partnership** 3200 Commonwealth Blvd. #7, Tallahassee, FL 32303 Jeff Hendry, Executive director n lp.com 850­487­1870 [email protected]

Gainesville Council for Economic Outreach* 300 E. University Ave. #100, Gainesville, FL 32601 Susan Davenport, President/CEO gceo.com 352­334­7100 [email protected]

North Florida Regional Chamber of Commerce* 100 E. Call St., Starke, FL 32091 Pam Whittle, Director north loridachamber.com 904­964­5278 pam@north loridachamber.com

Columbia County Economic Development Department* 259 N.E. Franklin St. #101, Lake City, FL 32055 Glenn Hunter, Executive director cc ledd.com 386­758­1033 ghunter@columbiacounty la.com

Dixie County Chamber of Commerce* P.O. Box 547, Cross City, FL 32628 Tim Alexander, County manager dixiechamber.org 352­498­5454 [email protected]

Gilchrist County* 209 S.E. 1st St., Trenton, FL 32693 Bobby Crosby Jr., County administrator gilchrist. l.us 352­463­3198 bcrosby@gilchrist. l.us

Hamilton County Of„ice of Tourism and Economic Development* 1153 U.S. 41 N.W. #4, Jasper, FL 32052 Susan Ramsey, Executive director hamiltoncda.org 386­792­6828 [email protected]

Lafayette County Development Authority* 120 W. Main St., Mayo, FL 32066 Ricky Lyons, Clerk of court lafayettecountychamber.com 386­294­1600 [email protected]

Nature Coast Business Development Council Inc.* 109 N.W. 3rd Ave., Chie land, FL 32626 David J. Pieklik, Executive director naturecoast.org 352­493­6797 [email protected]

Madison County Development Council * 229 S.W. Pinckney St. #219, Madison, FL 32340 Allen Cherry, Executive director madison ldevelopment.com 850­973­3179 acherry@madison ldevelopment.com

Ocala/Marion County Chamber & Economic Partnership* 310 S.E. 3rd St., Ocala, FL 34471 Kevin T. Sheilley, President/CEO ocalacep.com 352­629­8051 [email protected]

Suwannee County Economic Development Of„ice* 13302 80th Terr., Live Oak, FL 32060 Alvin B. Jackson, Jr., Economic development director loridasnewfrontier.com 386­364­1700 [email protected]

Union County* 55 S.W. 6th St., Lake Butler, FL 32054 John Rimes unioncounty- l.gov 386­496­2045 [email protected]

Taylor County Development Authority* 103 E. Ellis St., Perry, FL 32348 Scott C. Frederick, Executive director loridasrisingstar.com 850­584­5627 [email protected]

NORTHEAST

JAXUSA Partnership** 3 Independent Dr., Jacksonville, FL 32202 Jerry Mallot, President jaxusa.org 904­366­6652 [email protected]

Baker County Development Commission* 20 E. Macclenny Ave., Macclenny, FL 32603 Darryl Register, Executivee director bakerchamber l.com 904­259­6433 dregister@bakerchamber l.com

Clay County Economic Development Corp.* 1845 Town Center Blvd., #110­B, Fleming Island, FL 32003 Bill Garrison, Executive director chooseclay.com 904­375­9394 [email protected]

*Enterprise Florida primary economic development partners **Enterprise Florida regional partners 16 FLORIDA BUSINESS JOURNALS GROWING FLORIDA

Compiled by Christine Erickson 813 342 2474, @tbbjresearch [email protected]

Agency Address Executive director Website Telephone

Jacksonville Of ice of Economic Development 117 W. Duval St. # 275, Jacksonville, FL 32202 Kirk Wendland, Executive director coj.net 904€630€1858 [email protected]

Flagler County Department of Economic Opportunity* 1769 E. Moody Blvd. Bldg. 2, Bunnell, FL 32110 Helga van Eckert, Executive director ‡laglercountyedc.com 904€313€4071 hvaneckert@‡laglercountyedc.com

Nassau County Economic Development Board* 76346 William Burgess Blvd., Yulee, FL 32097 Laura DiBella, Executive director expandinnassau.com 904€225€8878 [email protected]

Putnam County Chamber of Commerce* 1100 Reid St., Palatka, FL 32177 Brian Bergen, VP, economic development putnamcountychamber.com 904€328€1503 [email protected]

St. Johns County Chamber of Commerce 1 Riberia St., St. Augustine, FL 32084 Declan Reiley, VP, economic development stjohnscountychamber.com 904€829€5681 [email protected]

St. Johns County Of ice of Economic Development* 500 San Sebastian View, St. Augustine, FL 32084 Melissa S. Glasgow, Director, economic development sjc‡l.us/economicdevelopment 904€209€0552 mglasgow@sjc‡l.us

NORTHWEST

Florida’s Great Northwest** 100 College Blvd. Bldg. K, Niceville, FL 32578 Therese Baker, EVP ‡loridasgreatnorthwest.com 850€729€6848 [email protected]

Opportunity Florida** 4636 Hwy. 90 Ste. K, Marianna, FL 32446 Jim Brook, Executive Director opportunity‡lorida.com 850€718€0453 [email protected]

Bay Economic Development Alliance* 1003 Jenks Ave., Panama City, FL 32401 Becca Hardin, President bayeda.com 850€215€9965 [email protected]

Panama City Downtown Improvement Board 413 Harrison Ave., Panama City, FL 32401 John Carbullido, Executive director pcdib.com 850€785€2554 [email protected]

Calhoun County Chamber of Commerce* 20816 Central Ave. E. #2, Bloundstown, FL 32424 Kristy Terry, Executive director calhounco.org 850€674€4519 [email protected]

FloridaWest Economic Development Alliance* 117 W. Garden St., Pensacola, FL 32502 Scott Luth, CEO ‡loridawesteda.com 850€898€2201 sluth@‡loridawesteda.com

Franklin County Commission* 33 Market St., Apalachicola, FL 32320 Alan Pierce, County administrator franklincounty‡lorida.com 850€653€8861 [email protected]

Gadsden County Development Council* 2140 W. Jefferson St., Quincy, FL 32351 Beth Kirkland, Economic development gadsden‡ldev.com 850€212€1056 bethkirkland@gadsden‡ldev.com

Gulf County Economic Development Coalition* 1000 Cecil G. Costin Sr. Blvd., Port St. Joe, FL 32456 Chris Holley gulfcountyedc.com 850€340€1451 [email protected]

Holmes County Development Commission* 106 E. Byrd Ave., Bonifay, FL 32425 Raymon Thomas, Executive director holmescountyonline.com 850€547€4682 [email protected]

Jackson County Development Council* 4318 Lafayette St., Marianna, FL 32446 William Stanton, Director business.jacksoncounty.com 850€526€4005 [email protected]

Jefferson County Economic Development Council* 492 W. Walnut St., Monticello, FL 32344 Julie Conley, Director jeffersoncountyedc.com 850€997€7999 [email protected]

Greater Tallahassee Chamber of Commerce* 300 E. Park Ave., Tallahassee, FL 32302 Sue Dick, President/CEO talchamber.com 850€224€8116 [email protected]

Liberty County Chamber of Commerce* P.O. Box 523, Bristol, FL 32321 Johnny B. Eubanks, Executive director libertycounty‡lorida.com 850€643€2359 [email protected]

Economic Development Council of Okaloosa County* 1170 MLK Jr. Blvd. #717, Fort Walton Beach, FL 32547 Nathan Sparks, Executive director ‡lorida-edc.org (800) 995€7374 nathan@‡lorida-edc.org

Santa Rosa Economic Development* 6491 Caroline St. #4, Milton, FL 32570 Shannon Ogletree, Director santarosaedo.com 850€623€0174 shannon@santarosa.‡l.gov

Wakulla County EDC* 3093 Crawfordville Hwy., Crawfordville, FL 32327 Sheree Keeler, Director mywakulla.com 850€926€0919 [email protected]

Walton County Economic Development Alliance* 72 N. 6th St., DeFuniak Springs, FL 32433 Steve Jaeger, Executive director wceda‡l.com 850€892€4859 steve@wceda‡l.com

Washington County Chamber of Commerce* 672 5th St., Chipley, FL 32428 Ted Everett, Executive director washcomall.com 850€638€4157 [email protected]

SOUTH CENTRAL

Florida’s Heartland Regional Economic Development Initiative** 212 Pomegranate Ave., Sebring, FL 33870 Gina Reynolds, CEO ‡laheartland.com 863€385€4900 greynolds@‡laheartland.com

DeSoto County Economic Development Of ice* 201 E. Oak St. #201, Arcadia, FL 34266 Michael Taber, Economic and tourism development specialist teamdesoto.com 863€993€4800 [email protected]

*Enterprise Florida primary economic development partner **Enterprise Florida regional partner JUNE 24, 2016 17

Compiled by Christine Erickson 813 342 2474, @tbbjresearch [email protected]

Agency Address Executive director Website Telephone

Glades County Economic Development Council* 998 S. U.S. 27, Moore Haven, FL 33471 Tracy Whirls, Executive director gladescountyedc.com 863€946€0300 [email protected]

Hendry County Economic Development Council* 644 S. Main St., LaBelle, FL 33935 Gregg Gillman, President henryedc.com 863€675€6007 [email protected]

Highlands County Economic Development Commission* 1 E. Main St., Avon Park, FL 33825 Michelle Boylan, Economic development coordinator highlandsedc.com 863€453€2818 [email protected]

Hardee County Economic Development Council* 107 E. Main St., Wachula, FL 33873 Bill Lambert, Economic development director hardeebusiness.com 863€773€3030 [email protected]

Business Development Board of Okeechobee County* 412 N.W. 3rd St., Okeechobee, FL 34972 Robbie Chartier, County administrator co.okeechobee.Œl.us 863€763€6441 [email protected].Œl.us

SOUTHEAST

Greater Fort Lauderdale Alliance* 110 E. Broward Blvd. #1990, Fort Lauderdale, FL 33301 Bob Swindell, President/CEO gŒlalliance.org 954€524€3113 bswindell@gŒlalliance.org

Greater Marathon Chamber of Commerce* 12222 Overseas Hwy., Marathon, FL 33050 Daniel Samess, CEO Œloridakeysmarathon.com 305€743€5417 ceo@Œloridakeysmarathon.com

Indian River Chamber of Commerce* 1216 21st St., Vero Beach, FL 32960 Helene Caseltine, Director, economic development indianriverchamber.com 772€567€3491 [email protected]

Business Development Board of Martin County* 1002 S.E. Monterey Commons Blvd. #203, Stuart, FL 34996 Tim Dougher, Executive director bdbmc.org 772€221€1380 [email protected]

The Beacon Council* 80 S.W. 8th St. #2400, Miami, FL 33130 Larry K. Williams, President/CEO beaconcouncil.com 305€375€0271 [email protected]

Business Development Board of Palm Beach County* 310 Evernia St., West Palm Beach, FL 33401 Kelly Smallridge, President/CEO bdb.org 561€835€1008 [email protected]

Economic Development Council of St. Lucie County* 500 N.W. California Blvd. Bldg. S, 3103, Port St. Lucie, FL 34986 Peter Tesch, President youredc.com 772€336€6250 [email protected]

SOUTHWEST

Charlotte County Economic Development Of„ice* 18501 Murdock Cir. #302, Port Charlotte, FL 33948 Lucienne Pears, Director Œloridasinnovationcoast.com 941€764€4941 lucienne.pears@charlottecountyŒl.gov

The Partnership for Collier’s Future Economy Inc.* 2390 Tamiami Trl. N. #201, Naples, FL 34103 Kristi J. Bartlett, VP, economic development napleschamber.org 239€262€6376 [email protected]

Lee County Of„ice of Economic Development* 2201 2nd St., #500, Ft. Myers, FL 33901 John Patrick Boland, Director leecountybusiness.com 800€330€3161 [email protected]

TAMPA BAY

Tampa Bay Partnership** 4300 W. Cypress St. #700, Tampa, FL 33607 Rick Homans, President/CEO tampabay.org 813€878€2208 [email protected]

Economic Development Authority for Citrus County* 915 N. Suncoast Blvd. Crystal River, FL 34429 Don Taylor, Executive director citrusedc.com 352€795€2000 [email protected]

Hernando County Of„ice of Business Development* 15800 Flight Path Dr., Brooksville, FL 34604 Valerie Pianta, Manager, economic development hernandobusiness.com 352€540€6400 [email protected]

Tampa Hillsborough Economic Development Corp.* 101 E. Kennedy Blvd. #1750, Tampa, FL 33602 Craig Richard, President/CEO tampaedc.com 813€218€3300 [email protected]

Tampa Downtown Partnership 400 N. Ashley Dr. #2125, Tampa, FL 33602 Christine Burdick, President tampasdowntown.com 813€221€3686 [email protected]

Westshore Alliance 3109 W. Dr. MLK Jr. Blvd. #140, Tampa, FL 33607 Ann Kulig, Executive director westshorealliance.org 813€289€5488 [email protected]

Bradenton Area Economic Development Corp.* 4215 Concept Ct., Bradenton, FL 34211 Sharon Hillstrom, President/CEO thinkbradentonarea.com 941€803€9030 [email protected]

Pasco Economic Development Council* 16506 Pointe Village Dr. #101, Lutz, FL 33558 Bill Cronin, President/CEO pascoedc.com 813€926€0827 [email protected]

Pinellas County Economic Development* 13805 58th St. N. #1€200, Clearwater, FL 33760 Mike Meidel, Director pced.org 727€464€7332 [email protected]

Central Florida Development Council of Polk County* 2701 Lake Myrtle Park Rd., Auburndale, FL 33823 David Petr, President/CEO cŒdc.org 863€551€4760 david@cŒdc.org

Lakeland Economic Development Council 226 N. Kentucky Ave. 2nd Fl., Lakeland, FL 3801 Steve Scruggs, President lakelandedc.com 863€687€3788 [email protected]

Economic Development Corp. of Sarasota County 1680 Fruitville Rd. #402, Sarasota, FL 34236 Mark Huey, President/CEO edcsarasotacounty.com 941€309€1200 [email protected]

*Enterprise Florida primary economic development partners **Enterprise Florida regional partners 18 FLORIDA BUSINESS JOURNALS GROWING FLORIDA

Compiled by Christine Erickson 813 342 2474, @tbbjresearch [email protected] FLORIDA SEAPORTS RANKED BY 2015 TOTAL WATERBORNE CARGO VALUE

Seaport1 Address Total waterborne Total waterborne cargo Containerized cargo 2015 total 2015 Cruise Website Telephone cargo value 2015 value 2014 value for 2015 tonnage passengers Top local executive(s)

1850 Eller Dr. $25.19 $27.13 $17.29 24 3.77 Port Everglades Fort Lauderdale 33316 Steve Cernak 11 billion billion billion million million porteverglades.net 954-523-3404

1015 N. America Way $25.05 $23.71 $20.96 8.61 4.92 Juan Kuryla PortMiami Miami 33132 22 billion billion billion million million [email protected] miamidade.gov/portmiami 305-347-4844

2831 Talleyrand Ave. $23.93 $23.35 $8.03 17.7 Port of Jacksonville (Jaxport) Jacksonville 32206 366,021 Brian Taylor 33 billion billion billion million jaxport.com 904-357-3036

1101 Channelside Dr. $4.57 $4.51 $666.38 37.37 Paul Anderson Port Tampa Bay Tampa 33602 867,114 44 billion billion million million [email protected] tampaport.com 813-905-7678

5321 W. Hwy. 98 $3.01 $3.15 $894.25 2.03 Wayne Stubbs Port Panama City Panama City 32401 Not applicable 55 billion billion million million [email protected] portpanamacityusa.com 850-767-3220

1 E. 11th St. #600 $2.17 $2.31 $1.66 2.09 Manuel Almira Port of Palm Beach Riviera Beach 33404 350,932 66 billion billion billion million [email protected] portofpalmbeach.com 561-383-4121

445 Challenger Rd. #301 $1.09 $1.29 $4.29 4.15 4.17 Port Canaveral Cape Canaveral 32920 John Murray 77 billion billion million million million portcanaveral.com 321-212-9296

300 Tampa Bay Way $645.51 $695.46 $226.91 6.52 Port Manatee Palmetto 34221 Not applicable Carlos Buqueras 88 million million million million portmanatee.com 941-722-6621

700 S. Barracks St. $387.9 $505.84 $9.11 Amy Miller Port of Pensacola Pensacola 32501 217,695 Not applicable 99 million million million [email protected] portofpensacola.com 850-436-5070

86130 License Rd. #9 $141.56 $118.88 $69.77 Val Schwec Port of Fernandina Fernandina Beach 32034 303,981 Not applicable 1010 million million million [email protected] portoffernandina.org 904-491-7422

201 Williams St. Not Doug Bradshaw Port of Key West Key West 33040 Not applicable Not applicable Not applicable 804,624 11 11 applicable [email protected] cityofkeywest-fl.gov 305-809-3790

1 Data Source: Florida Seaport Transportation & Economic Development Council

FLORIDA SEAPORTS RANKED BY PROJECTED WATERBORNE TONNAGE FOR FISCAL YEAR 2018/2019 Seaport1 Address Waterborne tonnage: Fiscal Waterborne tonnage: Fiscal year Waterborne tonnage: Waterborne tonnage: Fiscal Website Telephone year 2018/2019 2011/2012 Fiscal year 2012/2013 year 2013/2014

1101 Channelside Dr. 41.58 33.91 34.94 36.22 Port of Tampa Tampa 33602 11 million million million million tampaport.com 813-905-7678 110 N. Apopka Ave. Port Everglades 2nd Fl., Administration 24.21 21.87 22.45 23.99 22 porteverglades.net Fort Lauderdale 33316 million million million million 954-468-0137 2831 Talleyrand Ave. 22.27 21.88 18.56 16.93 Port of Jacksonville Jacksonville 32206 33 million million million million jaxport.com 904-357-3036

1015 N. America Way 9.05 8.11 7.98 7.7 PortMiami Miami 33132 44 million million million million miamidade.gov/portmiami 305-347-4844

300 Tampa Bay Way 7.2 6.84 7.2 6.4 Port Manatee Palmetto 34221 55 million million million million portmanatee.com 941-722-6621

1 Data Source: Florida Seaport Transportation & Economic Development Council

ABOUT THE LIST NEED A COPY OF THE LIST? Information on The List was gathered from the Florda Seaport Transportation & Information for obtaining reprints, web permissions and commemorative plaques, call Economic Development Council, Florida’s Seaports: Gaining Momentum report 877‡397‡5134. More information can be found online at OrlandoBusinessJournal.com by clicking the “Buy” tab near the top of the site. JUNE 24, 2016 19

Compiled by Christine Erickson 813 342 2474, @tbbjresearch [email protected] TOP FLORIDA AIRPORTS RANKED BY 2015 TOTAL NUMBER OF PASSENGERS

Total Airport Address passengers Total passengers Percent change Total operations Website Telephone 2015 2014 (passengers) 2015

P.O. Box 025504 44.35 40.94 Miami International Airport (MIA) 1 Miami 33102 8.3% 412,915 11 million million miami-airport.com 305-867-7077

1 Jeff Fuqua Blvd. 38.81 35.71 Orlando International Airport (MCO) 2 Orlando 32827 8.7% 308,173 22 million million orlandoairports.net 407-825-7445

2200 S.W. 45th St. #101 26.94 24.65 Fort Lauderdale-Hollywood International Airport (FLL) 3 Dania Beach 33312 9.3% 278,002 33 million million fll.net 954-359-2450

P.O. Box 22287 18.82 17.55 Tampa International Airport (TPA) 4 Tampa 33622 7.2% 189,865 44 million million tampaairport.com 813-870-8700

11000 Terminal Access Rd. #8671 8.37 7.97 Southwest Florida International Airport (RSW) 5 Fort Myers 33913 5% 79,359 55 million million flylcpa.com 239-590-4400

1000 PBIA #123 6.27 5.89 Palm Beach International Airport (PBI) 6 West Palm Beach 33406 6.4% 144,797 66 million million pbia.org 561-471-7420

14201 Pecan Park Rd. 5.5 5.23 Jacksonville International Airport (JAX) 7 Jacksonville 32218 5.2% 93,010 77 million million flyjax.com 904-741-2228

1200 Red Cleveland Blvd. 2.48 2.18 Orlando Sanford International Airport (SFB) 8 Sanford 32773 13.5% 293,742 88 million million orlandosanfordairport.com 407-585-4000

14700 Terminal Blvd. #221 1.65 1.25 St. Petersburg/Clearwater International Airport (PIE) 10 Clearwater 33762 31.8% 105,485 99 million million fly2pie.com 727-453-7800

2430 Airport Blvd. #225 1.59 1.54 Pensacola International Airport (PNS) 9 Pensacola 32504 3.3% Not available 1010 million million flypensacola.com 850-436-5000

6000 Airport Cir. 1.22 1.2 Sarasota Bradenton International Airport (SRQ) 11 Sarasota 34243 1.9% 104,482 11 11 million million srq-airport.com 941-359-5200

6300 W. Bay Pkwy. Northwest Florida Beaches International Airport (ECP) 12 1212 Panama City 32409 898,764 815,160 10.3% 64,782 iflybeaches.com 850-763-6751

28000 Airport Rd. #A-1 Punta Gorda Airport (PGD) 16 1313 Punta Gorda 33982 836,472 628,075 33.2% Not available flypgd.com 941-639-1101

3491 S. Roosevelt Blvd. Key West International Airport (EYW) 13 1 44 Key West 33040 705,321 723,000 -2.4% 53,585 eyw.com 305-809-5210

3300 Capital Cir. S.W. #1 Tallahassee Regional Airport (TLH) 14 1515 Tallahassee 32310 692,724 705,928 -1.9% Not available flytallahassee.com 850-891-7808

700 Catalina Dr. #300 Daytona Beach International Airport (DAB) 15 1616 Daytona Beach 32114 629,843 632,312 -0.4% 297,678 flydaytonafirst.com 386-248-8030

1 Air Terminal Pkwy. #220 Orlando Melbourne International Airport (MLB) 17 1717 Melbourne 32901 473,101 423,000 11.8% 91,331 mlbair.com 321-723-6227

3880 N.E. 39th Ave. #A Gainesville Regional Airport (GNV) 18 1818 Gainesville 32609 433,113 413,520 4.7% 50,901 flygainesville.com 352-373-0249

4796 U.S. Hwy. 1 N. Northeast Florida Regional Airport at St. Augustine (SGJ) 19 1 99 St. Augustine 32095 25,000 40,000 -37.5% 143,000 flynfra.com 904-209-0900

3400 Cherokee Dr. Vero Beach Regional Airport 1 2 22 00 * Vero Beach 32961 8,085 8,038 0.6% 218,618 verobeachairport.com 772-978-4930

1 Commercial services began in Dec. 2015 2 Unscheduled (air taxi) passengers only

ABOUT THE LIST NEED A COPY OF THE LIST? Information on The List was obtained from airport websites and airport representatives. Information for obtaining reprints, web permissions and commemorative plaques, call Total operations include all planes landing and taking o including air carriers, air taxi, 877„397„5134. More information can be found online at OrlandoBusinessJournal.com by military and general aviation. clicking the “Buy” tab near the top of the site. 20 FLORIDA BUSINESS JOURNALS GROWING FLORIDA South Florida MSA numbers inside Miami, Fort Lauderdale and West Palm Beach

ISTOCK PALM BEACH MIAMI INTERNATIONAL AIRPORT COMMERCIAL INTERNATIONAL AIRPORT 52 domestic cities nonstop 98 international cities nonstop REAL ESTATE 22 domestic cities nonstop 4 international cities nonstop MIAMIDADE 47.39 MILLION Total square feet of oice space 12.5% Oice vacancy rate 208.82 MILLION Total square feet of industrial space 5.8% SEAPORTS Industrial vacancy rate Total waterborne tonnage handled (*2018‘2019 projected) FORT LAUDERDALE HOLLYWOOD INTERNATIONAL AIRPORT BROWARD 72 domestic cities nonstop 48 international cities nonstop 28.42 MILLION PORT Total square feet of oice space EVERGLADES 15.2% Oice vacancy rate 92.52 MILLION Total square feet of industrial space 6.3% Industrial vacancy rate

PALM BEACH 23.18 MILLION RESIDENTIAL REAL ESTATE Total square feet of oice space PORT OF 18.9% PORTMIAMI PALM SINGLEFAMILY HOMES SALES MEDIAN SALE PRICE Oice vacancy rate BEACH 45.41 MILLION Total square feet of industrial space 3.4% +9.7% +6.4% Industrial vacancy rate Increase Increase 2,150,000 2,090,000* from 2014 from 2014 SOURCES: CBRE, FLORIDA REALTORS,

7,700,00 9,050,000* 23,990,000 24,210,000* PALM BEACH INTERNATIONAL AIRPORT, FORT LAUDERDALE‘ FY FY FY FY FY FY HOLLYWOOD INTERNATIONAL, MIAMI 2015: 49,238 2015: $282,000 INTERNATIONAL AIRPORT, ECONOMIC 2014 2018 2014 2018 2014 2018 DEVELOPMENT COUNCIL JUNE 24, 2016 21

BANKING COMPLIANCE, REGULATION TOP OF MIND FOR SOUTH FLORIDA BANKERS

NINA LINCOFF are operating under consent according to the report. banker and the businessperson ... orders from regulators. “Certainly South Florida has need to ensure full compliance.” nlinco @bizjournals.com Compliance and regulatory been a hotbed for AML issues for Acosta has close ties to the 7865338214, @SFBJMoney costs are so much a part of a number of years,” Ivan Garces, local banking industry, as he’s banking today that all institutions, principal of risk advisory services also chairman of Doral-based U.S. South Florida — and Miami, in regardless of where they are at Kaufman Rossin, said in a Century Bank, which recently had particular — has long been a hot located and if they are under a previous interview. its ™ive-year-long consent order spot for Bank Secrecy Act and regulatory order, deal with day-to- The higher volume of red ™lag lifted. anti-money laundering compliance day compliance proceedings. reports from South Florida means FIU’s juris master program issues. And in recent years, the Banks ™ile Suspicious Activity two things: There is a higher already is getting buzz from increasing costs of compliance Reports any time a regulatory incidence of suspicious activity banking insiders. Today, most have been felt by area banks and supervisory program or bank in the region, and South Florida banks train compliance sta industry professionals. compliance o›icer notices banks are used to identifying odd in-house or hire talent from If you’re in banking in South out-of-the-ordinary activity in a account activity. competitors. A university program Florida, you are also in the customer’s account. And South One local university, Florida would streamline the pipeline compliance and regulatory Florida banks ™iled more such International University in Miami, and, hopefully, quell demand for industry. More than a few South reports, on average, than banks in is taking banking compliance talented compliance o›icers. Florida-based banks have dealt other parts of the Sunshine State, training quite seriously. It recently “It’s very exciting that FIU has with or are dealing with regulatory according to a report from Miami- announced that it will launch a developed this program,” Florida action. based accounting ™irm Kaufman 30-credit juris master degree in International Bankers Association Coral Gables-based Gibraltar Rossin. banking compliance in the fall. CEO David Schwartz said. Private Bank & Trust, Plantation- More than 10 percent of “It’s a regulated industry, it’s “It’s an exciting thing because based OptimumBank, Hallandale South Florida-based banks ™iled incredibly complex,” FIU College compliance has become so Beach-based Home Federal more than 50 SARs a month, of Law Dean Alex Acosta said. “The complicated. [Miami is] always on Bank of Hollywood, Miami-based while no Central or North Florida rules are getting more and more the radar screen when it comes to Brickell Bank and others currently banks surveyed ™iled that many, precise and complicated, and the compliance and regulatory issues.”

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Magic Leap’s technology lets you see computerized images GREATER FORT LAUDERDALE layered over the real world. A GLOBAL BUSINESS DESTINATION OF CHOICE By Bob Swindell, President / CEO, Greater Fort Lauderdale Alliance

Perhaps best known for our beaches, tropical southeast Florida climate and waterborne way of life, Greater Fort Lauderdale / Broward County is also home to Latin America and national/ international headquarters and thriving industry clusters in the high-skill ields of technology, life science and aviation – with some BIG DEALS of these industries tracing their roots in the area back for many decades. As the o icial public/private partnership for economic development in Greater Fort Lauderdale, my colleagues and I at the CORPORATE Greater Fort Lauderdale Alliance, as well as our sister organizations across South Florida, work to tell this story nationally and globally. Strategically located at the center of the largest MSA in the EXPANSIONS Southeast United States, Greater Fort Lauderdale provides convenient access to all of the business and infrastructure assets of this mega-region, including three seaports and seven airports, DOMINATE while maintaining a sense of connectivity and strong community South Florida has boosted its Telemundo network collaboration. standing as a home for major plans for 1,300 jobs A major advantage for our area is a lower cost of doing business, corporations while its startups are Telemundo signed a $400 million especially when compared with other regions that high-skill growing quickly. deal, believed to be the largest industries call home. With a lower cost of living, no state income tax Those two factors led to major commercial lease in Florida deals in the region over the past and a competitive corporate tax structure, companies are able to history, to build a headquarters year. Convenient connectivity to reap the rewards and strategically invest in employee development, and studio in Miami-Dade County. Latin America and the Caribbean technology and philanthropy. Low barriers to entry beneit startups, The Spanish-language has made the region a leading as well, with more than $1 billion in recent venture capital funding media company, a subsidiary of choice for companies that deployed in the region. NBCUniversal and Comcast Corp., depend on business with those ultimately plans to employ about Companies continually choose Greater Fort Lauderdale to relocate markets, as well as Spanish- 1,300 people on its site just west and expand, often over other areas of the nation and world. One language media irms. such example is Tokyo-based multinational SATO Holdings, which South Florida’s emerging of Florida’s Turnpike near the invented the irst thermal transfer barcode printer in the early technology market has started Dolphin Mall. It received state and local incentives for the project. 1980s. SATO Holdings chose Fort Lauderdale in 2015 to launch to have a bigger impact on the The facility will have buildings its new company, SATO Global Solutions. The company cited the economy. According to CBRE, o‡ice leasing to technology- of 476,000 and 87,000 square technology talent pool and outstanding quality of life as reasons for feet to house its TV production locating in Greater Fort Lauderdale. related irms in the region increased 83 percent in 2015. and administrative o‡ices. There’s Our community is home to a growing list of international, national, These three major deals also room on the campus for a regional and Latin America headquarters, including AutoNation, highlight that trend: third building, if needed. City Furniture, Emerson Latin America and most recently Fortune Prologis is managing 100 giant - Ecolab, which established a new Latin America regional construction of the project, headquarters here in May. Magic Leap dominates Florida which is within its Beacon Lakes The success of these high-skill industries has led to our low current venture capital funding business park. unemployment rate of 4.2 percent, as well as being named the best When looking at the metrics Telemundo’s headquarters is expected to have a $300 million place in the state of Florida to ind a job by the inancial website for Florida’s technology scene, annual economic impact. WalletHub. there’s Magic Leap — and then there’s everybody else. Another strategic advantage is Greater Fort Lauderdale’s appeal The company accounted to millennials and anyone seeking an outstanding quality of life. for the majority of the venture Corporation to construct Keeping in mind that millennials often choose a place to live capital funding in the state in the Center for Intelligent Buildings before securing a job in that market, area leaders work to actively irst quarter, with a $793.5 million United Technologies Corp. recruit and retain young talent. We’ve recently showcased why capital raise. The investors in acquired 30 acres in Palm Beach millennial leaders love our community through a social media based the augmented reality irm Gardens to build its Center for “#WhyGFL” campaign and video. include Alibaba Group, Google, Intelligent Buildings. With so many business advantages and an incredible quality of Qualcomm Ventures, Warner The 224,066-square-foot life, it’s no wonder companies of all sizes are choosing Greater Bros., Fidelity Management, J.P. building would be an estimated $115 million investment. It would Fort Lauderdale. Please don’t hesitate to contact my team at the Morgan Investment Management and Morgan Stanley Investment host a worldwide showcase for Alliance, which was named one of America’s Leading EDC’s by Management. advanced building products such Global Trade, to assist with your relocation and expansion needs. Then Magic Leap graced the as security systems, elevators www.glalliance.org cover of Wired magazine for a and air conditioning for UTC feature story on its mind-blowing subsidiary Carrier Corp. technology, which promises to UTC pledged to create 450 let people see computerized jobs at the project. It’s expected images layered over the real to have an economic impact world. of $662 million over ive years. Magic Leap recently moved The project could receive up to into a 260,000-square-foot $10.56 million in local and state headquarters in Plantation and is incentives. hiring hundreds of employees. — Brian Bandell JUNE 24, 2016 23

REAL ESTATE STRONG OCCUPANCY OF SOUTH FLORIDA REAL ESTATE LEADS TO BUILDING BOOM

BY BRIAN BANDELL com, which tracks South Florida higher rents in most of South condo projects, as of April 25, there Florida, which has revived a [email protected] are 14,692 units under construction, construction market that has been 786 533 8215, @SFBJRealEstate 12,071 units planned and 19,092 dormant in that sector for years. units proposed east of Interstate Marcus & Millichap’s 2016 OŠice Available space has become 95. Miami-Dade County accounted Investment Forecast predicted rent increasingly diŠicult to ‹ind in for 73 percent of that pipeline. growth of 4.7 percent, 3.7 percent South Florida, causing a real estate However, new condo sales have and 4.2 percent in Miami-Dade, building boom in many sectors. slowed because foreign buyers lost Broward and Palm Beach counties CBRE’s 2015 multifamily purchasing power in 2015 when the this year. Miami-Dade has 600,000 report found that vacancy rates U.S. dollar gained in value against square feet of oŠice space under were 3.6 percent, 3.5 percent many currencies in Latin America. construction slated for delivery this and 4.7 percent in Miami-Dade, South Florida condo projects year, with an additional 412,000 Broward and Palm Beach counties, typically require 50 percent down square feet coming in 2017. Broward respectively. Rents have steadily payments, so the majority of the and Palm Beach have 500,000 and increased in all three counties, buyers are wealthy foreigners. 120,000 square feet of new oŠice although some experts question The industrial market space expected to open in 2016. how long that will continue because is bene‹iting from another The biggest oŠice projects rent hikes have outpaced wage international activity: trade. under construction include Two growth. Demand from logistics companies FILE PHOTO MiamiCentral at the Brightline The tri-county area has 25,928 and distribution ‹irms serving South An exterior view of Brickell City station, Brickell City Centre, 800 apartment units under construction, Florida’s retail and construction Centre Waterford at Blue Lagoon in Miami, 9,062 units in permitting and market have driven up demand Pembroke Pointe in Pembroke 24,361 units in the planning stages, for space. According to JLL, South Miami-Dade. Among those projects, Pines, Aventura ParkSquare, according to the April 2016 report Florida’s industrial market had net Amazon.com has its second O‹izzina in Coral Gables and from Institutional Property Advisors, absorption of 1.21 million square distribution center in Miami-Dade Beacon Tower of Aventura. OŠice a division of Marcus & Millichap. feet in the ‹irst quarter. The region coming out of the ground near towers have been proposed in the That’s even more active than the had 2.85 million square feet of Miami International Airport. downtown areas of Fort Lauderdale condominium market. industrial space under construction, The oŠice market also has and West Palm Beach, but they’ve According to CraneSpotters. with 1.84 million square feet in enjoyed lower vacancy rates and yet to break ground.

THE SKILLS TO DO THE JOB

The number one resource every company needs is great talent. Broward College o‰ ers options for local companies to grow and sustain their talent pipeline. Through our Internship Edge program, your company can benefi t from college educated, entry-level interns that provide innovative ideas and technology to bridge the skills gap and develop tomorrow’s talent. We can help you execute an exceptionally high-quality internship program or directly hire from a pool of qualifi ed applicants. Connect with your next best hire by visiting: BROWARD.EDU/Internship

LAWRENCE CHIK MAJOR: COMPUTER PROGRAMMING CLASS OF 2016 24 FLORIDA BUSINESS JOURNALS GROWING FLORIDA

TOURISM WHY CALL BOCA RATON HOME? SOUTH FLORIDA LOCATION, LOCATION, LOCATION Boca Raton is the southern anchor of Florida’s beautiful SETS NEW RECORDS Palm Beaches, with year round warm weather and BY EMON REISER sunshine. The City is conveniently located between two [email protected] commercial airports and three international ports, and 7865338223, @SFBJLeisure boasts its own executive airport with a customs facility, Disregard the warm winter, making national and international travel easier than ever. strong U.S. dollar and economic uncertainty in Latin America. Tourism is stronger than ever in QUALITY OF LIFE South Florida. Boca Raton is a true full service city oering pristine The region set new records for beaches, beautifully maintained parks and landscaping, visitors in 2015, led by Miami-Dade recreational amenities, cultural programs and activities, County with 15.5 million visitors, a 6.4 percent year-over-year increase. and a wide variety of shops, restaurants, and hotels. Trailing slightly behind was Broward The City is home to three universities, A-rated public County, with a record 15.4 million schools and outstanding private schools, and as a visitors last year, a 7.7 percent increase. Palm Beach County result, the culture of education, life-long learning, and reported 6.9 million visitors last research is ingrained in the Boca Raton community. Two year, a 10 percent increase — its JOCK FISTICK world class hospitals oer the best advances in modern highest spurt ever. Sylvester Stallone points to medicine and medical care, ranging from pediatrics and Collectively, visitors to South Florida had an economic impact the "Eternity Now" neon light neuroscience to cancer treatment and cardiac care. With of $43.43 billion: $24.4 billion in sculpture by Sylvie Fleury all these features and a low tax rate, it is no wonder that Miami-Dade, $14.2 billion in Broward currently on display at the Bass Boca Raton is consistently ranked as one of America’s and $4.83 billion in Palm Beach. The numbers are buoyed by Museum of Art on Miami Beach. best cities in which to live, work, learn and play. huge international events such developer that’s ready to present as Art Basel, the South Beach plans for a hotel with about 750 Wine & Food Festival and the Fort to 1,250 rooms. Even without a BOCA RATON MEANS BUSINESS Lauderdale International Boat Show. groundbreaking date, the county Thirty major corporations and hundreds of other The annual events fuel economic still has managed to secure companies already call Boca Raton home. With development across the region via major conventions such as the corporate oice campuses, research parks, and business-to-business transactions National Organization of Black Law and pump dollars into every inch Enforcement OŸicers gathering in incubator programs, Boca Raton has over 12 million of the hospitality sector, from July 2018. square feet of oice space and locations for every restaurants and retailers, to caterers In Miami-Dade, residents recently size business, from large corporate headquarters and event planners. voted down a privately funded $405 The annual juggernauts typically million proposal from Atlanta-based to entrepreneurial start-ups. The City continues to spawn smaller satellite events that Portman Holdings that would have attract a well diversiƒied industry base, including life coincide with the big-name boons built 800 rooms adjacent to the science, technology, ƒinancial, and professional service and still pack an economic punch. Miami Beach Convention Center. However, the events the Portman hasn’t indicated that it will companies. counties are banking on are submit a di¡erent proposal. If you’re considering a corporate relocation, Boca Raton corporate conferences. High- The $615 million renovation of paying companies that bring their the convention center, a separate should be at the top of your list, and not just because employees to South Florida could project, is slated for completion in of its great weather and picturesque beaches. The encourage their highest earners to 2018 and is expected to have an City oers a unique combination of a robust business visit the region a second or third economic impact of $5 billion over time — and possibly move to the environment with an unparalleled quality of life. 30 years. area. Another prime space for For information about Boca Raton, including ƒinancial Palm Beach County is in the conventions in Miami-Dade would lead when it comes to convention be the $750 million Marriott Marquis incentives for corporate relocation, please call the hotels that are ideal for housing Miami Worldcenter project, which Economic Development Oice at 5613937761 or visit such events. It is the only southeast will have 1,700 rooms when it opens BusinessBoca.com. Florida county with an open in the ¤irst quarter of 2017. convention center hotel connected The Marriott Marquis is among to its largest meeting spaces. The several major hotel projects coming 400-room Hilton West Palm Beach online in downtown Miami. The opened earlier this year and will thousands of rooms across a dozen house such conventions as the or so projects are expected to World Stem Cell Summit, which spur more tourism to the region. attracts 1,200 attendees, in 2017. However, occupancy rates are only Attracting larger conventions inching slightly upward with the — as Broward and Miami-Dade current swell in inventory, leading counties aim to do — will take some developers to believe demand bigger convention hotel projects, is shrinking, according to a report but neither has begun constructing by Bloomberg. Other developers are a proper space. still vying for space in what is known Broward may be further as one of the hottest markets for along in the process, having a hotel development in the U.S. JUNE 24, 2016 25

HEALTH CARE

Growing in Florida since 1968

FILE PHOTO e Miami Cancer Institute, now under construction, is to open later this year. PROVIDERS FOCUS ON OUTPATIENT SETTINGS South Florida’s major health care expansions to many of its providers have directed most existing facilities. of their growth initiatives to Cleveland Clinic Florida outpatient settings. plans to build a 65,000-square- Hospital systems increasingly foot outpatient center in Coral have turned to urgent care Springs and add 65 beds to its centers, ambulatory surgery main campus in Weston. centers and freestanding There also are plans for JM Family Enterprises continues to be guided by emergency departments to new hospitals. Jackson Health the principles of our founder, automotive legend attract patients miles away from System nabbed state approval their main campuses. for a 100-bed hospital in Doral, Jim Moran, and the hard work and dedication of The University of Miami’s but HCA Holdings has asked a UHealth System is putting judge to reverse that decision our associates. We have grown into one of the the ‚inishing touches on the and instead approve its hospital largest, most innovative and diversified companies 200,000-square-foot Lennar plan for the city. Meanwhile, HCA Foundation Medical Center, secured state approval to build in the automotive industry. Our businesses include which will bring clinical care to a 200-bed teaching hospital Southeast Toyota Distributors, the world’s largest its Coral Gables campus. It’s also a˜iliated with Nova Southeastern building a medical education University in Davie after independent distributor of Toyota vehicles, and complex on its medical school defeating a challenge from rival campus in Miami. hospitals, although HCA agreed JM Lexus, the No. 1 Lexus dealer in the world for Baptist Health South Florida to withdraw the same number 24 years in a row. has a 36,900-square-foot of beds from Plantation General outpatient and urgent care Hospital. center under construction on Hospitals looking to expand Miami Beach. The nonpro‚it their campuses include Mount For 18 consecutive years, JM Family has ranked on also has a pending merger with Sinai Medical Center, Broward Bethesda Health, so expect it to Health Coral Springs, Westside FORTUNE® Magazine’s “100 Best Companies to boost its outpatient presence in Regional Medical Center, Delray ® Palm Beach County. By the end Medical Center, Memorial Work For ” list. Grow with us at jmfamily.com or of 2016, Baptist Health plans to Hospital West and Nicklaus facebook.com/jmfamilyenterprises. open the 395,000-square-foot Children’s Hospital. Miami Center Institute, featuring There’s also a major South Florida’s ‚irst proton construction boom in senior therapy center. living facilities with on-site Funded by $830 million health care, such as assisted in Miami-Dade County voter- living and independent living approved bonds, Jackson Health facilities. Most of these projects System has many projects in are aimed at the high-end the works, including new urgent market, with luxurious ‚inishes care centers, outpatient clinics, and restaurant-style dining a behavioral health hospital, rooms. a rehabilitation hospital and — Brian Bandell 26 FLORIDA BUSINESS JOURNALS GROWING FLORIDA

Rendering of the 6.2 million- DOWNTOWN POMPANO BEACH square-foot American Dream ARTS & INNOVATION DISTRICT Miami Trend-setting cities around the globe are establishing Innovation Districts—transforming forgotten urban areas into dynamic amalgams of corporate sophistication, startup edginess, walkable communities, trendy restaurants, hip housing and cultural clusters. While considered an emerging phenomenon, the paradigm is something the City of Pompano Beach has already embraced with the latest revitalization and economic development projects incorporating all of these concepts. For years, innovation occurred in sprawling corporate campuses that were isolated. Think Silicon Valley and Research Triangle Park. Today, innovation emerges from a mash-up of ideologies where people co-invent, co-produce and stay connected to all of the RESTAURANTS AND RETAIL dynamic energy because this is where they work, live and socialize daily in an urban environment. DEVELOPERS GO BIG ON Pompano Beach has the only intersection on I‚95, at Atlantic Boulevard, between Miami and West Palm Beach that has a vast RETAIL IN SOUTH FLORIDA under-utilized area totaling 30 acres, now assembled by the city’s Community Redevelopment Agency, that can be developed to Don’t blink, or you might miss and Whitman Family Development, incubate creativity and spur economic growth. it: South Florida is in the midst has con irmed dozens of retailers The area is attractive for innovative transformation for many of a retail rebirth as massive and restaurants, and is slated to reasons. It is historically the downtown area of Pompano Beach developments prepare to debut fully open later this year. Brickell oŠering easy access to transit via interstate, rail and air. It boasts and other huge projects are being City Centre encompasses 5.4 30+ acres of vacant land that are available for new construction and quickly funneled through the million square feet and includes the construction pipeline. 352-room East Miami hotel, several two historically signiŒicant once-dilapidated buildings that are now The projects, which include o‰ices buildings and two condo thriving cultural facilities and the center for activity, engagement huge retail components and other towers. Brickell City Centre is being and entrepreneurial incubation. In addition, the city and county are amenities, will low billions of constructed on 9 acres along South building a new 47,000 square foot library, digital and cultural arts dollars into the tri-county area and Miami Avenue between Sixth and center scheduled to open later this year. create thousands of jobs. American Eighth streets in downtown Miami. All of these positives make this area of Pompano Beach ideal for the Dream Miami, Brickell City Centre R Metropica is a $1 billion mixed- creation of the “arts and innovation district.” and Metropica are among a slew use development in Sunrise with a The process to realize Pompano Beach’s innovative reinvention of upcoming developments with 400,000-square-foot commercial incorporated three key areas: 1) The market analysis and potential sprawling places to shop, big-name component. The project, being built indicating the regional demand for Class A o˜ice space, urban anchors, cushy amenities, o‰ice by developer K Group Holdings, will residential product and retail and how much of each can be space and housing. The projects are encompass 4 million square feet. expected to become prime places IPic Theaters, a dine-in movie chain, supported. 2) Urban design and planning incorporating a unique for South Florida residents to live, will be an anchor. The project also drainage system that will act as a canal system similar to those work and play — while attracting will have residential, commercial, in San Antonio or Amsterdam. The plan envisions an urban international visitors, too. hotel, conference and public spaces and pedestrian environment with streets and canals lined with In the next few years, the major within its 65 acres. Its 2,250-unit o˜ices, outdoor cafes and restaurants. Development projects players in South Florida’s shopping residential high-rise already has will have dual frontage dramatically increasing real estate values. scene may be entirely diŒerent, broken ground at 1800 N.W. 136th 3) Connecting the human capital to the project. Through a new and it’s forcing today’s top retail Ave., and construction is expected “Innovation Organizers” program, participants will be able to and restaurant centers to pay for to be complete by 2017. connect knowledge, talents, experience, intelligence, training and multimillion-dollar improvements. R Downtown Doral is a $1 billion, wisdom among entrepreneurs, innovators, artists and interested The most prominent retail- 120-acre development that will focused developments include: open with 70 brands in its retail locals. The Ali Cultural Arts and Bailey Contemporary Arts (BaCA) R American Dream Miami is a component, called the Shops at that are currently the anchors of the Downtown, are the catalysts 6.2 million-square-foot mega mall Downtown Doral. The development, for innovation advancement, supporting an exciting new frontier proposed in northwest Miami- by Codina Partners, also will have for artists and makers. The “maker culture” typically includes Dade County and projected to 2,800 residential units and 1 million engineering-oriented pursuits such as electronics, robotics and 3‚D open in 2020. Triple Five Group’s square feet of o‰ice space at printing, as well as more traditional arts and craft activities such as $3.2 billion project would be the Northwest 87th Avenue and a few metalworking, woodworking and sculpture. largest mall in North America and blocks north of Doral Boulevard on Technology, creativity, leading-edge anchor institutions and encompass 2,000 hotel rooms Northwest 53rd Street. companies that cluster and connect with start-ups, business and an entertainment complex at Other major projects in the incubators and accelerators, coupled with ‘pride of place’, results the southwest corner of Florida’s works include Dania Pointe in Dania Turnpike and Interstate 75. A Beach and The Oasis in Hallandale in innovative transformation —–and this is what will make the neighboring proposal would bring Beach, along with dozens of “Pompano Beach Downtown Arts & Innovation District”. 2,000 multifamily rental units, 1 smaller-scale projects. www.pompanobeachl.gov/ million square feet of retail and a 3 While those big projects million-square-foot business park. are underway, Whitman Family R Brickell City Centre is a $1.05 Development has proposed a $400 billion mixed-use development million expansion of Bal Harbour in Miami that will include a Shops, Turnberry Associates began 500,000-square-foot shopping an expansion of Aventura Mall – center anchored by Saks Fifth Florida’s largest mall at 2.7 million Avenue, a Cinemax dine-in theater square feet, and Simon will expand and a three-story Italian dining hall. Sawgrass Mills again by 2018. The project, by Swire Properties — Emon Reiser JUNE 24, 2016 27 Tampa Bay MSA numbers inside Tampa, St. Petersburg and Clearwater

ISTOCK PORT TAMPA BAY TAMPA INTERNATIONAL AIRPORT RESIDENTIAL REAL ESTATE COMMERCIAL Total waterborne 67 domestic cities nonstop SINGLEFAMILY HOMES SALES REAL ESTATE tonnage handled 15 international cities nonstop (*projected) 66.7 million Total square feet of oice space +14.95% Increase from 2014 14% Oice vacancy rate

2015: 45,434 201.9 million Total square feet of industrial space

ST. PETERSBURGCLEARWATER MEDIAN SALE PRICE 7.2% INTERNATIONAL AIRPORT Industrial vacancy rate 51 domestic cities nonstop 3 international cities nonstop +9.8% Increase from 2014

SOURCES: FLORIDA REALTORS, COLLIERS INTERNATIONAL, PORT

34,968,421 36,217,593 37,374,290 41,575,000 TAMPA BAY, FLORIDA PORTS COUNCIL, TAMPA INTERNATIONAL 2015: $173,000 AIRPORT, ST. PETERSBURG™ CLEARWATER INTERNATIONAL FY FY FY FY AIRPORT, UNITED STATES CENSUS 2013 2014 2015 2018 BUREAU 28 FLORIDA BUSINESS JOURNALS GROWING FLORIDA

KEY WINS SHOW TAMPA’S BANKING ECONOMIC STRENGTH GAINING STEAM ACROSS SECTORS “The word is out about Tampa.” “Every time I come back here, this place takes another step up.” Larry Moretti and Andy Shapiro, two of the nation’s top corporate site selectors, could barely contain their enthusiasm for Tampa and Hillsborough County during a tour of the community last April. The quality of the metro area’s workforce, its pro-business public leadership, and increasing cool factor among highly-coveted Millennials has earned it a top spot in the consideration set for national and international companies looking at expanding or relocating to other markets. The Tampa MSA has been on a roll the past ‚ive years, and continues to NOLA LALEYE gain momentum. Since the fourth quarter of 2014, the area has had the most consistent across-the-board job growth in key industry sectors such Every TD Bank store features “a slice of life” from the as Professional and Business Services in Florida. community. e 4th Street store has a large photo of St. We’re leading the state in attracting the kind of jobs and talent that help Petersburg’s Festival of States parade. Florida’s economy thrive. Employers can’t seem to get enough of Tampa’s talent pool. The metro area boasts the state’s lowest unemployment and highest job demand, BANKING TAKES ON A with nearly 50,000 job openings – more than 15,000 of them in high- skill, high-wage STEM occupations – available for job seekers as of April. Cigar City’s rising star status is attracting fame across the country and NEW LOOK IN TAMPA BAY the world. less interested in walking into Global healthcare giant Johnson & Johnson chose Tampa for its North BY MARGIE MANNING a bank branch now than they American shared services headquarters last year, a move that will [email protected] used to be, as online and mobile bring more than 500 high-wage jobs to the area by 2018. Watching the 8133422473, @MargieTBBJ banking become the preferred remarkable success Bristol-Myers Squibb has achieved in the market method of doing business for a since opening its North American Capability Center here less than two Bank branches are shrinking growing number of customers. years ago helped seal the deal for Tampa. in number, but growing in Ashley Furniture, the world’s largest furniture manufacturer, opened Still, banking is a relationship innovation, throughout the Tampa its new e-commerce headquarters in Tampa’s Ybor City last spring, and business, and bankers are using Bay area. is busy ‚illing the space with 200 design and information technology the branches that remain to grow There were 1,170 banking professionals. their relationships in new ways oŽices in Tampa Bay as of June Why Ybor? with their customers. It’s “where Millennials want to be,” explained Ashley CEO Todd Wanek. 30, 2015 — the most recent At six PNC Bank branches “We found everything we were looking for ...a rich supply of local date for which information is in the Tampa area, ›inancial e-commerce talent, the perfect building to house our e-commerce available from the Federal Deposit consultants armed with tablets headquarters, and the opportunity to contribute to the revitalization” of Insurance Corp. — down more show customers who walk the historic district. than 10.5 percent from the 1,308 through the door how they can What’s that we hear? branches on the same day in use the bank’s online ožerings London calling? 2008, the year bank oŽices hit an when it’s more convenient to While it wasn’t The Clash on the line, Tampa did get an earful of good all-time high in the area. do so. “We’ve got to be able to news from another one of the UK’s rock stars, TransferWise. The hyper- Consolidation and changing show people the technology, to fast growing ‚inancial technology, or ‘‚intech,’ startup, currently valued at consumer preferences are two let them play with it, touch it, more than $1 billion, announced plans last year to establish its Americas key reasons for the decline. feel it,” said Christopher Scott, Operations center and create 250 jobs here. There are far fewer locally senior vice president and regional Global multinational risk management and insurance brokerage Willis based banks now than in 2008 — manager. Towers Watson made 2015’s British invasion of Tampa complete with the 30 now versus 58 then — as bank Customers still like to walk debut of their new Operational Center of Excellence in North America, failures, regulatory pressures into branches to open accounts, where they plan to hire 157 new high wage positions. and shrinking margins took said Mike Nursey, Florida market These two companies chose Hillsborough County for their new regional their toll. Fourteen area banks president for TD Bank, in showing headquarters because of Tampa’s growing international reputation as a failed between 2008 and 2012, ož the bank’s newest oŽice in a hub for ‚inancial and professional services, with Fortune 500 companies while about the same number of high-traŽic corridor on Fourth like JPMorgan Chase and Citi employing thousands here. healthy banks have sold to bigger Street North in St. Petersburg. Citi, which employs more than 5,000 and is actively growing in the institutions. The new TD “store” — the market, runs its global anti-money laundering operations from the Some businesses said designation TD uses, because Tampa site. consolidation reduces their the oŽices are open seven days a Smart companies are heading south to Tampa. options for borrowing from an week, similar to retail outlets — is “We thought about Massachusetts quite a lot,” said TransferWise CEO institution that has local decision- smaller in size but packed with Kristo Käärmann. “We knew there was a lot of banking industry in Tampa makers; others said consolidation technology and environmentally and we knew other organizations have been successful here. The diversity opens up more products and friendly features. of backgrounds is what’s great in Tampa.” services from larger banks and A handful of locally based new competitors eager to grab banks continue to grow their customer wallet share in the branch networks, among them relatively strong Tampa Bay The Bank of Tampa, which has economy. begun moving across Tampa Bay One certainty is that acquiring into Pinellas County in recent banks look to save money by years. closing branches that are in close Despite its Tampa-centric geographic proximity to each name, the bank has a branch in other. St. Petersburg and is building That strategy works for many oŽices in Largo and Clearwater banks because customers are over the next several months. JUNE 24, 2016 29

BIG DEALS MERGERS AND ACQUISITIONS DOMINATE TAMPA HEADLINES with waterfront seating facing the BY MARGIE MANNING AND new Tampa Riverwalk ASHLEY GURBAL KRITZER R A seven-story parking garage with high-speed elevators and a One of the largest public companies rooftop garden in Tampa will have a new owner, R Fourteen stories of 215,000 likely by the end of the year. square feet of rentable o«ice space TECO Energy Inc. (NYSE: TE), above the parking garage owner of Tampa Electric Co., agreed R 31 stories with 203 luxury to be acquired by Emera Inc. (TSX: apartments above the o«ice space EMA) for $10.4 billion. Emera, based The tower is in the design in Halifax, Nova Scotia, has promised phase. In April, the partners hired to keep headquarters sites for an architect based in Shanghai to TECO Energy and Tampa Electric in design the tower. Tampa; to retain current employees; In addition, two of Tampa Bay’s and to continue to invest in the ALEXIS MUELLNER biggest sports venues are getting Tampa community. One question e future home of the 52-story Riverwalk Tower. serious facelifts. that remains is whether TECO The irst phase of a $100 million CEO John Ramil will stay on after in Florida, California and Texas for Warner Cable (NYSE: TWC) as part of renovation to Raymond James the deal closes in mid-2016. Ramil $10.5 billion on April 1, more than the deal. Stadium, where the Tampa Bay is well-connected in the Tampa 700 consumer complaints about Meanwhile, the investors who Buccaneers play, is under way. It Bay business community, and his service outages were iled with state made millions lipping o«ice towers will build the third-largest video presence could play a role in how o«icials. Frontier has outlined an in the Tampa Bay region are moving scoreboards in the NFL and include the ownership transition is received. action plan to address the issues. on to new development. concession upgrades and luxury Two other companies that deal Those o«icials and customers will A joint venture of Larry Feldman, suite renovations. with a di erent kind of utility — be watching closely to see if there is CEO of Feldman Equities LLC, and Amalie Arena, home of the Tampa phone, cable TV and internet service a repeat as Bright House Networks is Tower Realty Partners has proposed Bay Lightning, saw more than $20 — also have dominated merger and bought by Charter Communications a 52-story tower mixed-use tower on million in renovations in 2015 to the acquisition headlines. After Frontier Inc. for more than $10 billion, making the waterfront in downtown Tampa. club level and concession areas as Communications Corp. (Nasdaq: Charter (Nasdaq: CHTR) the largest It will include the following: well as the addition of loge seating. FTR) bought the wireline assets of internet provider in Tampa Bay. R Two waterfront restaurants, a This year, the Lexus Lounge will be Verizon Communications (NYSE: VZ) Charter also is buying Time bar and cafe on the ground level, renovated.

RETAIL DISCOVER A Retail leads development, COLLEGE job creation in Tampa Bay AS COMMITTED TO Tampa Bay is in prime position to Walmart or Amazon, it likely works YOUR capitalize on the transformation of for everyone else, too. retail. The Bay region, especially the SUCCESS As retailers increasingly shift Interstate 4 corridor between investment into their e-commerce Tampa and Lakeland, is ready for operations, the Bay region will this boom. Several developers are likely bene it. Amazon has put a under construction on speculative major lag in the ground here, with warehouses. two ful illment centers in Ruskin In late 2015, Brennan Investment and Lakeland, and the ripple e ect Group, based in Rosemont, Ill., AS of those warehouses is already closed on 112 acres at 3401 Old being felt. Polk City Road in Lakeland, just o Wal-Mart Stores Inc. is under I˜4’s Exit 38. construction on a $200 million, 2 The irst phase of development million-square-foot e-commerce on that site will be two buildings, YOU facility in Polk County. Walmart is one at 600,000 square feet and building next to a 300,000-square- one at 120,000 square feet. The foot FedEx Group Shipping second phase will be 440,000 Services facility. square feet. ARE These types of distribution “We know that the city of We’ve come a long way from our start in a storefront and a first class of 17 students. With more than 150 bachelor’s, centers can create hundreds Lakeland and the I˜4 corridor master’s, and doctoral programs, along with research of jobs and generate millions absolutely works for distribution,” and internship opportunities, we’ve grown to become in capital investment, which said Bob Krueger, the Tampa-based Florida’s largest private, not-for-profit university. And with campuses throughout Florida and Puerto Rico, translates into more property tax managing partner of Brenna. “We Nova Southeastern University helps our students revenue for municipalities. know that the I˜4 corridor, within realize the power of their potential. Other companies tend to follow ive to 10 years, it’s going to be Learn more about NSU’s Regional giants like Walmart and Amazon. completely illed in, and Tampa Campuses at nova.edu/campuses. com. Companies of that size invest and Orlando will almost become FORT LAUDERDALE | FORT MYERS | JACKSONVILLE | MIAMI | MIRAMAR millions of dollars in research and like one metro market.” ORLANDO | PALM BEACH | PUERTO RICO | TAMPA | ONLINE GLOBALLY data — so if an area works for — Ashley Gurbal Kritzer 30 FLORIDA BUSINESS JOURNALS GROWING FLORIDA

TOURISM HERE’S WHAT’S DRIVING TAMPA BAY’S TOURISM SUCCESS BY FRANCES MCMORRIS years. Here’s some other recent hotel activity: [email protected] R In April, a new boutique hotel 8133422468, @TBBJFrances on the Rocky Point waterfront signed a deal with one of Marriott Whether it’s Beyonce or Taylor International’s new žlags. Lifsey Swift bringing visitors to town, Real Estate Holdings is developing Tampa Bay’s tourism market the hotel in a partnership with continues to heat up to the point Pinnacle Hotel Management. where the demand for hotel rooms R In March, Hotel Zamora got is outpacing the supply. picked up under the žlag of the In Hillsborough County, the Kimpton Hotel chain, making it the tourist development tax hit nearly žirst Kimpton Hotel on Florida’s Gulf $14.2 million in the six months Coast. The Kimpton Hotel Zamora, ended March 31, a 14 percent COURTESY OF OPAL SANDS RESORT which opened in 2014, was the increase over $12.4 million for Exterior of the new Opal Sands Resort on Clearwater Beach žirst new hotel to open on St. Pete the same period last year. As a Beach in 20 years. result, the hot hotel market in R Also in March, the Treasure Hillsborough has seen Embassy to update its lobby, guest rooms, žirst six months of žiscal-year 2016, Island Beach Resort opened its Suites by Hilton Tampa Airport/ outdoor patios and private dining and for the žirst three months of doors less than two months after Westshore recently undergo a $4.5 room. 2016 had an 18.5 percent spike in the debut of Opal Sands Resort. million renovation. Meanwhile, local airports also international travelers. R The Hyatt Regency Clearwater And earlier this year, a developer are boasting of record passenger David Downing, executive Beach Resort & Spa was recently announced that a 128-room traœic. director of the county’s oœicial sold for $120.5 million in a deal that Marriott Courtyard will become In the past year, St. Pete- tourism marketing group, Visit closed Feb. 1. part of Citrus Park Crossing, a large Clearwater International Airport St. Pete/Clearwater, believes the R Now being built is the 37-unit, mixed-use development. Marriott broke its passenger record with area’s popularity will continue to $30 million Waterline Marina Resort has more than 90 percent of the more than 1.65 million travelers, rise, pointing to other cultural and & Beach Club on Anna Maria Island, construction plans for the hotel up from about 1.28 million in 2014, culinary attractions such as the Dali which broke ground last October. completed at an estimated cost of prompting the airport to initiate Museum and the local craft beer R Outside of Pinellas, the $18 million on 2.055 acres. a new master plan that includes movement. In fact, the county’s Seminole Tribe of Florida earlier Another property unveiling a construction projects totaling tourism oœicials are predicting this year unveiled a $1.8 billion facelift was the Renaissance Tampa more than $44 million. Plus, Tampa that about 2,000 new hotel rooms expansion program for its two International Plaza Hotel, which International Airport served nearly will be added in Clearwater Beach properties in Hollywood and spent an estimated $10 million 9.8 million passengers during the alone over the next two to three Tampa.

COMMERCIAL REAL ESTATE O ice, retail markets respond to multifamily growth

BY ASHLEY GURBAL KRITZER threshold necessary to justify intersection of Dale Mabry Highway new construction. But there’s a and West Cypress Street — has [email protected] sense of optimism among brokers owned the site since the late 8133422476, @TBBJAshley and developers that the market 1990s, is laying the groundwork could žinally support a new oœice for that project. It is entitled for 1.2 Tampa Bay’s commercial real development, and a 52-story mixed- million to 1.5 million square feet of estate markets are seeing strong use tower with more than 200,000 development, depending on the activity across all sectors, though square feet of oœice space is in the tenant mix and range of uses — new development remains minimal works in downtown Tampa. retail, residential, oœice and hotel — outside of multifamily development. While there is strong demand that Bromley is able to land. The oœice markets in the for retail space, most retailers The region’s industrial market is region’s two biggest urban cores want to be in urban inžill locations, also coming into its own, recently COURTESY OF REDSTONE — downtown Tampa and St. and there’s been a dearth of new landing several marquee tenants, Petersburg — are experiencing retail development in those parts Preliminary redevelopment including a $200 million Wal-Mart unprecedented demand and of town. plans of Austin Center Stores Inc. e-commerce fulžillment rental growth. Both cities have However, two major center. seen an onslaught of residential developments are in the works district. If that comes to fruition, it Between Walmart’s project development in the last žive years, in Tampa that could draw new could add 65,000 square feet of and two Amazon.com fulžillment building a residential base that’s retailers to the market. Redstone space to Westshore, which includes centers in the region as a strong driving demand for oœice, retail and Investments is in the planning room for a grocer. case for distribution centers in this restaurants. stages of redeveloping the Austin Bromley Cos., the developer of region, brokers expect this sector Rents in both cores remain shy Center, a 10-acre oœice park in the Tampa Bay One — a 17-acre site to continue to perform well in the of the $35-per-square-foot rent heart of the Westshore business just o© of Interstate 275 near the coming years. JUNE 24, 2016 31

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