Tampa & Jacksonville Metro MarketWatch

Jabil Commits to St. Petersburg
St. Pete Times, September 12
Company to build new HQ at I-275 and Gandy, expand workforce. http://www.tampabay.com/news/business/economicdevelopment/article808391.ece

State Supreme Court Overturns Strand Taxation Decision
Tampa Bay Business Journal, September 18
Governments can now plan redevelopment projects using tax increment and other public financing as the Florida Supreme Court changed its mind on forcing municipalities to take such decisions to a referendum first. http://tampabay.bizjournals.com/tampabay/stories/2008/09/15/daily52.html?surround=lfn&brthrs=1

Bank Forecloses on North Manatee Development
Bradenton Herald, September 16
Arbor Park, located at U.S. 301 and Buckeye Road, was to have approximately 800 homes and 150,000 square feet of commercial space in its first phase. http://tampabay.bizjournals.com/tampabay/stories/2008/09/15/daily52.html?surround=lfn&brthrs=1

Metro Tampa News…

Bay Area Foreclosures Fall 10 Percent in August
St. Pete Times, September 12
Biggest improvement was in Pasco County, according to data from RealtyTrac. http://www.tampabay.com/news/business/realestate/article808529.ece

New Contract Could Mean New Jobs at Port of Tampa
Tampa Bay Business Journal, September 17
The Tampa Port Authority agreed to lease 43 acres of land at the Port of Tampa, south of the waste water treatment plant on Hookers Point. Terms are for 40 years with two 20-year extensions.
http://tampabay.bizjournals.com/tampabay/stories/2008/09/15/daily36.html?surround=lfn&brthrs=1

Flanders to Move Out of St. Petersburg
Tampa Bay Business Journal, September 15
Flanders Corp. said it would relocate corporate functions to Washington, N.C. Flanders currently owns 18,000 square feet of office space at 2399 26th Ave. N. in St. Petersburg. About 125 of its 2,800 employees work at the St. Petersburg office. http://www.bizjournals.com/philadelphia/othercities/tampabay/stories/2008/09/15/daily13.html?b=1221451200%5e1700595&brthrs=1

Cemex to Idle Brooksville North Plant
Hernando Today, September 16
Slumping housing market forces closure; some layoffs likely. http://www2.hernandotoday.com/content/2008/sep/16/cemex-idle-brooksville-north-plant/news/

Eviction Notices Send Businesses Scrambling
St. Pete Times, September 17
Tenants at Hyde Park Village ousted as owner aims to start redevelopment. http://www.tampabay.com/news/business/retail/article815405.ece

Real Estate Sags in Hillsborough
St. Pete Times, September 16
The median price fell more than 4 percent in the second quarter, according to the county appraiser’s office; specific areas examined.
http://www.tampabay.com/news/business/realestate/article814209.ece

Hotel Indigo to Break Ground
St. Pete Times, September 15
The 168-room project will rise in the Channelside District; property will increase traffic at nearby retailers and restaurants.
http://www.tampabay.com/news/business/article812916.ece

Hotel to Replace Old Club on Key
St. Pete Times, September 16
Officials in Clearwater voted to permit owners of the Belleview Biltmore Resort & Spa to redevelop a restaurant on the site as a six-story hotel.
http://www.tampabay.com/news/localgovernment/article814274.ece

Metro Jacksonville News…

Speculation Starts Over Job Losses on First Coast
Times-Union, September 17
As financial services firms consolidate, local jobs may be at risk. According to state agency, 60,000 people in Jacksonville metro area work in financial sector, representing 10 percent of non-farm jobs.
http://www.jacksonville.com/tu-online/stories/091708/met_333213674.shtml

B of A, Merrill Merger to Have Local Impact
Times-Union, September 16
The two firms have more than 6,000 employees in Jacksonville. http://www.jacksonville.com/tu-online/stories/091608/bus_332657076.shtml

Duval’s Economic Gauge Falls
Times-Union, September 19
A local index of leading economic indicators fell in August by nearly half a percentage point, mirroring national trends.
http://www.jacksonville.com/tu-online/stories/091908/bus_333991479.shtml

State and National News…

State Agencies Take Hit on AIG’s Demise
Sun-Sentinel, September 18
A few state and local agencies reported unrealized losses on investments in AIG and American General Financial Services Corp.
http://www.sun-sentinel.com/business/sfl-flzaig0918sbsep18,0,5552264.story

Darden Will Raise Prices, Increase Promotions
Orlando Sentinel, September 18
Operator of Olive Garden and Red Lobster chains aims to battle tough economic conditions. http://www.orlandosentinel.com/business/orl-darden1808sep18,0,4951921.story

Longs Rejects Walgreen Bid
Tampa Tribune/Associated Press, September 17
Drugstore chain nixes overture from Walgreens, turns to pending deal with CVS instead. http://hosted.ap.org/dynamic/stories/L/LONGS_DRUG_STORES_OFFER?SITE=FLTAM&SECTION=BUSINESS

Most U.S. Hotels are Raising Rates
Hotel News Now, September 18
An analysis of data by Smith Travel Research has been compiled to determine to what extent individual properties increased or decreased their rates in the first half of 2008. Long article with charts.
http://www.hotelnewsnow.com/Articles.aspx?ArticleId=133&ArticleType=1&PageType=Latest