INVESTOR NEWSLETTER - AUGUST 2011
Regional Economic Briefing
The Federal Reserve Bank of Atlanta released a report on the status of Florida's economic recovery at the last JAXUSA Partnership breakfast meeting. The report still shows slow economic recovery but did include some positive points for Jacksonville and Northeast Florida.
Jacksonville's unemployment rate has dropped below 10 percent to 9.7 percent, which is lower than other cities like Orlando, Miami-Ft. Lauderdale, Tampa, Daytona and others.
Our current unemployment rate is significantly better than it was a year ago when it was 10.6 percent, but we still need to aggressively pursue projects to bring more jobs to the region.
Job growth in Florida has been slow, but positive. Nearly one in every five jobs created in Florida during the second quarter were in Jacksonville.
By industry, education, health care and leisure and hospitality showed the most significant job gain in 2011.
Jacksonville's percent employment recovery is among the highest in the state. The only major city ahead of Jacksonville is Orlando by 0.6 percent.
Help the 'Innovate Northeast Florida' Project Advance our Region as a Global Destination for Business
JAXUSA and the Northeast Florida Regional Council are excited to officially kickoff the 'Innovate Northeast Florida' project this month, which is targeting industries that will stimulate future economic growth and target jobs and talent for the future. We have launched the project website www.innovatenortheastflorida.com. The site details the region's new economic development initiative and invites residents and businesses to voice opinions about Northeast Florida's future economy through a brief online survey. I want to encourage each of you to participate in the survey. It only takes about 10 minutes to complete and will ensure this project represents the vision of all residents of our region. The deadline to complete the survey is October 1, 2011. I also want to thank WorkSource for its partcipation with this project.
Read the press release
Economic Development Projects Update
Kaman Aerospace - is planning to add 200 jobs and acquire 80,000 sq. ft. of additional manufacturing space at Imeson Industrial Park in North Jacksonville. The company has received incentive assistance from the City of Jacksonville and the State of Florida to grow the company's aviation components manufacturing.
Medtronic - the city and state have approved the final incentives package for the $14 million research and development and manufacturing facility. The company is adding 175 new jobs with an average wage of $80,000. The company is building a 75,000 sq. ft. building to expand its surgical technologies division, which is headquartered in Jacksonville. As part of the expansion, the company will also be constructing a training lab for physicians to test the new equipment.
EverBank - the state has approved incentives for this project and the company is moving forward with the addition of 200 jobs in our region. EverBank will soon decide whether to move more than 1,000 of its local employees downtown.
Kickoff the Upcoming NFL Season with JAXUSA and the Jaguars
Join us Tuesday, September 6, at the Prime Osborn Convention Center as we kickoff another exciting football season with the Jacksonville Jaguars. Join co-owners Wayne and Delores Barr Weaver, Coach Jack Del Rio, the Jaguars players, the Roar and Jaxson de Ville as we talk about the economic impact of the team on our city and what we can expect from the upcoming season. This has been a sold out event for the past two years, register today at www.opportunityjacksonville.com. Don't forget to purchase your season tickets today. Go Jags!
Cornerstone is Now JAXUSA Partnership
As a reminder the Cornerstone Regional development Partnership has changed its name to JAXUSA Partnership. Our new name showcases our geographical location in the U.S. and increases our visibility with global site consultants and corporate executives considering our market for an expansion or relocation. By the fall, you will see us fully transition from the use of Cornerstone to JAXUSA Partnership.
Read the press release
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Thank you for your continued investment in JAXUSA Partnership, formerly Cornerstone Regional Development Partnership.
Sincerely,
Scott P. Keith
JAXUSA Partnership Chair
Baker, Clay, Duval, Flagler, Nassau, Putnam and St. Johns Counties
3 Independent Drive • Jacksonville Fl 32202 • 904.366.6639
bizrelo@jacksonvillechamber.org • www.jaxusa.org
Where the Future Leads®