Monday – May 14, 2007

DIRECT MAIL CAMPAIGN BEING PREPPED FOR NATIONAL SITE SELECTORS – The county Department of Economic Development is working with more than 50 national real estate site selection companies in providing them with available inventories of larger industrial and office facilities throughout Volusia County. If you have or represent a client with an industrial, distribution or office facility with 40,000 square feet or more and would like the property included in the county’s distribution to these national real estate groups, please contact John Kizer, Business Specialist, at 386/248-8048. Your information will be package and distributed directly to those groups for consideration by their clients that are seeking Florida locations.

HOUSING RENTAL RATES INCREASING BUT LOWER THAN NATIONAL AVERAGE -- According to the National Low Income Housing Coalition, the national housing wage continues to rise nationally. The housing wage is determined by how many dollars per hour a person must earn to afford a housing unit at fair market rent. In 2004, the national housing wage was $15.37. For the same period, Volusia County’s housing wage was $13.13 per hour. In Volusia County, more than half of those who rent spend more than 50 percent of their earned income on housing. Locally, fair market rent in 2006 for a one-bedroom apartment averaged $564 per month.

LEGISLATURE APPROVES FUNDING FOR BUSINESS RESEARCH AND DEVELOPMENT -- The Florida Legislature has approved a $35-million package to support the creation of a seed and investment capital fund for new high-tech businesses. The bill establishes the Institute for the Commercialization of Public Research from the state’s 11 public universities. The new legislation is a measure to help put Florida on par with other major states in attracting venture capital funds. Despite being the fourth largest state in population, Florida ranks 15th in capturing venture funds

WACHOVIA VOLUSIA’S BIGGEST BANK -- According to the most recent Deposit Market Share Report released by the Federal Deposit Insurance Corporation (FDIC), Wachovia is the largest bank in Volusia County. Of the 27 financial institutions operating in Volusia County, Wachovia Bank has 24.1 percent of all bank deposits with $1.9 billion as of June 30, 2006. SunTrust Bank and Bank of America are ranked second and third, respectively.

CONGRESS LOWERS FEES ON SBA LOANS FOR BUSINESS – The U.S. House of Representatives has approved legislation authorizing the U.S. Small Business Administration to reduce fees on its popular 7(a) business loans. The bill also eliminates fees on loans to veteran-owned small businesses. The legislation also makes changes to the SBA's 504 loan program. These loans, which can be used for real estate or other fixed capital assets, are offered through nonprofit economic development organizations known as certified development companies (CDC). The legislation strengthens the ties that a CDC must have to communities and allows businesses to combine a 504 loan with a 7(a) loan to the maximum amount allowed under each program.

INDUSTRIAL ACREAGE NEEDED FOR MANUFACTURING PROSPECT – The county Department of Economic Development is working with an out-of-state manufacturer that is seeking an 8 - 12 acre industrial site to construct a production facility. If you or someone you know has a property that is zoned industrial or light manufacturing and meets the basic acreage requirements, please contact John Kizer, Business Specialist, at 386/248-8048. Your information will be provided to the company for review and follow-up.

DELTONA-DAYTONA BEACH-ORMOND BEACH 100TH LARGEST MSA -- Volusia County was created in 1854 and named for the Port of Volusia along the St. Johns River on the county’s western side and is comprised of 1,106 square miles. The Deltona-Daytona Beach-Ormond Beach Metropolitan Statistical Area (MSA) is the 100th largest metro area by population, according to the U.S. Census Bureau.

NEWS ITEMS WANTED! – Please send your business news items to Dave Byron, Volusia County Community Information Director, 123 W. Indiana Ave., DeLand, 32720-4612, by fax at (386) 822-5072 or by e-mail at dbyron@co.volusia.fl.us