CANADIAN MANUFACTURERS LOOKING SOUTH – Due to the change in
the U.S./Canadian foreign exchange rate, now about 1 to 1, manufacturers
with plants in Canada are looking south to the United States for more
cost effective production. The county Department of Economic Development
has spoken to several Canadian manufacturers and U.S.-based companies
with operations in Canada about the advantages of moving production to
the United States. If you know of a manufacturer that fits this
description please call John Kizer, Department of Economic Development,
at 386/248-8049.
SBA 504 PROGRAM PROVIDES ATTRACTIVE FINANCING OPTIONS -- With the
sub-prime mortgage market imploding and house prices slipping, it is
becoming more difficult for entrepreneurs to leverage their homes to
feed their small businesses. The SBA 504 program provides attractive
financing to small businesses that desire to purchase real estate and
improvements, construct new or renovate existing facilities, and/or
purchase long-life machinery and equipment. A typical 504 loan provides
financing at a fixed, longterm rate for 40 percent of the project. A
bank or other lender finances 50 percent of the project and the small
business invests the remaining 10 percent. Interest rates on the 504
portion are below market, and maturities are fixed for 10 or 20 years.
Fees and other costs associated with the loan are financed in the loan.
Visit
sba.gov/services/financialassistance/sbaloantopics/cdc504/index.html
or ask your bank how to qualify.
IRS HAS A SMALL BUSINESS RESOURCE -- The IRS has a website just
for small businesses and the self-employed, including an online
classroom and a free newsletter, the "e-News for Small Businesses". To
get information you need to work smarter go to
www.irs.gov/businesses/small.
WEBSITE OFFERS VIRTUAL TOUR OF FLORIDA TECHNOLOGY -- You don't
have to hop on a plane to gauge tech business opportunities in Florida.
The Florida High Tech Corridor Council has launched
www.VisitTheCorridor.com,
an interactive online tour designed to showcase the region's tech
capabilities to a national audience, including high-tech executives,
entrepreneurs, corporate real estate executives and site selection
consultants.
COST OF NEW HOMES RISES, BUT NUMBER OF PERMITS FALLS – The value
of new residential construction in Volusia County for the third quarter
remained essentially the same as the second quarter, according to data
gathered by the county Department of Economic Development from the
county and city building permit offices. The dollar value of residential
permits was $144.6 million compared to $143.3 million for the second
quarter and $148 million in the first quarter. The number of permits
issued declined to 518 from 584 in the second quarter and 583 in the
first quarter. The average new home permit value for the year to date
increased to $258,802 compared with $223,721 in 2006. New commercial
construction for the third quarter was $95.7 million compared to $41.4
million for the second quarter and $172.5 for the first quarter. Year to
date, new commercial permits have a value of $309.7 million. This
compares to $341.4 million for all of 2006 and $231 million for 2005.
SCORE VOLUNTEERS PROVIDE VALUABLE COUNSELING TO SMALL BUSINESSES
– Did you know that SCORE volunteers spend more than 45 hours a week
counseling small businesses and potential entrepreneurs? More than 40
counselors volunteer their time to provide free assistance to anyone
seeking to start a business, or anyone who needs help to grow their
business. SCORE also holds at least one workshop a month where
entrepreneurs can network and deal with business problems. For more
information on how SCORE can help you, call 386/255-6889 or visit the
website http://www.score87.org.
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.
Department of Economic Development
700 Catalina Drive, Suite 200,
Daytona Beach, FL 32114
Telephone:
386-248-8048
FAX: 386 238-4761 Toll Free: 800-554-3801
