VOLUSIA AVERAGE ANNUAL WAGE INCREASES – According to data
published by Enterprise Florida, the average annual wage in Volusia
County increased 4.4 percent from 2005 to 2006. The 2006 average annual
wage was $30,059, and was the first time the average has passed $30,000.
Average annual wages have increased more than 16 percent from 2002 when
the average was $25,852. The average annual wage by county statistics
are used to determine eligibility for employment incentives relating to
company expansions or relocations. The minimum company average wage (for
all employees) to qualify for incentives will be $34,568 after Jan. 1.
HIGH TECH CAREER EXPO IN FEBRUARY – The Florida High Tech
Corridor Council will host a Career Expo at the Tampa Convention Center
Feb. 27 - 29. Companies will be given an opportunity to discuss their
hiring needs with career center directors from 100 of the nation's top
universities. Universities planning to attend include Princeton, Notre
Dame, MIT, Georgia Tech, Cornell, Purdue, University of Illinois at
Urbana-Champaign and Carnegie Mellon. To learn more about the expo and
sponsorship opportunities, visit
www.floridahightech.com/careerexpo or contact Owen Wentworth at
owentworth@cfl.rr.com.
AUTOMOTIVE PRODUCTS MANUFACTURER SEEKING NEW FACILITY – The
Volusia County Department of Economic Development is in negotiations
with a manufacturer of automotive products seeking 200,000 square feet
of manufacturing, warehouse and office space to lease or buy. If you
know of an existing facility or suitable industrially zoned land, please
contact John Kizer, business specialist, at 386/248-8048, or email your
information to jkizer@co.volusia.fl.us. Your information will be
forwarded to the company.
MEDICAL TECHNOLOGY ATTRACTING VENTURE CAPITAL – One way to gauge
a community’s medical technology/device manufacturing activity is to
examine venture capital investment in area companies. According to the
latest issue of MX magazine, a medical technology industry publication,
medical device companies in the Southeast received $59 million in
venture capital funding in the second quarter of 2007. The good news is
that Florida medical device companies have succeeded in attracting $45
million, the lion’s share of the regional total.
SBA 504 LOANS AVAILABLE – As commercial lenders tighten their
underwriting policies in reaction to the meltdown in the sub-prime
residential mortgage market, the SBA 504 program is gaining popularity
as a solid alternative for commercial fixed-asset financing. Under the
504 program, lenders get a 50-percent loan-to-value first lien on the
asset purchased, which results in a lower rate to the borrower. SBA
lenders provide financing at a fixed, long-term rate for 40 percent of
the project cost. The business owner keeps more working capital because
the down payment is limited to 10 percent in most cases. Eligible
projects under the 504 program include the purchase of real estate and
improvements, constructing new or renovating existing facilities, and/or
the purchase of long-life machinery and equipment. Interest rates on the
504 portion of the loan are below market as they are funded by the sale
of bonds on Wall Street. Maturities are fixed for 10 or 20 years. Costs
associated with the loan can be financed in the loan. For more
information, contact your bank or the SBA online at
http://www.sba.gov/services/index.html .
FLORIDA COMMUNITY COLLEGES RANK NO. 1 – For the fifth
consecutive year, Florida’s community colleges rank first among more
than 1,200 schools as the nation’s most successful producers of
associate degrees. According to Community College Week’s annual report,
Florida’s community colleges lead in total number of associate degrees,
degrees awarded to African-American students, degrees awarded to
Hispanic students, health professions and related clinical sciences
degrees and nursing degrees.
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
