COUNTY INDUSTRIAL REVENUE BONDS USED TO HELP MBI EXPAND – The
Volusia County Industrial Development Authority has tentatively approved
up to $6 million in new industrial revenue bonds (IRBs) to finance the
construction of a 32,000-square-foot production facility and the
purchase of new equipment for MBI Marketing and Printing in DeLand. MBI
employs 80 workers, and anticipates an additional 20 jobs upon
completion of the project. INC Magazine recognized MBI as the
fastest-growing direct mail company in America. IRBs offer tax-exempt
financing at rates below the prime lending rate for capital projects,
including land, buildings, new construction, equipment and machinery.
Manufacturers interested in learning more about how IRBs can benefit
their company may contact Phil Ehlinger at (386) 248-8048.
2007 VOLUSIA ECONOMIC SUMMARY – The impacts of the current market
slowdown can have a number of positive and negative influences on how
capital investments are made throughout the area’s economy. Annually,
the Volusia County Department of Economic Development profiles these
influences and impacts as a means of better understanding the
ever-changing local economy, and to forecast future activity. If you
would like to learn more about how job creation, payrolls, new
construction, foreclosures, home sales and spendable income impact
Volusia County’s economy, look for this report online at
http://floridabusiness.org/2007financialsummary.pdf.
UNIVERSAL MAP EXPANDING – The County’s Economic Development
Department has announced the consolidation and relocation of Universal
Map to the DeLand Airport. Headquartered in Michigan, Universal has
leased space in the former General Dynamics facility owned by Ideal
Aluminum. The relocation includes a consolidation of Universal’s Lake
Mary and Daytona Beach operations along with an additional estimated 14
jobs from Michigan. Ultimately, the changes will result in up to 65 new
jobs for the greater DeLand area.
SELLING TO EAST ASIA – Have you already worked with China?
Wondering about the rest of Asia? Join the Orlando U.S. Export
Assistance Center from 9 a.m. - noon, April 3 to learn about the other
East Asia: Japan, Korea, Thailand and the Pacific Basin. The session
will include information on the best prospects for U.S. exports and
investment, information on trade agreements, and how to overcome local
barriers to trade. The program will be at the Disney Entrepreneur Center
in Orlando. To register for this informative event, call (407) 420-4848
or go online to
https://emenuapps.ita.doc.gov/ePublic/newWebinarRegistration.jsp?SmartCode=8Q3P.
ADVANTAGES OF THE SBA 504 LOAN PROGRAM – 504 Loans can be used in
a variety of projects, including commercial retail, franchises,
healthcare, manufacturing and service. Many deals that cannot be
financed through industrial revenue bonds or conventionally loans can be
financed through the SBA 504 Loan program. The 504 program provides
loans at below-market rates with low down payment requirements. The
owner of the project can operate in 51 percent of a building and lease
the other 49 percent, creating an income stream to strengthen cash flow.
Many area banks are willing participants because they can fund as little
as 50 percent of a project and still remain in a first-lien position.
For more information, contact your local commercial lender or go to
www.sba.gov.
FORESTRY IN VOLUSIA COUNTY – Volusia County is comprised of
707,800 acres of land. Forests are the major land use, covering 65
percent of the county. Private landowners own 82 percent of the forest
area. Standing timber is valued at $383 million with an estimated annual
harvest of $5 million. Approximately 1,100 workers are directly employed
in the local timber industry and an additional 2,310 are indirectly
employed, generating a total estimated annual payroll of $21 million.
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
