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					E C O N O M I C & M A R K E T

                                UPDATE                             A B I - M O N T H LY P U B L I C AT I O N O F T H E N E W S C E N T E R


                                                                                   V O L U M E 1 7 , I S S U E 4 • J U LY / A U G U S T 2 0 0 8




                                Health Care Expenditures Continue To Grow

                                A
                                            ccording to Claritas Research, health care expenditures in the 10-county Tampa Bay
                                            market totaled more than $8.3 billion in 2007. Health care expenditures include consumer
                                            expenditures for medical services, drug and medical supplies. Pinellas and Hillsborough
                                counties represents a considerable share of these dollars. Pinellas County represents more than $2
                                billion or 24 percent, while Hillsborough County represents $1.9 billion, or 24 percent.

                                By 2012, total expenditures are expected to reach $12.7 billion, or 51 percent increase, and
                                Hillsborough County will exceed Pinellas County in total expenditures. Hillsborough County health
                                care expenditures will reach $3.1 billion, or 54 percent gain, while Pinellas County will reach $2.9
                                billion, or 42 percent gain.

                                In 2007, there were 271,300 adults in the Tampa market who received an overnight stay procedure,
                                while 270,600 received cardiac care. Orthopedics followed with 191,400 adults receiving care.

  Welcome                       See more details below.


                                                  HEALTH CARE CONSUMER EXPENDITURES BY COUNTY
                                           By 2012, nearly $12.6 billion will be spent on health care* in the Tampa DMA.
  The Economic & Market                    Pasco County is projected to grow the most in this category over the next five years.

                                           COUNTY                                  2007                              2012           % GROWTH
    Update provides you                    Hernando                       $346,970,100                     $544,137,100                           57%
                                           Hillsborough                 $1,989,925,500                   $3,073,295,600                           54%
    with comprehensive
                                           Pasco                          $886,263,700                   $1,407,881,900                           59%
 market information – news                 Pinellas                     $2,006,821,800                   $2,862,150,400                           43%
                                           Total MSA               $5,229,981,100                   $7,887,465,000                            51%
   that will help you stay                 Citrus                         $311,760,000                     $479,184,000                           54%
                                           Hardee                          $35,305,200                       $48,130,200                          36%
   in the loop and make                    Highlands                      $207,846,900                     $304,955,700                           47%
                                           Manatee                        $666,430,400                   $1,035,375,500                           55%
informed business decisions.               Polk                           $995,022,100                   $1,507,072,600                           51%
                                           Sarasota                       $930,804,400                   $1,424,962,200                           53%
   For a free subscription
                                           Total DMA               $8,377,150,100                 $12,687,145,200                             51%
 to the electronic version of
                                                    * Health Care includes medical services, drugs, and medical supplies. Source: Claritas 2007
The News Center Economic
  & Market Update, go to        Medical Services Received By Households in the Past Three Years
                                Besides overnight stay procedures, cardiac care was the service received most by households
    TBO.com, Keyword:           in the Tampa DMA.

      Market Update.            Any overnight stay procedure               271,300            Neurology                                           75,500
                                Cardiac care                               270,600            Mental healthcare                                   64,900
                                Orthopedics                                191,400            Cosmetic/reconstructive surgery                     52,800
                                Cancer/oncology                            176,300            LASIK eye surgery                                   46,000
                                Pediatrics                                 173,900            Nonsurgical cosmetic dentistry                      44,000
                                Laser eye surgery                          116,400            Cosmetic surgery                                    43,300
                                Maternity care                              98,000            Reconstructive surgery                              30,900
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    MEDICAL SERVICES CONSUMER EXPENDITURES BY COUNTY                                                        PHYSICIAN SERVICES CONSUMER EXPENDITURES BY COUNTY
    By 2012, nearly $4.1 billion will be spent on medical services* in the Tampa DMA.                           By 2012, over $1 million will be spent on physician services in the Tampa DMA.
    Pasco County is projected to grow the most in this category over the next five years.                       Pasco County is projected to grow the most in this category over the next five years.

    COUNTY                               2007                          2012          % GROWTH                   COUNTY                          2007                          2012       % GROWTH
    Hernando                    $122,085,000                  $163,842,000                     34%              Hernando                   $33,212,900                   $41,401,700             25%
    Hillsborough                $811,161,300                $1,084,429,600                     34%              Hillsborough             $232,096,300               $288,054,700                 24%
    Pasco                       $325,116,800                  $444,624,000                     37%              Pasco                      $90,028,400              $114,241,700                 27%
    Pinellas                    $762,858,200                  $932,909,300                     22%              Pinellas                 $212,882,400               $242,250,500                 14%
    Total MSA             $2,021,221,300                $2,625,804,900                        30%               Total MSA             $568,220,000               $685,948,600                   21%
    Citrus                      $107,264,800                  $139,893,300                     30%              Citrus                     $28,917,900                   $35,075,500             21%
    Hardee                       $12,906,800                    $15,182,100                    18%              Hardee                      $3,615,200                    $3,956,100              9%
    Highlands                    $69,308,000                    $86,217,300                    24%              Highlands                  $18,652,200                   $21,588,500             16%
    Manatee                     $248,544,400                  $332,241,700                     34%              Manatee                    $68,491,300                   $85,171,100             24%
    Polk                        $374,781,900                  $490,011,500                     31%              Polk                     $104,655,300               $127,103,200                 21%
    Sarasota                    $340,868,300                  $445,213,500                     31%              Sarasota                   $92,833,000              $113,086,400                 22%
    Total DMA             $3,174,895,500                $4,134,564,300                        30%               Total DMA             $885,384,900            $1,071,929,400                    21%

       * Medical Services includes eye care services, dental services, physicians services, services                                             Source: Claritas 2007
         by specialists, lab tests/x-rays, hospital room, hospital service other than room, care in
                        convalescent or nursing home, other medical care service.
                                            Source: Claritas 2007




Hispanic Heritage Month 2008: Sept. 15 - Oct. 15

I
      n September 1968, Congress authorized President Lyndon B.                                            population than did the United States (45.5 million). (Spain had a
      Johnson to proclaim National Hispanic Heritage Week, which was                                       population of 40.4 million.)
      observed during the week that included Sept. 15 and Sept. 16.
The observance was expanded in 1988 to a month-long celebration                                            Sixty-four percent of Hispanic-origin people in the United States
(Sept. 15 – Oct. 15). America celebrates the culture and traditions of                                     are of Mexican background. Another 9 percent are of Puerto Rican
those who trace their roots to Spain, Mexico and the Spanish-speaking                                      background, with 3.4 percent Cuban, 3.1 percent Salvadoran and 2.8
nations of Central America, South America and the Caribbean. Sept.                                         percent Dominican. The remainder are of some other Central American,
15 was chosen as the starting point for the celebration because it is the                                  South American or other Hispanic or Latino origin.
anniversary of independence of five Latin American countries: Costa
Rica, El Salvador, Guatemala, Honduras and Nicaragua. In addition,                                         About 50 percent of the nation’s Dominicans live in New York City and
Mexico and Chile celebrate their independence days on Sept. 16 and                                         about half of the nation’s Cubans live in Miami-Dade County, Fla.
Sept. 18, respectively.
                                                                                                           Median age of the Hispanic population in 2007 was 27.6 years. This
Population                                                                                                 compares with 36.6 years for the population as a whole.

The estimated Hispanic population of the United States as of July 1,                                       States and Counties
2007, was 45.5 million, making people of Hispanic origin the nation’s
largest ethnic or race minority. Hispanics constituted 15 percent of the                                   Forty-eight percent of the Hispanic-origin population lives in California or
nation’s total population. In addition, there are approximately 3.9 million                                Texas. California is home to 13.2 million Hispanics, and Texas is home to
residents of Puerto Rico.                                                                                  8.6 million.

The percentage increase in the Hispanic population between July 1,                                         There are 16 states with at least a half-million Hispanic residents.
2006, and July 1, 2007, was 3.3 percent, making Hispanics the fastest-                                     They are Arizona, California, Colorado, Florida, Georgia, Illinois,
growing minority group.                                                                                    Massachusetts, Nevada, New Jersey, New Mexico, New York, North
                                                                                                           Carolina, Pennsylvania, Texas, Virginia and Washington.
The projected Hispanic population of the United States on July 1,
2050, will be 102.6 million. According to this projection, Hispanics will                                  The Hispanic population of Los Angeles County, Calif., in 2006 was 4.7
constitute 24 percent of the nation’s population by that date.                                             million — the largest of any county in the nation. Harris County, Texas,
                                                                                                           and Miami-Dade, Fla. (1.5 million each) followed. Maricopa County, Ariz.
The nation’s Hispanic population during the 1990 Census was 22.4                                           (home of Phoenix) had the biggest numerical increase in the Hispanic
million. As of 2007, the size of the U.S. Hispanic population worldwide                                    population (71,000) since July 2005, followed by Harris County (63,000).
ranked second. Only Mexico (108.7 million) had a larger Hispanic


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The increase in Texas’ Hispanic population between July 1, 2006, and            3.3 million
July 1, 2007, was 308,000, which led all states. California (268,000)
and Florida (131,000) also recorded large increases.                            In 2007, the number of Hispanics 18 and older who had at least a
                                                                                bachelor’s degree was 3.3 million, up from 1.7 million a decade earlier,
There are 20 states in which Hispanics are the largest minority                 and the number of Hispanics 25 and older with advanced degrees (e.g.,
group. These states are Arizona, California, Colorado, Connecticut,             master’s, professional, doctorate) was 811,000.
Florida, Idaho, Iowa, Kansas, Massachusetts, Nebraska, Nevada, New
Hampshire, New Jersey, New Mexico, Oregon, Rhode Island, Texas,                 Educational attainment levels are higher among certain Hispanic groups
Utah, Washington and Wyoming.                                                   than among others. For example, among Cubans 25 and older, 75
                                                                                percent were at least high school graduates, and 26 percent had a
Businesses                                                                      bachelor’s degree or higher.

In 2002, there were 1.6 million Hispanic-owned businesses. Forty-five           Jobs
percent of all Hispanic-owned firms were owned by Mexicans,
Mexican-Americans and Chicanos.                                                 Sixty-eight percent of Hispanics 16 and older are in the civilian labor
                                                                                force. Seventeen percent of Hispanics 16 or older work in management,
Nearly 43 percent of Hispanic-owned firms operated in construction;             professional and related occupations. Roughly the same percentage
administrative and support, and waste management and remediation                work in construction, extraction, maintenance and repair occupations
services; and other services, such as personal services, and repair             (although this percentage is significantly lower than for those in
and maintenance. Retail and wholesale trade accounted for nearly 36             management, professional and related occupations). Approximately 24
percent of Hispanic-owned business revenue.                                     percent of Hispanics 16 or older work in service occupations; 22 percent
                                                                                in sales and office occupations; 2 percent in farming, fishing and forestry
Counties with the highest number of Hispanic-owned firms were Los               occupations; and 18 percent in production, transportation and material
Angeles County (188,422); Miami-Dade County (163,187); and Harris               moving occupations.
County, Texas (61,934).
                                                                                There are 82,500 Hispanic chief executives. In addition, 46,200
Families and Children                                                           physicians and surgeons; 53,600 postsecondary teachers; 43,000
                                                                                lawyers; and 5,700 news analysts, reporters and correspondents are
There were 9.9 million Hispanic family households in the United States in       Hispanic.
2006. Of these households, 62 percent included children younger than
18. As of July 1, 2007, 24 percent of total population younger than age 5       Voting
was Hispanic.
                                                                                The number of Hispanic citizens who reported voting in the 2004
Spanish Language                                                                presidential election was 7.6 million. The percentage of Hispanic citizens
                                                                                voting — about 47 percent — did not change statistically from four years
There are 34 million U.S. residents age 5 and older who speak Spanish           earlier.
at home. Spanish speakers constitute 12 percent of U.S. residents.
Seventy-eight percent of Hispanics age 5 and older speak Spanish at             The number of Hispanic citizens who reported voting in the 2006
home.                                                                           congressional elections was 5.6 million. The percentage of Hispanic
                                                                                citizens voting — about 32 percent — did not change statistically from
Income, Poverty and Health Insurance                                            four years earlier.

In 2006, the median income of Hispanic households was $37,781.                  Source: Census Bureau, Facts for Features
                                                                                Source: “The Digital TV Transition: What You Need to Know About Digital TV”
In 2006, the poverty rate among Hispanics was 20.6 percent, down from           (www.dtv.gov); Nielsen Media Research Analog-Digital Transition Readiness Report,
                                                                                April 24, 2008.
21.8 percent in 2005.

In 2006, the percent of Hispanics who lacked health insurance was 34.1
percent, up from 32.3 percent in 2005.

Education
In 2007, 60 percent of Hispanics 25 and older had at least a high school
education and 13 percent of the Hispanic population 25 and older had a
bachelor’s degree or higher.



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Economic overview
                                                                          Florida unemployment rates by MSAs
(June 2008)


F
                                                                                                                      JUNE*            MAY           JUNE
            lorida’s unemployment rate was 5.5 percent in                 Area                                         2008           2008           2007
            June. This represents 508,000 jobless out of a                Florida (seasonally adjusted)                  5.5            5.6            4.0
            labor force of 9,245,000. By comparison, the                  United States (seasonally adjusted)            5.5            5.5            4.6
            state’s current unemployment rate is equal to the
national unemployment rate of 5.5 percent. According to the               MSAs (not seasonally adjusted)
Agency for Workforce Innovation, Governor Crist and the                   Bradenton-Sarasota- Venice                       6.1           5.8           4.2
Florida Legislature recently reaffirmed their commitment to               Cape Coral-Fort Myers                            7.5           7.2           4.7
stimulating the economy by approving the state’s budget                   Deltona-Daytona Beach-Ormond Beach               6.1           5.8           4.3
that includes nearly $10 billion for projects that create jobs            Fort Walton Beach-Crestview-Destin               4.1           3.8           3.1
for Floridians.                                                           Gainesville                                      4.3           3.8           3.4
                                                                          Jacksonville                                     5.6           5.1           4.2
Florida’s labor market at a glance                                        Lakeland-Winter Haven                            6.1           5.6           4.6
(Seasonally adjusted)                                                     Miami-Fort Lauderdale-Pompano Beach              5.5           5.0           3.9
                                                                          Naples-Marco Island                              6.5           5.8           4.5
Total nonagricultural employment had a net loss of 78,100
                                                                          Ocala                                            7.2           6.7           4.8
jobs in June 2008 compared to a year ago. Construction
                                                                          Orlando-Kissimmee                                5.3           5.0           3.9
employment, reacting to the declines in the housing
                                                                          Palm Bay-Melbourne-Titusville                    6.0           5.7           4.5
market, lost 81,600 jobs over the year (-13.5 percent).
Construction losses accounted for 52 percent of job losses                Palm Coast                                       8.5           8.4           6.6
in the state. Manufacturing; professional and business                    Panama City-Lynn Haven                           4.7           4.5           3.5
services; trade, transportation and utilities; financial                  Pensacola-Ferry Pass-Brent                       5.4           4.9           4.1
activities; information; and other services continued to have             Port St. Lucie                                   7.4           6.9           5.6
over-the-year declines. These declines are partially due                  Punta Gorda                                      7.6           7.4           5.2
to weakness in fabricated metal product manufacturing;                    Sebastian-Vero Beach                             8.0           7.2           6.2
employment services; building material and garden supply                  Tallahassee                                      4.5           4.1           3.5
stores; credit intermediation; and publishing.                            Tampa-St. Petersburg-Clearwater                  5.9           5.6           4.2

Florida’s nonagricultural employment                                      *Preliminary
by industry
(Seasonally adjusted)
                                                                      Source: Florida Labor Market Trends, Florida Agency for Workforce Innovation, June 2008

Total government ranks first among Florida major industries
in the number of new jobs, expanding by 31,000 jobs over
the year (+2.8 percent), followed by education and health             to seasonal declines in agriculture and related industries.
services (+29,800 jobs, +3.0 percent) and leisure and                 Locally, the nonseasonally adjusted unemployment rate of Pinellas
hospitality (+18,400 jobs, + 2.0 percent).                            County’s jobless rate increased to 5.5 percent in June from 5.2 percent
                                                                      in May but is up from 4.0 percent last year. Hillsborough County in June
Local area unemployment statistics                                    increased to 5.7 percent from 5.5 percent in May but is still up from 4.0
(Not seasonally adjusted)                                             percent a year ago. Pasco County’s jobless rate increased to 6.8 percent
                                                                      in June from 6.5 percent in May but is up from 4.9 percent last year.
In June, Walton County had the state’s lowest                         Hernando County’s jobless rate increased to 7.5 percent in June from 7.4
unemployment rate (3.4 percent each), followed by                     percent in May but is up from 5.8 percent last year.
Sumter County (3.8 percent), and Franklin County (3.9
percent each). Liberty and Monroe counties follow, with               MSA nonagricultural employment by industry
unemployment rates of 4.0 percent each. Bradford and                  (Not seasonally adjusted)
Jefferson counties had the fifth lowest unemployment
rates (3.5 percent). Hendry County had the state’s highest            The Gainesville metro area led the state in employment gains (+1,700
unemployment rate of 10 percent, followed by Flagler                  jobs, +1.3 percent) in June. Metro areas with the largest annual declines
County (8.5 percent); St. Lucie County (8.1 percent); Indian          in jobs include Tampa-St. Petersburg-Clearwater (-23,100 jobs, -1.8
River County (8.0 percent); and Charlotte County (7.6                 percent), Miami-Ft. Lauderdale-Pompano Beach (-17,400 jobs, -0.7
percent). Hendry County’s high jobless rate is due mainly             percent) and Cape Coral-Ft. Myers (-11,600 jobs, -5.1 percent).

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Airport news                                                                   TIA PASSENGER TRAFFIC ACTIVITY
TIA wins Eagle award                                                           During April 2008, more than 1.7 million passengers passed
Tampa International Airport has won the International Air Transport
                                                                               through Tampa International Airport (TPA), a decrease of 1.38
Association’s 2008 IATA Eagle award for outstanding achievement
                                                                               percent during the same period last year. Domestic traffic
in customer satisfaction, cost efficiency and continuous
                                                                               decreased by 1.53 percent and international traffic increased by
improvement. Since the late 1990s, Tampa International has
spent more than $1 billion in renovations, construction and capital            4.22 percent. Total air cargo for April was 19,245,036 pounds,
improvements. Incheon International Airport in South Korea and                 an increase of 12.34 percent. Mail decreased by 3.32 percent
Airways New Zealand also won Eagle awards.                                     and operations decreased by 1.01 percent. Southwest Airlines
                                                                               reported the highest market share at 29.00 percent, followed
Source: Reprinted from The Tampa Tribune Business section, 6/3/08
                                                                               by Delta Air Lines at 12.98 percent and US Airways at 10.74
                                                                               percent. The top two airlines demonstrating passenger gains
3 vie for TIA design                                                           for the month of April include: Southwest Airlines with 69,774
Three companies will vie for the conceptual design contract of                 passengers and Delta Air Lines with 918 additional passengers.
the North Terminal that’s expected to open in 2015 at Tampa
International Airport: William Nicholas Bodouva & Associates of
New York; HNTB Architecture, with an Atlanta regional office; and
Ricondo & Associates of Chicago. The contract is budgeted for                                               JUNE*              JUNE                   %
$15.8 million.                                                                                               2008              2007              Change
                                                                               Total passengers         1,754,743          1,779,365             -1.38%
Source: Reprinted from The Tampa Tribune Business section, 6/6/08
                                                                               Domestic
Survey: St. Pete Airport has ‘regional draw’                                   Outbound                    788,935            809,452             -2.53%
A survey of St. Petersburg-Clearwater International Airport                    Inbound                     764,149            807,233             -5.34%
passengers shows the facility serves a regional market with 50.5               Total                     1,553,084          1,616,685             -3.93%
percent of travelers staying outside Pinellas County on their trip.
The survey of 436 passengers found 19.2 percent stayed in                      International
Sarasota and Manatee counties compared with 12.8 percent in                    Outbound                     11,114              10,425               6.61%
Hillsborough County. Ninety-two percent of all passengers were                 Inbound                      10,269               9,773               5.08%
on leisure trips. The survey also found that 49.5 percent of the               Total                        21,383              20,198               5.87%
passengers cited location as the main reason for using the airport,
compared with 50 percent who cited airfares and 56.9 percent                   Cargo
who listed availability of nonstop flights. The findings by Tampa-             Outbound                  7,812,640         7,717,345               1.23%
based Research Data Services provide a ray of good news for the                Inbound                   8,970,946        10,217,277             -12.20%
airport, which like more than 100 small- and middle-sized airports             Total                    16,783,586        17,934,622              -6.42%
nationwide lost service as airlines reacted to spiraling fuel costs.
Source: Reprinted from The Tampa Tribune Business section, 6/20/08             Mail
                                                                               Outbound                    468,445            186,912         150.62%
TIA holds on-time ranking                                                      Inbound                     798,652            170,730         367.79%
Nearly 76 percent of departing flights and 74 percent of arriving              Total                     1,267,097            357,642         254.29%
flights were on schedule at Tampa International Airport in June,
according the federal Department of Transportation. TIA ranked                 Operations
11th best in the Unites States in percentage of on-time departures             Domestic                     16,953              17,342            -2.24%
and 10th best in on-time arrivals in June.                                     International                   168                 160             5.00%
Source: Reprinted from The Tampa Tribune Business section, 8/6/08              General                       2,342               2,831           -17.27%
                                                                               Military                         50                  47             6.38%
                                                                               Total                        19,513              20,380            -4.25%

                                                                                               Source: Hillsborough County Aviation Authority,
                                                                                                   Tampa International Airport, June 2008




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                                                           C H A N N E L   8   •   T B O . C O M       •   T H E
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Business &                                          Home sales edge up
                                                    The spring selling season in the Tampa area
                                                                                                             Builder changing name
                                                                                                             Windward Homes is changing its name locally
economic briefs                                     is giving area real estate agents a boost amid
                                                    the dismal housing market. The number of
                                                                                                             to K. Hovnanian Enterprises, which bought the
                                                                                                             Tampa-based builder in 2003. K. Hovnanian
Hillsborough County                                 homes sold in Hillsborough County increased              is based Red Bank, N.J.
                                                    in June compared with May, continuing a
The company operates throughout Florida
and in the metropolitan areas of Atlanta and
                                                    four-month trend, according to the Greater               Venture capital grows
                                                    Tampa Association of Realtors. There were                Three Bay area companies have won
Charlotte, N.C. Gold Cup delivers coffee to         1,394 home sales in June, up from 1,316                  $16.8 million in venture capital funding.
business, maintains coffee machines, and            in May. Another highlight: The number of                 According to the MoneyTree Report from
distributes other beverage and break room           homes listed for sale edged downward. At                 Pricewaterhouse-Coopers and the National
supplies to about 6,500 customers. Aramark          the current selling rate, it would take almost           Venture Capital Association, in the second
is best known for operating the food service        14 months to sell all the homes on the market            quarter of 2008, Persystent Technology Corp.
operations of large sports arenas, convention       now. That’s down from last month’s inventory             of Tampa won $11.6 million; Lifestyle Family
centers, hospitals and other institutions.          of 15 months.                                            Fitness of St. Petersburg won $5 million; and
                                                                                                             Acclaris Inc. of Tampa won $200,000.
Phosphate giant to build in FishHawk                TGH, Moffitt in top 50
Phosphate giant The Mosaic Co. is planning
a new divisional headquarters building in
                                                    Tampa General Hospital is among the nation’s             Apartments on hold
                                                    top 50 hospitals in seven medical specialties,           Construction of the Post Soho Square
the FishHawk Ranch area, where it will              according to rankings released by U.S. News              apartment complex was set to start this fall.
consolidate 400 jobs from across the area.          & World Report. The local hospital earned                But Atlanta-based Post Properties says it is
Mosaic has signed an agreement to buy               the distinction in the fields of ear, nose and           postponing plans until “sometime in 2009.”
7.4 acres. The company plans to build a             throat (ranking 37); endocrinology (39);                 The company cites turbulent economic and
100,000-square-foot office building on the          gynecology (27); heart and heart surgery                 housing market conditions. The proposed
site to house administrative and management         (42); kidney disorders (34); orthopedics                 complex would include 192 luxury apartments
employees working for Mosaic’s phosphate            (25; and urology (27). It was the first time             and 17,000 square feet of retail and restaurant
and supply chain units. Currently, those            Tampa General earned top 50 recognition in               space. The site is at Swann and Howard
employees work in Mosaic’s divisional               endocrinology and heart and heart surgery. It            avenues in Hyde Park.
headquarters in Mulberry and offices in             is a repeat honor in the other categories. Two
Hillsborough and Polk counties. Construction        other Tampa Bay area hospitals earned top
may begin in early 2009, with the building                                                                   Draper confirms Bay area labs
                                                    50 honors in the magazine’s annual ranking:              Draper Laboratory has made it official: The
finished by early 2010. Based in Minneapolis,       H. Lee Moffitt Cancer Center & Research
Mosaic is one of the world’s largest phosphate                                                               Massachusetts-based, nonprofit research
                                                    Institute, which ranked 16th in the cancer               corporation will build labs worth $30 million
mining and fertilizer companies. It employs         specialty; and Sarasota Memorial Health Care
7,000 people worldwide, including 3,000 in its                                                               at the University of South Florida in Tampa
                                                    System, which ranked 43rd in geriatrics.                 and a new microchip manufacturing facility
Florida phosphate unit.
                                                                                                             in St. Petersburg. A deal to lure Draper had
                                                    County gets 1st Whitney Bank branch                      been in the works for some time. The deal
Coca-Cola to outsource 150 jobs                     Whitney Bank opened its first Hillsborough               comes with a raft of economic development
Coca-Cola Enterprises, which produces and           County location in August across from                    incentives for Draper from the state of Florida,
distributes Coca-Cola Co. products, plans           Tampa’s International Plaza. The bank has                Pinellas and Hillsborough counties. Between
to outsource 150 jobs from its Brandon              17 locations in Pinellas, Pasco, Manatee and             the two locations, the lab will employ 165
financial services center to India, Guatemala       Sarasota counties and concentrates on serving            people with an average wage of $75,000.
or Poland. Atlanta-based CCE operates six           mid-sized companies. The bank’s 125-year-                At USF, Draper proposes to explore micro
“shared services centers” around the world,         old New Orleans-based parent, Whitney                    technologies for health and medicine. In St.
including one in Brandon, where about 1,100         Holding Corp., operates more than 150                    Petersburg, Draper plans a microchip design
are employed. The centers handle back-office        locations in Louisiana, Florida, Texas, Alabama          and manufacturing site focusing on ways to
financial services for the company, such as         and Mississippi with more than $10 billion in            produce more custom-made chips that handle
collections, accounts receivable, accounts          assets.                                                  complex tasks with a tine amount of space
payable and payroll. CCE hasn’t determined
                                                                                                             and power. The deal marks the second major
which jobs at the Brandon center will be
outsourced. The positions will be shifted
                                                    Global Imaging expands                                   research coup to the Tampa Bay area.
                                                    Global Imaging Systems, a Tampa-based
overseas by next June. CCE is a major bottler
and distributor of Coca-Cola products. It is
                                                    Xerox company, has acquired Precision                    Builder files Chapter 7
                                                    Copier Service, which conducts business as               The turbulent housing market has claimed
separate from Coca-Cola Co., which owns
                                                    Sierra Office Solutions in Reno, Nev. Terms              another local builder. Tampa-based Smith
the Coca-Cola trademark, and develops and
                                                    of Global’s third acquisition this year were not         Family Homes has filed for Chapter 7
markets products.
                                                    disclosed.                                               bankruptcy court protection. It listed 50 to 99


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creditors and debts ranging from $10 to $50           has outgrown its space at The Pier, the inverted     Other areas
million.                                              pyramid-shaped building with shops and
                                                      restaurants on Tampa Bay. The aquarium               State approves two nuclear plants
Sun to power zoo ride                                 occupies about 2,000 square feet of exhibit          State regulators have approved Progress Energy
Tampa Electric and the University of Florida          space and other 1,000 square feet of office          Florida’s plan to build two nuclear power plants
plan to install solar panels at Lowry Park Zoo to     and classroom space. Moving the aquarium             in Levy County. The $17 billion project will lead
power the zoo’s Skyfari sky ride. A grant from        to the Muvico complex would provide the              to a 3 percent to 4 percent increase in electric
the Florida High Tech Corridor will be used to        aquarium 12,000 square feet for live exhibits        bills each year from 2009 to 2018. Progress
partially fund the $575,000 project.                  and a Marine Discovery Center. The aquarium          Energy Florida is Central Florida’s largest power
                                                      estimates the expansion will cost $5.5 million,      provider, serving nearly 1.7 million customers
Aquarium ranks No. 10                                 which would be covered through grants,               in 35 counties, including Pinellas, Polk and
The Florida Aquarium ranked 10th best among           corporate sponsorships and donations.                Pasco. The two-reactor project would be built
U.S. aquariums in a TripAdvisor.com annual                                                                 about 10 miles north of the company’s nuclear
survey of visitors who used the Internet travel       Utility considers job cuts                           plant in Crystal River and would add about
service to book trips with visits to attractions.     Job cuts may be looming at St. Petersburg-           800 full-time, high-paying jobs. However,
It was the third top-10 ranking for the Tampa         based Progress Energy Florida, Central Florida’s     Progress Energy must gain Nuclear Regulatory
attraction in three years. The Florida Aquarium       largest power provider. The utility may lay off      Commission approval to build. If approved,
ranked 10th in a Coastal Living magazine              workers in the Energy Delivery Unit, which           construction would begin in 2012, and the
ranking of aquariums two years ago and fifth          employs 1,600. The company did not offer             reactors could be operational in 2016 and
last year in Parents magazine’s ranking of kid-       an estimate on how many employees might              2017.
friendly attractions. In the TripAdvisor survey,      be affected. The utility employs 4,250 people
Ripley’s Aquarium of the Smokies in Gatlinburg,       statewide. Progress Energy is considering            Movie kiosks in the works
Tenn., ranked first among aquariums, and the          the job cuts because of the downturn in the          Block Buster, the video rental chain, and NCR, the
Memphis Zoo in Memphis, Tenn., ranked first           economy, which has slowed growth.                    maker of ATMs, will be putting out 50 automated
among U.S. zoos. Also, The Florida Aquarium                                                                kiosks that provide DVD rentals as a pilot program
has successfully completed its capital                Pasco County                                         that could result in 10,000 kiosks within 18
contributions campaign to fund it $1.3 million                                                             months. There was no mention as to where the
Ocean Commotion interactive fish display              Wiregrass tenants named                              first kiosks would be located nationally.
scheduled to open in October. The aquarium            The developers of The Shops at Wiregrass
also expects to take ownership in March of a          reported that three new restaurants and 14           Mall expansion on hold
$1.25 million, 72-foot-long boat to replace the       home décor, fashion and beauty retailers will        Baltimore-based Prime Retail has put plans
Bay Spirit on its wild dolphin eco-tours. The         open stores at the Pasco County shopping             to expand its outlet mall in Ellenton on hold
ship, to be built by Corinthian Catamarans in         center. Forest City Commercial Development           indefinitely after reaching a stalemate over the
Tarpon Springs, will seat 149 people, compared        and The Goodman Co. said the new tenants             road improvements it had to make to get the
with 49 on the Bay Spirit, which will be sold         include American Greetings, Aveda, Brass Tap,        expansion approved. The developer had been in
when it is replaced.                                  Brown Shoe Closet, Cacique, Cantina Laredo,          talks with landowners and Manatee County about
                                                      Christopher & Banks, Hollister, Hot Topic, Juice     widening 60th Avenue, the road that leads into
Avion Park hotel opens                                Zone, Learning Express, Limited Too, Pottery         the mall. Given the costs of the expansion project
The Hilton Garden In Tampa Airport/Westshore          Barn, Put a Cork In It, Stride Rite, Williams-       and the expected rate of return, it did not make
is now open at Avion Park Westshore. The              Sonoma and Yamoto Japanese Steak House.              economic sense for the company to continue
171-room hotel is the second one to open at           The mall, at State Road 56 and Bruce B.              negotiations. Prime is focusing on bigger projects
the 19-acre commercial, retail and hospitality        Downs Boulevard, will be anchored by Dillard’s       near Dallas, San Francisco and Atlanta.
development south of Tampa International              and Macy’s, which are set to open Oct. 30. A
Airport.                                              JCPenney store opened in 2005.                       Florida 3rd in foreclosure rate
                                                                                                           Florida jumped to third nationwide in the rate
Pinellas County                                       Buy a home, get a gas card                           of foreclosures for July, according to a report
                                                      Pulte Homes is using gas as a marketing tool         by housing research firm RealtyTrac. In the
                                                                                                           previous three months, Florida had ranked fourth
Aquarium planning BayWalk move                        to lure potential homebuyers. The promotion
                                                      works this way: Buy a house and get a $4,000         nationwide for foreclosure rates. July’s numbers
The Pier Aquarium might be moving to new
                                                      gas card. The builder says it is offering the        show that one in every 186 residential properties
digs after 20 years at the city’s premier tourist
                                                      cards to buyers in its Trillium neighborhood in      in Florida received either a notice of mortgage
attraction. The proposed relocation calls for
                                                      Pasco County.                                        default, auction sale or bank repossession. For
making space available for a larger aquarium
                                                                                                           metropolitan areas, the Tampa Bay area ranked
at the BayWalk shopping, an entertainment
                                                                                                           27th nationwide in July. Nevada had the nation’s
complex in the heart of downtown, by
                                                                                                           highest foreclosure rate in July, California ranked
downsizing the Muvico theater. The aquarium
                                                                                                           second.


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                                                       C H A N N E L   8   •   T B O . C O M   •   T H E
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        Source: Scarborough Research 2008



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