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Jacksonville Business Journal
First Coast Forward: Where public safety and economic development meet
Does Jacksonville have a crime problem or a perception problem?<\p> In the JBJ’s First Coast Forward survey of business leaders, 70% listed crime or violence as the top challenge for the First Coast area and said they believe it hinders companies from coming to the area.<\p>
Is ‘Stadium of the Future’ worth the cost? Economists weigh in
Is the Jacksonville Jaguars’ “Stadium of the Future” deal worth investing hundreds of millions of taxpayer dollars over 30 years? <\p> The answer to that question depends on who you are asking. While team owner Shad Khan and Mayor Donna Deegan, are strong proponents, economists are more dubious.<\p>
Viewpoint: Jax can be the most affordable-housing-friendly city in Fla
Today in Northeast Florida, we are facing a crisis: safe, affordable housing is no longer within reach for many of our neighbors. <\p> More than half of Jacksonville households are rent-burdened, spending more than 30% of their income on housing costs each month. And for every 100 families searching for housing on 50% of the median household income, only 48 rental units are available to them. <\p>
How international entrepreneurs are finding success in Jacksonville
When Tefilo Lopez opened his Pepe’s Market and Hacienda in Jacksonville in 2005, the area had few alternatives outside of standard American grocery stores.<\p> The city then was fairly homogenous, and Pepe’s struggled, the challenge of building a business made “more difficult due to the amount of Latinos in Jacksonville,” Lopez told the Business Journal through a translated email. <\p>
Jan. 2 Gator Bowl game scheduled for primetime
The TaxSlayer Gator Bowl announced today that the Jan. 2 game will be played at 7:30 p.m. at EverBank Stadium and will be televised on ESPN.<\p> The 80th annual game will feature a team from the SEC as its home team. The SEC representative will face an opponent from the ACC. The participating will be announced Dec. 8.<\p>
Bank expanded into North Florida looks to construct permanent office
Construction for a permanent office is under city review for a Nashville-based bank that recently expanded into North Florida.<\p> Pinnacle Financial Partners, which began building a presence in Jacksonville in January, has doubled its team to 10 client associates in its office at 501 Riverside Ave. The office serves as a temporary workspace until construction on a permanent office on the sixth floor and a full-service retail unit on the ground floor begins. <\p>
St. Johns: Permits issued for PV Concert Hall, office building
St. Johns County issued permits this week for work on the Ponte Vedra Concert Hall as well as a large office building.<\p> The Concert Hall is currently closed for a major renovation project to build a balcony and to add stadium seating near the back. That's just part of the many improvements for what is expected to be at least a $10 million project for the entertainment venue owned by the county and managed by the nonprofit St. Johns County Cultural Events Inc.<\p>
Cowford owner: 'Not a lot has changed' downtown since 2017
In light of downtown restaurant closings like that of Silkie's Chicken & Champagne Bar, the Business Journal sat down with Cowford Chophouse owner Jacques Klempf to discuss the health of the food scene.<\p> Klempf opened the Chophouse in 2017, the culmination of years of effort.<\p>
Viewpoint: Trends shaping the First Coast’s health care landscape
Jacksonville’s health care CFOs, like their counterparts nationwide, face a challenging year. High interest rates, ongoing economic uncertainty, and elevated costs will continue to impact financial stability across the industry. However, the outlook isn’t all bad: new research that polled health care CFOs on their 2024 outlook revealed 79% are anticipating revenue increases. <\p> To achieve this growth, health care CFOs must navigate ongoing challenges and take advantage of new opportunities. Here are the top three industry trends Jacksonville health care CFOs need to know to succeed in 2024.<\p>
The National Observer: Sign of reversal seen amid loan delinquencies
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today we've got stories on a decline in asking prices in the housing market, a shift in consumer-spending habits and changes coming to Cracker Barrel restaurants. But first, we go inside the numbers on still-rising delinquencies among loans backed by commercial real estate.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Cat's Paw Marina adds land, secures approval for big expansion
With the addition of more property near the San Sebastian River in St. Augustine, Cat's Paw Marina has a major expansion project planned.<\p> The project earned the approval of St. Augustine's Planning and Zoning Board on Tuesday, allowing the marina to absorb five more parcels of land to add about 10 acres at the end of Nix Boat Yard Road — for a total of about 20 acres. <\p>
Florida Man Games will be back and bigger in 2025
The Florida Man Games will return for its second iteration March 1, 2025.<\p> The first celebration of the more notorious elements of Florida culture was Feb. 24, with event founder Pete Melfi providing some of the state’s most unruly residents the opportunity to show off their athleticism in such events as the “Florida Sumo Cage Match” and “Evading Arrest Obstacle Course,” complete with St. Johns County deputies.<\p>
Jax space-tech firm breaks ground on new facility in Indiana
A cutting edge development in Southern Indiana will have researchers directly communicating and working with astronauts aboard the International Space Station. <\p> Last week, Jacksonville-based Redwire Corp. officially broke ground on its 30,000-square-foot research and development facility at the Novaparke Innovation & Technology Campus in Georgetown. Redwire's facility, expected to bring about two dozen jobs, will work to meet growing demand for in-space manufacturing and microgravity research. <\p>
Photo gallery: Starliner launched from Cape Canaveral
Carrying its first passengers — NASA astronauts Butch Wilmore and Suni Williams — the CST-100 Starliner launched Wednesday morning from Cape Canaveral on its way to the International Space Station. <\p> The spacecraft performed its planned orbital insertion burn about 31 minutes after launching from Florida’s Cape Canaveral Space Force Station aboard a United Launch Alliance Atlas V rocket.<\p>
Here's why and how to nominate your team as a Best Place to Work
The Jacksonville Business Journal is taking nominations for our annual Best Places to Work award — but not for much longer.<\p> Best Places nominations will close June 19, with the winning companies slate to be honored at a golf tournament in November. <\p>
Newly renovated hotel opens in Fernandina Beach
From Comfort Suites to boutique, this Fernandina Beach hotel is now open.<\p> Innisfree Hotels announced the opening of Surf & Sand Fernandina Beach at Amelia Island, a boutique hotel at 2801 Atlantic Ave. It stands at the former Comfort Suites Fernandina Beach site after significant renovations. <\p>
Site of imploded condominium up for auction again
After a failed bankruptcy case, the riverfront downtown site of the imploded Berkman II tower is set for auction again.<\p> The site where the half-built Berkman II tower sat for years before being imploded two years ago was slated to go to auction May 25 after a court-ordered foreclosure, but a bankruptcy filing from owner PB Riverfront Revitalization of Jacksonville LLC halted the proceedings. <\p>
Landlords’ financials draw increased scrutiny from tenants
As billions are set to mature within commercial real estate-backed loans, tenants are putting extra scrutiny on prospective landlords' financial wherewithal before signing leases.<\p> And while a preference for the newest or most-updated office towers that offer a bevy of amenities remains prevalent among tenants, so too is the appeal of leasing space from a landlord with limited or even no debt on the building.<\p>
Florida board opens door to high school athlete pay
The Florida High School Athletic Association on Tuesday opened the door for student-athletes to earn money from business agreements such as endorsement deals, with the organization’s president calling the move a “good starting point.”<\p> The FHSAA’s Board of Directors voted unanimously to approve a seismic change in the organization’s bylaws to allow athletes to be compensated for their name, image and likeness, or NIL. The changes will be in effect for the upcoming school year.<\p>
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