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Tampa Bay Business Journal
Meet AFC Logistics, a 2024 Fast 50 honoree
AFC Logistics is a third-party logistics firm. It was founded in Illinois in 2016 and relocated its headquarters to Tampa in 2022. The firm provides diverse services to logistical needs with industry experience and expertise, it said.<\p> What was the most exciting thing to happen at or to your company last year? The most exciting thing to happen at our company last year was witnessing the incredible growth of our employees. More than half of our current leadership team comprises individuals promoted from within, and we are eager to increase that number even more in the coming year.<\p>
St. Pete developer to build luxury townhomes/apartments in Sarasota
A St. Petersburg developer plans to build luxury townhomes and apartments on Little Sarasota Bay.<\p> Jeff Craft of Tampa Bay City Living told the Business Journal he will soon build 57 townhomes and 325 apartments on roughly 32 acres in Sarasota. Tampa Bay City Living will build the townhomes near the water, and the apartments will be built in partnership with Birmingham-based Arlington Properties.<\p>
Ybor landlord sues Big Storm for millions in unpaid and future rent
Big Storm Brewing has been sued by its former Ybor City landlord, who says it is owed millions of dollars in unpaid and future rent.<\p> Tampa-based Third Lake Partners, which owns Centro Ybor, filed a lawsuit in Hillsborough County Circuit Court on Tuesday, seeking a judgment for more than $2.38 million, which includes $422,909 in back rent that Big Storm did not pay from November 2021 to June 30, 2024. Third Lake alleges it is owed more than $1.9 million in future rent through the end of Big Storm's lease in 2033. <\p>
Tampa Bay among Florida metros seeing a drop in rent prices
While rent prices across the United States saw the biggest jump in June since late 2022, Florida is going against the national trend and seeing lower rates in some of its most populous metros, including the Tampa Bay region.<\p> The latest Redfin report shows that rent prices in the Sunshine State's four most populous metros are declining. They skyrocketed during the height of the Covid-19 pandemic. <\p>
Notebook: Polk businesses are more open to diverse ideas, leadership
Polk County’s fast growth has brought wider perspectives, more diversity, and deeper intellectual assets. <\p> It’s anecdotal, but Michelle Ledford, who founded the Lakeland marketing and branding firm MADE Brands in 2017, said clients and collaborators are more open to new approaches and opportunities than ever. <\p>
The Haven purchases land for new Sarasota community
Sarasota-based The Haven, a nonprofit organization that provides services for people with disabilities, has acquired a property in Sarasota’s University Town Center, where it intends to build a new supported living community. <\p> The nonprofit purchased the roughly three-acre property on May 14 for $1.05 million, according to the Sarasota County Property Appraiser. A donation from the Shapiro family made the purchase possible, according to a release. <\p>
Pickleball social club coming to St. Pete's Warehouse Arts district
The Factory St. Pete has landed a major tenant that will bring year-round foot traffic to the anchor of St. Petersburg's burgeoning Warehouse Arts district. <\p> Reuben Pressman, founder and managing operator of the St. Pete Athletic Paddle and Social Club, said Thursday that the club will occupy 45,000 square feet at The Factory by early 2025. It signed a lease earlier this year, Pressman said.<\p>
Polk data: Trends around wages and poverty rates are looming concerns
Polk's demographics show concerns. While its median household income is now $60,900, it is below Florida’s $67,900, and the country's is $75,150.<\p> Ralston said the number of people in poverty is also a concern. Polk County has 15.7% of the population living in poverty; the state has 12.7%, and the country has 11.5%.<\p>
For now, Polk uses resources to avoid a taxing question on growth
A drive around Polk County, Florida’s fourth-largest county by land mass, shows growth everywhere. It can be seen in housing and warehouse projects, new businesses and traffic delays — a phenomenon new to some Polk residents. <\p> In March, the U.S. Census Bureau affirmed the growth. Three counties in the Tampa Bay area ranked among the top 15 fastest-growing in the country from 2020 to 2023. Polk County ranked No. 5 in the nation, adding more than 88,000 residents over the last three years. Lakeland-Winter Haven had the 12th-highest increase. <\p>
Banks' battle for talent, territory in Polk County
The once sleepy Central Florida corridor has become a battleground for talent and territory for banks that want a share of the lucrative commercial and industrial market. <\p> The spillover of individuals and businesses from Tampa Bay and Orlando and explosion in business relocations, real estate development, manufacturing and distribution has transformed Polk County from a bedroom community into a prized market, and banks have piled into the area.<\p>
Polk State College addresses internal and external needs to grow
Polk State College’s president, Dr. Angela Falconetti, saw the population explosion coming when she was hired seven years ago. <\p> The growing institution now addresses internal and external needs to match the growth.<\p>
Expanded Lakeland and Winter Haven dining fosters new placemaking
Lakeland’s foodie culture is evolving. <\p> New restaurants and food offerings are advancing in the downtown core, said Katie Worthington Decker, senior VP at the Lakeland Economic Development Council. <\p>
Amid rising affordability issues, a Polk housing crisis is easing
Winter Haven had a 100% occupancy rate for nearly three years, and the lack of available multifamily housing was holding back the economy. <\p> With no place to rent, it was hard for employers to recruit from outside the area, said Bruce Lyon, president of the Winter Haven Economic Development Council. <\p>
Clearwater contractor adds Lakeland office
A Clearwater contractor that specializes in health care and education construction has opened an office in downtown Lakeland.<\p> Creative Contractors opened an office at 207 E. Main St. in a historic building in downtown Lakeland. The company has been active in Polk County for decades, first working on projects at Lakeland Regional Health in 1998. In addition to health care and education, the company also does public spaces, corporate properties, facilities for hospitality, parking and religious organizations.<\p>
Polk County seat faces the intersection of old guard legacy and growth
Bartow is open for business, but it faces some implied hurdles. Foremost, it’s a daytime economy. <\p> As the county seat, its challenge is that roughly 60% of downtown property is tax exempt because of the offices for the board of county commissioners and the state court system, City Manager Mike Herr said. <\p>
Polk gained over $750 million in AGI through migration
Polk County had a net migration of 12,108 tax filers and 24,613 individuals from 2021 to 2022, according to new data from the IRS. This resulted in an additional $751 million in adjusted gross income for the county. Overall, the county added 32,388 tax filers with over $1.8 billion in AGI. Meanwhile, 20,290 filers with just over $1 billion in AGI left the county. <\p> Of the tax filers moving to Polk, one-third were from Orange, Osceola and Hillsborough counties. A similar percentage of the people leaving Polk went to those same three nearby counties. However, there was a significant inflow of people from other states. Nearly half of the net inflow came from outside Florida, with the biggest number moving from New York.<\p>
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