The Buzz

>>It widens opportunities for businesses, say economists and executives.
"[It’s] only two-and-a-half hours away from Southwest Florida’s front door, and for that much activity to be taking place that close to this area can do nothing but help us," says Todd Gates, whose real estate development company, Gates, has an office in Panama.
The widening—one piece of a $5.25 billion plan to make the 51-mile, man-made canal more competitive—is slated for completion by 2014.
Gary Jackson, director of Florida Gulf Coast University’s Regional Economic Research Institute, says the changes to such major infrastructure signal support in this part of the world for international trade. "It means trade is going to become more important in the future. That’s going to have an impact on the nation, the state and the region," he says.
Gates says other local businesses have expressed interest in doing business in Panama, in part due to the changes under way. He’s taken 50 to 60 subcontractors, vendors, investors and others to tour the area.
"When a market starts growing the way Panama is growing, there are all types of opportunities to fill needs," Gates says. "Growth creates opportunities across the board."
The canal links important international trade routes, and the growth of Asian exports to international markets has been a significant factor of changing trade demands and supplies, says Aysegul Timur, an associate professor of business administration at Hodges University.
"In order to keep up with this growth, international shipping companies must plan accordingly," she says. "However, the Panama Canal has been operating at close to its capacity; therefore, it is important to have an expansion economically to handle estimated future demands."
Timur says it’s hard to specify the direct economic impact of the widening on Southwest Florida because most of the canal’s traffic originates from or travels to the East Coast of the U.S. "However, the growth of Southwest Florida’s economy will need the Panama Canal’s expansion for the efficient transportation," she adds.
Florida will be a major player in the massive investment in Panama, says Manny Mencia, senior vice president of Enterprise Florida’s international trade and business development division. "Oftentimes, people think, ‘It’s Panama, so automatically Southeast Florida companies are going to have an advantage.’ That’s not necessarily the case at all," he says. "If you are a well-managed company with a good product, you can be as successful as anybody in the state."
Mencia says companies can be informed about potential opportunities by taking trade missions organized by Enterprise Florida to Panama and checking out resources by the U.S. Commercial Service, a unit of the International Trade Administration.
Gates estimates that about 25 percent of his revenue now comes from Panama.
"It’s really an interesting place," he says. "Either [you can] hang out and wait for the economy to come back, or you can do something about it and make something happen."
—Lori Johnston

FIVE QUESTIONS

Juergen Hartwich
Executive director, European Business Council

>>Juergen Hartwich spent 10 years after the Berlin Wall came down helping government agencies in eastern Germany bridge the gap with their western counterparts and improve operations. Now he’s bridging the gap between European and Southwest Floridian businesses.
In 1998, he moved from Germany and started a business in Cape Coral to get a visa, so he knows what immigrant entrepreneurs face. As executive director of the nonprofit European Business Council, a 112-member organization recently spun off from the Cape Coral Chamber of Commerce, he’s providing guidance and support for Europeans investing in Southwest Florida. And as the euro continues to gain strength against the U.S. dollar, he expects to see interest grow.

1. What is the European Business Council?

We formed the European Business Council in June 2005 [as] part of the Cape Coral Chamber of Commerce. We [saw a lot of] interest in Germany to open branch offices or relocate small companies here [and] to buy vacation homes here. Now, builders, real estate, mortgage [and other] companies stop by and ask, "How can you connect us to European—especially German—customers?" because the economy in Europe, especially in Germany, is very good.

2. Are you primarily interested in homebuyers?

We are interested in all kinds of people who [want] to invest here. We [want] to bring over business. We help them with business plans, we connect them to immigration lawyers, we help them with all the licensing and permitting stuff, and we connect them with other companies. We tell [German companies]: "We have a safe place here, and you can handle South and Central America [markets] from here because we have seaports and international airports [nearby], we have I-75, we have free trade zones in Cape Coral."

3. How does the European Business Council make money?

We [have] membership fees, and we do special events. We had a German Christmas Market; we renamed it to International Holiday Market, because we want to integrate more ethnic groups from Europe. The next event, [Oct. 11], will be a dragon boat festival. [The time is right because in 2011] the world championships in dragon boat racing are coming to Tampa.

4. After Sept. 11, it was harder for foreigners to visit, and many Europeans sold their homes here. Are more coming back?

More controls are in place when you come as a visitor to the United States. When you have an airport like Atlanta [with more foreign traffic], it’s easier. The non-stop flight [to Southwest Florida] at this time is LTU Airlines. It is stepping up its flights at the beginning of May, [with] five nonstop flights a week, so that means about 8,000 Germans every month coming to this region.

5. How are Europeans responding to the market economy here, especially in terms of real estate?

More requests are coming in, but not buying decisions. They think they can wait a little bit longer for prices to go down. I think by the end of 2008, the beginning of 2009, we [will] see more from Germany, Austria, Switzerland and Great Britain buying homes or properties here. Many Germans sold their vacation homes when we had high prices here and they made good money, and I think now they are starting to come back and buy new vacation homes.
—Jill Tyrer

GETAWAYS
Make a Run for Louisville

>>It’s Kentucky Derby time and the perfect month to sip a mint julep. But there’s much more to Louisville than running for the roses: garden and house tours, antiques fairs, steamboat cruises, museum blockbusters, shopping and dining—and Southern charm at no extra charge. (www.gotolouisville.com)

SEE: The Louisville Slugger Museum & Factory is a must for baseball fans. Art lovers shouldn’t miss the impressive collection at the Speed Art Museum and the singular special exhibitions at the Kentucky Museum of Art and Craft. But don’t spend all your time in museums; the city boasts 18 landmarked parks designed by Frederick Law Olmsted, as well as the nation’s largest collection of Victorian homes in Old Louisville.

STAY: The Seelbach Hilton Louisville hotel is the city’s grande dame. Contemporary ambiance and artworks reign at 21c Museum Hotel, the newest hostelry for trendsetters.

DINE: Louisville boasts some 2,500 restaurants, but if you haven’t experienced the down-home vittles at Lynn’s Paradise Café, then you might as well stay home. Todd Richards is the AAA Five Diamond chef at the The Oakroom, the Seelbach’s elegant, go-to celebratory dining venue. Proof on Main, in the 21c Museum Hotel, was named by Esquire magazine as one of America’s best new restaurants of 2006.

SHOP: Grab your wallet and head to the Bardstown Road and Frankfort Avenue neighborhoods for art galleries, live music, one-of-a-kind boutiques where you can pick up some Kentucky handcrafts, and don’t-miss antiques shops, including Louisville Antiques and Derby City Antique Mall.

INSIDER’S TIP: Meet the ponies and get the scoop. After a visit to the Kentucky Derby Museum, go up close and personal with the sport of kings by taking the Barn and Backside Tour at iconic Churchill Downs.
—Mary Alice Kellogg

MAKING WAVES

Girl Power

>>Lynne Tarman has an incredible mentorship opportunity—though it’s not advancing her own career. The financial services representative with Alliance Financial Group in Fort Myers is heading up Girls Going Places, a scholarship award competition for girls, ages 12 to 18, who have entrepreneurial aspirations.
"Touching the lives of some of these girls that come in there is so rewarding," says Tarman, a 38-year-old Cape Coral resident. "Some are so quiet, and it brings them out of their shell. For some of them, [Girls Going Places is] just an extra boost that they need to be successful."
The one-day business event introduces young women to economic empowerment through educational workshops and sessions. Participants have the chance to ask women business owners about their professional accomplishments as well as their personal lives. The eighth annual nonprofit conference, hosted by Alliance Financial Group, Guardian Life Insurance Co. of America, Florida Gulf Coast University and Regions Bank, will be May 7 at FGCU.
The scholarship process starts with nominations. Adults can endorse prospective participants via forms on www.girlsgoing places.com/ftmyers.
Winners receive scholarships of $10,000, $5,000 and $3,000 for the top finishers, and 12 others will receive $1,000 each. The scholarships are intended to help winners pay for college or for their entrepreneurial pursuits.
Girls Going Places started in 2000 by Alliance Financial Group, and Tarman has been a mentor every year.
"I am extremely passionate about it," she says. "Now I’m actually taking over the event and running it, which is really exciting."
—Michelle Frye