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Florida Unemployment Rate Drops

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Need to catch up on the latest business news in Southwest Florida? No problem. Here are the top stories of the week pulled from our daily newsletter, Gulfshore Business Daily

 

Friday, Jan.31

GREATER NAPLES CHAMBER HONORS DESANTIS

The Greater Naples Chamber has selected Gov. Ron DeSantis to be the recipient of its inaugural “Friend of Collier Business” award. DeSantis was chosen because of his strong commitment to the environment, water quality and the businesses that depend on it, according to a press release. The Greater Naples Chamber’s Board of Directors commended DeSantis for his actions since being elected to address business and community leaders’ concerns about our water quality. Michael Dalby, president and CEO of the Naples Chamber; Garrett Richter, the chair-elect of the Greater Naples Chamber, president of First Florida Integrity Bank and a former state senator; and Jenna Buzzacco-Foerster, director of government relations, presented DeSantis with the award during a trip to Tallahassee. For more information, visit www.napleschamber.org/advocacy.

 

Thursday, Jan. 30

CROWNE PLAZA COMPLETES $6 MILLION RENOVATION

The 225-room Crowne Plaza Fort Myers at Bell Tower Shops has completed an extensive renovation of its guest rooms and corridors. Rooms now have a contemporary, Southwest Florida style of décor including all new furnishings, mattresses, carpeting, wall coverings and lighting fixtures with energy-efficient LED bulbs. The refreshed lower level floor rooms feature new 42-inch high-definition televisions, while the club level rooms have 55-inch screen high-definition televisions. All guest room bathrooms were totally reconstructed and now offer new walk-in showers and upgraded lighting and the latest fixtures, along with new “barn door” entryways, creating a more spacious feel. The hotel’s corridors were also remodeled with new carpet, wall coverings, window treatments, and lighting. Exclusive to the Crowne Plaza at Bell Tower Shops are the hotel’s special female traveler accommodations, offering extra amenities and comfort including an upgraded hairdryer, flat iron, special toiletries, a robe and slippers, DVD player, yoga mat and yoga block.
 

Wednesday, Jan. 29

GREATER NAPLES CHAMBER ANNOUNCES NEWEST LEGACY LEADER

The Greater Naples Chamber has announced Vi at Bentley Village, a continuing care retirement community, as the organization’s newest Legacy Leader. Legacy Leaders serve as corporate underwriters to the overall mission of the Greater Naples Chamber. Legacy Leaders are considered an influential group of key stakeholders in Collier County, who play a key role in the chamber’s public policy involvement, economic development efforts and civic engagement. Through their contributions, the chamber is equipped to educate the public on legislative issues, be a voice for business and strengthen informal ties among government, business and non-profit leaders to spark greater trust, civility and progressive cooperation, according to a press release. For more information, visit www.napleschamber.org.

 

Tuesday, Jan. 28

UNITED WAY OF THE FLORIDA KEYS, UNITED WAY OF COLLIER COUNTY TO MERGE

United Way of the Florida Keys and United Way of Collier County will merge to create the United Way of Collier and the Keys as of April 1. The unification will allow the organization to increase operational efficiency and streamline duplicated internal processes, ultimately resulting in more dollars available for the local community, a press release states. By becoming United Way of Collier and the Keys, the organization will now offer a seamless experience for donors in both areas and increase local engagement and volunteer opportunities. As internal operations are consolidated, external activities and programs in the community will essentially remain the same. United Way of the Florida Keys President/CEO Leah Stockton has been named Florida Keys area president with the new organization. United Way of Collier County President/CEO Steve Sanderson will remain in his position with the new organization. Leaders from Monroe County and Collier County will serve on the new United Way of Collier and the Keys board. Local advisory boards will also be created in each county as a crucial component to identify needs and spearhead local community investment and fundraising efforts. The current staff will continue to work from existing local offices.

 

Monday, Jan. 27

FLORIDA UNEMPLOYMENT RATE DROPS

Gov. Ron DeSantis announced Florida’s unemployment rate dropped to a record low of 3% in December 2019. Additionally, the labor force continued to increase with 220,000 Floridians entering the workforce over the year. The Naples area added 4,800 new private-sector jobs in the past year. The area’s unemployment rate was 2.5% in December, down 0.6 percentage points from one year ago. The Fort Myers area added 8,200 new private-sector jobs in the past year. The area’s unemployment rate was 2.5% in December, down 0.6 percentage points from one year ago. The industries with the highest growth over the year in the Naples area were leisure and hospitality with 1,700 new jobs and construction with 1,000 new jobs. The industries with the highest growth over the year in the Fort Myers area were education and health services with 2,100 new jobs, and professional and business services with 1,900 new jobs. Altogether, Florida businesses created 198,200 private-sector jobs over the year and the state’s annual private-sector job growth rate of 2.5% continues to outpace the national job growth rate of 1.5%. To view the December 2019 employment data, click here.
 

Publicly Traded Companies

ALLEGIANT NET INCOME UP FOR Q4, YEAR

Allegiant Travel Co. has released its financial results for the fourth quarter and full-year 2019, as well as comparisons to the prior year. The company experienced a consolidated net income of $60.5 million for the three months ended Dec. 31, 2019, up 46.1% from $41.4 million from the same period in 2018. The company also reported a consolidated net income of $232.1 million for the 12 months ended Dec. 31, 2019, up 43.4% from $161.8 million for the same period the year prior.

 

TGR FINANCIAL INC. REPORTS RECORD 2019 FINANCIAL RESULTS

TGR Financial Inc., the holding company for First Florida Integrity Bank, announced year-to-date earnings of $17.1 million for 2019, representing a 14% increase compared to 2018 results. The company produced a return on average assets of 1.15%. Earnings represented $0.89 per diluted share for the year, an increase of $0.11 over prior year. Common shares of TGRF closed on Jan. 28 at $13.50. For more information, visit www.ffibank.com.

 

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