Cape Coral Hot Market for Real Estate and Jobs
According to the Governor’s Office, Florida leads the nation in private-sector job growth going into 2017. Between November 2015 and November 2016, Florida added 251,400 new private-sector jobs, resulting in a private-sector job growth rate of 3.5 percent. Florida’s annual job growth rate has exceeded the nation’s rate, which is 1.7 percent, for 56 consecutive months.
Governor Scott said, “Florida is leading the nation in private sector job growth and sending a message across the country that our focus on making it easier for businesses and families to succeed, is working. In the last six years, more than 1.25 million jobs have been created for families across our state and we will continue to do all we can to grow opportunities and make Florida first for jobs.”
In a January report from Forbes, the Cape Coral metro area ranks as the second hottest real estate market to watch in 2017, in part, because of the warm winter climate. “Sure, the weather is certainly a huge draw for this area of the country. But the reason this metro came in at number two goes beyond sunny skies and 80-degree weather. One word: jobs. It has high job growth (fourth in the nation!) and a sharp drop in vacancy rates over the past year. Many of those jobs stem from the hospitality industry and real estate,” states the report.
Cape Coral’s commercial sector has increased by 50% over the past few years, according to the city’s Economic Development Manager, Dana Brunett. "The last two years we have witnessed unprecedented commercial growth in our community and we envision more of the same going forward," says Brunett. "The fact that our population has grown by 14 percent since the last census provides a large available workforce for new businesses relocating into our community."