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Cape Coral Economic Development News
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Keep up to date with Cape Coral Economic Development News! Our eNewsletter contains a wealth of useful information for local business owners, or those considering relocation to our beautiful city. You will also find information about business events and economic development in our area. Please contact our Cape Coral Economic Development Office for further information about Florida economic development resources.
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Breaking News
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New Incentive for Business Growth
March 2013
City Council recently unanimously approved an economic development incentive sure to please area investors and developers in Cape Coral. This action is expected to promote larger developments to come to Cape Coral by way of saving BIG DOLLARS in previously assessed rates and the means used to assess them.
The incentive is based on a major change to the CIAC fees charged upon development when properties are not in an assessment area but have access to City services. CIAC is the short, more familiar name of fees termed Contribution in Aid of Construction rates.
Perhaps the biggest change to this ordinance is that the previous assessment method was based on a per square foot charge while the new CIAC fee is based on the meter size used. The following chart shows the previous rates per square foot.
Previous CIAC rates were:
Water CIAC = .32 per square foot
Sewer CIAC = 1.05 per square foot
Irrigation CIAC = .33 per square foot
The example below outlines just how sizable a savings that developers can realistically expect with the new CIAC Fee Structure.
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Disaster Preparation
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What is Your Disaster Preparation Plan?
 Can you keep your business going after a natural disaster? Businesses in Florida need to plan for how they will handle business operations during a disaster. The EDO has prepared a document with a few Crucial Reminders for Businesses before a disaster strikes. Always keep in mind that storm season in SW Florida extends from June to November. The Cape Coral Fire Department has developed an excellent Hurricane Q & A.
Some changes were made lately to the new flood maps and how the National Weather Service is splitting out wind and surge ratings. The new flood mapping put area’s South of Cape Coral Pkwy, West of Chiquita Blvd. and East of Del Prado in the zone “A” surge area, which means that evacuation notices that might normally apply to the barrier islands and beaches may impact these areas.
One of City's tools to inform businesses and residents of emergency notices is our "Code Red" telephone alert system that can make up to 60,000 phone calls per area. It is easy to access, on the left side of the City home page, scroll down to “Code Red”, choose the box, and fill out the blanks. This system can notify you of impending emergency notices via a mobile or land line.
It is now time to make sure your business, your family and your employees are prepared to help themselves for a potential threat. First, prepare yourself, so that your business is safe and able to recover quickly. Historically, about 40% of the businesses that are closed due to a storm never re-open. Please prepare, don’t be one of the 40%.
The EDO is fullfilling the business liaison function of the City’s Emergency Operations Plan. We’ll provide information about financial and other assistance for businesses that have sustained damage. Contact us.
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Cape Coral EDO News
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National Association of Builders lists Cape Coral as one of the "most improved" housing markets of the year.
Watch the WINK News report
The City of Cape Coral has launched its new audio podcast program. “Capecast Audio 20” is a 20-minute program hosted by Public Information Director Connie Barron. The first podcast is featuring an Interview with City of Cape Coral Economic Development Director Dana Brunett. The City will be recording new episodes on a regular basis, and guests will include elected officials as well as City staff. Learn more
Dana Brunett began his duties as the new Cape Coral’s new Economic Development Director on October 17, 2011 Read more
Effective immediately, the City of Cape Coral is waiving permitting fees associated with repairing damage caused by defective Chinese drywall
Read WINK NEWS report City Resolution 11-13
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Impressions From Past EDO Events
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Cape Chamber Business After Hours, March 15 at Sun Splash
View Event Images
SW Florida Business Assistance Expo, March 10 at Club Square
View Event Images
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Message From Your EDO Team
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Leads, leads and more leads - in the years 2011 and 2012, the EDO has received more leads than at any time before, thanks to the efforts of our business community, the Council for Progress, our council members, and through clicks on our website. We thank you for giving us the opportunity to speak with all who may be interested in relocating or expanding their business in Cape Coral.
We continue to get inquiries about the Veterans Investment Zone (VIZ) and about our Customized Incentives. The VIZ is looking more and more like a business destination, with the four-story Cape Coral-Lee County VA Outpatient Clinic more than 95% completed. It's a beautiful building; if you haven't been by that way - Diplomat Parkway between Del Prado and US 41 - please take a drive, it's very impressive.
Remember, EDO has the tools to help you do business here in Cape Coral. We have information about commercial properties, brochures that take you step-by-step for permits and licensing, a customer advocate program for large projects, and an eager EDO staff to provide you with demographic data, incentives, long range goals and objectives for Cape Coral's business growth. Do you have a project, or an idea for a business? Do it right and let's sit down and talk about how to accomplish your goal. Contact us - we're here to help make it happen. Your timeline is our timeline.
Sincerely,
Your
City of Cape Coral Economic Development Team
On February 28 2011, City Council voted to suspend road impact fees for businesses moving into existing buildings. That means if a business with a higher-impact use moves into an existing building, they would not be charged an added road impact fee. The suspension is effective immediately until September 1, 2012. For details, call EDO at (239) 574-0444.
In January 2011, the EDO presented new business incentive proposals to the City Council and explained how each one would help grow our businesses and encourage new ones to come to the Cape. We were gratified by Council's overwhelming support for the proposal and look forward to making them official!
Council approved an incentive proposal to allow Patriot Plaza to move forward in the VIZ. Patriot Plaza, to be located on Pine Island Road at Corbett Road will include medical and professional office space, a hotel, restaurants and drug stores. Council said it would approve a rebate of the increasing ad valorum taxes on the non-retail developments of up to $1.4 million. By that time, the Plaza is expected to be a new economic engine providing office space and employment for residents and neighbors. We were gratified by Council's overwhelming support for the proposal and look forward to making them official!
The Cape Coral-Lee County Regional VA Clinic is almost completed and set to upen in 2012. Please contact the EDO about business and investment opportinities and customized economic development incentives for the Veterans Investment Zone (VIZ) surrounding the VA Clinic.
If you haven't heard, it's official: the new U.S. Army Reserve Center will be in Cape Coral! The Center, to be constructed on Corbett Road north of Diplomat Parkway, will serve 300 reservists a month for indoor training exercises. The Army Reserve has secured temporary training space in the Cape until construction of the new Reserve Center is completed in 2013. Welcome U.S. Army Reservists!
Read EDO Newsletters
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Small Business Development Center
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Please visit also the Small Business Development Center at FGCU (SBDC) website to check for Cape Coral business seminars and workshops, the latest economic development news and resources for small businesses.
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EDO New Business Chats
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The Economic Development Office (EDO) and Florida Gulf Coast University's Small Business Development Center (SBDC) teamed up to host monthly forums for newly licensed businesses in Cape Coral. The "New Business Chat" program answers questions from new business owners on issues such as organizational structures, business plans, permitting, hiring, financial statements, taxation, marketing, and SBA loans.
Since the first Chat in February of 2011, between 70 and 150 new home and site-based businesses have sprung up in Cape Coral each month. Whether you are thinking of starting a business or have been in business for some time, we encourage you to take advantage of these free sessions to get answers to your questions and concerns about successfully doing business in Cape Coral. It's also a great chance to network with other new businesses and initiate valuable business connections.
"We want to welcome these new businesses to Cape Coral and give them an opportunity to ask questions or receive assistance," said EDO business development coordinator, Christy Vogt, "we want businesses to look to us as a resource." The first year is usually the hardest for new businesses as they struggle for customers, purchase inventory, hire and train staff to get the business off the ground. Frequently, business owners have questions but don't know who to call. "Many first-year mistakes can be avoided if business owners can speak with an expert," said Bob Smoot, certified business analyst with the SBDC, "we are here to give them answers and follow up to see how they're doing."
Next New Business Chat
Fourth Wednesday
of each month
11:30 - 1:30 p.m.
City Hall
Conference Room 220A
1015 Cultural Park Blvd
Cape Coral, FL 33990
For more information, call EDO at (239) 574-0444 or email us. No reservations needed, but RSVP appreciated. Light lunch provided.
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EDO NEWS
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Cape Coral Veterans Investment Zone (VIZ)
Promising for Economic Development
"When it comes to economic development, your timeline is our timeline." - the City is serious about becoming truly business friendly.
More than 200 people attended the 2nd Annual Veterans Investment Zone (VIZ) Forum held by the EDO on November 9, 2011, to learn more about opportunities related to the VIZ, which include properties within a one mile radius of the clinic, but also incorporates the concept of a virtual zone that extends beyond the geographic boundaries surrounding the new Cape Coral-Lee County VA Outpatient Clinic.
The goal of the VIZ will be to develop thriving businesses surrounding the clinic, with services to supplement what the clinic offers and a vibrant walkable community. To make development easier, the City is in the process of zone changes in that area from industrial to commercial activity centers that promote non-residential and mixed-use development.
The Forum featured presentations by the Economic Development Office, the Department of Veterans Affairs, and VIZ developers. Attendants were provided information on available commercial properties, business financing opportunities and incentives, and projects already in the planning stage.
The 200,000 sq. ft. VA Clinic, being built on Diplomat Parkway and Corbett Road, is scheduled to start operations in Spring, 2012, and developers are starting to show an interest. Clinic Director Ajay Dhawan told the crowd that of the 800 clinics that exist nationwide, the Cape Coral clinic "will rank in the top three to five."
Dhawan said the clinic will offer many improved services, operating much like a hospital, but without overnight stays. He expects to hire more than 100 additional workers to staff the clinic, with a goal to hire veterans to fill many of the openings.
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