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Economic Development



Florida Named a Top State For Startups
Florida ranked No. 2 in the “Top 10 U.S. States for Startups” list by Comparisun. Comparisun compared each of the 50 U.S. states on criteria such as number of new business applications, rate of new entrepreneurs, corporate tax rate, labor cost, cost of living index and more. Florida’s overall score was 69.75.  Details here.

Cape Coral Veterinary Practice Breaks Ground on Third Hospital
Today's Veterinary Business, Oct. 28, 2019 -- A Cape Coral veterinary practice has broken ground on a third hospital, an 11,630-square-foot facility that will be open 24 hours a day to serve dogs, cats, reptiles and exotic animals.

Viscaya-Prado Veterinary Hospital, expected to open in summer 2020, will be a half mile from the outpatient clinic. Plans call for separate dog and cat wards, 20 exam rooms, four operating rooms, an outdoor run, and a pharmacy and laboratory. The hospital is AAHA-accredited.

Students Attend Build My Future Career Trade Show
Cape Coral Daily Breeze, Oct. 25, 2019 -- On Wednesday, the School District of Lee County and the Lee Building Industry Association held the second-annual Build My Future Lee County career trade show at the Lee Civic Center.

Frank Jenkins, president of the Lee BIA, said the main reason this show is put on is to address the severe labor shortage the construction industry faces. "We have shortages everywhere, from rental companies to mechanics. Our economy is good and we have high demand," Jenkins said. "For years, people have been taught the need to go to college. There are opportunities here for everybody."

Cape Coral Ranks No. 9 for Rapid Economic Growth
Business Insider, Oct. 16, 2019 -- Wallet Hub released its top 25 list of cities showing the fastest economic growth. Cape Coral is No. 9 on the list. The results are based on a study analyzing 515 cities over a seven-year period.  Seventeen metrics were considered including unemployment rate decreases, population growth and median household income growth. 

New Hotel Coming to Cape Coral for First Time in Years
September 16, 2019 — NBC-2 News, Cape Coral, Fla – Business is booming in Cape Coral. Another big project will bring a new hotel to the city. It will be a new Fairfield Inn & Suites by Marriott, located right off Old Pondella Road on the southeast corner of Pine Island Road and Del Prado Boulevard. The estimated cost of the new 109-room hotel is $14 million.

CRA Posts Presentations from September Workshop
Cape Coral EDO, September 16, 2019 -- The Cape Coral EDO recently hosted a half-day development workshop at the Vineyard Church in the South Cape CRA, with several key presenters.

The purpose of the event was to promote mixed-use and multi-family development in the South Cape, which is rapidly becoming a destination for new restaurants and downtown living. The City seeks to attract multi-family and mixed-use development in its Community Redevelopment Area (CRA) by encouraging developments with potential tax increment financing and incentives. Follow the article link to be able to view the presentations.
Mercola Celebrates 22nd Anniversary and Three Years in Cape Coral

Mercola Headquarters moves from Chicago to Cape
Dr. Mercola, August 21, 2019 -- Mercola celebrates 22nd anniversary in Cape Coral after moving to the growing Southwest Florida city three years ago from Chicago.

“Cape Coral provides the best location to continue Mercola’s 22-year-long natural health journey with its abundance of sunshine, outdoor activities and talented people with similar goals in mind,” says Ryan Boland, Vice President of Sales and Marketing. “There are countless opportunities for many in this region, both personal and professional, and we’re very excited to be here and for what the future holds for our team.”

Airport Sets New Monthly Record--Serves more than 1.1 Million Passengers in February
Business Observer, March 25, 2019 -- Southwest Florida International Airport (RSW) set a new February record for passenger traffic as more travelers filled fewer flights. During the month, RSW reports 1,117,409 traveled through the terminal, an increase of 6% over February 2018 despite a 1.2% decrease in aircraft operations. Passenger count is also up 7.3% year-to-date over the prior year at 2,167,502 through February.

Cape Coral Taps CBRE to Sell Waterfront Tract--City Envisions "Transformative" Project for 60-acre Site

Business Observer, March 22, 2019 -- 
The City of Cape Coral has hired commercial real estate brokerage firm CBRE Group to market a 60-acre, waterfront tract for sale, which the municipality hopes will be developed into a mixed-use project.  City officials hope the 7 Islands site can be developed into a cohesive project containing a hotel, retail and office space, restaurants and public amenities that could include conference space, a marina and green space.

Nor-Tech Hi-Performance Boats Opens New Production Headquarters in Cape Coral
Cape Coral, FL, March 14, 2019 -- Nor-Tech Hi-Performance Boats is stepping up its staff and production in its new manufacturing headquarters in Cape Coral. The custom boat builder expects the $2 million, 55,000-square-foot facility to increase production by 30 percent.

Collier, Lee Counties Among Healthiest in Florida
Gulfshore Life, March 2019 -- Southwest Florida again ranked high in the Robert Wood Johnson Foundation study. 
Keep it up, Southwest Florida. Collier and Lee counties continue to rank among the healthiest in the state. The Robert Wood Johnson Foundation’s annual health rankings placed Collier the second-healthiest county in Florida (behind St. Johns). Lee came in at No. 11. The foundation makes its rankings based on the length and quality of life.

The 50 Happiest Cities in America, Ranked
Business Insider, March 13, 2019 -- On a list of cities ranked by three main categories — emotional & physical well-being, income & employment, and community & environment, Cape Coral ranks No. 24 out of the 50 happiest cities in our nation.  This Business Insider report cites a recent study by Wallethub that compared 182 of the nation’s largest cities.

FDOT Study Explores Del Prado Direct Access to I-75

Cape Coral, FL, March 4, 2019 -- To decrease congestion, Florida Department of Transportation is studying connect Del Prado Blvd. to Interstate 75. "It's something that we've looked at in the past," said Zachary Burch, an FDOT spokesperson. "In the past, we haven't been able to get it approved."
Sister City Venture with China Moves Forward:  Delegation Visit Set for February 24
Cape Coral, Fla., January 8, 2019 — Four high-level delegates from the Baise Municipality Guangxi Zhuang will be visiting Cape Coral for the first time February 24-27. Preparations have moved into high-gear after city officials received word that the delegates accepted the city’s formal invitation.

Unique Waterfront Development Opportunity: Developers Sought for Seven Islands in Cape Coral
Cape Coral, FL, Jan. 7, 2019  A much anticipated mixed-use project proposed for Northwest Cape Coral called Seven Islands will be marketed nationally this year following the recent approval of a partnership between the Cape Coral City Council and CBRE. There is an approved development plan for the seven rectangular-shaped "islands" connected to the mainland for a mixed-use project on the 61-acre site along Old Burnt Store Road.

Cape Coral: A Magnet for Advanced Manufacturing
Cape Coral, FL, Dec. 22, 2017  Cape Coral, Florida, boasts a thriving advanced manufacturing environment, which includes the production of solar-energy components, electronics, pharmaceuticals, nutraceuticals, optical instruments and ecological technologies, among others. The Cape Coral metro area ranks as the fastest-growing in the nation—for both population and job expansion—and this waterfront city offers room for expansion, a low cost of doing business and ready workforce. 

Cape Coral’s Medical Industry Growing to Meet Market Demands

Cape Coral, FL, Dec. 1, 2017  Cape Coral is making rapid advances in the medical arena, with expansions in medical device makers and distributors, cancer research, assisted living and niche medical businesses. They join a vital medical environment led by Lee Health, which was recently ranked in the top 6 percent on Forbes’ “America’s Best Employers 2017,” and has four health facilities in the city.

Cape Coral: A Magnet for Medical Offices and Services
Cape Coral, FL, Sep. 1, 2017  Cape Coral is experiencing robust growth in health care providers of all types seeking to capitalize on the growing needs of the expanding city in this critical sector. From regional facilities to renowned clinics and assisted living campuses, health-related businesses and medical offices are opening or expanding at a healthy clip in the largest city in Southwest Florida.

Florida Ranked No. 1 for Entrepreneurship
US News & World Report, April 2017  A U.S. News & World Report study ranks Florida No. 1 for entrepreneurship and No. 6 for its overall business environment.

Cape Coral-Fort Myers ranked #1 Fastest Growing Metro Area
Forbes, February 10, 2017  By every metric that counts, Cape Coral and the surrounding towns are enjoying among the swiftest growth rates in the country. This expansion earns the Cape Coral-Fort Myers metropolitan area the top spot on Forbes' 2017 list of America's fastest-growing cities.

The Cape Coral-Fort Myers Region Ranked #5 for Young Entrepreneurs
MoneyRates, June 12, 2017  Journey about 80 miles south of Bradenton on Florida's Gulf Coast and you will find this dual community. Its spot in this top 10 comes largely from being the fifth fastest-growing area in the country, and once again Florida has one of the most favorable business tax environments.

Cape Coral Ranked #2 Hottest Real Estate Market in 2017
Trulia, December 28, 2016  Whether you’re looking for an investment or a new city with new opportunities, Trulia has compiled a list of the top 10 real estate markets poised for growth in 2017 based on five key metrics. Did your favorite city make the cut?
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