A 2,200-square-foot Starbucks just got a development order and will soon rise next to Aldi, Gate gas station and Tractor Supply Co at Belle Terre and SR100.
palm coast economy
For the past 13 months, Flagler County’s unemployment rate has been stuck within in narrow band in the mid-5.5 percent range, bottoming out at 4.9 percent last May and peaking at 5.7 percent three times along the way.
The streak in increasing unemployment is echoed by an equally suggestive streak: five straight declines in the number of house sales closing in Flagler County, going back to May’s post-recession peak of 259 sales.
Manufacturer Gioia Sales employs 42 on Palm Coast’s Hargrove Grade and would build a larger facility on Commerce Boulevard, with 10 years of subsidies from Flagler County.
Chipotle Mexican Grill’s restaurant would go up on State Road 100 in Palm Coast as the company continues to expand after weathering a severe blow from a rash of food poisonings contracted at its restaurants in the West and Midwest last year.
The developers of Island Walk, the once and future shopping center previously known as Palm Harbor in the heart of Palm Coast, have secured long-term leases with enough retailers to fill 84 percent of its space when it begins opening in phases in 2016.
The 247 homes sold in June reduced the county’s supply to just five months’ worth, tilting the market to sellers’ advantage, while prices saw a healthy rise as well.
Unemployment figures released Friday show the solid, continued improvement of Flagler-Palm Coast’s economy, especially when compared to where the county was five years ago.
Palm Coast residents love their government services even as they attack them in a broad survey, but they also find work opportunities dismal and shopping and cultural opportunities not much better.
Flagler County’s unemployment rate continued to improve in November, falling to 8.2 percent, the fourth successive monthly improvement and the lowest rate since the Great Recession as Florida’s rate, too, fell in November, matching the national rate of 5.8 percent.