After 30 years in the sporting goods industry, Bo Ankrom has decided to close the doors of his sporting goods store, Pro Sports Plus that has been in Palm Coast since 1997.
palm coast economy
1st Quarter Revenue at Palm Coast Data Falls 13%, But CEO Paints Brighter Picture Ahead
Revenues from the company’s Media Services businesses, which include Palm Coast Data’s Subscription Fulfillment Services, fell from $20.3 million for the first quarter of 2014 to $17.5 million in the 1st quarter of fiscal year 2015. CEO Rory Burke said the company is “not teetering on the brink of disaster.”
Staving Off a Major Blow, Palm Coast Data Settles With German Publisher, Extending Relationship
Heinrich Bauer LLC, one Palm Coast Data’s major clients, released some claims on the company in exchange for more than 10 percent of the company’s stock and a pledge to stay with Palm Coast Data through 2018. The alternative would have represented a significant blow to Palm Coast Data, which has already been weakened by successive losses over the years.
Single-Family Home Permits Up 29% in 1st Quarter as Construction in Palm Coast Churns
Some 126 construction permits were issued for single-family homes in Flagler County in the first three months of the year, 88 of them in Palm Coast and 34 in the unincorporated part of the county.
The End: Palm Coast’s Books-A-Million, Flagler’s Only General-Interest Bookstore, Is Closing
Books-A-Million in Palm Coast on Wednesday announced an everything-must-go sale ahead of closure, ending the town’s very brief romance with a bookstore larger than an attic. The company lost money in 2013. There is no known replacement for the store, a mainstay of the Target shopping center.
Unemployment Spike to 9.3% in Flagler Masks Larger Labor Force, More Job Creation and Flurry of Development Ahead
Flagler County’s January unemployment is up sharply from from 8.8 percent in December. but in a brighter sign, the county’s labor force also added some 400 people, there was a net gain of some 200 jobs, and numerous commercial, residential and government construction projects suggest that the county’s economy is brightening.
Proposed Law Would Halt New Red-Light Cameras and Cut Fines By Half to End Profits
Besides no longer allowing municipalities and counties to install red light cameras after July 1, the proposal would cut fins to $83 and allow local governments to impose only a $25 surcharge on tickets to fund the existing systems, which would be allowed to continue. That would lower Palm Coast’s and its private provider’s take by two thirds, likely rendering the system too expensive to run.
Palm Coast Getting Fleeced of Red-Light Camera Dollars, Harming Local Economy
In September, the 43 red-light cameras in Palm Coast generated $255,740 in fines, what would work out to an annual total of $3 million. The state and ATS, the private company running the system, took more than seven times the revenue share left Palm Coast, which means that the overwhelming majority of the money is leaving the local economy.
Florida Hospital CEO David Ottati, Major Force in Local Economy, Leaving for Tavares
David Ottati, the CEO at Florida Hospital Flagler for the past seven years, where he oversaw a vast expansion that increased hospital employment past 1,000 and helped cushion the local economy’s severe downturn of the past few years, will be leaving the hospital to take a new post as CEO of the 269-bed Florida Hospital Waterman in Tavares, in Central Florida, in early June.
Sea Ray Boats in Palm Coast Benefits from Plant Closures Elsewhere, With Cautions
Consolidation will likely add to the payroll in Flagler County, and do so with well-paying manufacturing jobs. It also puts to rest, at least for now, worries that Sea Ray’s local plant would either close. But the company is facing tough economic headwinds even as it stock soars to seven-year highs.