1st Quarter 2011 Update – How’s Daytona Beach Looking… #cre
The Volusia County Economic Development’s 1st Quarter Update Report for 2011 is in and it’s not as bleak as you might think.
The winners for Employment were Education and Health Services, up .6% over 2010, Retail Trade, up 1.3% over 2010, and the big winner was Leisure and Hospitality, up 7.8% over 2010.
It comes as no shock that the biggest job loser was Construction at 10.2% down, but surprisingly Federal Government jobs were next on the chopping block at 9.3% down.
On the Commercial New Construction front it’s encouraging to see Permits in Daytona Beach up. The actual number of permits was down from 38 in 4th quarter 2010 to 30 in 1st quarter 2011, however, the construction value jumped from $4,375,000 in 4th quarter 2010 to a whopping $51,199,094 1st quarter 2011.
Ormond Beach, Holly Hill and South Daytona were all sporting ‘goose eggs’ in 1st quarter 2011 Commercial Construction Permits. And, while Port Orange was down from the 2010 numbers, the $1,005,126 construction value still shows growth. Also, down but not out is Daytona Beach Shores with a $757,149 commercial construction value.
You can check out the full Volusia County Economic Development first quarter 2011 update report here http://floridabusiness.org/Q12011.pdf.
Buddy Budiansky, CCIM and Ron Frederick, PA are commercial real estate professionals specializing the sales and leasing of properties in the Daytona Beach, Ormond Beach, Port Orange, Florida area. Email them at info@buddyandron.com
