Observations on South Florida business
If you judge Southwest Florida’s economic health by the traffic on the roads, you’d be right to say conditions are positive.
Fortunately, the Regional Economic Research Institute at Florida Gulf Coast University can provide the data to back up your anecdotal evidence. Led by Christopher Westley, an economics professor at the university’s Lutgert College of Business, the institute confirms what you’ve noticed on the highways.
Once a month, Westley publishes the Southwest Florida Regional Economic Indicators Report, a useful gauge of the economic wellbeing of the region. We’re fortunate: Not many areas of the country have their own economist gathering and analyzing these kinds of numbers.
Check out the March 2018 report . Westley singles out growth in airport-passenger activity, single-family building permits and tourist-tax revenues. These indicators are part of the virtuous cycle in Florida: tourists visit the region, they spend money at hotels and restaurants and they eventually buy a house.
Consider subscribing to the institute’s emails, which alert you to useful reports on the region’s economic wellbeing. It’ll help you make better decisions that affect your business.
If you live in Lee County, be sure to check out the institute’s quarterly Lee County Business Climate Survey. It provides insights about what your business peers are thinking and planning.
Visit the RERI website by clicking here.
Blogging for entrepreneurs in Southwest Florida (SoWeFlo)