Guest opinion: Cape Coral – The Land of Opportunity
The phrase “Sunny Southwest Florida” should not be a phrase simply to denote the warm and wonderful climate of this great city. Indeed, the economic climate of Cape Coral should be a topic of discussion in innumerable executive board rooms, entrepreneurial meetings and among our throng of aspiring small businesses. While many in our ranks are following in the footsteps of Chicken Little and clamoring that the sky is falling; a growing mass of others are beginning to notice that the current set of business conditions are extremely good.
The problem is one of perception not reality. For example, although many people and business owners have undoubtedly lost money in the economic downturn, the real message was that the “hot” investment marketplace was significantly skewed toward construction instead of diversified economic activity.
America has always been a market-driven economy. Booms and busts are part of the normal correcting cycle of supply and demand that has been thoroughly built into the American business enterprise. Perhaps it is more noticeable or identifiable on Wall Street but it is ever-present throughout our economy.
Perhaps the City of Cape Coral is in need of a sign for market naysayers. A sign that reads the glass really is more than half-full. The reality of the marketplace strongly favors a much more positive outlook. Conditions that look bad from one angle actually are extremely positive when viewed from a different perspective.
One of the first negative economic conditions often cited is the decreased value of homes in the marketplace. There has been an unprecedented amount of coverage about these conditions especially as it relates to foreclosures, lost tax revenues and similar changes. Although these aspects are true and understandably negative for many within the region, it has produced a positive side that is extremely advantageous for helping the economy to diversify more quickly. That positive side is better termed “affordable housing.”
The lack of affordable housing is at the heart of many decisions of companies to relocate business enterprises and their employees away from high-cost of living areas in order to better retain a work force for the foreseeable future. Imagine the potential long-term gains in Cape Coral and Southwest Florida from having a marketplace readjust so that housing becomes affordable to a wider range of workers. This demographic should be used as a carrot to attract more and more businesses to relocate to the City of Cape Coral.
Businesses need four walls and a roof as well. The commercial sector has also been hit hard and many of the newer buildings remain empty due to a lack of demand for available space. Many are citing this demographic as very problematic. In truth, most businesses looking to relocate into a new area want to be able to find a building that is already available for occupancy.
A lack of this availability hampered diversification and growth during the “boom” years.
Having a ready supply of commercial buildings available means that interested companies can plan on moving their enterprises within a time frame that easily fits their market conditions versus waiting for a site to be prepared and built from the ground up. A large variety of commercial sites also creates a competitive atmosphere. Like affordable housing, competitive lease rates help to insure a business-friendly environment for companies to relocate here to our sunny paradise.
Another often cited negative demographic is the rising unemployment rate. Although this has a negative trend for all those affected by the loss of a job, it is a very positive enticement to future employers who need assurances that they can hire quality people to run their businesses should they relocate to Cape Coral. Higher unemployment rates mean there is an available work force ready to be hired immediately. This also raises the opportunity for diversification of local industries. Likewise, companies that are growing and in need of relocation are probably involved in businesses that have sustainable infrastructures associated with the need to grow and move. This means more job security in the future for the entire region.
Cape Coral truly is the land of opportunity right now and it is also a wonderful place to live and raise a family. Let’s not forget the beauty of the local area and the amount of sunshine and fun that we enjoy all year round. Life really is good here and others can come see for themselves why so many of us choose to live, work and play in sunny Southwest Florida.
– Audie Lewis is the business recruitment specialist for the City of Cape Coral’s Economic Development Office. He is a retired Army officer and author of several business related books and publications and has been involved in business development and consulting locally, nationally and internationally.