Monday, Dec. 22, 2008

AIRCRAFT COMPONENT MANUFACTURER – An International manufacturer of aircraft components is considering building a U.S. facility in Florida, among other states. The manufacturer seeks to purchase or lease a 50,000-square-foot facility that can be expanded to 100,000 square feet. Airport property is not required, but easy access to the interstate system is essential. A final site selection decision is anticipated for late 2009, with an estimated operational time frame of late 2010 or early 2011. If you have or know of a facility that can meet these criteria, please e-mail the information to Rob Ehrhardt at Rehrhardt@co.volusia.fl.us or call at (386) 248-8048.

COUNTY COUNCIL APPROVES MANUFACTURER EXPANSION INCENTIVE – The Volusia County Council has approved an application for a performance-based tax refund incentive for the Ultimate Seat Company of Toronto to open a manufacturing facility in Volusia County. Ultimate manufactures customized motorcycle seats for a variety of production motorcycles. The County Council’s approval is part of a $36,000 grant in cooperation with the state. The incentive will be used to support the creation of up to 15 new jobs in the greater Ormond Beach area.

SMALL BUSINESSES DOMINATE ECONOMY – According to research released by the Small Business Administration, small firms represent 99.7 percent of all employer firms. They utilize about half of all private sector employees, pay nearly 45 percent of the total U.S. private payroll, have generated 60 to 80 percent of net new jobs annually over the last decade, create more than half of non-farm private gross domestic product, hire 40 percent of high tech workers, and produce 13 times more patents per employee than large patenting firms. Volusia County has more than 11,000 small businesses.

EXPORTER’S GUIDE TO GETTING PAID – U.S. Department of Commerce has published the second edition of the Trade Finance Guide, which is designed to help U.S. companies – especially small and medium-sized enterprises – learn the fundamentals of trade finance. As a quick reference guide for U.S. exporters, the guide provides general information about common techniques of export financing so companies can turn their export opportunities into sales and achieve the ultimate goal: getting paid on time for those sales. Visit www.ita.doc.gov/media/Publications to download a free copy of the guide. Need export assistance? Contact Paul Mitchell, Volusia County Department of Economic Development, at (386) 248-8048.

SEAT BELTS SAVE LIVES – In 2007, the use of seat belts in motor vehicles saved an estimated 15,147 lives. Seat belts have saved 76,936 lives from 2003 through 2007. In addition to the lives saved by seat belts, 2,788 lives were saved by frontal air bags, 1,784 lives were saved by motorcycle helmets, and 382 children age 4 and younger were saved by child restraints (e.g. child safety seats and lap/shoulder belts). An additional 5,024 lives would have been saved in 2007 if all unrestrained motor vehicle occupants involved in fatal crashes had worn their seat belts. If all motorcyclists had been helmeted, an additional 800 lives would have been saved. For more information: http://www.nhtsa.gov/staticfiles/DOT/NHTSA/NCSA/Content/RNotes/2008/811049r.pdf.

AMID THE BAILOUT, AN INVESTMENT – Entrepreneurs, mom and pop shops and homegrown businesses are finding that although current economic conditions afford them unique opportunities for expansion, they are not able obtain the needed capital at affordable terms. That’s why the SBA 504 loan is a natural fit for many businesses. Under the 504 program, the bank gets a 50-percent loan-to-value first lien position on the assets being purchased, cutting its risk in half. No other loan program (not a guarantee) offers this type of risk security to a lending partner. For more information on the SBA 504 loan program, contact Phil Ehlinger, Volusia County Department of Economic Development, at (386) 248-8048.

WHERE’S THE MONEY? – Based on the June 30 FDIC Summary of Deposits Report, there are 28 financial institutions operating in Volusia County in 165 different office locations. The total amount of their deposits is $8.2 billion. Leading this group is Wachovia Bank with 24.3 percent of the total amount of deposits followed by SunTrust with 20.1 percent, and Bank of America with 14.4 percent.

NEWS ITEMS WANTED! – Please send your business news items to Dave Byron, Volusia County Community Information Director, 123 W. Indiana Ave., DeLand, 32720-4612, by fax at (386) 822-5072 or by e-mail at dbyron@co.volusia.fl.us.