Business

Business news

briefcase
J. Mark Bertrand via Flickr

The local, state and federal governments are looking to do business with more women, minorities and veterans.

Several agencies are hoping to meet with business owners on Tuesday at the University of North Florida.


shoppers in Fresh Market produce section
The Fresh Market

Jacksonville’s favorite supermarket could be facing some new competition.

Publix could have a fight on its hands after a private equity fund announced it is buying The Fresh Market. That grocery chain has 40 stores in Florida, including four in Jacksonville.

The fund making the acquisition, called Apollo Management Group, plans on making Fresh Market more competitive by lowering prices. That could put it on a collision course with Publix.

Ryan Benk / WJCT News

The University of Florida and University of Georgia’s football rivalry will stay in Jacksonville for at least another five years, city officials announced Wednesday.

Mayor Lenny Curry says a deal to extend the city’s contract to host the Florida-Georgia game was on life support before his election.

“What my team did on this issue is what my team has done on every issue since we’ve taken office: We got to work on it. So many people in this room that immediately jumped on the case — we are about solving problems, creating opportunities and getting things done.”

bridge
Destination Bristol

Jacksonville has a new partner when it comes to attracting tourists.

Bristol, England, is more than 4,000 miles away from Jacksonville, but tourism officials think that the two cities may be able to work together.

John Burr

Editor's note: This article has been updated from its original version.

After 35 years, the founders of Northeast Florida’s Fisherman’s Dock Seafood Market retired last week.

In this “Business Brief,” analyst John Burr visits the newly retired couple, Ben and Louanne Williams, on their farm in Palatka.

He told News Director Jessica Palombo what the Williamses learned from decades of owning a small business.

CSX train
Nate Beal / Wikimedia Commons

One of Jacksonville’s largest companies is still expecting a bad first quarter, but not as bad as it first thought.

CSX Corporation said this week  its first quarter earnings would decline by the mid- single digits, rather than the high single digits it had previously forecast.

So far this year, its volume growth is down by about 5 percent. Like the rest of the industry, CSX has been battered by a big decline in the amount of coal being shipped.

Ryan Benk / WJCT News

Florida Governor Rick Scott spent Monday morning in Jacksonville celebrating the expansion of a financial tech firm that’s adding 250 people to its staff.

The deal was closed with the help of state and local economic incentives.


Business Brief: 'Corporate Welfare' Or 'Pay To Play'?

Mar 7, 2016
John Burr

Tax breaks and other incentives are credited for clinching a deal that’s bringing 450-new financial-services jobs to Jacksonville.

In this week’s “Business Brief,” analyst John Burr tells News Director Jessica Palombo, the city says, what’s sometimes derided as ‘corporate welfare’ is necessary for economic development.


Ryan Benk / WJCT News

Financial services company Ernst & Young is planning to hire more than 400 people in Jacksonville with an average salary of $49,000.

Mayor Lenny Curry announced Thursday the company is opening a service center in the city with the help of city and state tax incentives.

But the deal was close to unraveling.


Fidelity logo
SEC

A Jacksonville community bank is no more after the closing of a merger with an Atlanta Bank.

American Enterprise Bank of Florida has been subsumed into Atlanta-based Fidelity Southern Corp., the conclusion of a $27 million deal.

Fidelity Southern has been focusing on expanding in Florida for a while, making other Sunshine State acquisitions in 2014 and 2015.

With the American Enterprise deal, Fidelity Southern picked up about $177 million in deposits.

Hawkers Asian Street Fare

A popular Five Points eatery is now planning its second location in Northeast Florida.

Hawkers Asian Street Fare opened in Riverside two years ago. Now, it’s heading to the beach.

The restaurant’s second location is planned for Neptune Beach, with the site already under construction.

It will be the fourth location for the chain, which has an operation in Orlando and another opening soon in St. Petersburg.

cargo containers at JAXPORT
Roy Crumpler / JAXPORT

The Coast Guard hearing on the sinking of the El Faro cargo ship wrapped up in Jacksonville on Friday. It was the first hearing of its kind to be streamed live on the Internet.

In this week’s Business Brief, analyst John Burr tells News Director Jessica Palombo, the shipping industry is making voluntary changes because of the live broadcast. 

The Jacksonville Landing

This Wednesday, the Jacksonville Landing’s front steps will transform into a “front porch” during the downtown's monthly evening Art Walk.

The Landing is packing the space with 23 vendors, a full bar, games and art tents.

The pop-up party is part of a national movement called “tactical urbanism.”


Crystal River plant exterior
Duke Energy

Florida's two largest utility companies are facing what could become a class action lawsuit challenging around $2 billion their customers have paid toward nuclear projects. 

Florida lawmakers approved the Nuclear Cost Recovery Act in 2006, allowing higher rates to cover the construction of nuclear plants. 

But the lawsuit filed Feb. 22 in Miami federal court claims hundreds of millions of dollars were collected even though some of those plants were never completed.

balcony in Nassau
TravelingOtter via Flickr

Travelers will soon be able to head to a new exotic location from Jacksonville. Silver Airways said Thursday it’s starting nonstop service to the Bahamas in May.


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