On the Economic Scene

VOLUSIA COUNTY QUARTERLY ECONOMIC BRIEFING COMING NOVEMBER 8th – The next quarterly economic development briefing from the Volusia County Economic Development Division will be held at 7:45 a.m. Friday, Nov. 8, in the Dennis R. McGee Room at Daytona Beach International Airport. These free quarterly community briefings, known as “Q” meetings, present the most recent economic indicators and trends that impact our county. This quarter’s briefing will feature an update on countywide municipal economic development by E.D. Practitioner Council Chairperson Nick Conte. Don’t miss this opportunity to become aware of important economic facts, share ideas and network with others. Reservations are not required. For information, call 386-248-8048.

SCORE LIVE WEBINAR: ACCESS TO CAPITAL 101 – There are numerous funding options available for small businesses, but which one is right for your business? SCORE’s upcoming live webinar, Access to Capital 101: Funding Options to Start & Grow Your Business, can help. It will be held at 1 p.m. Oct. 24. Attend this insightful webinar, presented by Lindsey Vigoda with Small Business Majority, for a discussion of the options available to get small business funding. Topics will include key questions to consider when seeking funding; how to determine the best option for your small business; helpful tools and resources; and an overview of alternative lending options such as microloans, SBA loan guarantees and community banks. Register to attend at SCORE's website.

PUBLIC HEARING SET FOR VOLUSIA, FLAGLER TRANSPORTATION PROJECTS OCT. 21-25 – Road construction projects are among the priorities comprising the Florida Department of Transportation’s (FDOT) District Five tentative five-year work program. FDOT will have a virtual public hearing from Oct. 21 through 25 on all its tentative projects scheduled from 2020-21 through 2024-25. The public can provide input on funding for roads, bus transit, bike trails, sidewalks, and other FDOT plans and projects at the virtual public hearings all this week. For those preferring a traditional face-to-face approach, staff will be available from 4:30 to 6:30 p.m. Thursday, Oct. 24, in the FDOT District Five office at 719 S. Woodland Blvd., DeLand.

2020 COMMERCIAL REAL ESTATE OUTLOOK – From Deloitte.com Insights comes its 2020 outlook on the evolving challenges and opportunities faced by the commercial real estate (CRE) industry. This past summer, 750 CRE executives were surveyed in 10 countries. They learned tenant preferences are changing due to increasing urbanization and globalization, changing workforce demands such as flexible location and workspaces, and technology advancements such as Artificial Intelligence (AI) and the Internet of Things (IoT). The tenant experience was rated a top priority, but most respondents did not already possess it as a core business competency. IoT and AI were also found to lower costs and raise operational efficiencies. Extending services to end users was considered important, and technology was a key consideration. Examples include greater usage of mobile apps along with smart building features such as smart lighting, smart mirrors and energy plugs. Access to the full 2020 Deloitte report can be found online.

ACADEMY OF INTERNATIONAL, POLITICAL AND BUSINESS RELATIONS – The academy at Mainland High School prepares students to successfully participate in the 21st century global society as leaders at home or abroad. The divisions of this academy include law and government, language flagship and international relations, and business and entrepreneurship. Community services and America’s Future Leaders are an integral component of this academy. Contact Academy Director Dan Lundy.

DELAND SPORT AVIATION SHOWCASE, NOV. 14-16 – The DeLand Sport Aviation Showcase is a three-day event focused entirely on recreational flying and sport aviation. The showcase welcomes aviation enthusiasts of all ages and will be held at the DeLand Municipal Airport. The showcase, now in its fourth year, is designed to promote and support recreational flying, highlight the latest in sport aviation products, and provide buyers and sellers with opportunities to connect. More than 100 exhibitors will feature all manner of sport aircraft, ultralights, trikes, rotorcraft, powered parachutes and paragliders, engines, avionics, pilot gear and flight schools. Enjoy demo flights, interactive workshops, educational forums, keynote speakers, food concessions, live music, underwing camping, pre-owned aircraft sales and more.

PREPARING FOR BUSINESS WITH UNFORESEEN PARTNERS – When structuring partnership, shareholder and operating agreements, business owners should try to address every reasonably conceivable situation. What often goes overlooked, however, are the effects on the business of divorce, dementia or death – and the possible involvement of a surviving spouse, ex-spouse or heirs. Situations can vary. It can be one of two or more business partners getting divorced or married; a couple who are business partners in what becomes a successful enterprise, and later divorce; or a business partner whose heirs assume ownership after his death. Whether before a business is formed or after it is operational, business owners should proactively consider the need to have key legal documents filed to ensure a smoother ownership transition when unforeseen events occur. For more on this important matter, go to Florida Trend.

NEWS ITEMS WANTED! – Please send your business news items to Joanne Magley, Volusia County Information Director, at jmagley@volusia.org.