COMMERCIAL CONSTRUCTION
President, ARCO Design/Build, Jacksonville and Mobile
The primary economic issue facing the Northeast Florida commercial construction industry in 2025 will be navigating the conditions driven by post-election policy shifts.
At ARCO Design/Build, we are approaching 2025 with significant optimism. Both our new and repeat clients are bullish on the local market, as well as across the nation.
While we prefer to focus on Jacksonville, being able to execute projects coast-to-coast allows us to diversify our market pursuits.
We are fortunate to have built strong partnerships with capital groups and proven developers who are eager to invest in local industrial projects.
This product type is a reliable asset class providing strong returns.
We have a unique ability to build a comprehensive team to ensure a project is successful not only in its execution and delivery, but also in value and financial return.
This has been, and will continue to be, a key driver in our business.
FILM AND TV
Screenwriter; member, Writers Guild of America West, and the Mayor’s Advisory Commission on Television, Motion Picture & Commercial Production
The primary economic issue facing Jacksonville’s film and television industry is the lack of Florida economic incentives for producers to bring production to our state.
It’s the incentives, stupid.
If you were producing a film or TV project, would you choose to shoot in a location that offered no grants, rebates, or tax credits which would increase your budget by 30% or more? Of course not.
Even many films or TV series that appear to be set in Florida are shot in states with generous incentives like Georgia or Louisiana.
Our state is the only one in the Southeast that does not have an incentive program.
Even though the not-for-profit organization, Film Florida, promotes our state worldwide, without a significant impact on budgets, productions go elsewhere.
The Jacksonville Film & Television Office, led by Todd Roobin, offers some local incentive programs and grants.
But the lack of big budgets doesn’t stop inspired Jacksonville filmmakers who self-finance genre features and find economic returns through streaming services.
But until Florida baits the hook with competitive incentives, producers aren’t biting.
CIVIL ENGINEERING
Director of Site/Land Development, BGE Inc.
The primary economic issue facing the civil engineering industry will be navigating the economic challenges posed by the new state stormwater quality requirements that will be enforced by the end of 2025.
These regulations will impose stricter limits on nutrient discharge, particularly nitrogen and phosphorus, which are primary contributors to water pollution.
The regulations are designed to mitigate the adverse effects of stormwater runoff on wetlands, rivers and coastal water bodies.
Compliance with these requirements will have substantial economic implications for businesses, developers, and municipalities.
The costs associated with upgrading infrastructure, implementing best management practices, and ongoing maintenance can be significant.
To address these economic challenges, we are actively collaborating with the state regulatory agencies.
Our goal is to develop cost-effective strategies that align with the state’s nutrient removal requirements while minimizing the financial burden on our clients.
Through collaboration, innovation and strategic planning, we aim to ensure that our clients can successfully adapt to these changes and continue to thrive in a sustainable and compliant manner.
DOWNTOWN DEVELOPMENT
CEO, Gateway Jax
The primary economic issue facing Downtown development in general is sourcing construction financing.
Sourcing construction financing for new deals continues to be one of the biggest challenges for Downtown Jacksonville’s development activity, although the debt markets are beginning to thaw and are in better shape than at the end of 2023.
Jacksonville has strong economic and demographic fundamentals which has helped attract interest from those debt providers with capacity to lend to development deals.
Because of Gateway Jax’s relationships, the scale of our inaugural project, Pearl Square, and the holistic vision of mixed-use commercial real estate (and the value that brings to an urban environment), we are attracting interest from both debt and equity providers.
COMMUNITY DEVELOPMENT
Executive Director, LISC Jacksonville
The primary economic issue facing community development is the growing demand for access to capital, particularly in underserved markets.
LISC Jacksonville is going to be aggressive in 2025 in its efforts to provide capital primarily in the housing sector to get homes built in ZIP codes 32204, 32206, 32208, 32209 and 32211.
We are partnering with the United Way of Northeast Florida and making capital available to builders who have an interest in helping us fill some of the housing needs in our urban core.
Patrick L. Green, Bill Sorenson, Dawn Gilman, Rebecca Gonzalez and Harrison Conyers