Great News about Florida Surmounts Oil Spill Issues

Published by nora | Filed under Buyer / Seller Tips, Communities, Market Trends, Miscellaneous, Real Estate, Shout Outs

Much of the noise about Florida now in the mass media is about the Gulf Coast oil spill and its effects on everything from fishers and homeowners to top BP executives invading beachfront hotels.

Even so, there are a lot of recent and current developments showing the continued confidence of people and companies in the ability of Florida to rise above its current challenges.

Companies Investing or Expanding in Florida

Companies have continued to pursue their expansion projects in Florida despite negative developments affecting the state such as the oil spill and continued commercial and residential foreclosures.

Walt Disney, for instance, has announced its intention to pursue its plan of building 450 luxury homes on 980 acres at Walt Disney World. The homes will be sold in the range of $1.5 million to $8 million, with the first 30 units completed before 2011 ends. Building luxury homes at a time house prices have plunged by more than half seems to be a folly, but Disney has gambled before in real estate and eventually succeeded. The growth of its Celebration residential development into over 6,000 houses priced between $185,000 and $4 million is a clear testament to its tenacity and confidence in Florida.

Another is the plan of the International Green Energy Council to work with Florida Tech to develop green technologies that could be commercialized. A seed fund of $25 million has already been set aside to build a research facility called Florida Institute of Technology Research Science and Technology Park at the Melbourne International Airport.

The research facility would include up to ten buildings and is expected to create around 6,000 jobs. Among the technologies already being evaluated are a method to protect estuaries from the BP oil spill and a ten-story tower that could generate power from lightning, the sun and the wind.

Space Florida is also investing to help create jobs. It has agreed to spend $500,000 to buy a prototype of the energy-efficient sports car being developed by Brevard-based Avera Motors, a company expecting to employ over 1,100 people when manufacturing of the ultra-efficient car starts.

Funding for Florida from Private and Public Sources

In addition to the millions already received by Florida from the federal government to help its troubled homeowners get back on their feet, the state is still receiving financial help from various sources to help residents overcome current difficulties.

Florida got a total of $3.46 million to finance more on-the-job trainings and to help employers create more job opportunities. The funding is part of a $75-million program created to help 41 states and three Native American tribes.

Bank of America has also started doing its part to help communities in Florida. It has granted a total of $1.5 billion to the Tampa Bay area to jumpstart various community projects.

Indeed, Florida has plenty to rejoice and be confident about despite challenges.

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