With the economy booming and unemployment at 3.8 percent in August, here's a brief look at the past 27 years. The area follows national trends as well as regional influences.
1980s-early 1990s: Mayor Jake Godbold’s incentives to call centers stimulates thousands of jobs.
1987-91: Mayor Tommy Hazouri creates new economic development landscape by eliminating tolls and odor.
July 1990-March 1991: Recession. The federal funds rate reaches 8 percent.
1993: The dot-com boom; Gulf War spikes oil prices.
Feb. 1995-July 2001: Unemployment below 4 percent for six years.
Nov. 1998: Federal funds rate lowered to 4.75 percent.
2000: Voters approve Mayor John Delaney’s 10-year, $2.2 billion Better Jacksonville Plan for infrastructure improvements.
March 2000: Dot-com bubble peaks and Nasdaq crashes.
March-Nov. 2001: U.S. in recession
May 2001: Federal funds rate reaches 6.5 percent.
Sept. 2001: 9/11 terror attack.
2001-06: Housing boom. Consumers assume large debts.
2005: Super Bowl XXXIX in Jacksonville boosts city image during strong economy.
April 2005-July 2007: Unemployment rate below 4 percent.
2005: St. Johns Town Center development begins, generating hundreds of jobs.
2007: Housing bubble pops, dropping home prices and consumer wealth.
2008: Federal funds rate lowered to 0.25 percent to stimulate economy.
June 2009-March 2011: Unemployment rate tops 10 percent (peaking at 11 percent for 3 months in 2010) National average is 10 percent.
2007-09: The Great Recession, widespread foreclosures and subprime mortgage crisis; effects continue for years.
July 2017: Unemployment below 4 percent.
St. Johns Town Center market adds more stores and restaurants.
Amazon.com opens two fulfillment centers, adding at least 2,500 jobs. CitiBank, Deutche Bank, Cecil Commerce Center and hospital expansions drive economic progress.