by David Chapman
Staff Writer
Homeownership comes in many forms.
Some grew up in the area and become first-time homebuyers. Others save and opt for homeownership over renting. Still others relocate to the Jacksonville area for various reasons. That’s where local economic development officials come in.
Before a business owner packs up and relocates, plenty of research is conducted. They don’t just throw darts at a map while blindfolded to decide where to relocate their business and employees. Instead, there’s a group of individuals and organizations dedicated to building relationships that help guide that dart to Northeast Florida.
“Economic development does affect home ownership,” said Jerry Mallot, executive director of Cornerstone, the economic development arm of the Jacksonville Regional Chamber of Commerce.
Each day Mallot and his staff extol the virtues of the area and build relationships with business clients who might have an interest in coming to Northeast Florida. Mallot currently uses a “broad based marketing effort” that focuses on seven different target industries: advanced manufacturing, aviation and aerospace, distribution and logistics, finance and insurance services, life sciences, information technology and headquarters relocation.
Even in a recession, it’s a strategy that appears to be working.
When Deutsche Bank, a high-profile global investment bank, opened a 1,000-job finance operations center in Jacksonville last year, Cathy Chambers, Cornerstone vice president of business development, made the trip to New Jersey to do what many realtors do on a daily basis: answer any and all questions about the region and give a presentation telling relocation candidates about the area.
At the time, she met 75 such candidates and their line of questions was similar to those on past occasions when talking about Northeast Florida.
“One of the first things they always ask is about hurricanes,” said Chambers. “Another big one is the affordability of the area and ‘What can I afford?’”
The ones that are leaning toward relocating often visit for a first person experience of the area and its features, something Chamber officials heavily emphasize.
“Their first impression is especially crucial,” said Chambers.
More often than not, the impression is favorable.
“People are always impressed by the quality of life and weather,” said Mallot. “People like to live in a nice climate.”
Chambers agreed that location was a favorable factor as well as real estate prices and affordable labor costs.
Cornerstone officials aren’t the only ones working to bring new people to the area. The Jacksonville Economic Development Commission works closely with the Chamber and has a similar mission of increasing the overall quality of life for the area.
“We’re always identifying new and potential future projects,” said Ron Barton, executive director of the JEDC. “Development opportunities the City is involved with, we work with projects like the private sector ... Our agency is the closest to what the private sector does.”
Much like the housing market has been affected by the down economy, Barton said the downturn has forced the JEDC to take a different approach in how development opportunities are pursued.
“One of the things we believe in is that ‘you can only control what you can control,’” said Barton.
Infrastructure and long-term projects, he noted, are current things that create jobs, add to the overall quality of life and help position the region to achieve success sooner when the market turns.
Much like the attitude of realtors and builders, there is no quit when the economy gets down. Instead, Barton and JEDC officials are still on the trail and hunting for new clients while staying engaged with ones they know will potentially move once a rebound happens.
“There’s no hunkering down or hiding,” said Barton.
While each relocation or job creation opportunity might or might not bring hundreds of potential new clients for realtors, the work of agencies like Cornerstone and the JEDC trickles down and benefits the region.
“When companies move or relocate, they do more than just bring in and hire new people. They also tend to recruit specialists from outside the area,” explained Mallot, “meaning more people come to Jacksonville.”
While new people moving to the area to fill newly created jobs can seem optimal, people within the region filling those jobs is a big win, explained Mallot. That trickle down effect means better opportunities for potential homeowners — and those looking for better homes.
The competition has risen, though, as it’s not just the Tampas, Charlottes and Atlantas of the Southeast that Jacksonville economic officials are competing against.
“Competition isn’t like it used to be,” said Barton, referring to outsourcing and outplacement. “Now everyone in the world is competition.”
A little competition isn’t scaring them away, though, said Barton.
“Like realtors and builders, we’re doing everything we can in a slow market we can control to improve the region,” he said.
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