I suppose it could be easy to underestimate or even overlook the recent announcement by Jacksonville Mayor John Peyton that the Bank of America plans to add 1,000 new jobs to its Southside campus out near the Avenues Mall.
The mayor dropped the news at the the Jacksonville Regional Chamber of Commerce’s quarterly Cornerstone meeting, but there’s been no word officially from the bank, which is standard company policy.
While some may yawn that these are back office kind of jobs, which means they want be “high pay,” we should remember that there is a large pool of qualified workers in Jacksonville who are out of work and will most likely view the expansion as a welcomed opportunity.
And, as many local companies continue to struggle and hold on by their fingertips, any economic announcement that holds out hope and shows confidence in Jacksonville is very welcomed news in my mind.
As we close out 2010 and have 2011 in view, I wonder if we have any sense that this year was better than last ... and if there is any optimism out there that next year will be an improvement over this one.
Much of the evidence indicates that 2010 was better than 2009. Our inflation rate is lower than most of the country; in addition to the recent announcement of BOA jobs set for 2010, we had great announcements this year:
• Deutsche Bank is creating 1,000 jobs.
• Mitsui O.S.K. that it will add 1,800 jobs to this area and create another 4,000 spinoff jobs.
• Add to that the announcement that Boeing will be hiring a lot of new workers at Cecil Field to build the C-27J Spartan Joint Cargo Aircraft.
It’s easy to see why Jacksonville can be envied by much of the nation.
The good news for us is that all of the new jobs equal people needing places to live...and they are making enough money to afford to purchase homes. Even as the foreclosure mess continues to haunt us, the fact is that with interest rates as low as they are now, people with jobs and documented wages, a 10 per cent down payment and a reasonable credit score can secure a mortgage.
(And, in case you didn’t notice, home prices increased in Northeast Florida this year, something caused in part because our inventory of unsold homes is on the decrease).
I, for one, always try to look at the glass as half full. I’m one of those guys who always believed it when his dad said there is a pony buried somewhere in that pile of horse manure. But I also understand and recognize that the pain of this recession continue to hurt a lot of people.
I do think that as we close out 2010, we need to do so knowing that Northeast Florida, with all of our great assets, is positioned for recovery, provided we have leadership fueled by passion and the people who live here continue to hold onto their values and cling to hope for the future.
Until a more prosperous 2011, I hope each of you has a wonderful and safe holiday season.
— Jim Bailey is president of Bailey Publishing & Communications and publisher of Realty/Builder Connection.