- April 24, 2024
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The good news for Palm Coast and Flagler County continues.
Flagler County’s unemployment rate dropped to 9.5% for March, the first time the rate has slipped down to double-digits since June 2008, according to numbers released Friday by the Florida Department of Economic Opportunity.
The Palm Coast metropolitan statistical area now has 4,116 more people employed than it did at the low point in January 2010.
City officials say the improved unemployment figures and positive economic indicators are the result of a communitywide, diversified economic development strategy.
Beau Falgout, senior economic development planner for the city, said officials took the lead in diversifying the economic development efforts to help grow the economy.
“And, of course, credit must be given to our business owners and entrepreneurs who are working so hard to grow their businesses and further lower the unemployment rate by hiring more people,” Falgout said.
City officials have said they are growing the economy one job at a time, particularly with the Business Assistance Center. Other major initiatives include maintaining the quality of the neighborhoods, helping existing businesses and attracting new investment by offering events and attracting sports tournaments.
The drop is also because of existing businesses adding employees, officials said.
Tim Hale, managing partner of Coastal Cloud, said Tuesday that they have hired six employees over the last several weeks. Another 20 potential employees are enrolled in Coastal Cloud’s training and certification program.
All six new employees, as well as the 20 going through the training, are local, Hale said.
“We’re hiring because we’re getting good market demand for our technology consulting services, particulary around salesforce.com,” he added.
The end goal, Hale reiterated, is to hire 100 employees over the next 36 months.
“We’re making progress,” he said. “Realistically, I’m not sure (how much) of an impact we’re making. What I hope is we are making more of an impact going forward. I’m just happy to be a part of the whole turnaround for our economy.”
Designs for Health, a Falgler-based nutritional supplements distributor, opened in March 2012 with three employees. Now they are at 14 employees with plans to hire three to six more this year, said Frank Rizzo, vice president of operations of the company. All of those employees, except for Rizzo, are local.
Palm Coast Mayor Jon Netts said the new numbers released continue to be good news.
“These numbers show a sustained positive trend that, along with other indicators (rising taxable sales, decreasing foreclosures and an increase in housing starts) point to a bright future in Palm Coast,” he said. “Our local economy is moving in the right direction.”
While the news is promising, officials said work still needs to be done. Flagler County continues to have the second highest unemployment in the state (Hendry County was at 10% for March).
The good unemployment news came at the state level, too. The unemployment rate for March stood at 7.5% — 0.3% drop from February, and Florida’s lowest rate since October 2008, when it was 7.4%.
Florida has produced positive annual job growth for 32 consecutive months, according to a statewide release, and the state unemployment rate has declined year-over-year for 29 consecutive months.
