Economic forecast: Residential real estate, banking, entertainment, tourism and logistics | Jax Daily Record | Jacksonville Daily Record

Primary issue: Affordable and attainable housing.

Expansion of current affordable housing initiatives for both purchase and rentals, as well as the development of new programs, has been on the forefront of Florida Realtors in conversations with our legislators for many years.

This year they voted to permanently sweep 50% of the Sadowski Trust Funds, which was created solely for the purpose of funding affordable housing initiatives. We look forward to the legislative promise of developing additional opportunities for funding Affordable/Attainable Housing Funds in the near future.

BANKING

Mark K. Bennett

Southeast Region Executive, President, Bank of America Jacksonville

Primary issue: Growth. Our industry must ensure access to the capital, advice, and products and services that enable all our communities to participate in and benefit from the region’s growth.

Bank of America is passionate about connecting all of our financial solutions to tailor support for customers and clients so they achieve each one of their personal and financial goals. This brings the resources of a global financial institution like Bank of America and Merrill to the people, businesses and institutions of the Jacksonville region, both via digital and in-person channels.

 Whether you need a mortgage for your home; capital to start or expand a business; advice and solutions for investing for retirement; a checking account or credit card; Bank of America and Merrill will tailor support to help ensure we do our part to responsibly fuel economic growth.

We remain committed to addressing local economic mobility challenges with a focus on needs such as affordable housing, homelessness, career readiness and basic human needs. 

ENTERTAINMENT

Numa Saisselin

President, Florida Theatre Performing Arts Center Inc.

Primary issue: Attendance. Some demographics are comfortable being in an audience again, but not everyone.

The Florida Theatre is in the business of congregating people.

We can’t willfully be closed and just watch our business die, so as long as we can be open, we will be open.

We have more than 100 shows on sale right now.

Our strategy is to keep offering our product, and make it as good as it always was, and uncertain audiences will eventually find their way back.

We cannot prioritize public health over the economy or vice versa. We have to prioritize both.

Our own objective has been to find that balance within our own operation. One thing I hope comes out of the pandemic is a renewed appreciation for how important live in-person arts and entertainment is to our lives here in Northeast Florida.

TOURISM

Michael Corrigan

President and CEO, Visit Jacksonville

Primary issue: The unknown time frame of when business travel and meetings/convention business will return to pre-pandemic levels.

Visit Jacksonville is working to keep Jacksonville top of mind for those planning travel.

While we can’t impact business traveler regulations put in place by individual companies, we can make sure that those meeting planners arranging future conventions are thinking of Jacksonville.

We have put together incentive and grant programs for groups of all sizes to encourage future bookings in Jacksonville. We are traveling to trade shows and conventions to meet potential new business planners.

We have searched and found new events to help fill the gaps that our convention hotels currently are handling.

We have seen business booking for future years, especially 2023 and beyond, and we are encouraged by the resiliency our industry already has shown.

LOGISTICS

Jesus Garay

Owner and CEO, Global Freight & Commerce

Primary issue: Human capacity.

Human capacity is the number of Class A CDL holders on the ground, actively pursuing a CDL, and the aging population of our driver pool, which is 54.

Young people are not as attracted to driving trucks as their parents and grandparents were and I don’t blame them.

It looks like everyone can make money on Instagram or as a social media influencer or work remotely from the comfort of their living room. I explain that AI (artificial intelligence) can and will wipe out millions of jobs.

Driving trucks has a full 30- to 40-year lifespan until we see the technology and infrastructure capable of sustaining autonomous trucks.

Trucks will always have a place for actual humans and there is no evidence to suggest otherwise.

I have 20-something-year-old drivers making $1,700-$2,000 per week driving trucks so if that motivates you come see me.