Booming: Business tax receipts triple in two years

Palm Coast Observer
News

Palm Coast’s economy continues to grow: During the month of October, the number of business tax receipts for new businesses was more than three times the number of receipts issued in October 2011, according to numbers provided by the city.

There were 17 new business tax receipts issued in October 2011. In October 2014, there were 45.

“It’s busy,” said Joe Roy, area manager of the Palm Coast Business Assistance Center. “We go through a slow period at the end of the year with the holidays, but in terms of the time we spend with individual businesses, it’s significantly more time, which tells me that we’re seeing more than just startup businesses.”

Just Train Fitness, a health facility in the City Marketplace, was one of the businesses that opened up in October. And owners Alan Griner and Rae Ann Lourenco utilized the Business Assistance Center to get started.

Roy said the BAC helped Griner and Laurenco get set up and organize business plans, as well as analyze initial cash flows.

“Buying equipment and basically looking at his services: what he was selling, memberships and helping build budgets,” Roy said.

“(It) helped us to focus on the critical parts of our business,” Griner said in a statement. “The BAC’s help in developing our business plans and strategies saved us time and money.”

In general, Roy said, things are looking up throughout Palm Coast and Flagler County.

Flagler’s unemployment rate fell to 9.4% in October, according to numbers released last week by the Florida Department of Economic Opportunity. Palm Coast’s rate also stood at 9.4%.

“There are more people out there working, which is indicative of more businesses trying to start up and more businesses coming here,” Roy said.

Over the past eight months, Roy said, women entrepreneurs represent 60% of the clients that the Palm Coast Business Assistance Center works with. This is another good trend, Roy said.

“As long as consumers feel good about the economy and have some disposable income, then I think we’ll continue to see jobs being added,” he said.