INVESTOR NEWSLETTER - FEBRUARY 2009
Our 2009 Cornerstone Volunteer Team
Cornerstone Volunteers provide the region's private sector leadership that is critical to our economic development success. I am excited to serve as Cornerstone Chair this year with such a dynamic and creative group of volunteers and I applaud their efforts on behalf of Cornerstone.
The 2009 Cornerstone Volunteer Team:
- Keith Tickell, Flagler Development Group, Cornerstone Vice Chair
- Derrick Smith, CSX, Business Recruitment Chair
- Ali Korman, Stellar, Business Recruitment Vice Chair
- Scott Keith, BB&T, Existing Business Chair
- Rick Morales, Morales Construction, Inc., Existing Business Vice Chair
- George Gabel, Holland & Knight, International Chair
- John Lafond, Deutsche Bank, International Vice Chair
Mortgage Company Outperforms the Industry
American Home Mortgage Servicing Inc. (AHMSI), a loan service company, is bucking the trends and growing during these challenging economic times. Last week, AHMSI celebrated the grand opening of its new and larger Jacksonville office to accommodate its growing staff, which added 250 employees.
AHMSI, headquartered in Dallas, Texas, has an operations center in Jacksonville that is outperforming the industry trends. According to Jim Davis, vice president of AHMSI, at the beginning of February 2009 the company was servicing about 400,000 loans and it expected that number to go up by 180,000 loans by mid-February through an acquisition.
Retired Vice Chairman of Morgan Stanley to Speak at Cornerstone Luncheon
Mark your calendar for the first Cornerstone luncheon of the year, March 24 at the Hyatt Riverfront. We are excited to announce that Margaret Black-Scott, immediate-past managing director and vice chairman of Morgan Stanley's Global Wealth Management Group, will be the keynote speaker for this luncheon. She will be discussing current economic issues we face and how our region will meet these challenges.
Ticket prices for this event are - Cornerstone Investors: $40 Per Person/$400 Corporate Table of 10; Chamber Members: $55 Per Person/$550 Corporate Table of 10; Non-Chamber Members: $65 Per Person/$650 Corporate Table of 10. Please R.S.V.P. by Monday, March 16 to Kelly.Gerlach@myjaxchamber.com or call 366-6600, ext. 7601.
First Coast to get Reality Check on Growth
Reality Check First Coast is a visioning exercise designed to discuss, analyze and develop alternative growth scenarios for our region through the year 2060. Scheduled for May 21, 2009, this exercise is designed to raise awareness of projected levels of region-wide growth and to lay the foundation for the development of a concrete list of next steps to meet the region’s future job, housing, transportation, infrastructure and recreation needs.
It is estimated that by the year 2060, 1.6 million additional people will be living in Northeast Florida, requiring the addition of new jobs and housing to accommodate this growth. At the Reality Check event, regional leaders will be challenged to rethink where and how to grow the First Coast in a way that adds value to the local economy, while preserving our environment and quality of life. We encourage you to consider getting involved in Reality Check. Log on to www.realitycheckfirstcoast.com to find out more.
Logistics - A Cornerstone Target Industry
The Cornerstone Regional Development Partnership targets seven key industries - Logistics, Aviation, Life Sciences, Finance and Insurance Services, IT, Advanced Manufacturing and Headquarters. Throughout 2009 we will focus on each of these industries in this newsletter. This month's target industry is Logistics.
Jacksonville has quickly become one of the nation's foremost locations for logistics companies. Because of our location as the western most city on the Eastern Seaboard we have direct access to almost 50 million consumers in the Southeast. Our rail, air, port and road capabilities make us a leading international center for trade and logistics.
Distribution center activity is at an all-time high for our region as a result of commitments by Mitsui O.S.K. Lines and Hanjin to provide direct shipping service between Asia and Jacksonville, which will triple the container throughput at JAXPORT. Several companies have recently expanded distribution operations in Jacksonville, including PSS World Medical, COACH, Sears, Samsonite, Georgia Pacific and ICS Logistics. New distribution center projects are under construction by Unilever, Millard Refrigerated Services, Cadbury Schweppes and Volkswagen of America. Another five million square feet of speculative space is being planned by developers to meet the new demand being created at JAXPORT.
With the help of our seven-county partners, WorkSource, the Jacksonville Economic Development Commission, JAXPORT, JAA, JEA and JTA, Cornerstone continues to work diligently in its efforts to position Jacksonville as one of the major logistics hubs of the world. For more information on our logistics industry, contact Mike Breen, director of the international department, at (904) 366-6682 or michael.breen@jacksonvillechamber.org.
JAX Earns Top Ranking for Overall Customer Service
Congratulations to Jacksonville International Airport (JAX) for receiving recognition for its recent terminal and concourse improvements over the last few years. Jacksonville International Airport (JAX) earned the top ranking for overall customer satisfaction in the Airports Council International – North America quarterly survey of 26 North American airports. The survey was conducted by an independent third-party firm, the ACI-NA, who surveys passengers and airport visitors on a variety of areas including parking, security, airline check-in, shopping and dining facilities and restrooms.
Sincerely,
Greg Smith
Cornerstone Chair
Jacksonville and Northeast Florida President, Bank of America
Baker, Clay, Duval, Flagler, Nassau, Putnam and St. Johns Counties
3 Independent Drive • Jacksonville Fl 32202 • 904.366.6639
bizrelo@jacksonvillechamber.org • www.expandinjax.com
Where the Future Leads®