Rays’ Sights Set on Game 5

Rays’ Sights Set on Game 5

Writer: Max Crampton-Thomas

2 min read October 2019 — Tampa Bay can be called a lot of things: a tech hub, a thriving economic ecosystem, an arts and culture destination. After last night’s 4-1 win over the Houston Astros, let’s add the true epicenter of baseball in the state of Florida. Now only one win away from advancing to the American League Championship Series, the Tampa Bay Rays are looking to capitalize on the momentum of this successful season. 

Before the 2019 season began, expectations were tempered. The Rays entered the season with the second-worst fan attendance in Major League Baseball, the lowest player payroll at about $60 million and having not reached the postseason since 2013 when they lost to the Boston Red Sox in the American League Division Series. These factors coupled with the ongoing trouble of finding the right location in the Tampa Bay region for their new stadium, left most fans wondering what this season might hold in store. 

It was not all bad though, as there were quite a few positives entering the season, including having three Rays players listed among Sports Illustrated’s Top 100 MLB players of 2019. These players were Blake Snell, Charlie Morton and Tommy Pham, who had the first home run of the game against the Astros last night. Even with the uncertainty swirling around their future home in the region, there was a shared desire expressed by the team to keep Tampa Bay their base for the long term. Brian Auld, the club’s president, expressed this desire to Invest: when he spoke with us earlier in the season. “We’ve been forthright with the community that we want to be here in Tampa Bay for generations to come. That’s the most important thing to us at this moment. It’s also what keeps me up at night because in order to make that happen we will need a new facility,” Auld told Invest:. He continued: “Tropicana Field is among the oldest facilities in all of Major League Baseball, especially without major renovations. We have to figure out where we can put a new ballpark and how we’re going to fund it in such a way that our attendance increases and we become more of a sustainable enterprise.”

Fast forward to the end of the regular season, and the Rays would finish with a record 96 wins against 66 losses. This would be enough to propel them into the Wild Card game against the Oakland Athletics at the A’s home field. The game itself scored record-setting attendance for a wild card game with over 54,000 people. The Rays would ultimately parlay their success from the regular season into a dominant 6-1 win over the A’s. 

After last night, the series against the Astros, who are only two years removed from winning the 2017 World Series, is tied 2-2. While this series started with the Rays giving up the first two games to the Astros, they have swung the momentum and are coming off back-to-back wins to even the series. Sights are now set on a winner take all Game 5 to be played on Oct. 10. The winner of this series will face the New York Yankees in the American League Championship Series. 

No matter the outcome, this is a season that the Tampa Bay Rays can look back on with pride. They have not only exceeded expectations and provided a glimpse into what promises to be a great future, but have also brought excitement back to baseball in Florida. 

To learn more about our interviewee, visit:

https://www.mlb.com/rays

Spotlight On: Kevin Rogers, Regional President, Seaside National Bank & Trust

Spotlight On: Kevin Rogers, Regional President, Seaside National Bank & Trust

By Max Crampton-Thomas

2 min read October 2019 — Seaside National Bank & Trust may be considered a newer entry into the market, having first opened its doors in 2006, but since then it has become a prominent force in the banking community. Invest: Greater Fort Lauderdale recently spoke with Kevin Rogers, the regional president of Seaside National Bank & Trust’s South Florida operations. During the discussion, he spoke on the importance of cybersecurity to a bank like Seaside, how Seaside handles the challenge of competition in South Florida and his approach to finding the right employee candidates. 

How are you protecting your clients in regards to cybersecurity? 

Cybersecurity is a huge topic, not only at our bank, but also across the financial services industry. We tell our people all the time that we’re a small bank, and if we took a $2 million to $3 million hit it would substantially hurt us. Our people are on guard every minute. We have an incredible onboarding process, and we not only know who we’re banking with, but we also know who are clients are dealing with as well. If you ask what keeps me up at night more so than hitting balance sheet goals, it’s cybersecurity and being hit with a loss.

The amount of money that the bank spends on cybersecurity is incredible, but you have to stay ahead of the game. We conduct a lot of training on the subject. I even do a communication call twice a month with our South Florida employees, and one of the main topics is cybersecurity. We want to make sure that everybody is on guard, that they know who their clients are and that they’re asking the right questions. You have to ask the tough questions to make sure you protect the bank.

 

What is the biggest challenge in the market for a small to midsize bank like Seaside, and how do you overcome it?

I think the biggest challenge is always going to be the competition. Banks of our size do not have the brand recognition that a Bank of America does, so the question is how do we sell Seaside Bank? We have to go out and talk to our clients about who we are and what we specialize in. We drive home the fact that we are able to provide the same products and services that the big banks do but in a community bank setting. We’ve taken a lot of clients away from these big banks. If you look at what’s going on in the big banks right now, it’s all about sales process management and managing their people to numbers that, a lot of the time, mean selling products and services that the clients really don’t need. We don’t subscribe to this notion and instead focus more on listening to our clients and making sure that they get what they want and need. We’re not for everybody; there will never be a time when you’ll see a Seaside branch on every street corner like you do Bank of America. If a customer is looking for that then we’re not the bank for them. If they’re looking for a single point of contact to deal with on a consistent basis then we are a perfect bank for them.

 

How difficult is it to find professional, hard-working talent in the Palm Beach County market? 

It is very hard, and I find that I’m always looking for people. I’m constantly asked the question when I’m out at a meeting or at a networking event, “Are you looking for bankers?” I always say, “I’m never looking, but I’m always looking” because I’m trying to find the right person who will fit into our culture. 

It’s also very hard to recruit a good banker who is working at a big bank because they already have an established book of business and a continuous flow of referrals. At a smaller bank like ours we don’t have that, and you have to be an aggressive calling officer and business developer to be able to be successful here. We have to be careful about whom we hire because we don’t want to set anybody up to fail. Some of the best people I’ve recruited are from big banks and who want to try something else because they’re at a  time in their lives when they want to scale down. A smaller bank like ours is attractive to these people because of our incentive plan and how we operate.

To learn more about our interviewee visit: 

https://www.seasidebank.com/

How Broward is Solving its Transportation Troubles

How Broward is Solving its Transportation Troubles

By Max Crampton-Thomas

4 min read October 2019 —  For over a century, the car has been America’s top transportation choice when getting from point A to point B. As the population in the United States has grown exponentially year over year, so has the dependency on these vehicles, which has led to worsening transportation issues like congested roads, air pollution, traffic accidents and in some cases fatalities. Throughout South Florida, in this case Broward County, the negative effects of the population’s dependency on single-occupancy vehicles are rampant throughout the region. While these issues pose a major challenge to Broward, there is hope as the younger generations are looking to avoid the stress of car ownership, and many community leaders and organizations are making a push toward better mass transit and alternative transportation options.

While these are not all new ideas, in the last couple of years the emphasis for Broward has become truly exploring and executing these ideas. This starts with the  30-year Penny For Transportation Surtax that was passed last November and is set to generate billions of dollars toward improving transportation and mass transit options throughout the county. Invest: recently spoke with Monica Cepero, deputy county administrator for Broward County, who discussed what the community could expect from the revenues generated by the tax. “This sales tax is set to generate about $16 billion over the next 30 years, and will be used in the more immediate future to improve and modernize public transit services. Our long-term plan for those funds is focused on creating connectivity, extending roadway capacities, multimodal improvements and improving transportation facilities and service.”

Invest: also spoke with Gregory Stuart, executive director of Broward MPO, about the near-term changes that could be expected from the revenues collected from the tax. “Realistically, the immediate changes aren’t going to result in construction; we are focusing on enhancing the traffic signalization program. This includes a coordination between the traffic lights, people’s vehicles and installing smart communication equipment. Another immediate change that has happened already but which we’re not going to notice for about another year, is the county transit agency’s purchase of another 130 buses. Considering they are operating a fleet of about 300 buses right now, this is a one-third expansion and a significant increase in the bus system,” he told Invest:. 

While the tax is going to be a huge benefit for transportation in the region, a change in mindset is another factor impacting how people get around. One option is the Tri-Rail, which is celebrating its 30th year servicing the South Florida community. Tri-Rail Executive Director Steven Abrams spoke about how it is benefiting from the changing mindset toward mass transit in the area. “South Florida is a tourist and service-related economy, and these individuals, like waiters or construction workers, cannot work from their homes. We have people coming from all over the world who are used to rail transportation in their countries, and they are feeding into our system. Our roads are also just becoming so congested. It used to be that our ridership would principally, and almost exclusively, fluctuate with gas prices, but now that  gas prices are stable and dropping, we still have people riding our system because ultimately it is the overabundance of cars on the road that is urging them to seek alternative transportation.”

Abrams also spoke to how Tri-Rail has improved and updated its operations over the years to encourage use by a larger population. “Over those 30 years, we have improved our service, added more trains, added weekend and holiday service and added connections to the three airports. We are a transportation system that has become popular over time and we have really embedded ourselves in the tri-county area.” 

The other popular train in South Florida is also the newest mass transit option for the region, Virgin Trains USA. Running through the three counties of Miami-Dade, Broward and Palm Beach, the train is looking toward the future by connecting the three counties with Orlando and an eventual Tampa Bay stop as well. 

Patrick Goddard, president for Virgin Trains USA, discussed with Invest: how it wants to be a catalyst for transit change in South Florida. “We are reinventing train travel in America, so there are always going to be challenges, but none that we have not been able to overcome so far. The advent of this project has awakened a desire and a curiosity within the municipalities to recognize the full potential for mass transit in South Florida. We are solving the challenge in Florida of medium-haul travel. Airlines take care of long trips, while rideshare, motorized scooters and buses take care of short ones. There has always been this gap with the 200- to 300-mile distances that are too short to fly and too long to drive. By introducing an option like this, it encourages people to leave their cars at home and start using a more environmentally sustainable means of transit.” 

A key factor in remaining economically sustainable is having good transportation and mass transit options. As Broward County continues to develop into an economic powerhouse so to must its transportation, and with changing mindsets and push from community leaders the future looks bright. 

To learn more about our interviewees, visit:

https://www.tri-rail.com/

http://www.browardmpo.org/

https://www.gobrightline.com/

https://www.broward.org/

Face Off: The Bay’s Banking Bosses

Face Off: The Bay’s Banking Bosses

Writer: Max Crampton-Thomas

4 min read September 2019 — The health of the banking sector is a great way to gauge the overall health of the economy, so when the banking sector is prospering it is normally on par with a healthy economy. This remains true in Tampa Bay as the local economy has been experiencing a long and healthy growth that is also shared by the banking sector in the region. Invest: Tampa Bay recently spoke with David Call, Florida regional president of Fifth Third Bank, and Allen Brinkman, region president for Seacoast Bank, two of the premier banks in the Tampa Bay region. Discussions with both banking institutions covered their view of the current state of the market in Tampa Bay, how emerging technologies are impacting their banking practices, and ways to keep growth in the sector and Tampa Bay sustainable for the future.

What is your view of the local market in light of the burgeoning economy in the region?

David Call: Everything is moving at a fast pace in the Tampa Bay region, and from my perspective there is not one particular sector or segment of the market that is doing better than another. Our bank has five lines of business in the region: commercial, small business, retail, wealth and mortgage. All five of those lines are doing well and we are still seeing strong momentum. We have seen this growth for the last four years, and while we are prepared for any kind of slowdown, we haven’t seen any sign of that for the near future.

Allen Brinkman: As long as the economy does well and as the spirit of Tampa Bay continues to rise, the market will remain prosperous. There is a growing sense of pride in the city. This pride is creating opportunities for new businesses to start, established businesses to expand and investments into the business market to remain lucrative. It has been a great market for quite some time, and outside of a global economic issue, Tampa Bay is going to continue to do well. I believe that even if the global economy slows down, Tampa Bay is somewhat insulated because it is a place that people want to be, for both a younger and older demographic. There is almost nowhere else in Florida that is as cost-effective, beautiful and offers as many cultural and economic opportunities as Tampa Bay.

With the prominence of emerging technologies in the financial sector, how can banks find the balance to still deliver a personal experience?

Call: Technology has not taken the place of our physical centers, but everything that we do around technology has definitely taken off. Whether that is depositing a check or checking an account balance, all of these uses are being adopted at a much quicker pace than how technology was adopted in the past. That being said, we believe at least 60% of our clients still want to come to a branch and bank with a human being. That does not mean that they do not want technology, because they do, so it is a balancing act. We are still building branches in the state of Florida, and we will have more branches in the Tampa Bay area too. We want to offer all these various channels for people to use because ultimately we need to stay in line with the voice of the customer and keep them at the center of what we do.

Brinkman: The online and digital experience is more of a convenience vehicle than it is an alternative to all banking. Simple transactions like depositing a check or finding a branch can be accomplished with technology,  but more complicated transactions are usually going to involve an interaction with a banker. Banks are somewhat of a commodity today, and the only way to set yourself apart from other banks is by the advice you give. Our bankers are trained and spend a lot of time on their consultative approach. For example, in the past, we knew that the mortgage business was about borrowing as much as you could to get the biggest house, and hopefully everything worked out. Today, bankers give a little more advice and guidance on what is a responsible financial decision for a customer to make. This type of personal interaction could not be accomplished by technology.

What are some ways to keep banking sector growth and that of Tampa Bay sustainable and recession resilient?

Call: When we adapt to this influx (of high-net-worth investors), it has a positive affect on our business, and this is true for all of Tampa Bay, not just our bank. There are a lot of businesses and people bringing money to Tampa Bay because they see the growth. Outside investment is a huge part of keeping this growth sustainable because we need an infrastructure that matches the influx of people coming to Tampa Bay. In regards to our bank, we are investing our time and resources into making sure that we are a part of the change so we can help our communities thrive.

Brinkman: We are quite conservative in terms of our approach to lending, which some could misinterpret as not offering loans. However, we do offer loans just as much as most banks, we just tend to be conservative in how we advise our customer. Our bankers sit down with customers to understand why they need a loan, what the purpose is and inform the customer of whatever risk elements are out there that they may not have thought of. When a loan is done with Seacoast, a relationship is formed. We make the decision jointly versus just providing a loan that may not be right for the customer. Our role as a bank is to protect the customer, which creates a greater sense of responsibility to really develop a product that’s customized to their needs. If there is another recession, we believe we will fair well because of this practice.

To learn more about our interviewees, visit:

https://www.seacoastbank.com/

https://www.53.com/

Business is Booming for Deerfield Beach

Business is Booming for Deerfield Beach

By Max Crampton-Thomas

2 min read September 2019 — When discussing growth in Broward County, the conversation would typically center around the economic hub that is the city of Fort Lauderdale. While it may be the most universally recognized city in Broward, it is certainly not the only one in the county experiencing an economic boom.

Located at the northernmost point of Broward County is Deerfield Beach, a city whose growth cannot be understated or overlooked. Home to over 80,000 individuals, this beach community has capitalized on the economic prosperity and ever-increasing migration of individuals to the South Florida region. Invest: Greater Fort Lauderdale spoke with Bill Ganz, the mayor of Deerfield Beach about the city’s major developments in the last year. “We have had a lot of growth in the city in the last 12 months, including over 11,000 building permits that total nearly a billion dollars in new construction. We have new residential developments under construction from some of the top developers in the area, such as Lennar, Toll Brothers, Ram Realty and Weingarten Realty. One of the finest organizations in Broward County is also located in our city, JM Family Enterprises. They are working on a $176 million expansion of their corporate headquarters,” he told Invest:. 

The growth of Deerfield has not just been predicated on the development of new construction projects for the private sector. The city has recognized the importance of reinvesting in itself to better serve its residents. This is apparent in the ongoing construction of a new 12,000-square-foot community center, which is a revitalization of the old Tigner Community Center. When completed, it will be one of the largest community centers in Deerfield Beach. 

Successful economic growth of an area in Broward County is also dependent on addressing future threats to that growth. Ganz made a point of talking to Invest: about how the city is addressing the looming threat of sea level rise and its efforts toward environmental resilience. “We have been working on these issues for several years, starting with the West Wellfield project, which helps to solidify the water system in Deerfield Beach, so we are much better protected against salt water intrusion. We have taken the initiative to become LEED certified with some of our city projects that have recently finished, including the new pier and facilities on the beach.” 

He continued to speak on how he hopes Deerfield will serve as a positive example on these issues for other areas of Broward County. “We have a new Siemens Energy Efficiency Program that we hope can be used as an example for other municipalities to address these issues. The city has also been working on an Emergency Preparedness and Response Plan. We don’t want to just talk about sea level rise, but really address it from a safety standpoint, especially in the event of another hurricane.” 

The advancement of Deerfield Beach has not been by chance, and can be attributed to well-thought-out and deliberate initiatives and actions taken by the city’s public and private sectors. There is a recognition that to sustain the economic growth, the city must continue to present unique opportunities to businesses in the area. 

One of the ways the city is doing this is by recognizing the need to retain a strong workforce within the city, as highlighted by Ganz: “We want to make sure that we provide them with a wide variety of opportunities, not just entertainment, but business opportunities as well. We also are trying to make sure that we are appealing to all generations of the workforce. One of the ways we hope to accomplish that is with some of the new residential construction that is being built. We have worked with these developers to make sure they are keeping the new buildings attractive to all segments of the workforce in the city. We are also fortunate to have the most beautiful beaches in all of Broward County, and these people can really take advantage of this being a nautical destination.” 

While it has been a successful year for the city, local government and the business community will continue to focus on sustaining this growth for the foreseeable future. 

To learn more about our interviewee, visit:

http://www.deerfield-beach.com

Spotlight On: Ronnie Felder, Mayor, City of Riviera Beach

Spotlight On: Ronnie Felder, Mayor, City of Riviera Beach

By Max Crampton-Thomas

 

2 min read September 2019 — When Ronnie Felder won the runoff race for mayor in March, he had campaigned on the idea of revitalizing the city of Riviera Beach. Invest: Palm Beach sat down the mayor to discuss how he is encouraging economic revitalization and development in the city by rebuilding relationships with the local business community, specific industries he is targeting as part of his economic development plan and what the next few years will look like for Riviera Beach.

How are you working to strengthen the city’s relationship with local businesses? 

One of our goals is to meet with every business in this city to become more familiar with the organizations that are out there and their needs. We are learning through these relationships that a lot of these companies want to hire individuals from Riviera Beach but there is a lack of experienced workforce. We want Riviera residents to know that these job opportunities exist, and as the mayor, I feel it is my responsibility to make sure that happens. In past years, Riviera Beach did not have this established dialogue with the business community. For us to progress as a city and to have the trust of the business community, we must continue to build and strengthen this dialogue.

 

What are some industries you are targeting to help grow the city’s economy? 

We need more hotels and restaurants, which is a significant way for us to begin to push this city into the future. We do not have enough hotels to accommodate a large influx of tourism, which is impeding our growth. We have to be aggressive in our development efforts. I want to see cranes throughout Riviera Beach because when you see cranes in the city, that means economic growth, it means we are tapping into our potential and other businesses will see this and also want to be part of our city.

 

What are your short-term goals for the city’s economic development? 

We want to see exponential growth in the next two years. We will be working with businesses to encourage them to hire our young people when they graduate so we can retain some of that local talent. We have to begin to address the long-neglected infrastructure improvements and redevelopment of our public facilities like city hall, the police station and our schools. Everyone from the private and the public sectors should start seeing the benefits from our efforts to grow the local economy.

 

To learn more about our interviewee, visit:

http://www.rivierabch.com/

Spotlight On: Joseph Cox, President & CEO, Museum of Discovery and Science

Spotlight On: Joseph Cox, President & CEO, Museum of Discovery and Science

By Max Crampton-Thomas

2 min read September 2019 — To be considered a staple within the growing economic landscape of Broward County is no small accomplishment, especially as new options seem to become available to the public on a weekly basis. There has to be a real sense of connection and purpose formed with the public, as well as being an established economic driver, for a business or institution to achieve this status. Invest: Greater Fort Lauderdale had the opportunity to speak with Joseph Cox, the President & CEO of one of the staples of Broward County the Museum of Discovery and Science. Throughout the course of the discussion Mr. Cox made note of how the museum is working to address the lack of STEM workforce in Broward, how they are using new technology to their benefit, the counties support of institutions like the museum and the museum’s important role as an economic driver in the region.

How is the museum helping to address the lack of STEM workforce in Broward County? 

South Florida is powered by industries that thrive on a strong, vibrant STEM workforce. From aviation to tech, there is a unique voice in the local workforce of innovators, tinkerers and problem-solvers.  The Museum of Discovery & Science plays a crucial role in the community by introducing children of all ages to the exciting opportunities offered by careers in STEM. We recently opened The Leighton Family Hangar, our innovative Makerspace exhibit, a hands-on collaborative experience that fosters the learning of new skills, creating products and sharing ideas. Through partnerships with corporations, universities, technical colleges and, of course, our local school system, we will be offering an exciting range of programs and events that allow students to gain valuable skills for their future and ultimately our community’s future. The Hangar will inspire new generations to embrace the engineering design process as they develop, innovate and problem-solve.

 

How important is the adaptation of new technologies to a science museum?  

One of our goals at MODS is to connect people to inspiring science, and this includes state-of-the-art technology. Technology at the Museum is powered by our most vital resource: our staff and their creativity. Innovative technology is one of the tools our staff uses to help bring the exhibitions and programs to life. We are experimenting with the integration of augmented and mixed reality in exhibits and educational programs, as it truly is an opportunity to contribute to a new path of learning in museums. We are thrilled to have strong partnerships with Broward-based technology companies such as Citrix, Florida Power & Light and Magic Leap that allow us to drive innovation and technology forward in an accessible and meaningful way.

 

What is your view of the county’s support for arts and cultural institutions?

The Broward County Cultural Division clearly champions the arts in our community. The Cultural Division’s ongoing investment in cultural programming, public art and capital projects reflects the value attributed to the arts by the County.  We are fortunate to have an incredibly vibrant cultural community where collaboration is celebrated. The Museum considers the Cultural Division a partner as we work together to strengthen local cultural offerings, from exciting exhibits and award-winning education programs to breathtaking IMAX documentaries.

 

How is the museum an economic driver in the Broward County region? 

Beyond the cultural impact of the Museum, we also play a role in the local economy, with 150 employees and more than 400,000 visitors annually. A recent Americans for the Arts survey estimated our economic impact to be more than $22 million. The Museum purchases goods and services locally, hires and trains staff and supports many social service agencies with free and reduced admission. Whether having lunch in the neighborhood or traveling from out of town for the weekend, our visitors help drive the local economy and, with over 15% of our visitors coming from overseas, we are supporting the diverse offerings of our destination.

 

To learn more about our interviewee, visit:

https://mods.org/

Face Off: Tampa’s Transportation Task Forces

Writer: Max Crampton-Thomas

4 min read September 2019 — Whether it is Hillsborough, Pasco or Pinellas County, transportation issues seem to plague the entirety of this growing region. Mitigating these challenges requires innovative thinking and collaboration between the community, local government and both public and private organizations. Invest: Tampa Bay recently spoke with Beth Alden, executive director for the Hillsborough Metropolitan Planning Organization, and Whit Blanton, executive director of Forward Pinellas. These two organizations, whose primary focus is addressing the transportation and transit issues in the Tampa Bay region, discussed how they are gauging community needs in regards to these issues, facilitating better transit options and how they are turning dollars into solutions.

How do you gauge the community’s needs in regards to new transportation options?

Beth Alden: We have been engaging the public with an online survey, which is an interactive, gamified survey to ask folks about their priorities in regards to transportation. We received 5,200 responses, and it is amazing how many people are saying that they want a better rapid transit system. We have also discovered that they are very interested in reusing the freight rail tracks. That would require an agreement with CSX, which owns those tracks, but it’s a very underutilized asset. There’s no freight rail track between Downtown Tampa, the airport and the Westshore Business District, and it will take some extra steps to create that.

Whit Blanton: Our challenge in Pinellas County is that we are not growing like Pasco, Hillsborough, or Manatee County. We are expected to add about 90,000 people by the year 2045, which is a small fraction of what the other counties are expected to have. We have to plan and think differently. We have a situation here where the average new worker in Pinellas County is almost 50 years old, so we are not attracting young workers, except maybe in St. Petersburg, but most young people can’t afford to live there. Our strategy is really aimed at the future of our workforce, how do we draw talent and how do we retain this talent. We believe the solution is investing in housing and better mass transit services.

How are you facilitating better transit options?

Alden: In regards to transit, having some form of passenger rail system or rapid transit system would be one way we could do that. The important point with a rapid transit system is that we provide a way for it not to get stuck in traffic, so we need to provide some space for it to run and get out of traffic. We can do this with our bus system by providing special bypass lanes for buses where there is room on major roads. The walk and bicycle infrastructure is really important as well. People do not realize how many trips they make that are less than two miles long. If there are safe ways to walk or bicycle, then they do not necessarily have to be putting another car on the road to make that short trip. This also relates to our Vision Zero project, which is the vision of zero traffic deaths in Tampa Bay.

Blanton: ITS (Intelligent Transportation Systems) 2.0 is our plan for moving toward more intelligent transportation systems. Since the early 2000s, we’ve done a good job of implementing smart signals for moving traffic, responding to hot spots of congestion and facilitating traffic flow.  ITS 2.0 is intended to reimagine what the next phase of that investment is going to look like, which will focus more on real-time information and also ensuring the safety of bicycling and walking. Our advanced traffic management system has been focused on moving cars through intersections and keeping the flow going, but the next phase will include recognition of pedestrians at crosswalks. We also have an integrated transit fare payment system, called Flamingo Fares, that has been under development for a couple of years. That should go live in the next year. It will be a one-fare payment that can be used all over the region, whether someone is in Hillsborough or Pinellas County.

What specific plans are being implemented to move transportation development forward?

Alden: We will start with the essentials: resurfacing, safety and smart traffic signal projects. Almost half (the new Hillsborough transportation tax) is for transit, starting with expanding the bus service so it runs on evenings, weekends and often enough that you do not have to spend an hour waiting for a transfer. This is an amazing opportunity to implement the changes we have been planning for years. There are many more exciting projects in the pipeline. We finally have the resources to make the changes that the community wants to see in Tampa Bay.

Blanton: The Gateway District is our economic engine in Pinellas County. It is where the St. Pete-Clearwater International Airport is located, and there are a significant number of manufacturing and office jobs in that area. The challenge is that it is a loose and segregated type of development that is in need of an update. The Gateway is in four different jurisdictions, so it can be hard to design a cohesive plan for that area. We asked all four local governments, Pinellas Park, St. Petersburg, Largo and Pinellas County, to contribute $100,000. Forward Pinellas then put in $100,000 and the Department of Transportation put in another $500,000. With all this funding, we were able to put together a million-dollar master plan that is about to be finished. It is a reimagining of how the Gateway will develop in the future and focus on sustainable development because a lot of the gateway is in a coastal, high hazard, flood-prone area where businesses and potential development are vulnerable. The plan addresses how we are looking at higher density development to support transit in that area because we need to get our workers between the counties.

 

 

To learn more about our interviewees, visit:

http://forwardpinellas.org/

http://www.planhillsborough.org/

Spotlight On: Jeffery Klink, First Senior Vice President & Southern Florida Regional President, Valley Bank

Spotlight On: Jeffery Klink, First Senior Vice President & Southern Florida Regional President, Valley Bank

By Max Crampton-Thomas

 

2 min read August 2019 —During times of economic prosperity, the banking sector is primed to benefit the most, but when the economy begins to slow, or a recession hits, lenders normally feel the harshest effects. This forces banks and financial institutions to be innovative and mindful of how they approach their day-to-day business. There are, of course, the outliers like Valley Bank, which, as noted on its website, has never produced a losing quarter since its founding in 1927. Invest: Greater Fort Lauderdale recently spoke with Jeffery Klink, first senior vice president and Southern Florida regional president for Valley Bank, who spoke about the bank’s efforts to ensure great customer experience, how it differentiates itself in a crowded South Florida marketplace and the biggest challenge facing the banking sector. 

How does Valley Bank ensure a community bank feel while still providing the services of a large regional bank? 

We are a community bank with a regional overlay and that is how we choose to operate. What has been really interesting is that our clients in many cases do not realize that we are a large regional bank unless they need access to loans that are $25 million to $35 million or above. Our core business clients that are looking to borrow $500,000 to $5 million still view us as a community bank because that’s the space that we operate in.

How does Valley Bank differentiate from the competition in the region? 

Being client-centric is really our main differentiating factor in banking. Valley Bank, like most regional and national banks, has a similar technology platform. These systems allow users to access their accounts remotely, and they may very rarely come into our branches. How we mitigate this so the banking experience doesn’t become impersonal is to ensure that each client has a core group of bankers who they know and who know their needs. When customers call our bank, they are actually talking to somebody who knows the client not just from a business standpoint, but also on a personal level. This personal service combined with our technology platform has really allowed us to compete from a service perspective with the community banks.

What is the biggest challenge facing the banking sector? 

The main challenge in banking is balancing interest rate movements. Throughout 2018, we saw Treasury rates increase significantly and that was allowing banks to adjust and increase the rates they were collecting on new loans. In 2019, we have seen interest rates pull back, which has been to the benefit of borrowers because rates have dropped to nearly historical lows. Banks are going to have to address and combat margin compression throughout 2019 because we are collecting less on the loan side and we are paying more than we have for close to 10 years on the deposit side of the balance sheet.

 

To learn more about our interviewee, visit:

 

https://www.valley.com/

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