Philadelphia, South Jersey Prioritize Transit, Affordability, Sustainability in 2020

Philadelphia, South Jersey Prioritize Transit, Affordability, Sustainability in 2020

By: Sara Warden

2 min read December 2019 — Although under slightly different time frames, both South Jersey and Philadelphia’s local and state governments are prioritizing investment in three key axes for the coming years: transit, affordability and sustainability.

 

In 2011, Philadelphia’s City Planning Commission outlined Philadelphia2035, a comprehensive plan for managing growth and development in the city. Updated every year, the first phase includes a Citywide Vision, that encompasses broad planning goals, while the second phase will build upon these with specific policies related to 18 different planning districts. The program invites public and private investment for the development of the city over the medium term. The blueprint is based on three key themes: Thrive, Connect and Renew.

According to the 2035 planning document, the Thrive element will focus on promoting affordability in housing, strong neighborhood centers, economic development and land management. Connect will center around improving transportation and utilities, including transit, streets and highways, ports, airports and rail. Finally, with an eye on sustainability, Renew is all about creating more open spaces, effective use of water resources, air quality and historic preservation.

“Philadelphia 2035 envisions a city with an expanded transportation network that better connects home and workplace; ensures convenient access to sources of healthy food; supports the productive reuse of vacant land; and provides modern municipal facilities that serve as the anchors of strong neighborhoods,” said former City Mayor Michael Nutter when launching the plan in 2011.

The new year was already off to a good start for the City of Brotherly Love even before the calendar turned. National Geographic Traveler in November named Philadelphia one of the top 25 must-visit destinations in the world in 2020.

And across the Delaware, South Jersey faces many of same issues are at the top of Gov. Phil Murphy’s priority list. The four pillars of the 2020 budget signed in June 2019 include creation of over $1.1 billion in sustainable savings, stabilizing New Jersey’s credit-worthiness and ensuring tax fairness for the middle class. This foundation will support the final priority of investments in education, infrastructure – in particular NJ TRANSIT – and an innovation-driven economy.

“The budget enacted today is a victory for working families in New Jersey in many different ways—it supports middle-class priorities, invests in education, makes a record investment in NJ TRANSIT, provides property tax relief, and so much more,” said Murphy when he signed the budget into force.

But Murphy also has his eye on further priorities to strengthen the 2020 plan amid more effective tax revenues. “This is a budget that does not include tax fairness, does not ask opioid manufacturers to help fund addiction services, and does not raise gun fees that have been untouched since 1966,” he said. “These common-sense revenues would have allowed us to save for a rainy day and sustainably fund necessary investments for New Jersey’s nine million residents.”

To learn more, visit:

https://www.phila.gov/departments/philadelphia-city-planning-commission/ 

https://www.jerseycitynj.gov/cityhall/mayorfulop

 

South Florida to Address Heavy-Hitting Priorities Ahead of Election 2020

South Florida to Address Heavy-Hitting Priorities Ahead of Election 2020

By: Sara Warden

2 min read January 2019 — With its status as one of the most important swing states in federal elections, Florida’s voting pattern generally serves as a bellweather for the overall outcome. With President Donald Trump running for re-election in November 2020, South Florida’s agenda for the year is packed with contentious issues, such as gun reform, climate change and foreign policy.

 

 On Dec. 23, an appeal was filed by the state government against several Florida cities, including Miami Beach, Fort Lauderdale and West Palm Beach, arguing the cities were flaunting the law by applying harsher restrictions on guns than exist on a state level. “If allowed to stand, the decision will not only invite the development of a patchwork regulatory regime in the area of firearms but also render the Legislature impotent to deter power grabs by local officials in other areas,” the brief argued. The issue of gun reform is set to remain a key issue as the 2020 election nears.

Another issue coming back to the forefront is climate change, and South Florida is disproportionately affected by rising sea levels and potable water availability. In November, Gov. Ron DeSantis appointed the state’s first chief science officer and the 2020 legislative session is expected to put more emphasis on climate issues. “State agencies are now beginning to collaborate on these important issues and gather at a leadership level to talk about resilience and how to plan for sea level rise,” Noah Valenstein, secretary of Florida’s Department of Environmental Protection, told the Herald Tribune.

But by far, one of the most headline-grabbing issues leading up to the election will be President Trump’s flagstone immigration campaign. According to the most recent census data, about 23% of the population of Palm Beach County identify as Hispanic or Latino, and the same is true for around 19% of the Fort Lauderdale population. The Democrats chose to host their first presidential debate in Miami, a city where more than 70% of the population is Hispanic, partly because of the immigration platform.

“Latinos are still seen as a monolith,” says Liz Alarcon, a Venezuelan-American Democratic activist and author of Caracas Chronicles, told TIME magazine. “Politicians as a whole still don’t get it, and that’s a problem.”

U.S. Latin America policy is expected to play a major role in the South Florida 2020 electoral result, and Trump has been largely praised by the Latin American community for his tough stance toward Venezuelan President Nicolas Maduro. “Florida elections always come down to margins,” Frank Mora, a professor of politics at Florida International University, told the New Yorker. “Foreign policy is intensely local in South Florida.” Because of the high concentration of Latinos in South Florida, foreign policy related to Latin America hits close to home.

It could also help decide who wins Florida in 2020.

 

To learn more, visit:

https://www.flgov.com/

https://www.caracaschronicles.com/author/lizrebeccaalarcon/

https://pir.fiu.edu/people/faculty-1/faculty/frank-mora/

https://floridadep.gov/sec

 

Spotlight On: William Reichel, President, Reichel Realty & Investments

Spotlight On: William Reichel, President, Reichel Realty & Investments

By: Max Crampton-Thomas 

2 min read December 2019 — The real estate market in Palm Beach County and South Florida is one that is marked with ebbs and flows, so it takes real market knowledge to be able to successfully navigate it. Invest: spoke with local market expert William Reichel, president of Reichel Realty & Investments, on all things related to commercial real estate in the county. He spoke of embracing the current regulatory environment as opposed to holding out hope it will change, his outlook for the real estate market and some significant emerging trends in the industry. 

 

 What challenges does Palm Beach County present in terms of the commercial real estate sector? 

Generally speaking, Palm Beach County is very pro-business, but it presents challenges as well for the commercial real estate sector. So much of business growth is dependent upon the process, and the ability to deal with the complexities, various codes and government agencies within the county and its 39 municipalities. 

I had a partner who would say, “It’s harder than it used to be, but it’s easier than it’s going to be.” That means it’s important to embrace the current regulatory environment rather than holding off in hopes it may change. We focus our 30-plus years of commercial real estate experience in this market on navigating the challenges for clients, which includes knowing which professionals to utilize in the approval process depending on where in the county the project is located. 

What do you predict for the next year in the real estate market? 

The real estate market in Palm Beach County will continue to grow, and I don’t see anything stopping it. While there will be ebbs and flows, there’s a lot of capital and tremendous wealth in the area that is driving the market. As a broker, we get paid when the transaction is completed, so we are incentivized to be engaged in the whole process, to make sure that it goes smoothly, is done properly and is as timely as possible. 

What emerging trends have you observed over the last year and how have these affected demand on the market? 

One of the large, emerging trends weve seen in commercial real estate is shared office space, which has become a national phenomenon, and it’s growing here in Palm Beach County. Another trend we‘re seeing is growth of health- and fitness-related facilities that aren’t just gyms but also incorporate other modalities such as yoga, recovery, saunas and more. As the baby boomer generation gets older, they want a quality of health and fitness, which includes exercise as well as recovery. We’re seeing an influx of those types of prospects, which we believe is a terrific fit in this market, given the demographics with significant wealth, and who are willing to spend money on their health. 

To learn more about our interviewee, visit:

https://www.reichelrealty.com/

 

South Florida’s Top Five Events for the Holiday Season

South Florida’s Top Five Events for the Holiday Season

By: Sara Warden

 

2 min read December 2019 — South Floridians may not expect a white Christmas, but there are still a plethora of entertainment options to get the kids into the holiday spirit. From Enchanted Forests to visits from Santa, there is plenty for all ages going on across the Miami, Palm Beach and Greater Fort Lauderdale areas. Capital Analytics counts down the top events in the run up to the big day!

1. Christmas with the Chimps at Lion Country Safari

If you’re an animal lover, this is the place to be on Thursday, Dec. 19. For one day only, starting at 10.30am, guests at the Lion Country Safari park in Palm Beach will be able to leave their cars and watch as the chimps open Santa’s gifts. Entry is $39 for adults and $30 for children, and under twos go free!

Find out more here

2. Winterland at Pinto’s Farm

Located at 14890 SW 216 St, this farm park promises a huge range of activities, including holiday treats, face painting, a petting zoo, pony rides, hay rides and paddle boats. Why not venture into the enchanting illuminated forest and meet Santa Claus, Nix the Snowman and Sprinkle the Gingerbread cookie.

Find out more here.

3. “A Christmas Story: The Musical” at Broward Center for the Performing Arts

Brought to you from the songwriting team behind Tony-award-winning Dear Evan Hansen and La La Land, this show promises to be a festive treat for the ears. The show is based on the 1983 movie A Christmas Story, following protagonist Ralphie’s pursuit of his dream Christmas gift. Showings continue throughout the festive season and tickets are priced at $49-65, with discounts available for teachers and students.

Find out more here.

4. Santa’s Enchanted Forest at Tropical Park

With over 100 rides, shows and attractions, Santa’s Enchanted Forest is sure to spread the Christmas cheer. Running from the end of October until Jan. 5, the fun takes place at 7900 SW 40th Street and promises 3 million lights and a 92-inch Christmas tree, all within an amusement park. Tickets start at $28.60 for children and seniors.

Find out more here.

5. Brightline for The Polar Express train rides

Across selected dates from mid-November until Dec. 29, families can take the one-hour Polar Express train on the brand new Brightline route. Singing, dancing, cookies and hot chocolate are guaranteed to keep both the kids and adults happy before Santa climbs on board to hand out some Christmas gifts to the girls and boys on the nice list. Prices start from $55 for an adult and $50 for a child.

Find out more here

Spotlight On: Mike Schultz, President & CEO – West Florida Division, AdventHealth

Spotlight On: Mike Schultz, President & CEO – West Florida Division, AdventHealth

By: Max Crampton-Thomas

4 min read December 2019 — AdventHealth promotes a model of healthcare based on prevention and promotion of healthier lifestyles to help keep a lid on the rising costs of medical attention. The organization is also trying to make use of technology to make it easier for patients to access healthcare even from their cellphones and make educated decisions about their wellness, said President and CEO of the West Florida Division Michael Schultz.

 

What has been AdventHealth’s key focus over the last year?

 

We worked to rebrand our healthcare business, including a name change to AdventHealth. The change was focused on bringing a new definition to healthcare. Historically, providers have been in the business of fixing health, but our philosophy is to maintain health and prevent episodes that could have been avoided through a healthy lifestyle.

 

Along with our rebranding as AdventHealth, we introduced the tagline, “Feel Whole,” which clearly illustrates our intent to promote a healthier lifestyle. We have been successful in the Tampa Bay market with respect to building a solid brand. Our expansion and acquisition projects are geared toward better covering the expanse of growth in the Tampa Bay market. We have a variety of things going on, from projects being completed or in the process of starting. We have also added to our list of assets, acquiring a couple of hospitals in Dade City and Ocala. 

 

We are also looking into partnerships to bring healthcare to the home. I believe that is the way of the future for the delivery of healthcare because you can do so many things now with high-speed Wi-Fi that helps patients avoid unnecessary trips to the hospital to get diagnosed and treated.

 

Why has your organization decided to focus on preventative healthcare?

 

One of the key aspects of preventive healthcare is our model of never discharging a patient. Historically, hospitals wheel out their patients and wave goodbye to them. We have taken the stance that we don’t ever want to discharge a patient. A visit may end, but we connect with our patients before they leave any of our facilities and ask them if we can assist them through the next level of care. That may be a follow-up visit, a better dietary regimen or access to medication. We offer 95% of our 200,000-plus annual patients access to care navigation and a large percentage of our patients accept the offer. That is a way of making sure they don’t go home and start repeating the same actions that brought them to the hospital in the first place. This helps with maintaining health, reducing cost of healthcare and gets us in a space where we are directly connected to the patient. 

 

We have been intentional in making sure our consumers have a wide variety of access to different sites of service based on cost. This allows them to make the smart decision and not go to an emergency room for a simple cough that could be treated at a physician’s office or an Urgent Care Center. We want to be transparent about the cost of healthcare so that consumers can make educated decisions regarding their medical needs.

 

We also are careful about marketing our different levels of care. One of the biggest initiatives we have begun to promote is connecting to our consumers via the way people get connected today, through their smartphones. We offer an app that helps you understand where you should and should not go for cost-effective care. We are hoping that through these types of apps we can better educate people to make decisions based on their condition and financial resources.

 

What challenges emerge from providing healthcare to diverse demographics, younger and older populations?

 

In many markets in and around Tampa Bay we are seeing a more elderly population moving in. Retirees are starting to discover the beauty of Tampa Bay. But in general Tampa Bay is a fast-growing, diverse community and it is a large geographic area. The key to addressing the healthcare needs of the diverse demographics is to ensure close to home access points, and the ability to connect anytime, anywhere.

 

We also believe we need to make every effort to make healthcare more affordable. Perhaps the way of the future is to help change the reimbursement model.  Currently, you pay when you are sick; a health system is incentivized to provide services to get you well. What if we changed that? For example: a health system might get $10,000 a year regardless if you are well or sick. If you get sick, and it costs the health system $25,000 to take care of you, it loses money. If the Health System keeps you well, and able to keep medical costs at $5,000 because it was proactive in looking out for your wellness, the system makes money.  

 

If we are going to help solve the cost problem in healthcare, we are going to have to work on aligning incentives around health.

 

How is the organization coping with the challenges of recruiting new healthcare talent?

 

First, there is a nursing shortage. At any given time, we have around 800 open positions at our seven facilities in the greater Tampa Bay market. It is difficult, particularly in Tampa, to recruit nurses because the sector is growing and there are many providers. We have developed partnerships with a number of schools to ensure that their nursing students have an opportunity to rotate through our facilities. We also have a partnership with Lincoln Memorial University and opened a nursing school at the AdventHealth Tampa campus. We started late in 2017 and our first class graduated in 2018.

 

Regarding the physician population, we have determined that there will be a supply shortage in the very near future. In this area, too, we have partnerships with several schools to make sure their students can do their rotations through our facilities, so they get exposed to us during their education and perhaps be invited to come work with us.

 

To learn more about our interviewee, visit: 

https://www.adventhealth.com/

 

The Bay’s Top 5 Holiday Celebrations

The Bay’s Top 5 Holiday Celebrations

By: Max Crampton-Thomas

4 min read December 2019 ‘Tis the season for family fun and Tampa Bay has a myriad of holiday happenings to choose from. It comes as no surprise that the region holds such an eclectic and widespread range of options as the local economy boasts healthy and robust tourism and entertainment markets. The only challenge is deciding how to choose between all of the merry events happening throughout the Bay. Invest: explores five of the top options to spend your time during this holiday season. 

 

Enchant Christmas 

Not everyone is privileged to have the World’s Largest Christmas Light Maze and Market in their own backyard, but those in the Tampa Bay region can find this very attraction at Tropicana Field in St. Petersburg. Embark on an adventure to find Santa’s reindeer inside an amazing, custom-designed light maze. Once you have solved the mystery, guests can enjoy the seasonal food and drinks as well as a Christmas Market featuring over 40 local and international artisans. Enchant runs until Dec. 29 and is a wonderful event for families of all ages.  

For more, visit: https://enchantchristmas.com/stpete

Busch Gardens Christmas Town

On its own merit, Busch Gardens is already a must-see attraction in the Bay, so the fact that it features a holiday event that USA Today ranked as one of it’s 10 Best Theme Park Holiday Events, only furthers this narrative. Christmas Town not only is a beautifully decorated affair with millions of holiday lights, it is also a truly fun event. Visitors are afforded the opportunity to visit with Santa and Rudolph, the red-nosed reindeer, holiday-themed culinary experiences, live shows and the ability to have nighttime experiences on their famous thrill rides. Christmas Town is open to the public until Jan. 6 so there is still plenty of time to enjoy. 

To read more, visit: https://buschgardens.com/tampa/events/christmas-town/

Winter Village at Curtis Hixon Park

Winter Village is not the typical holiday-themed event. Winter Village features a holiday-themed cafe, appropriately deemed the Icicle Craft Kitchen, a variety of unique shopping experiences and a unique train ride called the Winter Village Express. But perhaps most significant is the last thing most people would expect to find in Florida: an outdoor ice rink. This is Downtown Tampa’s only outdoor ice rink,and quite possibly one of the only ones in Florida, which is made even more unique with the amazing views of the Tampa Riverwalk and Hillsborough River. This can’t miss opportunity is open until Jan. 5 and the perfect way to bring some holiday happiness. 

For more, visit: http://www.wintervillagetampa.com/

Downtown Tampa Holiday Lighted Boat Parade

In most of the country, a boat is the last place anyone would expect to be during the wintertime, but in Florida the winter is possibly the best time to take out a boat and enjoy the cooler temperatures. That being said, it’s only fitting that Downtown Tampa is home to the annual Holiday Lighted Boat Parade. The parade runs all the way down Tampa Riverwalk and features some of the region’s most unique watercrafts sporting their finest holiday lights. The event takes place from 6:30 p.m.-9:30 p.m. on Dec. 21 in Downtown Tampa. 

For more information, visit: https://thetampariverwalk.com/events/lighted-boat-parade/

Bad Boy Mowers Gasparilla Bowl

This time of year all of the major holidays have one consistent thing in common: there is always a big football game on. In Tampa Bay, this stands true as the region will once again welcome the Bad Boy Mowers Gasparilla Bowl to town on Dec. 23 at Raymond James Stadium. Residents of the Bay can enjoy from their homes or partake in the festivities at the game as the University of Central Florida Knights take on last year’s Bowl champions the Marshall Thundering Herd. The holiday season wouldn’t be complete without some good old-fashioned football. 

To learn more, visit: https://www.gasparillabowl.com/

Spotlight On: Richard Helber, President and CEO, Tropical Financial Credit Union

Spotlight On: Richard Helber, President and CEO, Tropical Financial Credit Union

By: Max Crampton-Thomas

2 min read December 2019 — There are options when it comes to banking and it’s not just choosing between the multitude of traditional banking institutions. When Invest: spoke with Richard Helber, president and CEO of Tropical Financial Credit Union, he made sure to convey that unlike traditional banks, its credit union is a not-for-profit cooperative whose main goal is putting the customer’s interests first. He also spoke highly of the benefits of being located in South Florida and the trends he is keeping a close eye on as we turn the corner into 2020.

 

 

What advantages are afforded to customers who bank with a credit union like Tropical Financial as opposed to traditional banks? 

One factor that really makes us different from our banking counterparts is that we are not for profit. We are organized as a cooperative, so we refer to our customers as members because they actually own us. They elect among themselves individuals who will be on our board of directors. Our board of directors are all volunteers. Because we are a nonprofit, we do not pay income taxes and also do not have a profit motive. 

Banks are organized for profit and we are organized for service, with the philosophy of people helping people. What this means to consumers is that we are putting their interests first. There is no stock and we have no stock options. Our goal with our volunteer board is to put the interests of our members first. This translates into trying to be more competitive on our rates and fees and providing better service. In this day and age when there are so many people with busy lives, our mission is to help them make their finances easy to access and affordable so that they can get on with the things that are important in their lives.

How is the location of South Florida conducive to the future success of your operations? 

There are a lot of positive things happening in South Florida. The state is still seeing over 1,000 people a day moving within its borders. There are still companies that want to relocate here or anchor themselves in Florida. It also helps that this is an international market as well. This has increased the amount of diversity in terms of the number and types of companies that are here, in addition to the variety of professionals who have moved into the state.

What are the continuing or emerging trends in banking that you are keeping a close eye on as we move into 2020? 

One of the trends we are watching carefully is the tellerless branch. This is just starting to happen in South Florida and in different markets across the county. This machine is more or less a highly sophisticated ATM. But it can do a lot more than just take a deposit and dispense cash. They can do all the same things a human teller would do and unlike a human, they can be available 24 hours a day. The branch is being transformed into a financial consultation center not a transaction center.

Another trend we have observed is that when it comes to banking, the younger segment of the population wants tools to help them better organize their finances and make good decisions. For that reason, we have created the Get Beyond Money platform where an individual can sign up to meet with a money coach and develop a financial action plan. 

To learn more about our interviewee, visit: 

https://www.tropicalfcu.com/

South Florida’s Top Five Events for the Holiday Season

South Florida’s Top Five Events for the Holiday Season

By: Sara Warden

2 min read December 2019 — South Floridians may not expect a white Christmas, but there are still a plethora of entertainment options to get the kids into the holiday spirit. From Enchanted Forests to visits from Santa, there is plenty for all ages going on across the Miami, Palm Beach and Greater Fort Lauderdale areas. Capital Analytics counts down the top events in the run up to the big day!

 

 

 1. Christmas with the Chimps at Lion Country Safari

If you’re an animal lover, this is the place to be on Thursday, Dec. 19. For one day only, starting at 10.30am, guests at the Lion Country Safari park in Palm Beach will be able to leave their cars and watch as the chimps open Santa’s gifts. Entry is $39 for adults and $30 for children, and under twos go free!

Find out more here

2. Winterland at Pinto’s Farm

Located at 14890 SW 216 St, this farm park promises a huge range of activities, including holiday treats, face painting, a petting zoo, pony rides, hay rides and paddle boats. Why not venture into the enchanting illuminated forest and meet Santa Claus, Nix the Snowman and Sprinkle the Gingerbread cookie.

Find out more here.

3. “A Christmas Story: The Musical” at Broward Center for the Performing Arts

Brought to you from the songwriting team behind Tony-award-winning Dear Evan Hansen and La La Land, this show promises to be a festive treat for the ears. The show is based on the 1983 movie A Christmas Story, following protagonist Ralphie’s pursuit of his dream Christmas gift. Showings continue throughout the festive season and tickets are priced at $49-65, with discounts available for teachers and students.

Find out more here.

4. Santa’s Enchanted Forest at Tropical Park

With over 100 rides, shows and attractions, Santa’s Enchanted Forest is sure to spread the Christmas cheer. Running from the end of October until Jan. 5, the fun takes place at 7900 SW 40th Street and promises 3 million lights and a 92-inch Christmas tree, all within an amusement park. Tickets start at $28.60 for children and seniors.

Find out more here.

5. Brightline for The Polar Express train rides

Across selected dates from mid-November until Dec. 29, families can take the one-hour Polar Express train on the brand new Brightline route. Singing, dancing, cookies and hot chocolate are guaranteed to keep both the kids and adults happy before Santa climbs on board to hand out some Christmas gifts to the girls and boys on the nice list. Prices start from $55 for an adult and $50 for a child.

Find out more here

 

Spotlight On: John McDonald, Charlotte Office Managing Partner, McGuireWoods

Spotlight On: John McDonald, Charlotte Office Managing Partner, McGuireWoods

By: Felipe Rivas

2 min read December 2019 — The economy and legal services go hand in hand. As a result, Charlotte, well-known for its banking and financial services industry, is attracting top legal talent. With the rise of the region’s healthcare and technology sectors, the legal needs of the business community are evolving with the diversification of the economy. In an interview with Invest: Charlotte, McGuireWoods Charlotte Office Managing Partner John McDonald talks about the factors that influence the region’s legal market, the large talent pool available, and outlooks for the legal market heading into 2020. 

How have the legal needs of the business community evolved with the growth of the region?

The majority of the lawyers in our Charlotte office are involved in the financial services sector in some fashion, whether that is through securities, debt finance, or litigation practices. Charlotte’s large banking community influences the work we do. We also have one of the largest healthcare practices in Charlotte. We are nationally known for our healthcare practice and Charlotte is our second-largest hub for that practice. We also have a very strong energy practice and work with a number of energy clients in the region, as well as nationally. The legal needs of the Charlotte community are very sophisticated. Major national and global companies, such as Bank of America, Wells Fargo and Duke Energy, bring sophistication to the business world, which translates to the legal market. Firms in the Charlotte market have to provide high-end legal services because of the sophistication of the work that is demanded by our clients. 

 

What do law firms need to do differently in today’s technological era to attract and retain clients?

Generally, lawyers by nature are behind the curve because we are cautious and skeptical, especially when it comes to new technologies. Part of McGuireWoods’ strategic plan is to identify and embrace technology that will help us better serve our clients. Whether through artificial intelligence or data analytics, we are always looking for ways to leverage technology to help us drive the results our clients are looking for. Technology can help us identify legal factors and anticipate issues to accomplish the desired results in the most cost-effective way. If firms do not embrace the use of technology, they will fall behind.

 

What is the state of the region’s legal talent pool? 

We recruit from the regional law schools. Charlotte draws lawyers from across the country. In a dynamic market like this, it can be challenging to both attract and retain qualified talent. There is a lot of competition. In addition, the in-house market for lawyers is really impressive in Charlotte. Between the banks and other major corporations in the area, there are a lot of sophisticated in-house legal teams that are an attractive option for some of our lawyers. We acknowledge this, and frankly, it can be a great opportunity for us. When our lawyers leave, they almost always end up going to an in-house team. That is a great way for us to build relationships with clients. At McGuireWoods, our lawyers are always looking for ways to help their community, which they do through pro-bono work or by serving on nonprofit boards. Over 90 percent of our lawyers provide pro-bono services on an annual basis. We take great pride in this and are always looking for ways to do more. I find that law students today have a great sense of wanting to give back. 

 

What is the outlook for Charlotte’s legal sector heading into 2020?

The national and international economies impact the work in the financial services sector. There are signs that some sectors of the national economy might be slowing. That is a concern and we need to prepare for that. At the same time, in the legal market, there is always work to do regardless of the economy. We have to be able to adjust and recognize our clients’ needs and how they are impacted by the broader economy. Overall, we are excited about what 2020 has in store. I know our clients are trying to put together some amazing deals and there is a lot of optimism that it will be a great 2020.

 

To learn more about our interviewee, visit: https://www.mcguirewoods.com/people/m/john-g-mcdonald