Business Today
By wire services
Published May 19, 2005
SCRIPPS THREATENS PULLOUT: The Scripps Research Institute says it remains committed to a Palm Beach County site but is frustrated with construction delays and may pull out of the publicly financed biotech center. Palm Beach County commissioners in December stalled construction until legal challenges are resolved. County Commissioner Mary McCarty said Scripps chief operating officer Douglas Bingham told her Tuesday that a firm construction date for the $140-million headquarters, the centerpiece of an $800-million project, would be needed by the end of next week or he must look for "an exit strategy." County Commission Chairman Tony Masilotti was unfazed. "This is just smoke. This is a threat," he said.
WALTER RAISES COAL FORECAST: Walter Industries said Wednesday that it raised its four-year forecast for coal production by 16 percent. The Tampa company said it now expects to produce 31.5-million tons of coal from 2006 through 2009, up from 27.2-million tons, because it is accelerating a planned $135-million expansion of one of its three Alabama mines. Walter's stock closed Wednesday at $37, up 7 percent, or $2.44 per share.
GAS PRICES DROP: Gas prices are coming down, reflecting the drop in oil prices to less than $50 a barrel. The national average for a price of a gallon of regular gasoline has fallen 8.4 cents in the last 30 days to $2.16 a gallon, according to the AAA Fuel Gauge Report. In the Tampa Bay area, the drop has been even steeper, from $2.24 to $2.139. AAA said it expects prices to continue to fall over the coming weeks except during holiday weekends.
TOURISM UP: Florida enjoyed strong tourist growth for the first three months of the year. Visit Florida Inc., the state's tourism promotion agency, estimated that 23.8-million visitors came to the Sunshine State in the first quarter of 2005, an increase of 11.5 percent over that period last year.
LUFTHANSA SURVEY: Area economic development officials are teaming up with the Tampa International Airport to assess the need for Lufthansa flight service between Tampa and Germany. Surveys are being e-mailed to business leaders through a wide-ranging partnership.