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Business News in Tampa Bay, FL

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Whos the owner behind Residences at 400 Central, the tallest residential building on Floridas Gulf Coast?

The Residences at 400 Central in St. Petersburg, Florida, is set to be the tallest residential building on the Gulf Coast, featuring 301 luxury condos and various commercial spaces. Owner John Catsimatidis emphasizes his centrist political views while expressing indifference to potential buyer reactions concerning his support for Donald Trump. The building is nearly sold out and aims to address local housing needs through affordable housing contributions.

Kroger CEO resigns following investigation into personal conduct

Kroger's CEO Rodney McMullen resigned amid an investigation into personal conduct unrelated to business operations, as confirmed by the grocery chain. Ronald "Ron" Sargent has been appointed as interim CEO while a search committee is formed to find a permanent replacement. The board emphasized that the concerns did not affect Kroger's financial performance or involve any associates.

Rising Residential Demand for Standby Generators

Rising demand for standby generators in Florida is driven by the increasing frequency of hurricanes, as noted by Hoffman Electrical & AC. This trend highlights the growing need for emergency backup power solutions among residents in hurricane-prone areas, reflecting broader concerns about storm preparedness.

Equal Business Opportunity (EBO)

The Equal Business Opportunity (EBO) event in Tampa, Florida, scheduled for February 26, 2025, aims to connect small businesses, particularly veteran-owned enterprises, with vital certification and networking opportunities. This initiative underscores the city's commitment to fostering a diverse business landscape and promoting economic growth. Attendees will gain insights into business opportunities and resources available to support their entrepreneurial journeys.

Tropicana facing financial issues amid citrus industry struggles

Tropicana, one of the largest employers in Manatee County, is facing significant financial challenges amid a faltering citrus industry, with sales and profits declining. The company has recently secured a $30 million emergency loan from a European private equity firm due to increasing competition, supply shortages exacerbated by hurricanes, and changing consumer trends.

Report Almost half of statewide storm insurance claims have been denied

Florida's recent hurricanes have led to over 329,000 residential property insurance claims, with nearly 40% denied, according to a Realtor.com report. The Florida Office of Insurance Regulation reveals that only 42% of these claims have been paid, highlighting significant challenges for homeowners seeking recovery from the storm's aftermath.

St. Pete restaurants sharing staff as hurricane recovery continues

St. Petersburg restaurants are collaborating to share staff as the local hospitality industry recovers from the impacts of Hurricanes Helene and Milton. Many servers express gratitude for their employment in Pinellas County despite the challenges faced. This cooperative effort highlights the resilience of the community in the face of natural disasters.

Tampa Bay’s first surf park aims for 2027 opening in Pasco County

Tampa Bay is set to welcome its first surf park, Peak Surf Park, with an anticipated opening in late 2027. Situated in Pasco County, the innovative venue will feature a surf lagoon that utilizes advanced technology to create real ocean-like waves. The park's development, spearheaded by local entrepreneur Tony Miller, promises to enhance recreational options in the region.

Tampa Kicks Off Shop Small Campaign in Support of National Small Business Saturday

The City of Tampa is launching its fifth annual Shop Small Tampa campaign to promote local businesses in conjunction with National Small Business Saturday on November 30. This initiative provides free marketing through the Shop Small Tampa Directory and the city's social media channels, highlighting the vital role small businesses play in the local economy.

Man known as a ‘loose cannon’ for homemade alcohol in Saudi Arabia opens Lakewood Ranch distillery

A chemical engineer, known for his unconventional methods, has opened a distillery in Lakewood Ranch, Florida, after previously making homemade alcohol in Saudi Arabia, where it is illegal. This award-winning establishment highlights the intersection of innovation and local culture, contributing to the burgeoning craft distilling scene in the region.