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In the third quarter of 2006, Sarasota County had over 6,759 financial services jobs. This represents an increase of 522 jobs since 2002. This sector, which includes 902 establishments, added 189 firms since 2002, mostly in securities and non-depository credit institutions. Financial services jobs pay extremely well. Securities and commodities jobs are the county’s highest paying sector at over $112,000 per year, while other financial service jobs pay on average $45,000 to $60,000 per year. [Source: Economic Profile 2007]
Finding a new niche to expand services is one key to a business surviving and even flourishing in challenging economic times. A case in point is Kerkering Barberio & Co. P.A., CPAs, which has identified a strong area for growth in providing CFO functions for small businesses. “A business with revenues in the $500,000 to $7 million range often cannot justify a full-time Chief Financial Officer or Controller,” said Rob Lane, managing partner at the Sarasota CPA firm. “Technology allows us to perform that role at a nominal cost to the client, giving a business owner good internal controls and tools for financial analysis – more sophisticated business management capabilities than they might otherwise have in house.” The “out-sourced CFO” service grew out of the firm’s medical consulting group, which assists medical practices with their business functions. Kerkering Barberio hosts the client’s accounting data and has real-time access to information if the client needs help with bank financing, human resource compensation or other financial decisions. The Kerkering Barberio system also dramatically reduces the time involved in generating financial analyses and status reports, and provides benchmark data for the client’s industry. “Because of technology, we can offer a premium service without charging the client accordingly,” Lane said. Other growth areas for the firm include:
[back to top] Business Resource: Tax Refunds and Credits The State of Florida offers numerous tax credits and refunds. Though the requirements for each vary, the creation of high wage jobs in targeted industries is often a requirement. Qualified Target Industry Tax Refund Capital Investment Tax Credit High Impact Performance Incentive Grant Qualified Defense Contractor Tax Refund Entertainment Industry Tax Exemptions Targeted Jobs Tax Credit
NEW INVESTORS Renewing Investors Benderson Development
UPCOMING EVENTS Furlong is the founder of Mary Furlong & Associates, a strategy, business development, marketing and public relations firm headquartered in San Francisco, CA. The firm's services are uniquely geared to drive new opportunities for clients in the baby boomer and senior markets. Furlong also is the Dean's Executive Professor of Entrepreneurship at Santa Clara University's Leavey School of Business. The cost of the luncheon is $65. Half corporate tables of five are available for $375 and full corporate tables of 10 are $750 each. [register]
This year's theme, "In My Lifetime" is the call for action today on the critical issues that will shape and impact our community tomorrow. We will utilize this conference to energize and engage leaders throughout the region. [info]
Read about the activities and news from EDC Investors and partners. In this Issue: -Sarasota Memorial Center to Hold Ribbon Cutting -Civility and Voting Technology Luncheon -EDC Investor Contributes to MBA Pilot Program at Notre Dame -USF to Hold MBA Information Session [investor & partner news]
The EDC of Sarasota County is the private, not-for-profit corporation leading the community’s economic development strategy to add high-wage jobs and diversify the local economy. The EDC provides business assistance to companies in Sarasota County and helps forge solutions to community challenges that affect quality of life. The EDC works in partnership with chambers of commerce, local governments and other organizations throughout the county and the region. For more information, visit the web site at www.edcsarasotacounty.com. |
Corporate Director
The EDC will host Mary Furlong, Ed.D., an authority on the baby boom generation and author of “Turning Silver into Gold,” at its annual Author’s Luncheon. The luncheon will be held Friday, April 25, 11:30 a.m. at Michael’s on East, 1212 East Ave., Sarasota, FL.
The Tampa Bay Partnership's 9th Annual Regional Leadership Conference will be held May 21-23, 2008 at The Ritz-Carlton, Sarasota.