Comments: Arguably, the most recognizable civil engineering name in the Tampa Bay area shut it doors last week. This is not shocking news to anyone in the business, as the area is muddling through the worst development slowdown (freeze?) in memory. It will take years before any significant amount of deal flow returns to the development arena.
More negative news was also released on Friday, showing Tampa Area unemployment had once again ticked northward, to 11.3% from 11.2%. The silver lining in the unemployment numbers is that the rate has slowed from the accelerating increases that we had experienced earlier in the year.
We will reiterate, again, the importance of upcoming Mayoral and County Commission elections in the next 16 months. It is imperative that our area seeks out and elects LEADERS that understand the need for our area to once and for all diversify our economic base. Construction and real estate will always play a significant role in the Tampa Bay area, but in order for the area to smooth out the boom to bust patterns we have experienced, we will need to have leadership that buys in to a long term plan to attract Next Generation business to the area at a more rapid pace than has been the case to date.
Source: Tampa Bay Business Journal
Heidt & Associates, Inc., a civil engineering firm with a significant presence in Tampa since the early 1940s, is shuttering its business.
The firm notified employees and clients this week it was winding down operations, citing the real estate downturn and ailing economy as reasons for the closure, sources told the Tampa Bay Business Journal.
