Longboat Key Chamber of Commerce hosts Business Before the Bell

It’s a busy time in business, so the Longboat Key Chamber of Commerce snuck in an event for their members before the day even got going. On Feb. 15, the organization hosted its first Business Before the Bell event, where members heard from the Economic Development Corp. of Sarasota County. VP of Development Erin Silk and President and CEO Lisa Krouse spoke to local businesspeople at Turtle Coffee Bar. 

Some of the most common challenges that the EDC has been helping businesses navigate have been piling on each other. Inflation is up, salaries are pushing up to follow it (though at a rate of about 4.5% versus an inflation rate of 7%, said Krouse), employees are struggling to find affordable housing, and on top of it, many industries have never been busier. The EDC is no exception; Krouse said it is the busiest time in the organization’s history.

“Companies really, really prioritize quality of life now, and companies want to be somewhere with a community and community leaders that they trust and feel good about,” Silk said. “We have right now in our project pipeline, about 70 companies that we're working with, and they represent over 5,000 potential new jobs for our community and $300 million in capital investment. It's a great time to be in the EDC, but it brings extra challenges.”

The EDC has seen an explosion in the attraction rate of workers and businesses to Sarasota — it’s doubled since pre-pandemic. That will happen when Time Magazine puts your city on the front cover and names it as one of the best places to be. There’s tons of talent in the Sarasota area, in addition to the workers that were already here. Video tech company Rumble, which is establishing its U.S. headquarters on Longboat Key, is working to hire local candidates to staff the new campus.

“We have a great creative community that's here, and there's a lot of great talent that's moving here and being developed here,” Silk said. “They see that as a really good opportunity to be a part of our community, and we were just really thrilled when we got to meet with the leadership there because they're really wanting to participate in the community and be a good community member.”

In addition to tending to the businesses that are already here and finding spots for new businesses who want to be part of the Sarasota world, Krouse and Silk are also working with remote workers who are looking to move away. Silk recently did a social campaign with Visit Sarasota that targeted remote workers in the Northeast. 

“In many ways, COVID has been a reset and has changed how we live and work, and it’s really impacted our organization,” Krouse said.