Commercial Construction Projects Down For First Time Since 9/11
Friday, October 3, 2008 – updated: 3:32 pm EDT October 3, 2008
ORANGE COUNTY, Fla. -- For the first time since 9/11, Orange County is seeing a big drop in the number of commercial construction projects. It affects county services, because of the loss tax revenue. It's also hurting small businesses barely surviving in the unstable economy.The shopping center in between I-Drive and Dr. Phillips is only three months old. Right now, no one is willing to take a risk building new commercial development because, once it's up, it's hard to find a business owner to move in.Eyewitness News found some construction in the I-Drive area, including new hotels and restaurants, but there are fewer new businesses popping up in Orange County and more empty lots with "for sale" signs."I'm not surprised," said business owner Johnny Phung.Phung believes fewer developers are building, because small business owners are going out of business. When he opened a nail salon near the busy tourist area on I-Drive, he thought it would be an instant money maker. On Friday, when nail and hair salons are normally packed, every chair inside the place was empty."All of the businesses around here, everything is dead, very slow," he said.Eyewitness News found the number of commercial business permits issued in Orange County is down for the first time since 9/11. Last year, nearly 2,400 new businesses popped up. That's down to about 1,500 so far this year. That's a 35 percent decline.
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