DOWNTOWN TALLAHASSEE, Fl — An economic boom could be on the horizon for Tallahassee, but business leaders say achieving sustained success will require better communication across sectors, job retention, and strategic planning.
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Data from the Greater Tallahassee Chamber shows Leon County’s economy is growing, ranking 17th in the state. However, the area still faces hurdles, including workforce challenges and declines in employment.
Ed Murray, President of NAI TALCOR, a commercial real estate firm, described the current market as flat but stable.
"The transactions are flat," Murray said. "We're in a world where we see and do a lot of real estate transactions in our market, and we manage a lot of property. So, we talk to a lot of people, and we find out if they're happy, they're not happy, are they growing, are they not growing, and the transactions are flat."
Despite the flat market, Murray sees potential in the city if different sectors can better align.
"Yeah, we have to make sure that all the pieces are connected," Murray said. "It's a software problem, and it's a connectability problem, and I know that people are working on that. So, that's what needs to happen, but we need job retention and job growth."
For local business owner Lachanthia Hall, securing funding remains a top priority. Hall recently benefited from the Tallahassee Community Engagement Fund.
"Getting those local dollars from organizations, or a city or state funding, or federal funding is important," Hall said. "So just getting to a one-hub, one-stop shop, you know, where we can get that funding is very important. And I think we need more of that."
With a steady influx of new residents to Florida, local business leaders want Tallahassee to capture more of that growth.
"You have 1,000 people a day moving to the state of Florida, and we're not getting much out of that," Murray said. "These markets are booming, and we're not getting much out of that. We need to figure out how to get our share."
Murray said he is working on an action plan with the Chamber and local governments to focus on generating economic momentum. While he could not provide specific details, he said the plan focuses on connecting sectors and that more information will be shared soon.
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