Cape lacks commercial tax base

New parks expand tax base, jobs.

Cape Coral has a big problem: not enough of the rapidly growing city is zoned industrial to maintain a healthy economy. The daily traffic patterns during rush hour on the two bridges are a good indication of this ever growing problem.

It is very clear to see when riding around the Cape that the pace of commercial development is not keeping up with the feverish pace of residential construction. I often wonder where all the new residents filling up homes throughout the Cape are going to work.

Commercial real estate broker Greg Eagle said he has the answer: the new 363-acre Indian Oaks & Hancock Creek Commerce Park he has assembled off Pine Island Road from two old developments that never got off the ground.

Besides broadening the property tax base so homeowners don't have to bear as much of the burden, the projects will provide more jobs for people in the city by attracting companies from out of town, said Mike Jackson, Economic Development Director for Cape Coral.

Cape plays industrial catch-up [News-Press]

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