Local Economy Inspires Sustainability

Nick Sacia, the Executive Director of the Economic Development Council, hopes to create a more diverse economy for St. Johns County.

“Twenty-four percent of St. Johns County jobs are tourism related. This area has become heavily reliant on the tourism industry,” said Sacia. “Our main focus should be on manufacturing and corporate jobs that increase the average wage.”

As economic developers, the Economic Development Council acts as a liaison between the business community and the local government to help creat jobs.

“Generally we work with higher wage industries to bring up the average wage,” said Sacia. “This promotes a healthier business environment.”

Sacia’s goal for our area is a more sustainable economy. Sacia believes that St. Augustine needs to focus on the basics. Businesses need to do market research, make sure their costs are in-line and make sure they have a product people want.

“When the economy was going great, people could open almost anything without doing any market research and survive. But now you can’t just open up a new store in an already saturated market,” said Sacia. “We want a diversified economy so we don’t get caught in a boom-bust economy like before.”

Sandra Parks, owner of Anastasia Books and a former St. Augustine City Commissioner, has a strategy to combat the current economy.

“I may change the character of my business,” said Parks. “Streamlining my business with less overhead would be great.”

A quarter of Parks’ sales are from an emerging market, the internet. Parks’ in-store sales have steadily declined since last year. However, her internet sales are up from this time last year.

“The more books I get online, the greater likelihood is that I’m going to be able to improve my cash flow,” said Parks.

Jayne James, a manager at Shark Shack Sunglasses, said that people are not spending like they used to.

“Parking meters have significantly decreased our foot traffic,” said James. “The meters and the economy definitely attribute to our decline in sales.

Parks also thinks that the city is partly to blame for a lack in constant visitors.

“It’s a great disappointment to me that we do not have a facility that would bring visitors here year round,” said Parks. “[The city needs] a large enough center that could attract professional conferences that stabilize the economy through the lean months. The present that I think the city could give itself that would have a lasting effect on visitation in St. Augustine would be a convention center.”

Sacia agrees that a steady flow of visitors from a convention center would stabilize the economy. However, Sacia says St. Augustine must first get back to 2007 levels, and in order to do that the key is a sustainable economy.

“St. Augustine needs to reinvent itself and become an exporter of goods and products and not just a tourist destination,” said Sacia.

In the meantime, local business owners are trying to stay positive.

“Businesses are contemplating their next move,” said Sacia. “And that’s more than they were doing a year ago.”