Big Book Of Business 2025

2025

BIG BOOK

OF BUSINESS

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LETTER FROM THE EDITOR

Food for Thought An abundance of data, mixed with a behind-the-scenes look at how six leaders in the region foster change in their business, and industry, is the focus of the 2025 edition of the Big Book of Business.

MARK GORDON MANAGING EDITOR

I

f data-driven decision-making is something you do at your organization, then consider the Big Book of Business an extralarge heaping pile of your favorite comfort food.

Not only comfort food, but this issue — the fifth consecutive year we have published a Big Book of Business — is also good for you, and, of course, your business or nonprofit.

For starters, the 2025 edition of the Big Book has more than 25 charts, with easy-todigest information on jobs and employment rates in key sectors in our nine-county coverage area; housing supply and starts; commercial real estate vacancies; and more. Then there are more than 20 rankings, from the largest private companies in the region to the top 10 employers in each county we cover. More than 300 companies are on those lists, including corporate titans like Publix, Raymond James and Hertz, to name just a few. Most of those lists have detailed information on these entities, too.

Beyond data, the Big Book of Business has personality. That lies in a series of profiles we call change-makers. The 2025 edition features six change-makers. The list ranges from the patriarch of a billion-dollar family conglomerate investing a hefty sum into what

some believe to be a dying business — newspapers — to an architect at the forefront of a movement to rethink how we design spaces.

That family business leader, David Hoffmann of the Hoffmann Family of Cos., embodies the spirit of the 2025 change-makers.

In talking about the newspaper industry’s shift from a print product to a digital delivery system, Hoffmann believes there is an appetite for both, where there can be a “happy balance.“ “And I’m betting big on that,” he says. (See Page 44 for the full story.)

“I’m betting millions and millions of dollars that I’m right. To the tune of more than a half-billion, I think.

And I’m pretty confident in my investment.”

But wait, there’s more. This comes from the Florida Scorecard, a deep dive into dozens of data points produced and updated regularly by the Florida Chamber of Commerce Foundation in Tallahassee. We looked at the Scorecard’s Talent Supply & Education tab, which analyzes topics like college affordability, high school graduation rates and eighth grade math and reading proficiency.

Data, as we all know, must be used in the proper context, and sometimes making a solid business decision requires a reliance on your gut. That, in some ways, also describes the Big Book of Business.

For more than a decade, this issue was called the Top 500, and before that, the Top 250. Those annual issues were essentially one list: the largest private companies in the region by revenue. And while valuable — check out the 2025 Top 50 private companies list on Pages 19-20 — we took the pandemic as an opportunity to rethink this publication.

SEPTEMBER 2025 ■ BusinessObserverFL.com

We are confident the result of that strategy shift, and the 2025 Big Book of Business, will prove to be a valuable resource for months to come.

As in past years, if we missed something or you have ideas about other topics or data points we can cover, please let us know. Email me at MGordon@BusinessObserverFL. com.

Publisher and President

Emily Walsh, EWalsh@YourObserver.com Executive Editor and COO

Kat Wingert | Kwingert@BusinessObserverFL.com Managing Editor

Mark Gordon | MGordon@BusinessObserverFL.com Deputy Managing Editor

Louis Llovio | LLlovio@BusinessObserverFL.com Sarasota-Manatee Writer

Elizabeth King | EKing@BusinessObserverFL.com Tampa Bay Writer

Anastasia Dawson | Adawson@BusinessObserverFL. com Editorial Design / Jess Eng, Nicole Thompson Advertising Sales /

Kathleen O’Hara | KOHara@BusinessObserverFL.com; Thomas Waples | TWaples@BusinessObserverFL.com

TABLE OF CONTENTS THE DATA Jobs/Unemployment.............. 8 Housing............................. 10 Commercial real estate......... 12 Banking............................. 14 Business formations............. 14 Bankruptcies...................... 15 Population.......................... 15 Florida Scorecard................ 16 Transportation..................... 18 THE LISTS Largest private companies.... 19 Top public companies.......... 22 Top 50 contractors.............. 26 Patents.............................. 32 Banks................................ 34 Credit unions...................... 35 Insurance........................... 36 Top employers by county...... 37 Layoffs............................... 38 Doc stamps........................ 39 Largest colleges.................. 39 THE CHANGE-MAKERS Natalia Levey...................... 40 Jerel McCants..................... 42 David Hoffmann................... 44 Sylvia Dorisme.................... 46 Jennifer Rominiecki............. 48 Dr. Miguel Rivera................. 50

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COVER PHOTO The Residences at 400 Central tower in downtown St. Pete is one of the largest residential towers on the Gulf Coast. (Photo by Mark Wemple.)

BUSINESS OBSERVER

7

JOBS T HE DATA

Y

ou can go ahead and stop wondering when restaurants and hotels will start hiring again. As much as any component of the latest economic data for the region, leisure and hospitality jobs are showing clear signs of having settled into a new normal.

As a refresher on how bad things

got, recall that in the Tampa MSA, leisure and hospitality jobs plummeted from nearly 165,000 in February 2020 down to 88,000 just two months later, in April. It took until the end of 2022 for that industry to return to its previous level.

Since then, growth has been tepid.

According to the latest available data,

employers in the Tampa market have only added another 10,000 leisure and hospitality jobs in the two-and-a-half years since. The Sarasota-Manatee market has seen even less growth, having added only 1,000 positions since before the pandemic rocked the job market.

Fortunately, this trend around hos-

pitality jobs looks more like a market reallocation than a broader problem.

For example, construction employment has continued to climb in every Gulf Coast market, and unemployment rates have been back in prepandemic territory for years now.

— Alex Walsh

UNEMPLOYMENT RATE 15% KEY Tampa-St.Petersburg-Clearwater North Port-Sarasota-Bradenton Punta Gorda Cape Coral-Fort Myers Naples-Immokalee-Marco Island

12%

9%

6%

3%

June 1, 2018

Dec. 1, 2018

June 1, 2019

Dec. 1, 2019

June 1, 2020

Dec. 1, 2020

June 1, 2021

Dec. 1, 2021

June 1, 2022

Dec. 1, 2022

June 1, 2023

Dec. 1, 2023

June 1, 2024

CONSTRUCTION JOBS

LEISURE AND HOSPITALITY JOBS

100,000

180,000

80,000

140,000

60,000

Dec. 1, 2024

100,000

40,000

60,000

20,000 20,000 June 1, 2018 8

June 1, 2019

BUSINESS OBSERVER

June 1, 2020

June 1, 2021

June 1, 2022

June 1, 2023

June 1, 2024

June 1, 2018

June 1, 2019

June 1, 2020

June 1, 2021

June 1, 2022

June 1, 2023

June 1, 2024

BusinessObserverFL.com ■ SEPTEMBER 2025

OV E R

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We are proud to say we’ve also developed many successful client relationships with charitable entities. These include Goodwill Industries, Gulf Coast Community Foundation, Suncoast Blood Centers, The Players Center for the Performing Arts, and Empath Tidewell Foundation. www.ian-black.com www.ian-black.com || 941.906.8688 941.906.8688| |1 1South SouthSchool SchoolAve, Ave,Ste. Ste.600, 600,Sarasota, Sarasota,FLFL34237 34237

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HOUSING T HE DATA

B

efore throngs of cooped-up northerners decided to move to Florida in summer 2020, it was a lot easier to buy a house on Florida’s Gulf Coast. In the North Port-Bradenton-Sarasota metropolitan statistical area, for example, there were roughly 7,000 active listings on the market, with a median list price of slightly more than $350,000.

Two years later, “Good idea buying in Florida!” turned into “Good luck with that!” as inventories plummeted (down to about 1,500 listings in North Port-BradentonSarasota) and prices skyrocketed as the median list price rose to nearly $600,000.

Had those trends continued, the median price for a listing would have cleared $1 million after another two years — assuming there were any homes left to buy.

Of course, that’s not what happened. According to the latest available data, the number of active listings in the Sarasota-Manatee market cleared 10,000 for the first time in early 2025, and remains near that level now. And as is typically the case, higher supply has led to lower prices, with the median list price in Sarasota down to around $500,000 in the latest available report.

Similar trends have played out in other Gulf Coast markets, as shown in the data.

— Alex Walsh

INVENTORY 20,000 18,000

Tampa-St.Petersburg-Clearwater North Port-Sarasota-Bradenton Punta Gorda Cape Coral-Fort Myers Naples-ImmokaleeMarco Island

16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 6/1/18 12/1/18

6/1/19

12/1/19 6/1/20 12/1/20 6/1/21 12/1/21 6/1/22

12/1/22

6/1/23 12/1/23 6/1/24

12/1/24

MEDIAN LISTING PRICE $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 6/1/18 12/1/18 6/1/19 12/1/19

6/1/20 12/1/20 6/1/21 12/1/21 6/1/22 12/1/22 6/1/23 12/1/23 6/1/24 12/1/24

PERMITS ISSUED

Note: Sarasota permit data is for number of structures, rather than units.

3,000 2,500 2,000 1,500 1,000 500

6/1/18

10

BUSINESS OBSERVER

12/1/18

6/1/19

12/1/19

6/1/20

12/1/20

6/1/21

12/1/21

6/1/22

12/1/22

6/1/23 12/1/23

6/1/24

12/1/24

BusinessObserverFL.com ■ SEPTEMBER 2025

448230-1

COMMERCIAL REAL ESTATE OFFICE SQUARE FT. ON THE MARKET

T HE DATA

10,000,000

INDUSTRIAL SQUARE FT. ON THE MARKET KEY

23.4%

2019 2024

10,000,000

22.4%

KEY 2019 2024

107.8%

8,000,000

8,000,000

6,000,000

6,000,000

4,000,000

4,000,000

15.2% 9.6%

109.1% 76.9%

2,000,000 20.6%

Hillsborough Pinellas

Pasco

22.3% Polk

20.6%

1.2%

61.5%

92.0%

31.5%

572.9%

21.3%

37.9%

Manatee Sarasota Charlotte

Lee

Collier

KEY

24.8%

52.0%

38.3%

Hillsborough Pinellas Pasco

Polk

Manatee Sarasota Charlotte Lee

Collier

AVAILABLE MULTIFAMILY UNITS

RETAIL SQUARE FT. ON THE MARKET 3,500,000

121.9%

2,000,000

2019 2024

14,000

KEY 2019 2024

72.0%

3,000,000

12,000

2,500,000

10,000 38.9%

8,000

2,000,000 32.0%

35.3%

1,500,000

31.2% 43.3%

6,000

4,000

1,000,000

168.7%

24.7%

260.4% 144.8%

237.9%

70.2% 44.9%

500,000

2,000

34.9% 520.2%

Hillsborough Pinellas

Pasco

Polk Manatee Sarasota Charlotte

Lee

Collier

Hillsborough Pinellas

Pasco

Polk

Manatee Sarasota Charlotte

Lee

Collier

Source: CoStar

12

BUSINESS OBSERVER

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BANKING T HE DATA

T

he status of Florida’s banks is the same thing you’d like to hear from your pediatrician about your kids: healthy and growing.

The state’s banks increased assets under management by $24 billion in the first quarter of 2025 as compared with the end of last year, a substantial uptick relative to recent changes.

At the same time, banks managed proportional increases in the scale of their loan portfolios. Put another way: The ratio of net loans to assets stayed essentially level.

At the same time, net interest margin rates were level, as well, indicating banks were able to achieve an increase in quantity of assets and loans, with no apparent sacrifice in quality.

TOTAL ASSETS

NET INTEREST MARGIN (MEDIAN %)

(MILLIONS) 350,000

NET LOANS TO ASSETS (MEDIAN %)

4.0

$327,571

80 3.44

$303,628 $303,628 $293,948 300 $291,216

3.5

250

3.52

3.43

3.35

68.28 70

3.43

3.0

60

2.5

50

2.0

40

1.5

30

1.0

20

0.5

10

67.01

68.25

66.04

68.25

200 150 100 50

2023

’24

— Alex Walsh

Q1 ’24

Q4 ’24

Q1 ’25

2023 ’24

Q1 ’24

Q4 ’24

Q1 ’25

2023

’24

Q1 ’24

Q4 ’24

Q1 ’25

BUSINESS CREATION T

he number of new LLCs created in Florida decreased 6.4% in 2024, with 526,475 new domestic limited liability corporations created. That’s down from 562,716 in 2023 but still far above pre-pandemic levels. Since 2021, Florida has seen more than 500,000 LLCs created every year for a total of 2.15 million created in the four years since 2020. The number of domestic for-profit companies formed, however, has continued a steady decline, falling to 76,373 created in 2024. The 10-year peak was in 2021 when 104,625 were created. The differences between an LLC and a corporation lies mostly in taxation and management.

NEW LLCS

— Louis Llovio

2018

NEW DOMESTIC FOR-PROFITS

600,000

526,475

500,000

120,000

100,000 76,373

400,000

80,000

300,000

60,000

200,000

40,000

100,000

20,000

’19

’20

’21

’22

’23

’24

2018

’19

’20

’21

’22

’23

’24

Source: Florida Department of State, Division of Corporations

14

BUSINESS OBSERVER

BusinessObserverFL.com ■ SEPTEMBER 2025

BANKRUPTCIES T

KEY Chapter 7 Business Chapter 11 Business

Chapter 7 Personal Chapter 11 Personal

Source: Administrative Office of the U.S. Courts

Chapter 13 Personal

THE DATA

he number of bankruptcies filed in Florida went up for the third straight year in 2024. The total number of business cases rose to more than 1,000, a 33% increase from 2020 and a 65.49% increase from 2021.

The biggest number of business bankruptcies continues to be Chapter 7 liquidations, with 689 companies turning to the courts to wind down. The number of personal bankruptcies increased 33.57% in 2024 to 20,747. That’s slightly more than the 19,956 filed in 2020.

The biggest number of personal bankruptcy filings were Chapter 7s with 15,922, 114 fewer than in 2020.

— Louis Llovio

2020

2021

2022

2023

2024

Total Business Cases: 882

Total Business Cases: 713

Total Business Cases: 719

Total Business Cases: 873

Total Business Cases: 1,180

Total Personal Cases: 19,956

Total Personal Cases: 16,654

Total Personal Cases: 13,204

Total Personal Cases: 15,532

Total Personal Cases: 20,747

POPULATION I

t’s not just retirees from New York who have been putting pressure on home prices.

Florida’s population overall has grown substantially from 2020 to 2024 as the state has added more than 1.6 million people.

That’s an increase of more than 7% over that time period.

But not every part of Florida has grown at the same pace — and in some places, the story takes some detailed explaining.

For example, in the Tampa-St. Petersburg-Clearwater MSA, the population is up nearly 8%, essentially in line with the statewide trend. But Pinellas County’s population is essentially flat over that same time period, while Pasco and Polk have grown more than twice as fast as the state overall.

One oddity that shouldn’t be overinterpreted: Charlotte, Lee and Collier counties are reported to have grown substantially in population, while the

COUNTY POPULATION GROWTH, 2020-2024 Polk

16.8%

Pasco

16.4% 14.1%

Manatee Charlotte

12.8%

Lee

12.5% 10.3%

Collier

9.2%

Sarasota

7.8%

Hillsborough Pinellas

0.6%

area’s MSAs appear slow (e.g., Cape Coral-Fort Myers up just 3%). The likely culprit here: MSA borders are frequently adjusted, and therefore more fungible

SEPTEMBER 2025 ■ BusinessObserverFL.com

Florida: 7.5%

than county lines. The ultimate conclusion here is that the Gulf Coast’s population is growing.

— Alex Walsh

MSA GROWTH, 2020-2024 12.1%

North Port–Bradenton–Sarasota Orlando–Kissimmee–Sanford

10.0%

Jacksonville Tampa–St. Petersburg– Clearwater Panama City–Panama City Beach

9.7%

Ocala

6.2%

7.9% 7.1% 5.3%

Pensacola–Ferry Pass–Brent Miami–Fort Lauderdale– West Palm Beach Lakeland–Winter Haven

5.2% 4.3%

Port St. Lucie

3.5%

Cape Coral–Fort Myers

3.1%

Naples–Marco Island Deltona–Daytona Beach– Ormond Beach Punta Gorda

2.7% 2.4%

Palm Bay–Melbourne–Titusville

2.2%

Gainesville Crestview–Fort Walton Beach– Destin Tallahassee

1.7%

2.5%

1.6% 1.3%

Florida: 7.5%

BUSINESS OBSERVER

15

FLORIDA CHILDREN AND T HE DATA

A

t first glance, a report on families, children and Florida’s education landscape has little to do with business climate. But a deeper look reveals some important nuggets many businesses look at in terms of hiring, relocation, expansions and other key decisions. One positive trend is high school graduation rates, which have climbed from less than 70% to nearly 90% in a decade. The child poverty rate in the state is declining, as well.

On the flip side, a big negative is how Florida ranks in eighth grade reading and math. In math, particularly, the drop is severe, from being among the top 20 as recently as 2020 to now being in the bottom 10. The data comes from the Florida Scorecard, which is produced by the Florida Chamber Foundation.

HIGH SCHOOL GRADUATION RATES 100%

1M

90%

900K

80%

800K

70%

700K

60%

600K 500K

50% KEY Overall With Disability

40%

400K

30%

300K

20%

200K

10%

100K

’24

2012 ’13 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22 ’23

Source: Florida Department of Education PK-12 Education Information Portal

Source: American Community Survey, U.S. Census Bureau

2010 — Mark Gordon

CHILDREN IN POVERTY

’12

’14

’16

’18

’20

’22

8TH GRADE READING AND MATHEMATICS PERFORMANCE

FLORIDA’S COLLEGE AFFORDABILITY RANKING

FLORIDIANS WITHOUT HEALTH INSURANCE COVERAGE

1

1

4K

100%

3.2K

80%

8

KEY Reading Math

8

15

15

22

22

29

29

36

36

2.4K KEY Four-year Two-year

Source: College Board Tuition and Fees by Sector and State over Time

’13 ’15 ’16 ’19 ’22 ’24

BUSINESS OBSERVER

50 20 03 -’0 ’05 4 -’0 6 ’07 -’0 8 ’09 -’1 0 ’11 -’1 2 ’13 -’1 4 ’15 -’1 6 ’17 -’1 8 ’19 -’2 0 ’21 -’2 2 ’23 -’2 ’24 4 -’2 5

2005 ’07 ’09 ’11

Source: National Assessment of Education Success

16

1.6K

40%

800

20%

43

43

50

60% KEY Number Percent

2013

’15

’17

’19

’21

’23

Source: U.S. Census Current Population Survey

BusinessObserverFL.com ■ SEPTEMBER 2025

FAMILIES SCORECARD CHILD HEALTH RANKING

HOUSING COST BURDENED (RENTERS)

1

100%

Annual state ranking on child health based on the percentage of babies born with a low birth weight, children lacking health insurance, child and teen deaths per 100,000 and children and teens who are overweight or obese.

Housing cost-burdened families are those who pay more than 30% of their income for housing. Data on this tile is for renters only. Severe rent burden is defined as paying more than 50% of one’s income on rent.

THE DATA

90%

8

80% 15

70% 60%

22

50% 29

40% 30%

36

20% 43 50

10% 2018

’19

’20

’21

’22

’23

’24

’25

2011 ’12

Source: Annie E. Casey Foundation

’13

’14

’15

’16

’17

’19

’20

’21

’22

’23

Source: Table B25070, American Community Survey

2024

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TRANSPORTATION T HE DATA

W

hile it won’t be confused with California or Colorado, Florida surpassed an EV milestone in early 2025: The state passed 10% (10.07%) in market share of lightduty vehicle registrations being electric in the 2025 first quarter, according to the Alliance of Automotive Innovation.

California, after briefly ceding first place to Colorado, again

leads the nation in EV sales, with a 23.7% market share of new light-duty vehicle registrations in the Golden State in the first quarter of 2025. Michigan made the biggest gains in EV market share, increasing 3.6 percentage points year-over-year; the second-biggest increase belongs to Florida, with a 2.5 percentage point year-over-year increase.

—Mark Gordon

AIRPORTS

2023

DEPLANINGS Southwest Florida International

9.86%

Tampa International

3.23%

Punta Gorda Airport

1.62%

St. Pete-Clearwater International

1.52%

Sarasota-Bradenton International

2.07% 3 million

ELECTRIC VEHICLES

MARKET SHARE: TOP 20 STATES 1. California..................23.68% 2. Washington, D.C. ......20.59% 3. Washington...............19.73% 4. Colorado..................19.20% 5. Oregon....................15.97% 6. Nevada....................15.24% 7. New Jersey...............13.10% 8. Hawaii...................... 11.11% 9. Connecticut.............. 11.05% 10. Vermont.................10.85%

11. Massachusetts........10.82% 12. Delaware................10.19% 13. Florida............... 10.07% 14. Maryland..................9.78% 15. New York..................9.32% 16. Utah........................9.09% 17. Arizona.....................8.84% 18. Georgia....................8.66% 19. Illinois......................8.22% 20. Michigan.................. 7.93%

2024

6 million

9 million

12 million

PASSENGERS Southwest Florida International

9.52%

Tampa International

3.37%

Punta Gorda Airport

1.23%

St. Pete-Clearwater International

1.45%

Sarasota-Bradenton International

1.77% 5 million

10 million

15 million

20 million

25 million

AIRLINE MARKET SHARE Southwest Florida International Delta, 20.78%

Southwest, 17.08%

Tampa International Southwest, 25%

American, 14.35%

Delta, 17%

American, 16%

Punta Gorda Airport Allegiant, 99%

Sun Country, 1%

St. Pete-Clearwater International Allegiant, 97.97%

Commercial charters, 1.33%; Sun Country, 0.96%

Sarasota-Bradenton International Southwest, 23.11% Top airline

2nd

3rd

Others

10%

SEAPORTS CARGO TONS 30,000,000

30%

40%

300,000

200,000

20,000,000 15,000,000

7.19%

10,000,000 5,000,000 SeaPort Manatee

Port Tampa Bay

Sources: Individual ports, airports and airport authorities

BUSINESS OBSERVER

50%

60%

70%

80%

90%

100%

CRUISE PASSENGERS 1,200,000

7.88%

18.14%

250,000

25,000,000

18

20%

Allegiant, 17.84%

TEUs 4.01%

35,000,000

Delta, 20.71%

1,000,000 800,000

0.9%

150,000

600,000

100,000

400,000

50,000

200,000 SeaPort Manatee

Port Tampa Bay

N/A N/A SeaPort Manatee

Port Tampa Bay

TEUs are 20-foot equivalent units

BusinessObserverFL.com ■ SEPTEMBER 2025

TOP PRIVATE COMPANIES Company

2024 Revenue 2023 Revenue Change

1

Publix Super Markets Inc. 3300 Publix Corporate Parkway Lakeland 33802; 863-688-7407, publix.com

2

Staff

Year Founded

$59,700,000,000 $57,100,000,000 4.55%

240,000

Morgan Automotive Group 3031 N. Rocky Point Drive, Suite 770 Tampa 33607; 813-434-1982, morganautogroup.com

$9,442,847,378 $8,157,372,418 15.76%

3

Frank Crum 100 S. Missouri Ave., Clearwater 33756 727-799-1229, frankcrum.com

4

Industry

Line of business

1930

Todd Jones CEO

Retailers

retail grocery

7,413

2005

Brett Morgan CEO

Retailers

automotive sales and service

$3,310,000,000 $3,027,321,173 9.34%

321

1981

Frank Crum Founder and CEO

Other

professional employer organization (PEO) that offers human resources services, including payroll, employee benefits and HR consulting

Coca-Cola Florida 10117 Princess Palm Ave., Unit 100, Tampa 33610 813-327-7285; cokeflorida.com/

$2,100,000,000 $2,100,000,000 0.00%

5,000

2015

Troy Taylor Chairman and CEO

Beverage distribution

manufactures, sells, distributes, and merchandises products of The Coca-Cola Co. and other partner companies, including Monster Energy.

5

Bealls Inc. 1806 38th Ave. E., Bradenton 34208 941-744-4309; beallsflorida.com

$1,931,000,000 $1,931,000,000 0.00%

14,650

1915

Robert Matthews Beall III CEO

Retailers

retail apparel, home goods and gifts

6

Gettel Automotive Inc. 5959 E. State Road 64, Bradenton 34208 941-417-5003; gettel.com

$1,872,570,422 $1,575,598,126 18.85%

1,168

1998

James Gettel president

Retailers

automotive dealer

7

Manhattan Construction Group 3705-1 Westview Drive, Naples 34104 239-435-3827; manhattanconstructiongroup.com

$1,800,000,000 $1,784,535,360 0.87%

899

1896

Larry Rooney president

Contractors

construction management, general building, design-build, preconstruction, concrete, road and bridge, specialty construction

8

Power Design Inc. 11600 Ninth St. N., St. Petersburg 33716 727-210-0492; powerdesigninc.us

$1,300,000,000 $1,200,000,000 8.33%

2,850

1989

Mitch Permuy CEO

Contractors

electrical contractor

9

Gulfeagle Supply Inc. 2900 E. Seventh Ave., Tampa 33605 813-636-9808; gulfeaglesupply.com

$1,300,000,000 1,100,000,000 18.18%

1,700

1973

Brad Resch president

Distributor/ Wholesalers

distributor of roofing and building material products

10

FCCI Insurance Group 6300 University Parkway, Sarasota 34240 941-907-3224; fcci-group.com

$1,216,670,000 $1,129,068,000 7.76%

880

1959

Christina "Cina" Welch president and CEO

Business/ Consumer Services

property and casualty insurance

11

Automated Petroleum & Energy Co. Inc. 1201 Oakfield Drive, Brandon 33511 813-681-4279; automatedpetroleum.com

$1,060,980,183 $1,145,905,408 -7.41%

50

1981

Bill McKnight president

Retailers

petroleum distributor

12

Saddle Creek Logistics 3010 Saddle Creek Road, Lakeland 33801 863-665-0966; sclogistics.com

$949,000,000 $1,300,000,000 -27.00%

5,700

1966

Mark Cabrera CEO

Logistics

Warehousing, omnichannel fulfillment and transportation

13

BlueGrace Logistics LLC 2846 S. Falkenburg Road, Riverview 33578 800-697-4477; mybluegrace.com

$831,000,000 $831,000,000 0.00%

635

2009

Bobby Harris founder and CEO

Other

third-party logistics (3PL) provider

14

Global Ordnance 2150 Whitfield Ave., Sarasota 34243 941-549-8388; globalordnance.com/

$806,000,000 $1,240,000,000 -35.00%

52

2013

Marc Morales CEO

Defense, Military

commercial sale of ammunition, firearms, and complimentary equipment

15

Neal Communities of Southwest Florida LLC 5800 Lakewood Ranch Blvd. N., Lakewood Ranch 34240 941-328-1111; nealcommunities.com

$787,704,954 $905,000,000 -12.96%

311

1970

Patrick Neal Executive chairman

Homebuilders

land developer and homebuilder

16

Anchor Glass Container Corp.

3001 North Rocky Point E., Suite 300, Tampa 33607 813-884-000; anchorglass.com

$700,000,000 $700,000,000 0.00%

1,750

1997

Nipesh Shah President and CEO

Manufacturing

manufactures glass containers in consumer packaging for the beer, beverage, spirits and food industries

17

Homes by WestBay 4065 Crescent Park Drive, Riverview 33578 813-938-1250; homesbywestbay.com

$677,678,025 $700,442,903 -3.25%

260

2009

Willy Nunn president

Homebuilders

new home builder

18

Scotlynn USA Division 9597 Gulf Research Lane, Fort Myers 33912 239-210-3000; scotlynn.com

$664,066,897 $587,646,932 13.00%

394

2010

Ryan Carter president

Other

logistics

19

Ripa & Associates LLC 1409 Tech Blvd., Suite 1, Tampa 33619 813-623-6777; ripatampa.com

$646,000,000 $493,000,000 31.03%

1,135

1998

Chris LaFace president and CEO

Contractors

civil and utility construction services in central Florida

20

DeAngelis Diamond 6635 Willow Park Drive, Naples 34109 239-594-1994; deangelisdiamond.com

$590,000,000 $430,000,000 37.21%

267

1996

John DeAngelis president

Contractors

construction management

21

Sunz Holdings LLC 1301 Sixth Ave. W., Bradenton 34205 941-306-3077; sunzinsurance.com

$503,700,000 $714,400,000 -29.49%

20

2013

Steven Herrig CEO

Business/ Consumer Services

workers' compensation insurance

22

Ajax Building Corp.

425 Commercial Court, Suite J, Venice 34292 813-792-3900; ajaxbuilding.com

$483,700,000 $397,900,000 21.56%

295

1958

William Byrne president

Contractors

construction management

23

Stock Development 2639 Professional Circle, Suite 101, Naples 34119 239-292-2721; stockdevelopment.com

$462,000,000 $530,000,000 -12.83%

426

2001

Brian Stock CEO

Homebuilders

developer and homebuilder

24

Owen-Ames-Kimball Co. 11941 Fairway Lakes Drive, Fort Myers 33913 239-561-4141; owen-ames-kimball.com

$414,000,000 $436,000,000 -5.05%

67

1891

Matthew Zwack president

Contractors

construction management, general contracting and design-build

25

J.H. Williams Oil Co. Inc. 423 S. Hyde Park Ave., Tampa 33606 813-228-7776; jhwoil.com

$353,536,000 $356,561,000 -0.85%

14

1945

J. Hulon Williams III president

Retailers

petroleum management

SEPTEMBER 2025 ■ BusinessObserverFL.com

BUSINESS OBSERVER

THE LISTS

Top Executive

19

THE LISTS

TOP PRIVATE COMPANIES Company

2024 Revenue 2023 Revenue Change

26

RNR Tire Express (SPF Management Co. LLC dba RNR Tire Express), 13922 Monroes Business Park, Tampa 33635 813-977-9800; rnrtires.com

27

Staff

Year Founded

$347,587,607 $331,252,281 4.93%

1,600

Gold Coast Eagle Distributing 7051 Wireless Court, Sarasota 34240 941-650-3139; gceagle.com

$289,000,000 $285,000,000 1.40%

28

SCP & Co. 777 S. Harbour Island Blvd., Suite 400, Tampa 33602 813-318-9600, spcandco.com

29

BIG BOOK OF BUSINESS

Top Executive

Industry

Line of business

2000

Larry Sutton founder

Retailers

tire dealer franchisor

400

1996

John Saputo president and owner

Distributor/ Wholesalers

beer distribution

$280,000,000 $285,000,000 12.0%

2,750

2011

Scot Feuer CEO

Investment

direct investment, fund management

Brooks and Freund LLC 5661 Independence Circle, Suite 1, Fort Myers 33912 239-939-5251; brooksandfreund.com

$266,280,000 $267,400,000 -0.42%

61

2000

Richard Freund manager

Contractors

general contractor and construction management

30

B&I Contractors Inc. 2701 Prince St., Fort Myers 33916 239-332-4646; bandiflorida.com

$247,000,000 $189,000,000 30.69%

1,200

1960

Gary Griffin president

Contractors

mechanical, plumbing and electrical contractors and service provider

31

Willis A. Smith Construction 5001 Lakewood Ranch Blvd., Sarasota 34240 941-366-3116; willissmith.com

$231,390,000 $143,081,312 61.72%

88

1972

David Sessions CEO

Contractors

construction management

32

Sun State International Trucks LLC 6020 E. Adamo Drive, Tampa 33619 813-621-1331; sunstateintl.com

$229,500,000 $203,000,000 13.05%

203

1982

Oscar Horton chairman and CEO

Business/ Consumer Services

commercial transportation equipment sales, service, parts

33

FineMark National Bank & Trust 8695 College Parkway, Fort Myers 33919 877-461-5901; finemarkbank.com

$222,706,000 $176,470,000 26.20%

260

2007

Joseph Catti chairman, CEO

Banking/Finance/Investment

financial services

34

Premier Sotheby’s International Realty 4001 Tamiami Trail, Suite 350, Naples 34103 239-262-4242; premiersothebysrealty.com

$203,000,000 $218,000,000 -6.88%

136

1983

Budge Huskey CEO

Real Estate/ Mortgage Brokers

real estate brokerage

35

S-One Holdings Corp.

1605 Main St., Suite 300, Sarasota 34236 800-453-9538; sone.com

$198,898,886 $190,000,000 4.68%

226

1994

Ron Simkins president and CEO

Manufacturing

provides materials, equipment, technical support in the printing industry

36

Creative Contractors Inc. 620 Drew St., Clearwater 33755 727-461-5522; creativecontractors.com

$195,000,000 $194,000,000 0.52%

105

1974

Alan Bomstein CEO

Contractors

commercial construction

37

Connor & Gaskins Unlimited 1998 Trade Center Way, Suite 2, Naples 34109 239-260-5068; cgunlimited.com

$186,000,000 $173,000,000 7.51%

106

2010

Barry Connor CEO

Contractors

developer and general contractor

38

Crowther Roofing and Sheet Metal 2543 Rockfill Road, Fort Myers 33916 239-337-1300; crowther.net

$181,390,000 $176,439,206 2.81%

870

1974

Lee S. Crowther CEO

Contractors

Roofing, sheet metal, light-gauge metal trusses, lightweight insulating concrete, and HVAC

39

Hawkins Construction Inc. 1430 L&R Industrial Blvd., Tarpon Springs 34689 727-938-9719; hawkinsnet.com

$175,000,000 $195,000,000 -10.26%

88

1975

Miguel Leyva president

Contractors

commercial construction

40

NDC Construction Co. 1001 Third Ave. W., Bradenton 34205 941-747-1062; ndcconstruction.com

$174,000,000 $142,000,000 22.54%

61

1997

Ronald Allen president, principal

Construction

Commercial, multifamily, academic and hospitality construction

41

Schellman 4010 W. Boy Scout Blvd., Tampa 33607 866-254-0000; schellman.com

$171,500,000 $148,400,000 15.57%

519

2002

Avani Desai CEO

Business Services

federal, payment and health care, cybersecurity and privacy assessments; ISO certification

42

Park & Eleazer Construction LLC 2363 Gulf to Bay Blvd., Clearwater 33765 727-216-6591; parkeleazer.com

$165,430,000 $121,520,000 36.13%

86

2010

Andrew Park, Forrest Eleazer managing partners

Contractors

commercial construction

43

KHS&S Contractors 5422 Bay Center Drive, Suite 200, Tampa 33609 813-628-9330; KHSS.com

$153,700,000 $135,233,022 13.66%

334

1984

Michael Cannon CEO/chairman

Construction

Interior/exterior construction, themed construction, specialty finishes, rockwork, lean construction, design-assist, BIM and prefabrication.

44

The Bank of Tampa 601 Bayshore Blvd., Suite 100, Tampa 33606 813-872-1200; bankoftampa.com

$147,492,000 $138,438,000 6.54%

284

1973

T. Corey Neil president, CEO

Banking/Finance/Investment

financial services

45

Sanwa Food Group 2801 E. Hillsborough Ave., Tampa 33610 813-642-5159; sanwafoodgroup.com

$128,690,000 $128,010,000 0.53%

235

1981

Wes Pinkerton CEO

Food Distribution

Deliver products to restaurants, markets, theme parks, casinos, etc. and retail farmers market

46

Halfacre Construction Co. 7015 Professional Parkway E., Sarasota 34240 941-907-9099; halfacreconstruction.com

$125,000,000 $65,000,000 92.31%

60

1970

Jack Cox president

Construction

Commercial general construction

47

Wright Construction Group 5811 Youngquist Road, Fort Myers 33912 239-481-500; wcgfl.com

$122,000,000 $106,000,000 15.09%

63

1946

Fred Edman president

Construction

Construction management, general contractor

48

Summit Design + Build 100 S. Ashley Drive, Suite 320, Tampa 33602 813-549-6060; summitdb.com

$119,730,000 $120,000,000 -0.23%

60

2005

Adam Miller president

Construction

Commercial multifamily and adaptive reuse

49

PostcardMania 2145 Sunnydale Blvd., Building 102, Clearwater 33765 727-441-4704; postcardmania.com

$119,100,000 $104,600,000 13.86%

388

1998

Joy Gendusa Founder/CEO

Marketing

Direct mail, programmatic direct mail

50

Frank Winston Crum Insurance 100 S. Missouri Ave., Clearwater 33756 727-799-1150; fwci.com

$105,310,000 $90,530,000 16.33%

154

2003

Matt Crum president

Insurance

Workers comp, general liability, inland marine, excess liability Sources: Companies self-report data

20

BUSINESS OBSERVER

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110 449126-1

THE LISTS

PUBLIC COMPANIES

22

Company

2024 Revenue 2023 Revenue % Change

1

TD Synnex (SNX) 16202 Bay Vista Drive, Bay Vista Business Park Clearwater 33760; 510-668-3400; tdsynnex.com

$58,452,436,000 $57,555,416,000 1.56%

$689,091,000

2

Jabil Inc. (JBL) 10800 Roosevelt Blvd. N., St. Petersburg 33716 727-577-9749; jabil.com

$28,883,000,000 $34,702,000,000 -16.77%

3

Raymond James Financial Inc. (RJF) 880 Carillon Parkway, St. Petersburg 33716 727-567-1000; raymondjames.com

4

2024 Net Profit Leader

Industry

Line of business

Patrick Zammit, CEO

Technology

leading distributor and solutions aggregator for the IT ecosystem

$1,388,000,000

Michael Dastoor, CEO

Manufacturing

global manufacturing, engineering and supply chain solutions provider

$12,821,000,000 $11,619,000,000 10.35%

$2,063,000,000

Paul C. Reilly, Chairman and CEO

Banking/ Finance/ Investment

wealth management

Crown Holdings Inc. (CCK) 14025 Riveredge Drive, Suite 300, Tampa 33637 215-698-5100; crowncork.com

$11,801,000,000 $12,010,000,000 -1.74%

$424,000,000

Timothy Donahue, President and CEO

Packaging

packaging for consumer goods and industrial products

5

The Mosaic Co. (MOS) 101 E. Kennedy Blvd., #2500, Tampa 33602 800-918-8270; mosaicco.com

$11,122,800,000 $13,696,100,000 -18.79%

$174,900,000

Bruce M. Bodine Jr., CEO, President and Director

Agriculture

concentrated phosphate and potash crop nutrient mining

6

Hertz Global Holdings Inc. (HTZ) 8501 Williams Road, Estero 33928 239-301-7000; hertz.com

$9,049,000,000 $9,371,000,000 -3.44%

-$2,862,000,000

W. Gil West, CEO

Business/ Consumer Services

leases vehicles and equipment

7

Roper Technologies Inc. (ROP) 6496 University Parkway, Sarasota 34240 941-556-2601; ropertech.com

$7,039,200,000 $6,177,800,000 13.94%

$1,549,300,000

L. Neil Hunn, President and CEO

Technology

software and engineered products and solutions

8

Bloomin’ Brands Inc. (BLMN) 2202 N. West Shore Blvd., Suite 500, Tampa 33607 813-282-1225; bloominbrands.com

$3,950,475,000 $4,168,160,000 -5.22%

-$52,036,000

Michael Spanos, CEO

Hospitality/ Restaurant

casual dining restaurant chain owner

9

Herc Holdings (HRI) 27500 Riverview Center Blvd., Suite 100, Bonita Springs 34134 239-301-1000; hercrentals.com

$3,568,000,000 $3,282,000,000 8.71%

$211,000,000

Lawrence H. Silber, President, CEO and Director

Business/ Consumer Services

equipment rental supplier

10

SouthState Bank (SSB) 1101 First St. S., Winter Haven 33880 863-293-4710; southstatebank.com

$2,472,890,000 $2,261,950,000 9.33%

$565,300,000

Banking/ John C. Corbett, CEO Finance/ and Director Investment

loans and other financial services

11

MarineMax Inc. (HZO) 501 Brooker Creek Blvd., Oldsmar 34677 727-531-1700; marinemax.com

$2,431,008,000 $2,394,706,000 1.52%

$38,066,000

William Brett McGill, CEO, President and Director

Retailers

boat retailer

12

Kforce Inc. (KFRC) 1150 Assembly Drive, Suite 500, Tampa 33607 813-552-5000; kforce.com

$1,405,308,000 $1,531,756,000 -8.26%

$50,414,000

Joseph J. Liberatore, President, CEO and Director

Business/ Consumer Services

professional staffing and solutions firm providing strategic partnership in technology and finance and accounting services

13

The Baldwin Group (BRP) 4211 W. Boy Scout Blvd., Tampa 33607 866-279-0698; baldwinriskpartners.com

$1,389,037,000 $1,218,555,000 13.99%

$41,081,000

Trevor Baldwin, CEO

Other

private risk management, personal insurance, Medicare, family office, commercial risk management, employee benefits, asset and income protection

14

ConMed Corp. (CNMD) 11311 Concept Blvd., Largo 33773 727-392-6464; conmed.com/en

$1,307,015,000 $1,244,744,000 5.00%

$132,423,000

Patrick Beyer, President and CEO

Technology, Health Care

medical technology company that designs and sells surgical devices and patient monitoring products

15

HCI Group Inc. (HCI) 3802 Coconut Palm Drive, Tampa 33619 813- 849-9500; hcigroup.com

$1,083,220,000 $765,512,000 41.50%

$127,600,000

Paresh Patel, CEO and Chairman

Business/ Consumer Services

InsurTech company with operations in insurance, software development and real estate

16

First Watch (FWRG) 8725 Pendery Place, Suite 201, Bradenton 34201 941-907-9800; firstwatch.com

$1,004,355,000 $877,092,000 14.51%

$18,925,000

Christopher A. Tomasso, President, CEO and Director

Hospitality/ Restaurant

daytime cafe serving breakfast and brunch

17

Lazydays (LAZY) 4042 Park Oaks Blvd., Suite 350, Tampa 33601 813-246-4999; lazydays.com

$871,562,000 $1,082,747,000 -19.50%

-$180,000,000

Ron Fleming, Interim CEO

Retailers

RV sales, service, parts, accessories financing and insurance and RV campground

18

Slide Insurance Holdings Inc. (SLDE) 4221 W. Boy Scout Blvd., Suite 200, Tampa 33607 800-748-2030; slideinsurance.com

$846,800,000 $468,530,000 80.74%

$201,000,000

Bruce Lucas, Founder and CEO

Insurance

property insurance company aiming to help coastal homeowners secure coverage and manage their policies

19

Heritage Insurance Holdings Inc. (HRTG) 1401 N. Westshore Blvd., Tampa 33607 727-362-7200; heritagepci.com

$816,985,000 $735,498,000 11.08%

$61,539,000

Ernesto Garateix, CEO

Banking/ Finance/ Investment

provides home, condominium, rental and commercial residential insurance

20

Helios Technologies (HLIO) 7456 16th St. E., Sarasota 34243 941-362-1200; sunhydraulics.com

$805,900,000 $835,600,000 -3.55%

$39,000,000

Sean Bagan, President and CEO

Manufacturing

designer and manufacturer of hydraulic-cartridge valve

21

Pacira Biosciences Inc. (PCRX) 5401 W. Kennedy Blvd., Tampa 33609 813-553-6680; pacira.com

$700,966,000 $674,978,000 3.85%

-$99,560,000

Frank Lee, Director and CEO

Health Care

pharmaceutical company that provides non-opioid pain management and regenerative health solutions

22

NeoGenomics Inc. (NEO) 9490 NeoGenomics Way, Fort Myers 33912 239-768-0600; neogenomics.com

$660,566,000 $591,643,000 11.65%

-$78,726,000

Christopher M. Smith, Director and CEO

Health Care

cancer genetic testing laboratory

23

Superior Group of Cos. (SGC) 200 Central Ave., Suite 2000, St. Petersburg 33701 727-397-9611; superioruniformgroup.com

$565,676,000 $543,302,000 4.12%

$12,004,000

Michael Benstock, CEO

Manufacturing

designs, manufactures and sells uniforms and apparel

24

Webull Corp. (BULL) 200 Carillon Parkway, St. Petersburg, 33716 917-725-2448; webullcorp.com

$390,229,672 $389,602,570 0.16%

-$23,183,000

Anquan Wang, Chairman and CEO

Banking/ Finance/ Investment

financial services

BUSINESS OBSERVER

BusinessObserverFL.com ■ SEPTEMBER 2025

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For more than four decades, APG has been committed to building relationships based

ELECTRIC

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TECHNOLOGY LIFE SAFETY SECURITY

THE LISTS

PUBLIC COMPANIES Company

2024 Revenue 2023 Revenue % Change

25

American Coastal Insurance Corp. (ACIC) 570 Carillon Parkway, Suite 100, St. Petersburg 33716 727-633-0851; amcoastal.com

$296,657,000 $264,400,000 12.20%

$76,319,000

26

Beasley Media Group Inc. (BBGI) 3033 Riviera Drive, Suite 200, Naples 34103 239-263-5000; bbgi.com

$240,291,000 $247,109,000 -2.76%

27

American Integrity Insurance Group Inc. (AII) 5426 Bay Center Drive, Suite 600, Tampa 33609 813-880-7000; aii.com

28

2024 Net Profit Leader

Industry

Line of business

Brad Martz, President and CEO

Business/ Consumer Services

insurance company that underwrites commercial and personal property and casualty policies

-$5,900,000

Caroline Beasley, CEO and Director

Entertainment/ Media/ Publishing

radio broadcasting group

$204,350,000 $200,870,000 1.73%

$29,087,000

Robert Ritchie, CEO

Insurance

insurance company that specializes in Florida, Georgia, and South Carolina home insurance, while offering other insurance products

Sila Realty Trust Inc. (SILA) 1001 Water St., Tampa 33602 813-287-0101; silarealtytrust.com

$186,856,000 $189,065,000 -1.17%

$42,657,000

Michael Seton, CEO, Director and President

Real Estate Investment Trust

real estate investment trust that invests in healthcare properties

29

BayFirst National Bank (BAFN) 700 Central Ave, St. Petersburg 33701 727-440-6848; firsthomebank.com

$143,228,000 $118,270,000 21.10%

$13,229,000

Thomas G Zernick, CEO

Banking/ Finance/ Investment

Loans and other financial services

30

Rumble Inc. (RUM) 444 Gulf of Mexico Drive, Longboat Key 34228 941-210-0196; rumble.com

$95,488,190 $80,963,451 17.94%

-$338,362,779

Chris Pavlovski, Chairman and CEO

Technology

online video platform and cloud service company

31

Zeo Energy Corp. (ZEO) 7625 Little Road, Suite 200A, New Port Richey 34654 727-375-9375; zeoenergy.com

$73,244,000 $109,691,000 -33.23%

-$9,872,000

Timothy Bridgewater, CEO and Director

Construction

focused on residential solar, distributed energy, and energy efficiency solutions

32

Innovative Food Holdings (IVFH) 9696 Bonita Beach Road, Suite 208, Bonita Springs 34135 239-596-0204; ivfh.com

$72,134,000 $70,389,000 2.48%

$2,532,583

Robert William Bennett, CEO and Director

Distributor/ Wholesalers

wholesaler and retailer of perishables and specialty food products

33

Apyx Medical Corp. (APYX) 5115 Ulmerton Road, Clearwater 33760 727-384-2323; apyxmedical.com

$48,102,000 $52,349,000 -8.11%

-$23,463,000

Charles D. Goodwin, CEO and Director

Technology, Health Care

Helium plasma technology

34

Alico (ALCO) 10070 Daniels Interstate Court, Suite 200, Fort Myers 33913 239-226-2000; alicoinc.com

$46,643,000 $39,846,000 17.06%

$6,973,000

John E. Kiernan, Director, President and CEO

Agriculture

land management, agriculture, mining and development

35

SRX Health Solutions (SRXH) (formerly Better Choice Company Inc.) 13553 State Road 54 Suite #237, Odessa 33556 212-896-1254; srxhealth.com

$34,975,000 $38,592,000 -9.37%

-$168,000

Kent Cunningham, CEO

Health Care

provides healthcare solutions

36

Cryo-Cell International Inc. (CCEL) 700 Brooker Creek Road, Suite 1800, Oldsmar 34677 813-749-2100; cryo-cell.com

$31,986,106 $31,343,695 2.05%

David Portnoy, $402,095 Chairman and Co-CEO

Health Care

stem cell blood bank and related research

37

Upexi Inc. (UPXI) 3030 N. Rocky Point Drive, Tampa 33607 701-353-5425; upexi.com

$26,000,652 $36,441,695 -28.65%

-$23,658,438

Allan Marshall, CEO and Chairman

Banking/ Finance/ Investment

develops, manufactures, and distributes consumer products, and has a cryptocurrency portfolio

38

Wellgistics Health Inc. (WGRX) 3000 Bayport Drive, Suite 950, Tampa 33607 844-203-6092; wellgistics.com

$18,128,831 $0 N/A

-$6,856,226

Brian Norton, CEO

Health Care

provides pharmacies with innovative and cost-effective distribution solutions

39

Naples Soap Co. (NASO) 14601 Jetport Loop, Suite 180, Fort Myers, 33913 (239) 325-8263; naplessoap.com

$12,400,000 $12,300,000 0.81%

-$2,000,000

Deanna Wallin, CEO and founder

Retail, Lifestyle, Personal Care

Sells personal care products, including soaps, bath bombs, hair care, facial care, scented candles and essential oils

40

LM Funding America (LMFA) 1200 Platt Street, Suite 100, Tampa 33602 813-222-8996; lmfunding.com

$10,999,648 $12,984,090 -15.28%

-$7,315,376

Bruce M. Rodgers, Chairman, CEO and President

Banking/ Finance/ Investment

technology-based specialty finance company offering unique funding solutions to community associations

41

Generation Income Properties Inc. (GIPR) 401 E. Jackson St., Suite 3300, Tampa 33602 813-448-1234; gipreit.com

$9,762,636 $7,632,600 27.91%

-$4,872,888

David Sobelman, CEO and Chairman

Real Estate Investment Trust

REIT that builds generational, sustainable wealth through high-quality, single-tenant properties across retail, industrial, and office sectors

42

Invo Bioscience (INVO) 5582 Broadcast Court, Sarasota 34240 978-878-9505; invobioscience.com

$6,532,000 $3,020,575 116.25%

-$9,095,838

Steven Shum, Director and CEO

Health Care

medical device company focused on creating simplified, lower cost treatments for patients diagnosed with infertility

43

OriginClear (OCLN) 13575 58th St. N., Suite 200, Clearwater 33760 727-440-4603; originclear.com

$5,541,635 $6,708,178 -17.39%

-$18,970,789

T. Riggs Eckelberry, CEO, Chairman

Other

self-reliant water revolution, connecting investors with water projects, commercializes modular, prefabricated, filter-free advanced systems for sanitation

44

Procyon Corp. (PCYN) 164 Douglas Road, Oldsmar 34677 727-447-2998; procyoncorp.com

$4,984,433 $4,686,659 6.35%

-$341,140

Justice W. Anderson, Director and CEO

Health Care

manufactures and markets skin and wound care supplies

45

Odyssey Marine Exploration Inc. (OMEX) 205 S. Hoover Blvd., Suite 210, Tampa 33609 813-876-1776; odysseymarine.com

$768,677 $803,799 -4.37%

$15,657,934

Mark D. Gordon, CEO and Chairman

Other

deep-sea discovery

46

Scienture Holdings Inc. (SCNX) 6308 Benjamin Road, Suite 708, Tampa 33634 800-261-0281; scientureholdings.com

$136,643 $1,363,830 -89.98%

-$18,778,876

Suren Ajjarapu, Chairman, CEO, and Secretary

Health Care

pharmaceuticals

47

TuHURA Biosciences Inc. (HURA) 10500 University Center Drive, Suite 110, Tampa 33612 813-875-6600; tuhurabio.com

$0 $0 N/A

-$22,600,000

James Bianco, CEO and Director

Health Care

immuno-oncology company developing novel technologies to overcome resistance to cancer immunotherapy

48

Oragenics Inc. (OGEN) 1990 Main St., Suite 750, Sarasota 34326 813-286-7900; oragenics.com

$0 $37,653 -%100

-$10,567,918

Joseph Michael Redmond, Interim CEO and President

Health Care

developing drugs and therapies focused on nasal delivery of pharmaceutical medications in neurology with a primary focus on concussions

Notes: Primo Water Corp merged with BlueTriton Brands in November 2024 | Overseas Shipholding Group acquired by Saltchuk Resources in July 2024 | Digital Media Solutions acquired by BlackRock in February 2025

24

BUSINESS OBSERVER

Source: SEC fillings

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THE LISTS

TOP 50 CONTRACTORS

26

2024 Revenue

2023 Revenue

% gain or loss

Naples

Top Executives Larry Rooney, president: Mike Miller, Manhattan Construction Co. vice president

$1,800,000,000

$1,780,000,000

1.11%

Power Design Inc.

St. Petersburg

Mitch Permuy, CEO; Joe Micallef, COO; Lauren Permuy, chief growth officer

$1,300,000,000

$1,200,000,000

7.69%

3

RIPA & Associates

Tampa

Chris LaFace, president and CEO; Frank Ripa, owner

$646,000,000

$493,000,000

23.68%

4

DeAngelis Diamond

Naples

David Diamond, CEO and co-founder; John DeAngelis, president and co-founder

$590,000,000

$479,000,000

18.81%

5

Ajax Building Co.

Oldsmar

Bill Byrne, CEO; Jay Smith, president

$483,700,000

$398,000,000

17.72%

6

Owen-Ames-Kimball Co.

Fort Myers

Matthew Zwack, president; Abel Natali, director of preconstruction

$414,000,000

$436,000,000

-5.31%

7

Brooks and Freund LLC

Fort Myers

Richard Freund, manager; Joseph McClaran, director of project management

$266,280,000

$267,400,000

-0.42%

8

B&I Contractors Inc.

Fort Myers

Jason Grabowski, CEO; Brian Kelly, CFO

$247,000,000

$189,000,000

23.48%

9

Willis Smith Construction

Sarasota

F. John LaCivita, president and CEO; David E. Sessions, chairman

$231,390,000

$143,080,000

38.17%

10

Creative Contractors

Clearwater

Josh Bomstein, CEO and president; Alan Bomstein, founder

$195,000,000

$194,000,000

0.51%

11

Connor & Gaskins Unlimited

Naples

Barry Connor, founder and CEO; Craig Gaskins, founder and COO

$186,000,000

$173,000,000

6.99%

12

Crowther Roofing and Cooling

Fort Myers

Lee Scott Crowther, CEO; Kevin Callans, president

$181,390,000

$176,440,000

2.73%

13

Hawkins Construction Inc.

Tarpon Springs

Miguel Leyva, president; Todd Mullins, senior vice president

$175,000,000

$195,000,000

-11.43%

14

NDC Construction Co.

Bradenton

Ronald J. Allen, owner/chairman; Les Snyder II, CEO/president

$174,000,000

$142,000,000

18.39%

15

Park & Eleazer Construction LLC

Clearwater

Andrew Park, managing partner; Forrest Eleazer, managing partner

$165,430,000

$121,520,000

26.54%

16

KHS&S Contractors

Tampa

Michael Cannon, chairman/CEO; Erik Santiago, president

$153,700,000

$135,230,000

12.02%

17

Halfacre Construction Co.

Sarasota

Jack Cox (John J. Cox III), president

$125,000,000

$65,000,000

48.00%

18

Wright Construction Group Inc.

Fort Myers

Fred Edman, president/CEO; Mitch Bueltel, CFO

$122,000,000

$106,000,000

13.11%

19

Summit Design + Build

Tampa

Adam Miller, president and founder; Glenn Miles, vice president of project management

$119,730,000

$121,210,000

-1.24%

20

iConstructors LLC

Tampa

Michael Montecalvo, co-president; Kevin Murphy, co-president

$101,000,000

$92,000,000

8.91%

21

APG

Clearwater

Michael D. Henley, president; Chris Johnson, executive vice president

$98,640,000

$113,440,000

-15.00%

22

Bay To Bay Properties

Safety Harbor

Kate Rogers, COO; Joe Faw, managing member; Jerome Ciliento, managing member

$98,000,000

$80,000,000

18.37%

23

TLC Diversified Inc.

Palmetto

Dalas Lamberson, president

$93,000,000

$68,000,000

26.88%

24

Sutter Roofing

Sarasota

Brad Sutter, president; Jeffrey Block, CFO

$88,680,000

$82,780,000

6.65%

24

Florida Asphalt & Concrete

Tampa

Chris LaFace, president and CEO

$88,000,000

$71,000,000

19.32%

26

EnviroStruct

Bonita Springs

Neil Simon, president; Stephen McKenna, vice president

$81,000,000

$105,000,000

-29.63%

27

McIntyre Elwell & Strammer General Contractors, Inc.

Sarasota

Mark T. Freeman, president; Ryan McIntyre, vice president

$79,500,000

$90,700,000

-14.09%

28

Burgess Civil

Tampa

Ben Burgess, owner

$74,500,000

$54,850,000

26.38%

29

Woodruff & Sons Inc.

Bradenton

Donald Woodruff, president; Bruce Woodruff, vice president; Linda Wakeman, secretary/treasurer

$71,800,000

$71,600,000

0.28%

30

Gator Grading and Paving LLC

Palmetto

William K. Hicks, CEO; William E. Hicks, vice president and COO

$66,300,000

$44,900,000

32.28%

31

Westfall Roofing

Tampa

Kirk Westfall, founder; Ryan Westfall, president

$52,180,000

$46,270,000

11.33%

32

Heatherwood Construction Co.

Bonita Springs

Walter Crawford, owner and CEO

$52,000,000

$32,000,000

38.46%

33

R.E. Crawford Construction LLC

Sarasota

Jeff Smith, president; Utahna Smith, vice president

$49,130,000

$48,500,000

1.28%

34

TDS Construction Inc.

Bradenton

Christina Scherer Bock, CEO; Terri Scherer, president

$48,500,000

$74,700,000

-54.02%

35

Jon F. Swift Construction

Sarasota

Jason Swift, president; Jon Swift, CEO

$45,000,000

$30,000,000

33.33%

Company

Headquarters

1

Manhattan Construction Group

2

BUSINESS OBSERVER

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TOP CONTRACTORS

BIG BOOK OF BUSINESS 2023 Revenue

% gain or loss

Del Diaz, CEO

$39,590,000

$31,720,000

19.88%

Sarasota

Mark Williams, president; Matt Allen, vice president

$39,000,000

$30,000,000

23.08%

MY Shower Door / D3 Glass

Fort Myers

Bill Daubmann, president and founder; Keith Daubmann, vice president of sales and customer acquisition

$38,050,000

$39,680,000

-4.28%

39

Wallace Construction Group

St. Petersburg

Chuck Adair, CEO; Buddy Cole, COO; Thomas LoCicero, vice president

$32,710,000

$35,070,000

-7.21%

40

Adams Group

North Port

Ethan Adams, CEO

$31,000,000

$34,000,000

-9.68%

41

J2 Solutions Inc.

Venice

Jess Fronckowiak, CEO; David Fouche, president

$28,260,000

$25,960,000

8.14%

42

Magnum Builders

Sarasota

Michael L. Baltzer, president; Clint A. Riley, vice president

$27,870,000

$24,580,000

11.80%

43

Case Contracting Co.

Plant City

Timothy Walker Jr., president; Matthew Melanson, vice president of estimating

$27,540,000

$25,570,000

7.15%

44

Voeller Construction Inc.

Sarasota

Bill Voeller and Marc Alexander

$24,030,000

$32,820,000

-36.58%

45

Superior Pools

Port Charlotte

Jon Krawczyk, CEO; Ben Cook, general manager

$23,020,000

$21,280,000

7.56%

46

Masonry Builders Inc.

Tampa

Tom Bradley, president; Todd Bradley, vice president

$23,000,000

$25,000,000

-8.70%

47

Stellar Development

Sarasota

Maurice Opstal, president; Brian Ellis, vIce president; Trey Aria, director of field operations

$22,000,000

$22,000,000

0.00%

48

Partners Development and Construction Group

St. Petersburg

Jonathan Russell, president

$19,490,000

$5,800,000

70.24%

49

Absolute Aluminum

Venice

Dale DesJardins Jr., CEO; Adam Rankin, president

$18,460,000

$23,240,000

-25.89%

50

CASK Construction

St. Petersburg

Calin Noonan, co-founder and president; Chad Holman, co-founder and vice president of operations

$5,500,000

$3,000,000

45.45%

Headquarters

Top Executives

36

Diaz Fritz Group General Contractors

Temple Terrace

37

Mark Williams Construction

38

THE LISTS

2024 Revenue

Company

Sources: Companies self-report data

Atlas Builds.

Character isn’t a word.

It’s our blueprint.

Project:

Public Storage Cape Coral FL

SEPTEMBER 2025 ■ BusinessObserverFL.com

430272-1

941.315.9292 www.AtlasBuilds.com BUSINESS OBSERVER

31

THE LISTS

PATENTS, FLORIDA Company/Institution 1 Magic Leap Inc. 2 Carrier Corp.

3 Citrix Systems 4 University of Florida Research Foundation 5 University of South Florida 6 Florida International University Board of Trustees 7 University of Central Florida Research Foundation 8 Sensormatic Electronics 9 Arthrex 10 Mako Surgical Corp.

1 2 3 4 5 6 7 8 9

Company/Institution Magic Leap Inc. Carrier Corp.

University of Florida Research Foundation University of South Florida Mako Surgical Corp.

University of Central Florida Research Foundation The Florida International University Board of Trustees Jabil Inc. The ADT Security Corp.

Based Plantation Palm Beach Fort Lauderdale Gainesville Tampa Miami Orlando Boca Raton Naples Weston

Patents issued 2020-2024 1,526 1,231 1,040 698 486 291 286 250 243 221

Patents held 1,831 3,864 2,408 2,142 1,863 504 1,003 850 762 382

Headquarters Plantation Palm Beach Gainesville Tampa Weston Orlando Miami St. Petersburg Boca Raton

Patents issued 2024 291 234 120 83 67 66 55 53 48

Total patents held 1,831 3,864 2,142 1,863 382 1003 504 196 91 Source: United States Patent and Trademark Office

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BUSINESS OBSERVER

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THE LISTS

LARGEST BANKS Bank

CEO Name

2024 revenue

2023 revenue

% Growth

1

SouthState Bank, National Association 1101 First St. S., Winter Haven 33880 800-277-2175; SouthStateBank.com

John C. Corbett, CEO and Director

$2,472,890,000

$2,261,950,000

9.33%

2

Raymond James Bank, National Association 710 Carillon Parkway, St. Petersburg 33716 727-567-8000; RaymondJamesBank.com

Amanda Stevens, CEO

$2,221,585,000

$2,204,891,000

0.76%

3

FineMark National Bank & Trust 8695 College Parkway, Fort Myers 33919 877-461-5901; FineMarkBank.com

Joseph R. Catti, Chairman and CEO

$222,706,000

$176,470,000

26.20%

4

The Bank of Tampa 601 Bayshore Blvd., Suite 100, Tampa 33606 813-872-1200; BankOfTampa.com

T. Corey Neil, President and CEO

$147,492,000

$138,438,000

6.54%

5

BayFirst National Bank 700 Central Ave., St. Petersburg 33701 727-440-6848; FirstHomeBank.com

Thomas G. Zernick, CEO

$143,228,000

$118,270,000

21.10%

6

TCM Bank, National Association 3501 E. Frontage Road, Tampa 33607 888-640-1092; ICBABanCard.org

Jacob Eisen, CEO

$77,102,000

$78,719,000

-2.05%

7

Citizens Bank and Trust 2 East Wall St., Frostproof 33843 863-635-2244; Citizens-Bank.com

Greg Littleton, President and CEO

$64,334,000

$57,121,000

12.63%

8

Sanibel Captiva Community Bank 2406 Periwinkle Way, Sanibel 33957 239-472-6100; SanCapBank.com

Kyle DeCicco, President and CEO

$60,219,000

$51,269,000

17.46%

9

Bank of Central Florida 5015 South Florida Ave., Lakeland 33813 863-701-2685; BankOfCentralFlorida.com

Paul J. Noris, Chairman and CEO

$57,945,000

$47,878,000

21.03%

10

Climate First Bank 182 37th Ave. N., St. Petersburg 33704 727-335-0500; ClimateFirstBank.com

Ken LaRoe, CEO, Chairman and Founder

$49,584,000

$24,806,000

99.89%

11

Flagship Bank 29750 U.S. Highway 19 N., Clearwater 33761 727-451-2020; FlagshipBank.com

David Key, President and CEO

$36,377,000

$30,511,000

19.23

12

Members Trust Co. 14055 Riveredge Drive, Suite 525, Tampa 33637 888-727-9191; MembersTrust.com

Kenneth E. Lako, President and CEO

$30,862,000

$30,678,000

0.60%

13

Edison National Bank 13000 South Cleveland Ave., Fort Myers 33907 239-466-1800; EdisonNationalBank.com

Geoffrey W. Roepstorff, CEO

$19,785,000

$22,056,000

-10.30%

14

Central Bank 20701 Bruce B. Downs Blvd., Tampa 33647 813-929-4477; CentralBankFL.com

John Thompson, President and CEO

$18,995,000

$16,710,000

13.67%

15

First National Bank of Pasco 13315 U.S. Highway 301 S., Dade City 33525 352-521-0141; FNBPasco.com

Paula O’Neil, Interim President and CEO

$18,274,000

$15,419,000

18.52%

16

Gulfside Bank 333 N. Orange Ave., Sarasota 34236 941-303-4200; GulfsideBank.com

Dennis B. Murphy Jr., President and CEO

$16,243,000

$13,817,000

17.56%

17

Waterfall Bank 500 Mclennan St., Clearwater 33756 727-472-3599; WaterfalllBank.com

Kevin Darmody, President and CEO

$15,561,000

$8,486,000

83.37%

18

Gulf Coast Business Bank 12205 Metro Parkway, Fort Myers 33966 239-345-2265; GCBBSWFL.com

William Blevins, President and CEO

$6,453,000

$4,182,000

54.30%

19

Century Bank of Florida 716 W. Fletcher Ave., Tampa 33612 813-961-3300; CenturyBK.com

Jose Vivero, Chairman and CEO

$6,152,000

$5,751,000

6.97%

Sources: Individual banks, Federal Deposit Insurance Corp.

34

BUSINESS OBSERVER

BusinessObserverFL.com ■ SEPTEMBER 2025

CREDIT UNIONS 1 2 3 4 5 6 7 8 9 10

Credit Union Suncoast Credit Union MidFlorida Credit Union Grow Financial Federal Credit Union GTE Financial Achieva Credit Union Publix Employees Federal Credit Union USF Federal Credit Union Florida Central Credit Union Trax Credit Union Tampa Bay Federal Credit Union

Headquarters Tampa Lakeland Tampa Tampa Dunedin Lakeland Temple Terrace Tampa Tampa Tampa

2024 assets $17,839,722,691 $8,141,992,045 $3,716,076,941 $2,942,686,570 $2,897,086,645 $1,539,737,089 $1,204,304,253 $600,540,255 $504,480,575 $440,112,675

2023 assets $17,406,484,218 $7,523,425,887 $3,519,826,355 $2,965,261,113 $2,815,477,380 $1,444,392,971 $1,120,498,758 $595,019,059 $474,202,655 $431,633,969

Change 2.49% 8.22% 5.58% -0.76% 2.90% 6.60% 7.48% 0.93% 6.39% 1.96%

1 2 3 4 5 6 7 8 9 10

Members Suncoast Credit Union MidFlorida Credit Union Grow Financial Federal Credit Union GTE Financial Achieva Credit Union Publix Employees Federal Credit Union USF Federal Credit Union Trax Credit Union Florida Central Credit Union Tampa Bay Federal Credit Union

Headquarters Tampa Lakeland Tampa Tampa Dunedin Lakeland Temple Terrace Tampa Tampa Tampa

2024 members 1,272,024 476,720 280,898 233,617 202,882 117,114 75,687 44,873 42,704 34,562

2023 members 1,191,728 460,195 266,360 234,483 194,630 112,718 73,225 44,985 48,404 35,154

Change 6.73% 3.59% 5.46% 0.37% 4.24% 3.90% 3.36% -0.25% -11.78% -1.68%

THE LISTS

Source: National Credit Union Association

Source: Mapping.NCUA.gov/ResearchCreditUnion

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SEPTEMBER 2025 ■ BusinessObserverFL.com

BUSINESS OBSERVER

440159-1

Fort Myers Bonita Springs • Naples

Scott E. Atwood

35

INSURANCE

TOP 25 HOMEOWNERS INSURANCE POLICIES IN FORCE, 2024 1

THE LISTS

TOP 20 DIRECT PREMIUMS WRITTEN, RESIDENTIAL, FLORIDA

Company Citizens Property Insurance Corp.

Policies in force 687,502 400,834

2

State Farm Florida Insurance Co.

3

Universal Property & Casualty Insurance Co.

251,927

Premiums written, in millions $ 4,579.90

4

Slide Insurance Co.

236,627

5

Tower Hill Insurance Exchange

233,392

1

Company Citizens Property Insurance Corp.

6

Frontline/First Protective Insurance Co.

188,875

2

Universal Property & Casualty Insurance Co.

1,567.40

7

American Integrity Insurance Co. of Florida

167,738

3

State Farm Florida Insurance Co.

1,280.70

8

Progressive/ASI

157,951

4

Tower Hill Insurance Exchange

1,106.60

9

USAA

154,020

5

Slide Insurance Co.

1,039.60

10

Florida Peninsula Insurance Co.

114,437

6

Frontline/First Protective Insurance Co.

885.1

11

Edison Insurance Co.

112,957

7

American Integrity Insurance Co. of Florida

645.8

12

Southern Oak Insurance Co.

103,243 94,045

8

American Coastal Insurance Co.

642.7

13

Heritage Property & Casualty Insurance Co.

9

Florida Peninsula Insurance Co.

618.4

14

Allstate/Castle Key

87,260

10

Edison Insurance Co.

571

15

Kin Interinsurance Network

84,660

11

Homeowners Choice Property & Casualty Insurance Co.

507.8

16

Auto Club Insurance Co. of Florida (AAA)

73,905

12

Olympus Insurance Co.

447.2

17

Security First Insurance Co.

69,741

13

Security First Insurance Co.

437.9

18

Homeowners Choice Property & Casualty Insurance

68,747

14

Kin Interinsurance Network

410.2

19

Olympus Insurance Co.

66,428

15

Heritage Property & Casualty Insurance Co.

402.4

20

Monarch National Insurance Co.

64,643

16

Monarch National Insurance Co.

382.9

21

People's Trust Insurance Co.

62,803

17

TypTap Insurance Co.

334.2

22

TypTap Insurance Co.

58,199

18

Allstate/Castle Key

319.9

23

Loggerhead Reciprocal Interinsurance Exchange

47,284

19

Southern Oak Insurance Co.

313.2

24

Florida Family Insurance

44,397

20

ASI Preferred Insurance Corp.

307.7

25

Florida Farm Bureau Casualty Insurance Co.

36,654

Source: S&P Global Market Intelligence

BIG JUST RELEASED!

2025

BOOK OF BUSINESS

Source: Florida Office of Insurance Regulation

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TOP EMPLOYERS BY COUNTY CHARLOTTE COUNTY

THE LISTS

Employer

COLLIER COUNTY Employer

Employees

HILLSBOROUGH COUNTY Employer

Employees

Employees

1

Charlotte County

2,655

1

Collier County Public Schools

5,987

1

Publix

46,500

2

Charlotte County Public Schools

2,333

2

Naples Community Hospital

4,385

2

Baycare Health System

32,000

3

Bayfront Health

1,322

3

Arthrex

4,274

3

Hillsborough County School District

22,680

4

Publix

1,228

4

Publix Super Markets

3,406

4

HCA West Florida Division

21,000

5

HCA Florida Fawcett Hospital

1,162

5

Collier County

2,692

5

MacDill Air Force Base

16,900

6

Walmart

976

6

Collier County Sheriff's Office

1,503

6

University of South Florida

15,837

7

Community Health Systems

700

7

JW Marriott Island - Marco Island

1,130

7

AdventHealth West Florida Division

12,000

8

Sun News Media

398

8

The Ritz-Carlton

1,100

8

Hillsborough County

10,093

9

Millennium Physician

368

9

Seminole Casino — Immokalee

900

9

Tampa General Hospital

10,000

10 Winn-Dixie Stores Inc.

351

10 City of Naples

529

10 H. Lee Moffitt Cancer Center & Research Inst.

Source: Charlotte County Economic Development

LEE COUNTY

Source: Collier County Clerk’s Office

MANATEE COUNTY

Employer

Employer

Employees

9,000

Source: Hillsborough County Clerk’s Office

PASCO COUNTY Employees

Employer

Employees

1

Citigroup

8,400

1

Manatee County School Board

5,804

1

Pasco County Public Schools

13,033

2

Lee County School District

12,000

2

Publix

2,840

2

Pasco County government

31,75

3

Lee County (local government entities)

9,533

3

Manatee Healthcare System

2,344

3

HCA Healthcare

2,959

4

Publix

5,726

4

Bealls

2,165

4

State of Florida

1,860

5

Chico's FAS Inc.

3,938

5

Manatee County Government

2,097

5

BayCare Morton Plant North Bay Hospital

1,835

6

Herc Rentals

2,400

6

Blake Medical Center

1,471

6

Florida Medical Clinic

1,300

7

Amazon

2,200

7

Manatee County Sheriff's Department

1,150

7

AdventHealth Wesley Chapel

1,260

8

Gartner

2,100

8

IMG Academy

1,100

8

HCA Florida Bayonet Hospital

1,134

9

Florida Gulf Coast University

1,778

9

State College of Florida, Manatee-Sarasota

946

9

Federal government

1,070

10 Shell Point Retirement Community

1,546

10 Tropicana Products

500

10 Pasco County Sheriff's Office

PINELLAS COUNTY Employer

Source: Pasco Economic Development Council

Source: Manatee County Clerk’s Office

Source: Lee County Clerk’s Office

POLK COUNTY Employer

Employees

1,035

SARASOTA COUNTY Employees

Employer

Employees

1

Pinellas County Public School District

13,071

1

Publix

21,618

1

Sarasota Memorial Hospital

10,597

2

Publix

7,641

2

Polk County School Board

13,500

2

School Board of Sarasota County

6,445

3

U.S. Department of Veterans Affairs

5,055

3

Lakeland Regional Health

7,865

3

Publix

4,620

4

Walmart

4,809

4

Walmart

*5,523

4

Sarasota County

2,812

5

Raymond James & Associates

4,541

5

Amazon

5,500

5

PGT Innovations*

2,615

6

All Children's Health Systems

3,767

6

GEICO

3,000

6

Walmart

1,442

7

City of St. Petersburg

3,716

7

BayCare

3,332

7

City of North Port

900

8

Morton F Plant Hospital

3,196

8

City of Lakeland

2,696

8

City of Sarasota

875

9

Mease Hospital Trustees

2,550

9

Polk County

2,270

9

Target

636

10 Baycare Health System

2,498

10 Polk County Sheriff's Office

1,950

10 Lowe's Home Centers

Source: Pinellas Economic Development

SEPTEMBER 2025 ■ BusinessObserverFL.com

* Numbers previously reported from 2023 Source: Central Florida Development Council

555 *PGT is now a subsidiary of Miter Brands Source: Sarasota County Clerk’s Office

BUSINESS OBSERVER

37

THE LISTS

BIGGEST LAYOFFS Company

Location

1

Aramark Campus LLC

2

2025, through July 17 Layoffs

Date layoff announced

Tampa

949

April 8

Tampa Sportservic Inc.

Tampa

580

April 25

3

HSNi LLC and HSN Inc.

St. Petersburg

373

May 12

4

Wise U.S. Inc.

Tampa

306

Feb. 7

5

Legoland

Winter Haven

234

Jan. 24

6

e-TeleQuote Insurance

Tampa

218

Feb. 3

7

HSNi, LLC and HSN Inc.

St. Petersburg

145

March 27

8

Kindred Hospital East LLC

Tampa

143

Feb. 27

9

Exceed LLC

St. Petersburg

119

June 2

10

Bellwether Beach Resort

St. Pete Beach

107

Jan. 27

11

Interstate Management Company LLC (dba Aimbridge Hospitality)

Sarasota

101

March 26

12

GroundGame.Health Inc.

Tampa

97

May 12

13

Bahama Breeze

Naples

68

May 15

14

Amerant Mortgage LLC

Lakeland

58

April 24

15

Mizkan America Inc.

Lake Alfred

57

July 17

16

Eckerd Connects

St. Petersburg

47

June 3

17

Primo Brands Inc.

Lakeland

39

March 5

18

Merlin Magic Shop

Lake Wales

31

April 1

* Layoffs of 30 or more employees were included; layoffs not submitted to state officials are not part of the list.

Source: Florida Department of Commerce WARN notices

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BY AN EXCEPTIONAL TEAM

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DOC STAMPS

THE LISTS

1 2 3 4 5 6 7 8 9 10

County Charlotte Manatee Pasco Lee Sarasota Polk Collier State of Florida Pinellas Hillsborough

2019-2020 $16,361,587.12 $39,095,157.00 $36,744,859.20 $75,408,548.60 $54,475,772.90 $41,899,885.85 $73,122,674.80 $1,679,140,145 $79,046,613.70 $106,542,266.60

2020-2021 $28,855,813.70 $61,832,031.10 $53,385,731.71 $130,075,298.50 $89,316,410.00 $56,414,253.36 $134,547,633.70 $2,459,518,034 $111,150,581.20 $132,527,389.05

2021-2022 $39,023,421.81 $83,637,026.90 $73,877,020.00 $168,509,979.10 $103,947,882.35 $86,239,332.05 $152,849,145.40 $3,366,124,874 $137,591,691.30 $189,117,733.68

2022-2023 $30,772,254.08 $69,518,463.70 $66,814,358.81 $123,808,031.20 $83,479,586.41 $70,925,141.08 $115,175,032.00 $2,471,318,511.64 $102,206,489.50 $135,292,652.78

2023-2024 $33,321,934.80 $75,475,115.10 $66,220,476.70 $116,946,362.40 $87,071,448.10 $64,760,029.08 $110,198,364.50 $2,374,365,951.02 $97,907,362.70 $125,272,764.30

Doc stamps are excise taxes imposed on certain documents executed, delivered or recorded in Florida. Ranked in order of five-year growth rate.

Source: Florida Department of Revenue

LARGEST COLLEGES College

Enrollment

College

5-year Growth 103.65% 93.05% 80.21% 59.93% 59.80% 54.55% 50.70% 41.40% 23.86% 17.58%

By enrollment for 2024-2025 academic year, unless specified

Enrollment

College

Enrollment

1

University of South Florida

49,738

7

Florida SouthWestern State College

14,358

13

Eckerd College

1,878

2

Hillsborough Community College

46,088

8

Southeastern University

11,763

14

Florida Polytechnic University

1,770

3

St. Petersburg College

4

St. Leo University

5 6

34,111

9

University of Tampa

32,000-plus

10

State College of Fla., Manatee-Sarasota

11,429

15

Ringling College of Art and Design

1,666

10,000-plus

16

Ave Maria University

1,379

Florida Gulf Coast University

16,633

11

Pasco-Hernando State College

9,653

17

Warner University

894

Polk State College

14,884

12

Florida Southern College

3,386

18

New College of Florida

Notes: St. Leo University and Ringling College data is from 2023-2024; St. Petersburg College data is from 2022-2023; Pasco-Hernando State College; Warner University and New College of Florida data is from fall 2023. Webber International University in Babson Park, Polk County, didn’t respond to requests for data or report any in public documents.

732 Sources: Individual colleges and universities

Morgan Stanley is proud to congratulate

The Bellwether Group Named to Forbes’ Best-In-State Wealth Management Teams: 2023, 2024 & 2025 Being named to Forbes’ Best-In-State Wealth Management Teams list is a testament to your experience, focus, and dedication to your clients’ financial future.

Thank you for the work you do each day and for carrying forward the standard of excellence at our firm.

L-R: Rochelle A. Nigri, QPFC, Financial Advisor; Richard T. Williams III, CFA,® Senior Vice President, Financial Advisor; Aimee Cogan, CFP,® CIMA,® Managing Director—Wealth Management, Wealth Advisor; Scott Rockwell, Senior Vice President, Financial Advisor; Kathy Francoletti, Senior Vice President, Financial Advisor; Paul C Alexander, CRPC,® Vice President, Financial Advisor

The Bellwether Group at Morgan Stanley 2 North Tamiami Trail, Suite 1100 Sarasota, FL 34236 941-363-8515 advisor.morganstanley.com/thebellwether-group

CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the U.S.

2023, 2024, 2025 Forbes Best-In- State Wealth Management Teams Source: Forbes.com (2023, 2024, 2025) Forbes Best-In-State Wealth Management Teams ranking awarded in 2023, 2024 & 2025. Each ranking was based on an evaluation process conducted by SHOOK Research LLC (the research company) in partnership with Forbes (the publisher). This evaluation process concluded in March of the previous year the award was issued, having commenced in March of the year before that. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors paid a fee to SHOOK Research LLC, for placement on its rankings. This ranking is based on in-person and telephone due diligence meetings to evaluate each Financial Advisor qualitatively, a major component of a ranking algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the opinions of SHOOK Research LLC and may not be representative of any one client’s experience; investors must carefully choose the right Financial Advisor or team for their own situation and perform their own due diligence. These rankings are not indicative of the Financial Advisor’s future performance. Morgan Stanley Smith Barney LLC is not affiliated with SHOOK Research LLC or Forbes. For more information, see www.SHOOKresearch.com.

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447213-1

© 2025 Morgan Stanley Smith Barney LLC. Member SIPC.

39

Natalia Levey FOUNDER, HI HOSPITALITY GROUP

THE CHANGE-MAKERS

N

atalia Levey is fond of saying that in the restaurant and hospitality business, you are constantly “fighting for every second” of efficiency. That could be an internal software program that makes it easier for customers to pay checks. Or maybe something as simple as a better process for washing wine glasses.

That watch-every-second mentality has driven Levey, a native of Russia who moved to the States in 1999, to some lofty heights in the restaurant business. The Tampa-based company, Hi Hospitality Group, owns and operates four brands in the SarasotaManatee area. The list includes a pair of Speaks Clam Bar locations, one on St. Armands Circle in Sarasota, one in east Manatee County; Kojo, a modern Asian restaurant on Palm Avenue in downtown Sarasota that includes the company’s Bar Hana concept; and Palm Avenue Deli, a New York-style deli next door to Kojo. (“Think matzo ball soup that feels like a warm hug,” says the Palm Avenue Deli website.)

In addition to those locations, Hi Hospitality is working on its biggest project yet: Central Park St. Pete, a food hall on Central Avenue in the Sunshine City that spreads 28,000 square feet over five levels. Central Park will have 10 dining concepts, a rooftop bar, private dining, event spaces and a members-only club.

Customers, again with efficiency as the north star, will be able to order online, from a kiosk or with the help of a hospitality ambassador. That ranges from quick to-go service to a business lunch and leisure dining to watching a sporting event on the ginormous video wall TV that measures 22 feet wide by 12.4 feet tall. Central Park is expected to open some time this year, Levey says.

With all the locations, Levey, 47, says one overarching mission at the company is to bring people together.

“What we do is so much more than food and hospitality,” she says. “We’re

BE THE CHANGE Natalia Levey says her aim is to “co-create environments where we have fun and fearlessly implement new ideas, where team members feel valued and grow, where food is always delicious and where connections are meaningful.”

trying to create a better community.”

In addition to running the company, with some 260 employees, Levey is a forward-thinking change agent in the hospitality and food world.

She’s been a chef, author and keynote speaker, among other roles. She graduated from the Art Institute of New York, where she “learned how to properly char things in fancy ways,” she quips on her LinkedIn page; was a James Beard Foundation Women’s Leadership fellow in 2021; wrote a book, “Cravings Boss: The REAL Reason you Crave Food and a 5-Step Plan to Take Back Control,” in 2016; has traveled to more than 40 countries, many times on foodie-related trips; and is an advisory member of the The School of Hospitality and Sport Management at USF. “Curiosity has always driven me forward,” Levey said during a TedX Talk she presented at TedX Ocala in 2021. Her talk was entitled The Surprising Connection between Gut and Happiness. “I like formulas, recipes, blueprints, methods, procedures, algorithms. Clear paths to clear results.”

Her talk focused on using your gut not only to make decisions about life or work or family, but to feed it a diverse array of healthy and natural foods, akin to food as medicine.

“Culinary medicine is the future,” she said in her talk. “We can transform our kitchen into a happy playground.”

Levey has her eyes on other changes in the food and hospitality industry.

On Hi Hospitality, for starters, she has long sought to create a top place to work. “We spend so much time

Natalia Levey looks to elevate just about anything she is involved in, from cooking to creating five-story food halls.

40

BUSINESS OBSERVER

MARK WEMPLE

NATALIA LEVEY at Central Park St. Pete, a food hall on Central Avenue that, when it opens, will have 10 dining concepts. The list includes a rooftop bar, private dining, event spaces and a members-only club.

at work, you want to be proud of the people you work with and the place you work,” she says.

The intersection of hospitality and technology is also a key driver.

Hi Hospitality has worked with St. Pete-based Haddy, an AI-powered 3D printing manufacturer. Haddy has made planters, bussing stations and decorative pieces for the company, and Levey expects to do more of that in the coming months and years. And at the School of Hospitality at USF,

Levey has been working with professors and researchers on cutting edge 3D food manufacturing technology.

As important as technology is to the now, and future, of hospitality, Levey says part of the mission at Hi Hospitality is to not lose sight of providing a warm and inviting place for people to gather for food and drinks. “Restaurants will remain a central hub for human connection,” she says, “for at least the next 100 years.”

— MARK GORDON

BusinessObserverFL.com ■ SEPTEMBER 2025

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BE THE CHANGE

Jerel McCants FOUNDER, JEREL MCCANTS ARCHITECTURE INC.

THE CHANGE-MAKERS

S

egregation and Jim Crow laws have been justifiably relegated to the trash bin of U.S. history, but their specters remain present in some of the country’s built environments. Case in point: Tampa’s Union Station, which opened in 1912 and was constructed in an Italian Renaissance Revival style. But it also had a wall that segregated passengers according to their skin color.

“The wall was about 8 to 10 feet tall,” says Jerel McCants, a Tampa architect whose firm, Jerel McCants Architecture Inc., is leading a $6 million restoration of the station. “There were separate water fountains on both sides.

There were separate ticket counters, separate bathrooms. The left side was colored; the right side was whites only.”

Yet, once the train arrived, all passengers exited into an open communal embarkation space, where everyone mixed, proving that “sepa-

rate but equal” policies weren’t about pragmatic use of space.

“It made no sense,” says McCants, who also serves as vice president of Friends of Tampa Union Station, a nonprofit formed in 2008 to preserve the historic building. “It doesn’t hold up to any scrutiny.”

Tampa isn’t the only city reckoning with the injustices of its built environment. In Lexington, Kentucky, to cite one example, the 155-year-old Capitol has come under fire for its “bathroom disparity.” The Kentucky Statehouse’s third floor, home to the state’s House and Senate chambers, offers a measly two bathroom stalls for the Bluegrass State’s 41 female legislators, while restrooms for men are plentiful. A $300 million renovation project for that facility is underway, expected to be finished in 2028.

McCants, 52, has written and published a book, “Architecture of Segregation: The Hierarchy of Spaces

and Places,” about how the built environment can reinforce but also break down societal divisions. He says he’s always been fascinated by public spaces and how people interact with them, but conversations with his grandfather during his formative years inspired him to think more critically about the social underpinnings of architecture.

“He would talk about how he grew up and places where he could go and couldn’t go,” McCants says. “He had to go through the back door of some places. If he was sick and had to go to the doctor, the white patients would be seen first, and then they would get around to seeing the Black patients later.”

He adds, “That wasn’t my experience growing up, but it stuck with me through my developmental years.”

The Union Station overhaul, according to McCants, should be complete in early 2027, but the station, he says, “will remain functional while renovations are going on.” The

Jerel McCants wants to restore Tampa’s historic Union Station to its former glory while removing one key component: the segregation-era wall that divided whites and Blacks. The $6 million project is part of his effort to expose and reckon with the architecture of segregation, and to encourage other architects and property developers to rethink how our built environment can promote connection rather than division.

building — which fell into disrepair in the 1970s and ’80s, closing to the public in 1984 as interstate and air travel eclipsed rail — was previously renovated in 1998 to make it a viable Amtrak depot once again. Other modest upgrades, such as a 2002 restoration of the station’s baggage building, followed, but the notorious wall remained.

The new and improved Union Station, McCants adds, won’t ignore or

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BusinessObserverFL.com ■ SEPTEMBER 2025

A Tampa architect is on a mission to showcase how architecture can play a big role in how the built environment can positively shape society and societal norms.

JEREL MCCANTS, founder of Jerel McCants Architecture Inc., is leading a $6 million restoration of Tampa’s Union Station, which opened in 1912.

downplay the building’s checkered past.

“We have some signage and placards (from that era),” he says. “We might do a little artifact box. We

have old photos and drawings that we might mount on the walls where passengers wait.”

For Jerel McCants Architecture Inc. — which was founded in 2010,

grossed $1.5 million in revenue in 2024 and has seven employees, including four architects — Tampa Union Station is somewhat of an outlier in the firm’s portfolio: It mostly

THE CHANGE-MAKERS

MARK WEMPLE

does new commercial and residential builds. Some of its previous projects include St. Petersburg’s Par Bar, 81Bay Brewing Co. in South Tampa, Taps Restaurant, Bar & Lounge in Fort Lauderdale and CTV Capital headquarters in New Port Richey.

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43

BE THE CHANGE

David Hoffmann CHAIRMAN, HOFFMANN FAMILY OF COS.

THE CHANGE-MAKERS

W

hile much of the conversation about newspapers in the past 20 years has centered on job cuts, contraction and falling readership, there is an entrepreneur in Naples who sees a way to breathe new life into the troubled industry.

And he is putting his considerable wealth and the heft of his business empire behind it. That man is David Hoffmann, chairman and founder of the Hoffmann Family of Cos. Since 2022, Hoffmann has bought 14 media companies covering 30 markets, including in Michigan and Florida. Late last year, the company bought a 5% share of DallasNews Corp., the parent of The Dallas Morning News.

And in June, the company bought The Missourian, Hoffmann’s hometown

newspaper in Washington, Missouri.

The company is also one of the leading — top two — shareholders in Davenport, Iowa-based Lee Enterprises, which owns The St. Louis PostDispatch, among other publications, including 350 weekly and specialty publications. Hoffmann is trying to buy the newspaper chain outright.

And the company plans to continue growing its media holdings, with the goal of being “at worst, the second biggest newspaper chain” in the country.

“I think newspapers are the fabric of America,” Hoffmann says.

“When I first got into it, I thought even if I don’t make money, this is something that I want to do because I’m passionate about it and I can afford to not make millions of dollars on everything I invest in. But, to be hon-

David Hoffmann, who grew up in a small town with a strong local paper, believes the newspaper industry can bounce back with strong local coverage and sound business practices.

est, this investment has worked out beautifully.”

What Hoffmann has bought into is an industry well into a transformation from physical printed newspapers into digital delivery systems. This, at a time when readers have both more choices of where to get their news from, and who are engaging less with traditional media.

To say the shift has been difficult is an understatement.

Since 2005, more than 3,200 newspapers have closed in the U.S. according to an October report from Northwestern University’s Medill School of Journalism’s Local News Initiative.

And, during the year the report covers, the authors write, “500 of the largest daily and weekly newspapers in the United States have lost an estimated 2 million print and digital readers.”

Circulation, overall, has decreased by more than 60% since 2005. So, given those realities, why would anyone willingly invest in the industry?

Hoffmann admits even his two sons

David Hoffmann wants to build the largest — at worst second largest — newspaper chain in America. He says the Hoffmann Family of Cos. is well on its way to meeting that goal, having more than doubled the size of his company’s media holdings since its first purchase in 2022.

— co-CEOs of the family-run company — weren’t initially happy when he announced his plans.

But Hoffmann, who built an empire that currently owns more than 120 companies and employs 17,000, believes it is the right time to invest in the business and has a plan for it to rebound.

“Everything has a cycle. Everything has a bottom and things have a top,” Hoffmann says. “I think we’re at the bottom right now.”

What Hoffmann is banking on is that local residents still care about what is going on in their communities and that no one can deliver that news better than local, community

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cils, at schools, businesses and in courtrooms.

To that end, Hoffmann says the company is empowering local editors and publishers to make decisions based on their community’s specific needs and providing them the re-

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newspapers.

Readers, he believes, can get national and international news from several larger outlets. What they can’t get from anywhere other than a local paper is news about what’s happening on city and county coun-

smaller communities is really what we’re after. That’s what Lee offers us.”

As for the fundamental question about how readers want to read the stories created by his publications, Hoffmann believes people want that news both digitally and in print.

Many will read the news digitally, but Hoffmann can’t imagine a world where people aren’t interested in picking up a newspaper and seeing a picture of a local kid who just scored a touchdown or a local young woman who won a golf tournament.

While the frequency of when print editions are published may have to change, “as long as I’m around whatever newspapers we own there’s going to be a printed version along with the digital version of that as well.”

“I think the difference with our philosophy is that we think you can have both and there’s a happy balance,” he says.

“And I’m betting big on that. I’m betting millions and millions of dollars that I’m right. To the tune of more than a half-billion, I think. And I’m pretty confident in my investment.”

— LOUIS LLOVIO

THE CHANGE-MAKERS

DAVID HOFFMANN believes the lack of print newspapers covering local, community news is an opportunity for Hoffmann Media Group and the Hoffmann Family of Cos.

sources to allow them to do their jobs.

To be profitable, he says, advertising salespeople are incentivized with lower base salaries and bigger commissions and the company consolidates real assets. There are also small efficiencies that help turn a paper profitable. A small example is copy machines. If a paper operating out of a single floor has leases on four copiers, Hoffman gets rid of three of them.

There’s a lot the company does to make a paper profitable, Hoffmann says — and it isn’t all about cuts, either. Unlike many in the industry, Hoffmann’s papers are hiring journalists and — to his knowledge — have avoided layoffs. These hires are critical investments to do the kinds of reporting that will attract readers.

The focus on local coverage drives bigger-picture decisions as well.

“That’s why Lee is so interesting to us,” Hoffmann says.

The chain’s largest papers are in Omaha and St. Louis. These papers, and others in the chain, are in smaller cities and communities hungry for coverage and “shouldn’t be trying to compete with the New York Times.”

“The smaller newspapers in the

SEPTEMBER 2025 ■ BusinessObserverFL.com

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45

BE THE CHANGE

Sylvia Dorisme PRESIDENT, ZEAL TECHNICAL INSTITUTE

THE CHANGE-MAKERS

T

he 2008-2009 housing recession was a turning point for Sylvia Dorisme. Then a recent college graduate, she felt the impact of the economic crisis personally.

“I found myself unemployed and lost in the world,” she says. “I was either overqualified with a bachelor’s degree or underqualified.”

And she was not alone. “I saw the suffering in our community, where everybody was panicking and most of the community were suffering.”

After losing her job as a student services director at a technical school, she decided to start her own business.

She researched different industries, looking at which were hiring — even during a recession. “Health care was that one industry where it doesn’t matter what happens, they still need health care professionals,” she says.

On her 25th birthday, she announced that she was going to open a technical school focused on health

care careers. Her friends doubted her plan, but this wasn’t the first time Dorisme had tackled challenging situations. She grew up in Haiti and St. Maarten, migrating to the U.S. as an unaccompanied minor just shy of turning 14.

“I started from the very, very bottom and without any guidance,” she says. “But I came from a really good family who were believers in God and who, I have to say, did a really good job with my childhood, where I could handle myself at such a young age.

“I grew up with my grandmother, who was a businesswoman in our community and literally built herself up from ground zero and was one of the most respected figures in our community,” Dorisme continues.

“One of the things that I’ve learned from her was to give back. I grew up with that in my system. So it was very natural for me when I started my entrepreneurship journey that whatever

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I do, it needed to have some sort of impact in the community.”

With that as a backdrop, Dorisme started Southwestern Vocational Training in September 2009 in Cape Coral. Now based in North Fort Myers and called Zeal Technical Institute after a rebranding in 2020, the school has trained almost 8,000 students to become phlebotomy technicians, home health aides, medical administrative assistants, patient care technicians, medical assistants and mental health technicians.

“The need for health care professionals is constantly, constantly growing,” says Dorisme, 40. “It’s been a privilege for us to be able to contribute to the solution for that.”

Dorisme places emphasis on helping underserved communities get the training needed for careers in health care. The school helps students in financial need find resources to pay for training and has a scholarship fund at the Collaboratory in Fort Myers.

“Our goal is to provide as many

To help underserved residents of Southwest Florida get the training needed for entry-level careers in health care — and inspire them to continue their education further.

resources available to our students, so when they come to us, we don’t turn them away if they don’t have the funds,” says Dorisme. “We want to always have resources available …

We wanted to be a part of the solution that provides more opportunities to underserved communities and those who may not be interested in college.

“We are very community-focused in terms of how we do business,” she continues. “We say students over profit, and we sincerely mean that.”

College isn’t the right path for everyone, and Zeal Technical Institute helps students embark on career pathways that don’t require college degrees. But Dorisme has also seen students complete their studies at Zeal Technical Institute and then continue their education.

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Sylvia Dorisme has gone from unemployed and “lost in the world” to setting up thousands for solid health care careers.

Zeal Technical Institute, founded by SYLVIA DORISME, has trained almost 8,000 students to work in health care.

“We have so many wonderful stories of students who came through the doors just to do a two-week class and now they’re in nursing school,” she says. “That’s the impact we wanted to make, and I think that has become a

reality for us. We have students who graduated 12 years ago, 13 years ago, and now they’re physicians. It’s a pretty good feeling to know that we were part of their journey.”

Dorisme herself is the first member

of her family to graduate from college, earning a bachelor’s in business administration from Hodges University, and it’s the sacrifices her parents and grandmother made to help her succeed that continue to inspire her to-

THE CHANGE-MAKERS

REAGAN RULE

day. “I felt like I would be a failure if I did not make something out of myself,” she says.

Her grandmother and her approach to business as the owner of a small grocery shop loom large over the way Dorisme operates Zeal Technical Institute today. “I remember the key thing was how she treated people,” she says. “She was getting repeat business because of how she treated people. They’d skip someone else and come back to her, so I held that close to my own journey.

“This is why you have students from 13 years ago, 10 years ago, stop by and ask for Miss Sylvia, just to give me a hug or to say hi,” she continues. “Because I never wanted them to leave with just a diploma. I wanted them to leave with a positive memory of who we were and what we represent.”

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Jennifer Rominiecki PRESIDENT AND CEO, MARIE SELBY BOTANICAL GARDENS

THE CHANGE-MAKERS

W

hen Jennifer Rominiecki, a Manhattan native, was named president and CEO of Marie Selby Botanical Gardens a decade ago, her goal was focused on big changes. She essentially sought to transform the garden, long a prominent gem in Sarasota cultural and tourism circles, into a global masterpiece, and in doing so secure the nonprofit’s future.

This ongoing change is happening through a three-phase project at Selby’s main downtown campus, on 15 acres off the Sarasota Bay on Mound Street. Phase one, a $51 million project, is complete, and phase two is expected to begin by the end of 2025. That $60.9 million phase includes a conservatory to house one of the world’s largest scientifically documented and diverse collections of orchids and bromeliads.

Rominiecki previously spent about two decades at established cultural

institutions, including the New York Botanical Garden and the Metropolitan Opera.

At Selby, she saw a chance to make exciting changes. Phase one of the transformation opened in January 2024. It includes a new parking structure, the Living Energy Access Facility or LEAF; a new restaurant, gift shop and welcome center; and new research and office facilities. The LEAF nearly doubled parking from 270 spaces to 450, and the project includes a solar array atop the structure that makes it the first net-positive energy botanical gardens in the world.

But getting to groundbreaking wasn’t easy. Rominiecki had to unite neighbors, many of whom initially protested the expansion, and build consensus. That took a number of meetings, sessions and conversations with a variety of groups and officials.

Project plans were tweaked multiple times.

On the customer experience side, meanwhile, Rominiecki worked with other museum curators to bring international exhibits to Selby, pairing famous art by Marc Chagall, Paul Gauguin and Andy Warhol with air plants of the world Selby also trademarked “The Living Museum,” to describe the changing exhibits to encourage repeat visitation. That proved to be a shrewd move.

“We want to ensure visitors to Selby Gardens always have a reason to return,” she says. “We’re always giving people a reason to come back.”

And that seems to be happening: Attendance has doubled under her tenure to 310,000 annual visitors.

Rominiecki, 51, has led other areas of growth for the gardens, which were founded in 1973. That’s when Sarasota resident and passionate gardener Marie Selby bequeathed her former home and property, according to the organization’s website, “for the enjoyment of the general public.” The organization had $98.93 million in assets and

BE THE CHANGE Marie Selby Botanical Gardens President and CEO Jennifer Rominiecki seeks to complete a $100 million-plus transformational three-phase capital project primed to remake the organization’s 15-acre downtown Sarasota campus. Phase 1 is complete, while Phase 2 is expected to get underway by 2026.

$22.72 million in revenue in its most recent fiscal year, public filings show.

The new operating model Rominiecki instituted, say officials, has also led to a 128% increase in membership and a 135% gain in overall earned revenues.

In 2024, Time magazine named Selby — with its air plants, Banyan trees and mangroves — one of the world’s 100 greatest places. Articles about Selby have been published in other national publications, including USA Today, which named it one of the best botanical gardens of 2025.

The Wall Street Journal named Selby’s completed first phase as one of the best architectural projects of 2024.

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Jennifer Rominiecki has helped shine a national spotlight on a Sarasota cultural landmark, leading it to even brighter days.

Visit Sarasota County named JENNIFER ROMINIECKI the Voice of Sarasota during National Tourism and Travel Week in 2024.

“The centerpiece is the Morganroth Family Living Energy Access Facility, which, according to Selby, contains a garden-to-plate restaurant, a new gift shop, vertical gardens and a nearly 50,000-square-foot solar array,” states the WSJ article.

Rominiecki has received accolades

and praise for her efforts locally, too.

Visit Sarasota County named her the Voice of Sarasota, for example, during National Tourism and Travel Week last year.

More recognition, a bit more unusual, came from inside Selby this past May. That’s when Rominiecki

had a new species of a flowering plant named for her, the Drymonia rominieckiae. The honor stems from a Marie Selby Botanical Gardens botanist who discovered four new species in the African violet family, or gesneriaceae, while researching plant species on the eastern slopes of the Andean

THE CHANGE-MAKERS

LORI SAX

rainforest in South America.

Sarasota Chamber of Commerce President and CEO Heather Kasten says Rominiecki — chair-elect of the chamber — is the just-right leader at the just-right time for Selby.

“The impact Jennifer has had on Marie Selby Botanical Garden is absolutely unparalleled,” Kasten says.

“People want to come from all over the world to Selby.”

Lakewood Ranch-based Willis A. Smith Construction President and CEO John LaCivita, contractor for the Selby expansion, also praises Rominiecki for her long-term vision. “Selby has never had (this) kind of recognition before,” LaCivita says.

While Rominiecki is known for building consensus, she’s also not known to take no for an answer, LaCivita adds. More importantly perhaps, he says, she “delivers on her promise.”

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49

Dr. Miguel Rivera seeks to not only help his patients directly, but help others — from caregivers to first responders — understand aging cognitive issues.

THE CHANGE-MAKERS

DR. MIGUEL RIVERA talks about topics such as brain fog, medications and how sleep impacts cognition on his YouTube channel, Dementia Doc.

LORI SAX

Dr. Miguel Rivera DEMENTIA DOC

I

t was a chance phone call that led Dr. Miguel Rivera to his professional passion. He was figuring out his next steps after his Sarasota-based integrative health practice had failed to take off when he got a phone call from Dr. Bruce Robinson, chief of geriatrics at Sarasota Memorial Hospital.

Rivera had rotated through Robinson’s service during his psychiatry residency at the University of South Florida, where the latter had been a professor. Now Robinson wanted to see if he would do some consultations at local nursing home facilities.

That was how Rivera began treating people with dementia in the SarasotaManatee area — and it has remained his focus for almost two decades, where he’s picked up the nickname “Dementia Doc,” working both out of his Lakewood Ranch office and as a mobile physician.

“All these people were like my grandpa and my grandma,” he says.

“I just felt this connection to them.

Through the years I’ve gotten very close to so many of my patients and

50

BUSINESS OBSERVER

their families. For me, it hasn’t been just seeing a patient. It’s definitely that connection that develops with the patients with dementia that’s been instrumental in me continuing to do this kind of work.”

Beyond specific patients, Rivera has also facilitated some changes in dementia care, from a renewed focus on caregivers to the legal side of helping patients. He has an active YouTube channel, Dementia Doc, with videos on topics such as brain fog, medications and how sleep impacts cognition. Rivera also has spoken worldwide about dementia management, caregiving and prevention, according to his website, traveling across the U.S. and in Europe, China and Taiwan.

When seeing patients, Rivera, 62, typically starts by assessing the medications they are taking. Sometimes a medication for another condition can have impacts on a patient’s cognitive function. “I am always looking to min-

BE THE CHANGE Improving the quality of life for dementia patients and their families.

imize the use of medications and trying to identify medications that could conceivably be making things worse,” he says.

He also incorporates holistic and alternative therapies with patients.

He first explored aromatherapy, massage and music after the FDA issued a “black box” warning around the use of antipsychotic medications in the elderly — the most serious warning placed on a prescription drug’s label.

“I remember opening up that email and being a little bit floored, going ‘What am I going to do?’” he recalls.

“It was just this upending in the way in which I’d been taught to manage all these things. So I immediately, right then and there, got on the computer and Googled holistic ways to manage dementia-related symptoms.”

Hearing familiar songs, especially from their youth, has helped his patients relax and communicate. “There is definitely something magical about music,” says Rivera.

Aromatherapy has also proved helpful for many of his patients (and maybe even for other health care staff who work with them). While these

kinds of holistic interventions don’t take the place of antipsychotic medications, Rivera notes that they can decrease the frequency at which they are prescribed.

Rivera’s work became personal when his father was diagnosed with Lewy body dementia. “I have firsthand knowledge of this disease, having been a caregiver for my dad and now for my mom (who’s experiencing some dementia-related issues),” he says. “And what I always share when people ask me about my experience is that being a dementia practitioner did not prepare me for how difficult and challenging it was to transition into being a dementia caregiver.” (Rivera’s dad died in 2018 at 86 years old, according to the physician’s website.)

That’s why he emphasizes dementia is a family disease, and that family members need just as much support as the patients themselves. “I think the biggest challenge was that I stopped taking care of myself,” he says. “My wholehearted recommendation for anybody whose loved one is diagnosed with dementia is to get some help … Acknowledge that in order to be able to take the best care possible of your loved one, that you need to take care of yourself.”

While Rivera wants people to understand that dementia is “relentlessly progressive,” he also encourages family members and other caregivers to notice changes in patients and mention them to their medical team. “An early intervention gives the opportunity for better outcomes,” he says.

He also sees the need for further education about the cognitive condition for first responders, emergency room staff, law enforcement and others. He saw this need when he did a consultation for a patient who was being mistreated by a caregiver. But because she had dementia, no one she’d told prior had believed her.

“I think sensitivity training or something along those lines is so important as our society continues to age,” he says.

— BETH LUBERECKI

BusinessObserverFL.com ■ SEPTEMBER 2025

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