Issuu

2026

BIG BOOK

OF BUSINESS

SEPTEMBER 2026 ■ BusinessObserverFL.com

BUSINESS OBSERVER

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LETTER FROM THE EDITOR

Bigger, better If bigger really is better, consider the 2026 Big Book of Business a better-than-ever special issue that provides the right information to help you make the right decisions at the right time. TABLE OF CONTENTS THE DATA Housing............................... 8 Jobs.................................. 10 Commercial real estate......... 12 Banking............................. 14 Population.......................... 16 Fiscal performance.............. 16 Bankruptcies...................... 17 Florida vs. other states......... 19 Transportation..................... 20 Nonprofits.......................... 22 THE LISTS Largest private companies.... 24 Top public companies.......... 28 Banks................................ 32 Credit unions...................... 34 Chambers of commerce....... 36 Healthcare.......................... 41 Top employers by county...... 42 Doc stamps........................ 44 Business formations............. 44 Layoffs............................... 45 Higher education................. 46 INFLUENCERS & INNOVATORS

Juliette Feld Grossman......... 48 Rob Higgins........................ 50 Marlee Strawn..................... 52 Dr. Patrick Hwu................... 56 Blair Eadie.......................... 58 Michael Peterman................ 62 Erica Spector Wishnow........ 64 Chris Tomasso.................... 68 Sarah Martello.................... 70

COVER PHOTO Sculpture is outside the Baker Museum/ Artis-Naples. (Photo by Stefania Pifferi.)

BUSINESS OBSERVER

MARK GORDON MANAGING EDITOR

eld Entertainment CEO Juliette Feld Grossman credits her dad and mentor, Kenneth Feld, for showing her the value of being able to change quickly to meet new market needs. The elder Feld, she says, always looks for the next thing to keep the Manatee County show production giant at the forefront of people’s minds for live entertainment. “What else can we do,” Feld Grossman says she learned from her dad, “that the audience doesn’t yet know that they want?” While the Business Observer isn’t doing Poppa Wheelies on a Supercross track, maneuvering monster trucks or packing clowns into a car, we consistently aim to provide information for our readers that’s ahead of trends — the intel you might not even know you want or need. We do that every day on our website and social media channels and every week in print. And consider this issue, our annual Big Book of Business, our version of the Feld Entertainment mission: to compile data, lists and stories you can’t get anywhere else that also form a roadmap to be better at business. Feld Grossman’s insights are part of a series of stories in this issue we call Influencers & Innovators. These are a diverse group of nine leaders in our coverage area who, as the name says, lead innovation and influence others in their

organization, industry or both. These stories include prominent leaders from some of the region’s largest entities, like Feld Grossman; First Watch Restaurant Group CEO Chris Tomasso; USF Athletics CEO Rob Higgins; and Moffitt Cancer Center CEO Dr. Patrick Hwu. This edition of the Big Book of Business has several other new features and components. A big one: We partnered with StatisNostics, a firm founded by part-time Longboat Key resident Edward Tiesenga, to produce a new and improved look at the region’s data, from housing to jobs to population. This compelling deep dive — it’s interactive, too — will be available to Business Observer subscribers on our website, BusinessObserverFL.com. Other new components this year include deeper dives into healthcare, higher education and nonprofits in the region. And be sure to check out our exclusive statewide banking analysis, Pages 14-15, compiled by research firm CB Clarity and former Business Observer Tampa Bay Editor Alex Walsh. In total, the Big Book of Business is a trove of data, lists and inspiring stories with, again, the core goal at the forefront: to deliver you essential information. This mirrors the Observer Media Group’s vision statement: to innovate and elevate. (OMG is the publisher of the Business Observer.) And it also mirrors the mindset of Tomasso, who oversees a breakfastbrunch-lunch business with more than $1.2 billion in annual revenue and locations in some 30 states. “We don’t rest on our laurels,” Tomasso says of the company’s constant innovations. “We are always looking around the next corner to see what’s coming, and to see where we want to be.”

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 Director Penny Nowicki PNowicki@YourObserver.com Advertising Executive Ginger Fiore GFiore@BusinessObserverFL.com Director of Legal Advertising Kristen Boothroyd KBoothroyd@BusinessObserverFL.com Director of Creative Services Caleb Stanton CStanton@YourObserver.com Subscriptions/ Customer Service Team Subscriptions@BusinessObserverFL.com

POSTAL INFORMATION The Business Observer (ISSN#2325-8195) is published weekly on Fridays by the Gulf Coast Review Inc./DBA Business Observer, 1970 Main Street, Floor 3, Sarasota, FL 34236; Periodicals Postage Paid at Sarasota, FL, and at additional mailing offices. The Business Observer is circulated in Charlotte, Collier, Hillsborough, Lee, Manatee, Pasco, Pinellas, Polk and Sarasota counties. POSTMASTER: Please send changes of address to the Business Observer, 1970 Main Street, Floor 3, Sarasota, FL 34236.

Special Section Published September 2026

To subscribe: Call 877-231-8834, or visit BusinessObserverFL.com. BusinessObserverFL.com ■ SEPTEMBER 2026

465478-1

HOUSING T HE DATA

The housing market in the region through spring 2026, by at least one key metric — median listing price — had slipped a bit. Every county posted a year-over-year decrease except for Pinellas, which was flat.

Avg median listing price (9 counties)

$444,508

Avg active listings (9 counties)

LATEST HOUSING SNAPSHOT (MAY 2026)

Florida median listing price

5,659

$425,000

FLORIDA STATEWIDE (AS OF MAY 2026) Active listings

New listings

Price-reduced share

Median days on market

Pending ratio

Total listing count

156,757

42,776

19.6%

32.9%

208,021

MEDIAN LISTING PRICE

Hillsborough

Pinellas

County

Active Listing Count

Days on Market

Median Listing Price

New Listing Count

Price Decrease Count

Collier Sarasota Manatee Pinellas Hillsborough Lee Charlotte Pasco Polk

6,238 5,068 3,617 7,140 5,917 11,347 3,336 3,643 4,628

95 83 81 74 62 87 92 66 76

$699,900 $487,000 $485,000 $439,000 $429,999 $399,000 $380,000 $350,000 $330,669

976 1,236 1,084 2,128 2,296 2,128 660 1,308 1,376

1,388 1,564 1,376 2,856 2,592 3,700 1,020 1,596 1,572

Pasco

Manatee

Sarasota

Polk

Charlotte

Lee

Collier

$1,000,000 $800,000 $600,000 $400,000 $200,000

June 2023

Aug. 2023

Oct. 2023

Dec. 2023

Feb. 2024

April 2024

June 2024

Aug. 2024

Oct. 2024

Dec. 2024

Feb. 2025

April 2025

June 2025

Aug. 2025

Oct. 2025

Dec. 2025

YEAR-OVER-YEAR MEDIAN LISTING PRICE (MAY 2025 VS MAY 2026)

Feb. 2026

May 2025

April 2026

May 2026

$800,000 -6.6% $600,000 -0.6%

-2.3%

0.0%

-4.4%

$400,000

-7.2%

-2.5%

-2.8%

-2.7%

$200,000

Collier

Sarasota

Manatee

Pinellas

Hillsborough

Lee

Charlotte

Pasco

Polk

Sources: Realtor.com Economic Research + Zillow Research Data + U.S. Census Building Permits Survey; StatisNostics

BUSINESS OBSERVER

BusinessObserverFL.com ■ SEPTEMBER 2026

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ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS REFERENCE SHOULD BE MADE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. ALL RENDERINGS AND PLANS ARE PROPOSED CONCEPTS SHOWN ONLY FOR MARKETING PURPOSES AND ARE BASED ON THE DEVELOPER’S CURRENT PRELIMINARY DEVELOPMENT PLAN. DEVELOPER RESERVES THE RIGHT TO MODIFY, REVISE OR WITHDRAW THE PROPOSED DEVELOPMENT PLAN IN DEVELOPER’S SOLE DISCRETION WITHOUT NOTICE. NOTHING HEREIN OR IN ANY OTHER COMMUNICATION SHALL BE DEEMED TO OBLIGATE THE DEVELOPER, OR ANY AFFILIATE OF DEVELOPER, TO CONSTRUCT THE PROJECT OR OFFER ANY OF THE PROJECT FOR SALE, AND NOTHING HEREIN SHALL BE DEEMED A GUARANTY OF ANY KIND. THIS IS NOT AN OFFER TO SALE OR SOLICITATION OF OFFERS TO BUY.

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JOBS T HE DATA

The unemployment rate in most counties in the region is ticking a bit higher, mirroring a national trend, as AI, economic uncertainty and other factors weigh on organizations.

COUNTY LABOR + JOBS SNAPSHOT (APRIL 2026)

Unemployment rate (%) YoY

County

Unemployment rate

Total Unemployed

Total Employed

Labor Force

Charlotte Polk Pasco Lee Sarasota Manatee Hillsborough Collier Pinellas

5.7% 5.6% 5.1% 5% 4.9% 4.8% 4.6% 4.6% 4.3%

4,454 20,313 15,222 19,040 9,916 9,812 37,700 8,574 21,190

73,714 343,811 285,647 358,108 192,952 194,413 773,411 177,697 473,276

78,168 364,124 300,869 377,148 202,868 204,225 811,111 186,271 494,466

UNEMPLOYMENT RATE

+1.3 pp

Total Unemployed YoY

+38.1%

Total Employed YoY

-1.3%

Labor force YoY

+0.1%

TOTAL UNEMPLOYED

20%

100K Charlotte

Polk

Manatee

Hillsborough

Pasco

Lee

Sarasota

Collier

Pinellas

15%

80K 60K

October 2025 data unavailable due to the lapse in appropriations.

10% 40K 5%

May Oct. Mar. Aug. Jan. Jun. Nov. Apr. Sep. Feb. Jul. Dec. May Oct. Mar. Aug. Jan. 2019 ’19 ’20 ’20 ’21 ’21 ’21 ’22 ’22 ’23 ’23 ’23 ’24 ’24 ’25 ’25 ’26

TOTAL EMPLOYED 800K

600K

20K

May Oct. Mar. Aug. Jan. Jun. Nov. Apr. Sep. Feb. Jul. Dec. May Oct. Mar. Aug. Jan. 2019 ’19 ’20 ’20 ’21 ’21 ’21 ’22 ’22 ’23 ’23 ’23 ’24 ’24 ’25 ’25 ’26

LABOR FORCE 1M 800K 600K

400K 400K 200K

May Oct. Mar. Aug. Jan. Jun. Nov. Apr. Sep. Feb. Jul. Dec. May Oct. Mar. Aug. Jan. 2019 ’19 ’20 ’20 ’21 ’21 ’21 ’22 ’22 ’23 ’23 ’23 ’24 ’24 ’25 ’25 ’26

200K

May Oct. Mar. Aug. Jan. Jun. Nov. Apr. Sep. Feb. Jul. Dec. May Oct. Mar. Aug. Jan. 2019 ’19 ’20 ’20 ’21 ’21 ’21 ’22 ’22 ’23 ’23 ’23 ’24 ’24 ’25 ’25 ’26 Source: Bureau of Labor Statistics, StatisNostics

BUSINESS OBSERVER

BusinessObserverFL.com ■ SEPTEMBER 2026

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COMMERCIAL REAL ESTATE Available multifamily units and industrial space continued to surge in 2025, while the office market in most counties remains tight.

T HE DATA

OFFICE SQUARE FT. ON THE MARKET

INDUSTRIAL SQUARE FT. ON THE MARKET

11,000,000

9,000,000

37.66%

2025

2020

31.34%

9,000,000 60.53%

7,000,000

5,000,000

45.64%

115.94%

1.03% 3,000,000

3,000,000 -10.51% -14.91% -48.39% 57.79% -20.36% -18.01% -46.34%

1,000,000

Hillsborough Pinellas Pasco

Polk

Manatee Sarasota Charlotte Lee

153.48% 188.21%

214.45%

646.83%

1,000,000

Collier

Hillsborough Pinellas Pasco

Polk

Manatee Sarasota Charlotte Lee

RETAIL SQUARE FT. ON THE MARKET

AVAILABLE MULTIFAMILY UNITS

4,000,000

14,000

-31.96%

3,500,000 -37.35%

66.71% Collier

107.24%

12,000 -36.81%

3,000,000

10,000

2,500,000

8,000

-32.63%

116.18%

73.30%

-30.94%

2,000,000

-32.61% -39.53%

6,000 145.54% 140.04%

-52.18%

1,500,000

4,000

211.02%

218.10%

1,000,000

148.57%

-17.72%

2,000 647.61%

500,000 Hillsborough Pinellas

Pasco

Polk Manatee Sarasota Charlotte Lee

Collier

Hillsborough Pinellas

Pasco

Polk

Manatee Sarasota Charlotte

Lee

Collier

Source: CoStar

BUSINESS OBSERVER

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COMMUNITY BANKS T HE DATA

Bank examiners judge banks on soundness, not a single score — and those ratings are private. This analysis, from data firm CB Clarity, uses three soundness checks that can be verified from public call reports. Then each of the 62 community banks in Florida are ranked by the one thing that’s a matter of degree: how much money it makes. A low rank means lower profitability — not an unsound bank.

60/62 76% pass every soundness check

are commercial real estate lenders

carry a flag (shown in the table)

The three checks — pass/fail against fixed threshholds

C Capital Well-capitalized (Tier-1 leverage ≥5%, plus risk-based ratios where reported) A Asset quality Texas ratio <100% — problem assets below capital + reserves E Earnings Profitable on average over the trailing eight quarters Did not grade management, sensitivity to market risk, or liquidity — those need supervisory access or have no clean public line for community banks.

Rank

Bank

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39

Newtek Bank, National Association, Miami 4.13% Paradise Bank, Boca Raton 2.77% Surety Bank, Deland 2.34% FNBT BANK, Fort Walton Beach 2.11% Brannen Bank, Inverness 2.01% Sanibel Captiva Community Bank, Sanibel 1.90% First Colony Bank of Florida, Maitland 1.80% Crews Bank & Trust, Wauchula 1.69% OptimumBank, Fort Lauderdale 1.66% Banco do Brasil Americas, Miami 1.65% Desjardins Bank, National Association, Hallandale 1.61% Cogent Bank, Orlando 1.59% First Bank, Clewiston 1.35% International Finance Bank, Miami 1.33% Bank of Central Florida, Lakeland 1.24% Intracoastal Bank, Palm Coast 1.23% Gulfside Bank, Sarasota 1.21% DLP Bank, Starke 1.20% Bank of Belle Glade, Belle Glade 1.17% First National Bank of Wauchula, Wauchula 1.17% PNB Community Bank, Niceville 1.16% Sunrise Bank, Orlando 1.14% Banesco USA, Miami 1.13% The Bank of Tampa, Tampa 1.13% Lafayette State Bank, Mayo 1.11% Florida Capital Bank, National Association, Jacksonville 1.07% One Florida Bank, Orlando 1.06% United Southern Bank, Umatilla 1.01% Pacific National Bank, Miami 1.00% First Federal Bank, Lake City 0.98% First State Bank, Key West 0.97% Edison National Bank, Fort Myers 0.96% Ocean Bank, Miami 0.93% Citizens Bank and Trust, Frostproof 0.92% Flagship Bank, Clearwater 0.91% Helm Bank USA, Miami 0.91% Bradesco Bank, Coral Gables 0.88% Community Bank of the South, Merritt Island 0.84% Anchor Bank, Palm Beach Gardens 0.82%

BUSINESS OBSERVER

ROA

vs. Peers

Loan Mix

+3.07 +1.72 +1.28 +1.05 +1.20 +1.10 +0.74 +0.63 +0.60 +0.84 +0.80 +0.53 +0.29 +0.27 +0.18 +0.17 +0.16 +0.14 +0.12 +0.37 +0.11 +0.08 +0.07 +0.07 +0.05 +0.26 +0.01 -0.04 -0.05 +0.17 -0.09 +0.15 -0.13 -0.13 -0.14 +0.10 +0.07 -0.21 -0.24

LOAN MIX CRE Residential C&I Construction

Multifamily Consumer Agriculture

Lending Type

A E

CRE CRE CRE CRE Residential Residential CRE CRE CRE Residential Residential CRE CRE CRE CRE CRE CRE CRE CRE Residential CRE CRE CRE CRE CRE Residential CRE CRE CRE Residential CRE Residential CRE CRE CRE Residential Residential CRE CRE

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BusinessObserverFL.com ■ SEPTEMBER 2026

Bank

ROA

vs. Peers

Loan Mix

40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62

Peoples Bank of Graceville, Graceville The First National Bank of Mount Dora, Mount Dora Commerce Bank & Trust, Winter Park Interamerican Bank, A FSB, Miami Mainstreet Community Bank of Florida, Deland Emigrant Bank, Miami Madison County Community Bank, Madison Terrabank, National Association, Coral Gables Gulf Atlantic Bank, Key West Climate First Bank, St. Petersburg Century Bank of Florida, Tampa Bank of Pensacola, Pensacola Central Bank, Tampa Sunstate Bank, Miami BankFlorida, Dade City Amerant Bank, National Association, Coral Gables Grove Bank & Trust, Miami The Warrington Bank, Pensacola Natbank, National Association, Hollywood First National Bank of Pasco, Dade City Axiom Bank, National Association, Maitland Pibank, National Association, Miami Eastern National Bank, Miami

0.78% 0.73% 0.72% 0.72% 0.72% 0.72% 0.70% 0.68% 0.66% 0.63% 0.62% 0.60% 0.54% 0.54% 0.53% 0.47% 0.36% 0.36% 0.21% 0.16% 0.07% -0.93% -3.48%

-0.27 -0.33 -0.33 -0.33 -0.33 -0.08 -0.36 -0.38 -0.14 -0.43 -0.43 -0.21 -0.51 -0.26 -0.53 -0.59 -0.70 -0.70 -0.60 -0.90 -0.98 -1.98 -4.53

Lending Type

A E

CRE CRE CRE CRE CRE Residential CRE CRE Residential CRE CRE Residential CRE Residential CRE CRE CRE CRE Residential CRE CRE CRE CRE

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T HE DATA

Rank

Ranked by return on assets, averaged over the trailing eight quarters. ROA, not return on equity, so thin capital can’t inflate the rank. Loan-portfolio peer groups are built from 2020–2022 lending mix; “vs. peers” compares each bank’s ROA to the national median for banks that lend like it. A “does not meet” (û) reflects a bank’s own reported figure against a published threshold. Source: FDIC call reports, Q1 2026. CB Clarity, June 2026.

Bank Deals ACQUIRED OCT. 1, 2025

Citizens First Bank The Villages

ACQUIRER: Seacoast National Bank, Stuart

P/TBV

DEAL VALUE

ASSETS

1.70x $711M $4.1B

DEAL TYPE*

Whole bank merger

Nine of the biggest bank deals of the past 12 months with Florida lenders.

ACQUIRED MAY 1, 2026

ACQUIRED JAN. 21, 2026

LaGrange, Georgia

Fort Myers

Community Bank and Trust - West Georgia

FineMark National Bank & Trust

ACQUIRER: Anchor Bank, Palm Beach Gardens

ACQUIRER: Commerce Bank, Kansas City, Missouri

ASSETS

P/TBV

DEAL TYPE*

$288M

FDIC-assisted acquisition

DEAL VALUE

ACQUIRED NOV. 18, 2025

ACQUIRED JULY 11, 2025

ACQUIRED MARCH 7, 2026

Waycross, Georgia

Sebring

Vero Beach

First Southern Bank

ASSETS

Heartland National Bank Marine Bank & Trust Co.

ACQUIRER: Community First Credit Union of Florida

ACQUIRER: Seacoast National Bank, Stuart

ACQUIRER: Elga Credit Union

ASSETS

P/TBV

ASSETS

$335M

DEAL TYPE*

Credit union acquisition

DEAL VALUE ASSETS

DEAL TYPE*

1.53x $110M $785M Whole bank merger $657M

DEAL TYPE*

Credit union acquisition

ACQUIRED MAY 15, 2026

ACQUIRED MARCH 1, 2026

ACQUIRED OCT. 31, 2025

Orlando

Tallahassee

Winter Park

One Florida Bank

Prime Meridian Bank

ACQUIRER: Hancock Whitney Bank, Mississippi

ACQUIRER: Midflorida Credit Union

P/TBV

P/TBV**

DEAL VALUE

ASSETS

2.00x $378M $2.1B

DEAL TYPE*

Whole bank merger

DEAL TYPE*

1.51x $585M $3.9B Whole bank merger

DEAL VALUE

ASSETS

Winter Park Nat’l Bank ACQUIRER: DFCU Financial

DEAL TYPE*

2.02x $192M $956M Credit union acquisition

ASSETS

$827M

DEAL TYPE*

Branch & deposit purchase

*DEAL TYPE — Classification of the strategic rationale based on the acquirer’s prior footprint, the target’s financial profile and pricing relative to that year’s peer transactions. **IMPLIED — The parties did not publish a tangible-book multiple. (P/TBV). Implied = disclosed cash price per share × shares outstanding (sec) ÷ tangible equity (FDIC call report).

SEPTEMBER 2026 ■ BusinessObserverFL.com

BUSINESS OBSERVER

POPULATION

The era of 1,000 people moving to Florida day, for now at least, seems to be over. But people are still moving into the Sunshine State more than they are leaving — especially on the west coast of the state.

T HE DATA

9 counties Population (2025)

Florida Population (2025)

Growth (2010-’25)

6,530,092 30.0%

Growth (2010-’25)

23,462,518 24.5%

POPULATION TREND BY COUNTY 1.8M

Pinellas

1.5M

Lee

Charlotte

Hillsborough

Polk Sarasota

1.8M

Manatee

Collier

900K

600K

300K

300K ’13

’14

’15

Source: U.S. Census Vintage 2025 Population Estimates

18,846,143 0.2%

1.5M 1.2M

’12

Population (2010)

YEAR-OVER-YEAR POPULATION (2024 vs 2025)

Pasco

1.2M

2010 ’11

Source: StatisNostics

’16

’17

’18

’19

’20

’21

’22

’23

’24 ’25

1.2%

2.7% 1.6% 2.8% 0.8% 2.0% 0.1% 2.7%

Hillsborough

Pinellas

Polk

Lee

Pasco

Sarasota Manatee Collier Charlotte

FISCAL PERFORMANCE

Counties in the region, in general, have less debt than expenses — though some have better ratios than others. Pinellas and Polk are two of the leaders in low debt.

9 counties (2025 audited ACFR actuals) Total revenue Total expense

Per Capita (2025 audited ACFR) Average revenue Average expense

Total debt

$17,344,923,214 $13,857,964,261 $7,477,131,568 $2,879

$2,313

Average debt

$1,315

FY2025 primary-government ACFR actuals with Census Vintage 2025 population estimates. COUNTY FISCAL SNAPSHOT (2025) Audited FY2025 uses audited county ACFR actuals; the 2024–2025 source boundary is not directly comparable.

County Pinellas Polk Charlotte Hillsborough Pasco Collier Manatee Sarasota Lee

Revenue Per Capita

Total Expense

Expense Per Capita

Total Debt

Debt Per Capita

$2,281,032,117 $1,580,227,742 $920,862,616 $4,262,911,000 $1,700,736,862 $1,477,949,482 $1,573,936,000 $1,356,264,395 $2,191,003,000

$2,405 $1,806 $4,239 $2,708 $2,521 $3,543 $3,362 $2,826 $2,502

$1,830,141,329 $1,198,837,114 $766,003,451 $3,398,100,000 $1,201,288,134 $1,165,891,988 $1,210,013,000 $1,218,555,245 $1,869,134,000

$1,929 $1,370 $3,527 $2,159 $1,781 $2,795 $2,584 $2,539 $2,135

$100,783,704 $349,385,864 $170,216,000 $1,351,453,000 $761,287,000 $633,746,000 $1,194,859,000 $1,230,309,000 $1,685,092,000

$106 $399 $784 $859 $1,129 $1,519 $2,552 $2,563 $1,924

TOTAL REVENUE TREND Using inflation-adjusted (2026 dollars, cpi-u)

HISTORICAL COUNTY FINANCES — Spending per capita

$5B

$5K

$4B

Hillsborough

Pinellas

Pasco

Charlotte

Lee

Collier

Polk

Manatee

Sarasota

$3K

$2B

$2K

$1B

$1K ’73

’77

’81

BUSINESS OBSERVER

’85

’89

’93

Using inflation-adjusted (2026 dollars, cpi-u)

$4K

$3B

1967

Total Revenue

’97

’01

’05

’09

’13

’17

’21

’25

1967

’73

’77

’81

’85

’89

’93

’97

’01

’05

’09

’13

’17

’21

’25

BusinessObserverFL.com ■ SEPTEMBER 2026

BANKRUPTCIES

Bankruptcies are on the rise in the region. And, with Hillsborough and Polk counties at the top of the list, the trend fits both high and midsize populations.

1,418

FLORIDA BANKRUPTCY MIX (LAST 4 YEARS) Business Chapter 7 Personal Chapter 7

Business Chapter 11 Personal Chapter 11

Business Chapter 13 Personal Chapter 13

YEAR-OVER-YEAR FILINGS (ALL CHAPTERS) 4K

Average Chapter 7 filings

2023

2024

2025

47,145 Business

2,623 Nonbusiness

44,522 Chapter 1

1,081

March 2026

2026

1,090 Florida Total filings

March 2025

25.6%

T HE DATA

9 counties Average total filings

34.5%

TOTAL FILINGS (ALL CHAPTERS) 4K

Hillsborough Polk Charlotte Manatee

Lee Collier

Pinellas

Pasco

30.9% 19.7% 39.4%

Sarasota

1K 36.5% 36.5% 26.3% 33.7%

2K 1K Hillsborough Dec. 2021

Dec. 2022

Dec. 2023

Dec. 2024

March 2025

Dec. 2025

March 2026

Polk

Lee

Pinellas

Pasco Sarasota Manatee Collier Charlotte

Source: Statisnostics, United States Courts. Latest Data Set: Mar 2026

EXCEPTIONAL CONSTRUCTION MANAGEMENT BY AN EXCEPTIONAL TEAM

Construction Management Design-Build General Contracting

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SEPTEMBER 2026 ■ BusinessObserverFL.com

BUSINESS OBSERVER

COUNTY DEBT LOAD

PASCO

T HE DATA

Ranking is of TTi, which compares annual debt service interest to tax revenues. Lower percentages mean more room in the budget.

HILLSBOROUGH

POLK

PINELLAS

Rank Among Florida’s 67 Counties County

Percent of Revenue Supporting Public Creditors

Population

Pinellas

0.24%

964,496

Charlotte

0.33%

203,116

Polk

0.43%

790,796

Manatee

0.66%

431,190

Hillsborough

1.22%

1,525,239

Collier

1.28%

401,486

Sarasota

1.5%

464,297

Lee

2.37%

828,059

Pasco

2.88%

610,396

MANATEE

SARASOTA CHARLOTTE

LEE

KEY

COLLIER

4.74%

Note: Data is from 2023; Source: StatisNostics

NOW SERVING FLORIDA BUSINESSES

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BUSINESS OBSERVER

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BusinessObserverFL.com ■ SEPTEMBER 2026

SCORECARD

StatisNostics analyzed debt, revenue and spending per capita for all 50 states in conjunction with nine other benchmarks: jobs, housing, banking, business formations, bankruptcies, crime, population, fiscal data and transportation. (Those form the main composition below.) The Spending Pressure metric measures the economic burden on taxpayers based on government expenditure. A higher Spending Pressure percentile indicates higher fiscal pressure. Florida is in the top 5 nationally. Florida main composite rank

Florida Spending Pressure rank

Performed better than 92% of states

Among 50 states

94.0%

Florida debt per capita rank

Florida revenue per capita rank

Spending Main Pressure Rank State Composite Rank

Florida spending per capita rank

FLORIDA VS 50 U.S. STATES

Main composite uses the nine-category percentile benchmark. Spending Pressure composite is shown separately, in which higher percentile means higher pressure.

51.0%

U.S. median main composite

51.3%

U.S. average Spending Pressure

U.S. median Spending Pressure

Highest Spending Pressure: Alaska

Lowest Spending Pressure: Florida

U.S. average main composite

51.0%

98.0%

4.0%

FLORIDA PERCENTILE BY CATEGORY Rank after applying metric direction (longer bar is better by category) Jobs/Unemployment

#42 out of 50 #26 #23

Housing Banking

Business Formations

#36

Bankruptcies

#13

Crime

#2 #4

Population Growth Fiscal Metrics Transportation

20%

40%

#19 60%

80%

100%

SPENDING PRESSURE COMPONENTS $10K

Florida

U.S. Average

U.S. Median

$8K $6K $4K $2K

Debt per capita

Revenue per capita

Spending per capita

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50

Utah North Carolina Wyoming Florida South Dakota Texas Iowa Nebraska Georgia Maine North Dakota Virginia Montana Minnesota New Hampshire Delaware New Jersey Idaho Ohio South Carolina Arizona Vermont Kansas Pennsylvania Connecticut Oklahoma Colorado Missouri Hawaii Tennessee Massachusetts Indiana Rhode Island Mississippi Wisconsin Nevada Kentucky Arkansas Maryland Illinois Alabama New York Washington Oregon California West Virginia Michigan New Mexico Alaska Louisiana

68.9% 68.4% 65.3% 64.7% 62.0% 61.8% 60.7% 60.0% 59.6% 59.1% 59.1% 58.9% 58.7% 58.2% 57.1% 55.8% 55.8% 55.6% 55.3% 55.3% 55.1% 54.7% 53.3% 52.9% 51.6% 51.1% 50.9% 48.2% 48.0% 48.0% 47.3% 46.7% 46.7% 46.2% 45.1% 44.7% 44.2% 44.0% 43.3% 43.1% 42.4% 42.2% 40.0% 39.6% 38.9% 38.9% 38.2% 37.6% 35.6% 31.3%

36 45 10 50 44 47 27 46 48 31 9 35 21 14 28 13 7 41 19 30 42 4 34 17 8 40 32 43 3 49 2 37 11 23 33 38 16 25 18 24 39 12 22 6 15 20 29 5 1 26

Spending Pressure Percentile

Spending Pressure Composite

30.0% 12.0% 82.0% 2.0% 14.0% 8.0% 48.0% 10.0% 6.0% 40.0% 84.0% 32.0% 60.0% 74.0% 46.0% 76.0% 88.0% 20.0% 64.0% 42.0% 18.0% 94.0% 34.0% 68.0% 86.0% 22.0% 38.0% 16.0% 96.0% 4.0% 98.0% 28.0% 80.0% 56.0% 36.0% 26.0% 70.0% 52.0% 66.0% 54.0% 24.0% 78.0% 58.0% 90.0% 72.0% 62.0% 44.0% 92.0% 100.0% 50.0%

32.0% 14.7% 80.7% 4.0% 17.3% 9.3% 49.3% 10.7% 6.7% 46.0% 80.7% 32.7% 58.0% 75.3% 48.7% 78.0% 81.3% 20.0% 60.7% 46.7% 19.3% 88.7% 38.7% 67.3% 80.7% 24.7% 44.7% 18.0% 88.7% 6.0% 90.7% 31.3% 80.0% 54.7% 39.3% 28.7% 70.0% 51.3% 63.3% 52.0% 28.0% 79.3% 55.3% 82.7% 72.0% 60.7% 48.7% 84.0% 98.0% 50.7%

T HE DATA

Florida main composite percentile

Source: BLS LAUS, Realtor.com® Economic Research, FDIC Summary of Deposits, Census Business Formation Statistics, U.S. Bankruptcy Courts, U.S. Census Population Estimates, and Observer map metrics (Crime, TTi, Journey to Work, Spending Pressure)

SEPTEMBER 2026 ■ BusinessObserverFL.com

BUSINESS OBSERVER

TRANSPORTATION T HE DATA

The number of people flying in and out of airports in the region keeps on growing, with five facilities posting a year-over-year increase. Cruise passenger rates are surging, too.

AIRPORTS

2024

2025

DEPLANINGS

PASSENGERS

Southwest Florida International

1.01%

Tampa International

0.27%

Sarasota-Bradenton International

St. Pete-Clearwater International

13.18%

Punta Gorda Airport

17.42% 3 million

0.22%

Sarasota-Bradenton International

6.48%

St. Pete-Clearwater International

1.15%

6 million

9 million

6.34%

13.65%

18.54% 5 million

12 million

10 million

15 million

20 million

25 million

AIRLINE MARKET SHARE Southwest Florida International Delta, 21%

Southwest, 17%

Tampa International Southwest, 23.52%

United, 14%

Delta, 17.18%

Sarasota-Bradenton International Allegiant, 22.64%

American, 14%

American, 15.6%

Southwest, 21.38%

Delta, 20.35%

St. Pete-Clearwater International Allegiant, 98%

Commercial charters, 1%; SunCountry, 0.44%

Punta Gorda Airport Allegiant, 99.6% Top airline

2nd

3rd

Others

10%

SEAPORTS CARGO TONS 35,000,000

20%

30%

40%

50%

TEUs 3.56%

30,000,000

300,000

2.46%

200,000

20,000,000

150,000

15,000,000

0.39%

20.98%

100,000

10,000,000

50,000

5,000,000 SeaPort Manatee

Port Tampa Bay

Sources: Individual ports, airports and airport authorities

BUSINESS OBSERVER

60%

70%

80%

90%

100%

CRUISE PASSENGERS

250,000

25,000,000

SunCountry, 0.4%

SeaPort Manatee

Port Tampa Bay

1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000

36.90%

N/A N/A SeaPort Manatee

Port Tampa Bay

TEUs are 20-foot equivalent units

BusinessObserverFL.com ■ SEPTEMBER 2026

CRAFTED W I T H

B R I L L I A N C E

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465653-1

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NONPROFITS

The nonprofit sector — $140 billion in revenue — is big business in Florida. (The Central West Florida region includes Hillsborough, Manatee, Pasco, Pinellas, Polk and Sarasota, plus Citrus and Hernando counties.)

T HE DATA

FLORIDA Number

23,224

5.2%

Provide annual wages of

Annually employ over

Annual revenue generated:

Number

Provide annual wages of

Annually employ over

Annual revenue generated:

Make up of the state workforce

CENTRAL WEST FLORIDA

4,989

$34.8 billion 517,589 $9.2 billion

134,037

Percent Average Change in Revenue per Total Revenue Region Total Revenue Nonprofit from 2023 $4,824,674 $7,156,334 $8,275,790 $8,202,929 $7,860,500 $3,899,462 $2,675,450 $603,133 $6,044,192

1% 14% 16% 2% 11% 0% -3% -7% 8%

$140.4 billion $312.4 billion $35.7 billion

Number of Nonprofits

Hillsborough Pinellas Sarasota Collier Lee Polk Manatee Pasco Charlotte

1,455 1,280 888 768 705 457 405 313 145

Employees

Annual Wages

Revenue

59,122 28,495 8,703 10,840 8,405 20,846 4,470 10,663 2,220

$4,412,451,728 $1,937,170,284 $443,725,216 $714,949,724 $432,241,428 $1,288,427,572 $241,451,676 $788,815,676 $80,220,888

$16,196,332,107 $10,980,354,592 $1,940,063,728 $2,449,984,150 $1,717,705,488 $3,621,897,532 $1,280,489,467 $1,495,413,981 $161,187,985

Source: Florida Nonprofit Alliance

465459-1

Southeast $39,407,934,177 Central West $35,702,948,556 East Central $32,739,027,208 Northeast $15,150,810,225 North Central $6,626,401,279 Northwest $6,301,531,323 Southwest $4,328,877,623 South Central $112,785,928 State Total $140,370,316,319

County

Hold assets valued at

BUSINESS OBSERVER

BusinessObserverFL.com ■ SEPTEMBER 2026

Home Grown

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463388-1

Live here. Bank here.

TOP PRIVATE COMPANIES

THE LISTS

COMPANY

’25 gross revenue ’24 gross revenue Change

Staff

Year Founded

Top Executive

Industry

Line of Business

1930

Kevin Murphy CEO

Retailers

retail grocery

9,774,077,303 9,442,847,378 7,989 3.51%

2005

Larry Morgan CEO

Retailers

automotive sales and service

FrankCrum 100 S. Missouri Ave., Clearwater 33756 727-799-1229; frankcrum.com

3,263,161,536 3,216,590,379 1.45%

1981

Frank Crum Jr. founder and CEO

Other

professional employer organization that offers human resources services, including payroll, employee benefits and more

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

2,240,000,000 1,840,000,000 1,983 21.74%

1896

Larry Rooney president

Contractors

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

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

2,200,000,000 2,200,000,000 5,000 0.00%

2015

Troy Taylor chairman and CEO

Distributor

Beverage distribution

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

2,170,615,870 1,829,998,529 1,168 18.61%

1998

James Gettel president

Retailers

automotive dealer

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

1,850,000,000 1,900,000,000 -2.63%

13,600

1915

Matthew Beall CEO, chairman

Retailers

retail apparel, home goods and gifts

Velera 615 Channelside Drive, Suite 204, Tampa 33602 844-367-7728; velera.com

1,600,000,000 1,400,000,000 5,000 14.28%

2024

Charles “Chuck” Fagan CEO

Fintech

Financial services, payments for credit unions

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

1,400,000,000 1,300,000,000 1,700 7.69%

1973

Jim Resch CEO

Distributor/ wholesalers

distributor of roofing and building material products

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

1,307,072,000 1,216,670,000 880 7.43%

1959

Christina “Cina” Welch president and CEO

Business/ consumer services

property and casualty insurance

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

1,270,000,000 1,220,000,000 3,154 4.10%

1989

Mitch Permuy CEO

Contractors

electrical contractor

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

1,030,000,000 949,000,000 8.54%

5,700

1966

Grady Martin CEO

Logistics

Warehousing, omnichannel fulfillment and transportation

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

987,262,936 1,060,980,183 -6.95%

1981

Bill McKnight president

Retailers

petroleum distributor

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

985,000,000 895,000,000 670 10.06%

2009

Bobby Harris founder and CEO

Other

third-party logistics (3PL) provider

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

794,000,000 588,990,000 297 34.81%

1996

David Diamond CEO

Contractors

construction management

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

759,358,125 663,421,680 484 14.46%

2010

Ryan Carter president Scotlynn USA

Other

logistics

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

700,295,132 685,438,534 2.17%

2009

Willy Nunn president

Real estate/ mortgage brokers

new home builder

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

697,000,000 646,000,000 1,132 7.89%

1998

Chris LaFace president and CEO

Contractors

civil and utility construction services in central Florida

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

661,400,000 483,700,000 300 36.74%

1958

Jay Smith president

Contractors

construction management

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

586,336,544 800,174,861 -26.72%

248

1970

Patrick Neal executive chairman

Homebuilders

land developer and homebuilder

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

563,100,000 462,000,000 426 21.88%

2001

Brian Stock CEO

Homebuilders

developer and homebuilder

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

531,700,000 414,000,000 82 28.43%

1891

Jim Hopper president, Florida

Contractors

construction management, general contracting and design-build

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

460,500,000 503,700,000 -8.58%

2013

Steven Herrig CEO

Business/ consumer services

workers' compensation insurance

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

366,000,000 272,000,000 1,495 34.56%

1960

Brian Kelly CEO

Contractors

mechanical, plumbing and electrical contractors and service provider

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

356,560,000 353,536,000 14 0.86%

1945

J. Hulon Williams III president

Retailers

petroleum management

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

62,700,000,000 59,700,000,000 240,000 5.03%

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

BUSINESS OBSERVER

350

260

BusinessObserverFL.com ■ SEPTEMBER 2026

INSTRUMENTATION

REGISTERED APPRENTICE PROGRAMS

Apprenticeship Classes

Classes are held on the Technical Education Councilcampus of Manatee Technical Apprenticeship Classes College; 6305 SR 70, Bradenton, FL Classes meet 2x per week PHARMACY TECHNICIAN APPRENTICESHIP

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PLUMBING APPRENTICESHIP

Enhance your skills

with quality instruction

Get the skills and

• Robot Programming

through electrical

through plumbing

training you need

• PLC Integration

apprenticeship

to work in hospital

• Industry Assembly

courses!

and long-term care

• Repair & Maintenance

Comprehensive state registered apprenticeship program

FOCUS AREAS:

pharmacies

Circuit design and instrument calibration

al Education Council

TRUMENTATION

enticeship Classes

e held on the campus of Manatee Technical 305 SR 70, Bradenton, FL

• Must be employed full-time with an ehensive state eligible employer

red apprenticeship • Offered in English & m Spanish!

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CUSTOMIZED TRAINING: Tailor the apprentice’s education to your specific robotic systems.

Transmitters, sensors and PLC’s • Apprentices learn essential skills such as pipe installation, leak repair, plumbing system maintenance, and understanding building codes. • FL DOE Program

Classes meet 2x per week

Transmitters, sensors and PLC’s Classes meet 2x per week Call Us

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Scan the kelsey@technicaleducatio QR Code and Complete the Form 463365-1

ECTRICAL

TOP PRIVATE COMPANIES

THE LISTS

COMPANY

’25 gross revenue ’24 gross revenue Change

Staff

Year Founded

BIG BOOK OF BUSINESS Top Executive

Industry

Line of Business

2000

Adam Sutton Founder

Retailers

tire dealer franchisor

2000

Richard Freund CEO

Contractors

general contractor and construction management

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

236,880,000 229,630,000 90 3.16%

1972

F. John LaCivita president, CEO

Contractors

construction management

S-One Holdings Corp. 4728 S. Tamiami Trail, Sarasota 34231 941-256-7800; sone.com

218,029,517 199,355,808 226 9.37%

1994

Ron Simkins president and CEO

Manufacturing

provides materials, equipment, technical support in the printing industry

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

214,000,000 229,400,000 -6.71%

215

1982

Oscar Horton Chairman and CEO

Business/consumer services

commercial transportation equipment sales, service, parts

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

214,000,000 175,000,000 85 22.29%

1975

Miguel Leyva president

Contractors

commercial construction

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

212,300,000 168,530,000 101 25.97%

2010

Andrew Park and Forrest Eleazer managing partners

Contractors

commercial construction

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

201,500,000 203,000,000 125 -0.74%

1983

Budge Huskey CEO

Real estate/mortgage brokers

real estate brokerage

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

201,000,000 195,000,000 3.08%

112

1974

Alan Bomstein CEO

Contractors

commercial construction

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

189,000,000 186,000,000 105 1.61%

2010

Barry Connor CEO

Contractors

developer and general contractor

Christopher Alan Homes 6330 Techster Blvd, 33966 800-962-2205; christopheralanhomes.com

184,916,763 204,284,742 -9.48

2017

Ian Schmoyer chairman, president and CEO

Construction

Homebuilder

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

150,616,000 147,492,000 284 2.12%

1973

T. Corey Neil president, CEO

Banking/finance/ investment

Banking services

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

143,000,000 118,000,000 56 21.19%

1970

Jack Cox president

Construction

Commercial general construction,

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

136,000,000 174,000,000 72 -21.84%

1997

Ronald Allen president, principal

Construction

Commercial, multifamily, academic and hospitality construction

iConstructors 201 N. Franklin St., Suite 200, Tampa 33602 813-287-9000; iconstructors.com

$135,190,000 100,740,000 75 34.20%

2009

Michael Montecalvo co-president

Contractor

Commercial general contractor

Curran Young 27598 Riverview Center Blvd., Bonita Springs 34134 239-829-8378; curranyoung.com

135,000,000 105,000,000 45 28.57%

2018

Chris Curran CEO

Contractor

Large golf and country clubhouses, multifamily and mixed use, hospitality, healthcare

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

130,760,000 153,700,000 308 -14.93%

1984

Michael Cannon CEO/chairman

Construction

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

Bay to Bay Properties 201 Main St., Suite 300, Safety Harbor 34695 727-483-9512; baytobayproperties.com

130,000,000 98,000,000 32.65%

2003

Kate Rogers COO

Contractor

Car wash, convenience store and selfstorage

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

124,490,000 128,690,000 -3.26%

225

1981

Wes Pinkerton CEO

Retailers

Food distribution and retail

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

121,000,000 122,000,000 70 -0.82%

1946

Fred Edman president

Construction

Construction management, general contractor

VeraData 1634 S.E. 47th St., #9, Cape Coral 33904 239-990-7577; Veradata.com

120,560,351 100,954,625 247 19.42%

2007

Michael Peterman CEO

Technology, marketing

Consulting for nonprofit fundraising

McIntyre Elwell & Strammer General Contractors Inc. 1645 Barber Road, Sarasota 34240 941-377-6800; mesgc.com

116,300,000 79,400,000 75 46.47%

1987

Mark Freeman president

Contractor

General contracting, construction management

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

113,665,559 105,306,527 190 7.94%

2003

Matt Crum president

Insurance

Workers comp, general liability, inland marine, excess liability

TLC Divrsified 2719 17th St. E., Palmetto 34221 941-722-0621; tlcdiv.com

111,400,000 92,100,000 132 20.95%

1985

Dalas Lamberson president/CEO

Contractor

Heavy civil water infrastructure

Florida Asphalt & Concrete 1409 Tech Boulevard, Suite 1, Tampa 33619 813-623-6777; floridaasphalt.com

110,000,000 88,000,000 139 25%

2018

Chris LaFace president/CEO

Contractor

Asphalt and concrete

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

352,625,033 347,587,607 1.45%

1,700

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

325,000,000 266,280,000 22.05%

Source: Individual companies; NOTE: Velera is the result of a merger between PSCU and Co-op Solutions.

BUSINESS OBSERVER

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PUBLIC COMPANIES

THE LISTS

Company

2025 Revenue 2024 Revenue Growth Top Executive

Industry

Line of Business

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

$62,508,086,000 $58,452,436,000 Patrick Zammit, CEO 6.94%

Technology

leading distributor and solutions aggregator for the IT ecosystem

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

$29,802,000,000 $28,883,000,000 Michael Dastoor, CEO 3.18%

Manufacturing

global manufacturing, engineering and supply chain solutions provider

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

$14,065,000,000 $12,821,000,000 Paul M. Shoukry, CEO 9.70%

Banking/finance/investment

wealth management

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

$12,365,000,000 Timothy Donahue, $11,801,000,000 President and CEO 4.78%

Packaging

packaging for consumer goods and industrial products

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

$12,052,400,000 Bruce M. Bodine Jr., $11,122,800,000 CEO, President and 8.36% Director

Agriculture

concentrated phosphate and potash crop nutrient mining

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

$8,504,000,000 $9,049,000,000 W. Gil West, CEO -6.02%

Business/consumer services

leases vehicles and equipment

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

$7,902,500,000 L. Neil Hunn, President $7,039,200,000 Technology and CEO 12.26%

software and engineered products and solutions

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

$4,376,000,000 Lawrence H. Silber, $3,568,000,000 CEO and Director 22.65%

Business/consumer services

equipment rental supplier

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

$4,013,178,000 John C. Corbett, CEO $2,472,890,000 and Director 62.29%

Banking/finance/investment

loans and other financial services

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

$3,955,996,000 $3,950,475,000 Michael Spanos, CEO 0.14%

Hospitality/restaurant

casual dining restaurant chain owner

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

$2,309,288,000 William Brett McGill, $2,431,008,000 CEO, President and -5.01% Director

Retailers

boat retailer

The Baldwin Group (BRP) 4211 W. Boy Scout Blvd., Suite 800, Tampa 33607 866-279-0698; baldwinriskpartners.com

$1,504,884,000 $1,389,037,000 Trevor Baldwin, CEO 8.34%

Other

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

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

$1,374,724,000 Patrick Beyer, $1,307,015,000 President and CEO 5.18%

Technology, healthcare

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

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

$1,329,007,000 Joseph J. Liberatore, $1,405,308,000 President, CEO and -5.43% Director

Business/consumer services

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

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

$1,236,145,000 Paresh Patel, CEO and $1,083,220,000 Chairman 14.12%

Business/consumer services

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

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

$1,222,501,000 Christopher A. $1,015,910,000 Tomasso, President, 20.34% CEO and Director

Hospitality/restaurant

daytime cafe serving breakfast and brunch

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

$847,330,000 $816,985,000 Ernesto Garateix, CEO 3.71%

Banking/finance/investment

provides home, condominium, rental and commercial residential insurance

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

$839,000,000 Sean Bagan, President $805,900,000 Manufacturing and CEO 4.11%

BUSINESS OBSERVER

designer and manufacturer of hydraulic-cartridge valve

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29 500039-1

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THE LISTS

TOP PUBLIC COMPANIES Company

2025 Revenue 2024 Revenue Growth Top Executive

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

BIG BOOK OF BUSINESS Industry

Line of Business

$727,332,000 $660,566,000 Tony Zook, CEO 10.11%

Healthcare

cancer genetic testing laboratory

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

$726,411,000 Frank Lee, Director $700,966,000 and CEO 3.63%

Healthcare

pharmaceutical company that provides nonopioid pain management and regenerative health solutions

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

$570,996,000 Anquan Wang, $390,230,000 Chairman and CEO 46.32%

Financial

global fintech platform

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

$566,184,000 Michael Benstock, $565,676,000 CEO 0.09%

Manufacturing

designs, manufactures and sells uniforms and apparel

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

$335,439,000 Bennett Bradford $296,657,000 Martz, President and 13.07% CEO

Business/consumer services

insurance company that underwrites commercial and personal property and casualty policies

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

$205,939,627 Caroline Beasley, CEO $240,291,611 and Director -14.30%

Entertainment/media/ publishing

radio broadcasting group

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

$104,047,000 Thomas G. Zernick, $143,228,000 CEO -27.36%

Banking/finance/investment

loans and other financial services

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

$60,678,166 $59,448,427 Gary Schubert, CEO 2.07%

Distributor/wholesalers

wholesaler and retailer of perishables and specialty food products

Atlas Builds.

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BUSINESS OBSERVER

500072-1

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BusinessObserverFL.com ■ SEPTEMBER 2026

TOP PUBLIC COMPANIES 2025 Revenue 2024 Revenue Growth Top Executive

Company

BIG BOOK OF BUSINESS Industry

Line of Business

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

$52,844,000 Charles D. Goodwin, $48,102,000 CEO and Director 9.86%

Technology, healthcare

helium plasma technology

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

$44,066,000 John E. Kiernan, $46,643,000 Director, President and -5.52% CEO

Agriculture

land management, agriculture, mining and development

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

$31,566,321 David Portnoy, $31,986,106 Chairman and -1.31% Co-CEO

Healthcare

stem cell blood bank and related research

DataMEDS AI (MEDS) 3000 Bayport Drive, Tampa 33607 844-203-6092; datamedsai.com

23,337,000 Prashant Patel, interim 18,128,000 co-CEO 28.73%

Healthcare

pharmaceutical retailers

LM Funding America (LMFA) 1200 Platt St., Suite 1000, Tampa 33602 813-222-8996; lmfunding.com

$8,844,733 Bruce M. Rodgers, $10,999,648 Chairman, CEO and -19.59% President

Banking/finance/investment

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

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

$6,841,250 Steven Shum, Director $6,532,000 and CEO 4.73%

Healthcare

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

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

$6,816,843 Cory Mertes, Interim $5,541,635 CEO 23.01%

Other

connects investors with water projects, commercializes modulars and filter-free advanced systems for sanitation

THE LISTS

Source: Company SEC filings

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BUSINESS OBSERVER

LARGEST BANKS 1

THE LISTS

Bank SouthState Bank, National Association 1101 First St. S., Winter Haven 33880 800-277-2175; southstatebank.com Raymond James Bank, National Association 710 Carillon Parkway, St. Petersburg 33716 727-567-8000; raymondjamesbank.com The Bank of Tampa 601 Bayshore Blvd., Suite 100, Tampa 33606 813-872-1200; bankoftampa.com BayFirst National Bank 700 Central Ave., St. Petersburg 33701 727-440-6848; firsthomebank.com Climate First Bank 182 37th Ave. N., St. Petersburg 33704 727-335-0500; climatefirstbank.com TCM Bank, National Association 3501 E. Frontage Road, Tampa 33607 888-640-1092; tcmbank.com Citizens Bank and Trust 2 East Wall St., Frostproof 33843 863-635-2244; citizens-bank.com Sanibel Captiva Community Bank 2406 Periwinkle Way, Sanibel 33957 239-472-6100; sancapbank.com Bank of Central Florida 5015 S. Florida Ave., Lakeland 33813 863-701-2685; bankofcentralflorida.com

2025 Revenue

2024 revenue

Change CEO Name

$4,013,178,000

$2,472,890,000

62.29% John C. Corbett, CEO and director

$2,138,692,000

$2,221,585,000

-3.73% Amanda Stevens, CEO

$150,616,000

$147,492,000

2.12% T. Corey Neil, president and CEO

$104,047,000

$143,228,000

-27.36% Alfred Rogers, president and CEO

$90,472,000

$49,584,000

82.46% Ken LaRoe, CEO, chairman and founder

$81,128,000

$77,102,000

5.22% Jacob Eisen, CEO

$74,378,000

$64,734,000

14.90% Greg Littleton, president and CEO

$69,115,000

$60,219,000

14.77% Kyle DeCicco, president and CEO

$62,388,000

$57,945,000

7.67% Paul J. Noris, chairman and CEO

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BUSINESS OBSERVER

BusinessObserverFL.com ■ SEPTEMBER 2026

LARGEST BANKS 10

2025 Revenue

2024 revenue

Change CEO Name

$38,981,000

$36,377,000

7.16% David Key, president and CEO

$31,626,000

$30,862,000

2.48% Kenneth E. Lako, president and CEO

$22,479,000

$18,995,000

18.34% John Thompson, president and CEO

$21,668,000

$15,561,000

39.25% Brandy Young, president and CEO

$18,904,000

$19,785,000

-4.45% Geoffrey W. Roepstorff, CEO

$18,537,000

$18,274,000

1.44% Paula O'Neil, president and CEO

$18,005,000

$16,243,000

10.85% Dennis B. Murphy Jr., president and CEO

$9,965,000

$6,453,000

54.42% William Blevins, President and CEO

$5,810,000

$6,152,000

-5.56% Jose Vivero, chairman and CEO

THE LISTS

Bank Flagship Bank 29750 U.S. Highway 19 N., Clearwater 33761 727-451-2020; FlagshipBank.com Members Trust Co. 14055 Riveredge Drive, Suite 525, Tampa 33637 888-727-9191; memberstrust.com Central Bank 20701 Bruce B. Downs Blvd., Tampa 33647 813-929-4477; centralbankfl.com Waterfall Bank 500 Mclennan St., Clearwater 33756 727-472-3599; waterfallbank.com Edison National Bank 13000 South Cleveland Ave., Fort Myers 33907 239-466-1800; edisonnationalbank.com First National Bank of Pasco 13315 U.S. Highway 301 S., Dade City 33525 352-521-0141; fnbpasco.com Gulfside Bank 333 N. Orange Ave., Sarasota 34236 941-303-4200; gulfsidebank.com Gulf Coast Business Bank 12205 Metro Parkway, Fort Myers 33966 239-345-2265; gcbbswfl.com Century Bank of Florida 716 W. Fletcher Ave., Tampa 33612 813-961-3300; centurybk.com

BIG BOOK OF BUSINESS

500013-1

Source: https://banks.data.fdic.gov/bankfind-suite/financialreporting/report NOTE: FineMark National Bank & Trust was acquired in 2026

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BUSINESS OBSERVER

CREDIT UNIONS

THE LISTS

1 2 3 4 5 6 7 8 9 10

Credit Union Suncoast Credit Union MIDFLORIDA Credit Union Grow Financial Federal Credit Union Achieva Credit Union GTE Financial Publix Employees Federal Credit Union USF Federal Credit Union FloridaCentral Credit Union Trax Credit Union Tampa Bay Federal Credit Union

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

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

2025 assets $19,684,065,503 $8,789,723,952 $3,790,389,662 $3,069,336,648 $2,989,564,099 $1,678,509,509 $1,382,442,708 $614,723,619 $487,739,090 $477,906,522

Change 10.34% 7.96% 2.00% 5.95% 1.59% 9.01% 14.79% 2.36% -3.32% 8.59%

Source: National Credit Union Association

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 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

2025 members 1,377,016 488,867 295,094 230,346 214,497 123,371 78,887 45,052 43,564 36,533

Change 8.25% 2.55% 5.05% -1.40% 5.73% 5.34% 4.23% 0.40% 2.01% 5.70%

Source: National Credit Union Association

Better Decisions, Less Stress

Our purpose is to support business owners, families, and affluent individuals in pursuing their life goals through comprehensive multi-generational planning and investment management. We offer a disciplined approach grounded in core values and principles that guide our work and decision-making process. Headquartered on Florida’s Gulf Coast, we serve clients throughout the U.S.

FourThought is ranked as one of America’s Top 250 (2025) registered investment advisory firms by Forbes/SHOOK.* *Source: Forbes.com (Awarded Oct 2025) Data compiled by Shook Research LLC based on time period from 3/31/24-3/31/25. View Forbes full rankings and methodology: https://www.forbes.com/sites/rjshook/2025/10/01/methodology-americas-top-ria-firms-2025/. Awards and recognitions, including those from Forbes and SHOOK Research, were independently determined; however, FourThought paid a licensing fee to use the logos in marketing materials.

Call us today at 941-408-8557 or toll-free at 866-209-8557 to schedule a meeting. 310 West Venice Avenue, Suite 201 | Venice, FL 34285 | fourthought.com 34

BUSINESS OBSERVER

500014-1

Advisory services provided by FourThought Financial Partners, LLC. FourThought Private Wealth is owned by FourThought Financial Partners, LLC (FFPLLC) an SEC-registered investment advisor. For information pertaining to FFPLLC please contact FourThought Private Wealth or refer to the SEC’s website, www.adviserinfo.sec.gov.

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THE LISTS

CHAMBERS OF COMMERCE Member firms

Address

Board chair

SWFL Inc. 20041 South Tamiami Trail Unit #3, Estero 33928; (239) 992-2943

Top local executive

Website

Tyler Kitson, Kitson & Partners

5,000

Tiffany Esposito, President/CEO, tiffany@swflinc.com

swflinc.com

Manatee Chamber of Commerce Inc. P.O. Box 321, Bradenton 34206 941-748-3411

Stu Henderson, Fawley Bryant Architecture

2,140

Jacqueline Dezelski, President/CEO, jackid@manateechamber.com

manateechamber.com

Greater Sarasota Chamber of Commerce 1945 Fruitville Road, Sarasota 34236 941-955-8187

Jennifer Rominiecki Marie Selby Botanical Gardens, CEO

1,525

Heather Kasten, President/CEO, hkasten@sarasotachamber.com

sarasotachamber.com

Greater Naples Chamber of Commerce 2390 Tamiami Trail N., Suite 212, Naples 34103 239-262-6376

Jason Korn, Dentons Cohens & Grigsby P.C.

1,400

Kristina Park, President/CEO, kristina@napleschamber.org

napleschamber.org

St. Petersburg Area Chamber of Commerce 100 Second Ave. N. #150, St. Petersburg 33701 727-821-4069

Owen LaFave, The Bank of Tampa

1,400

Chris Steinocher, President/CEO, ceo@stpete.com

stpete.com

Tampa Bay Chamber 201 N. Franklin St. #201; Tampa 33602 813-228-7777

Edwin Narain, AT&T

1,400

Robert Rohrlack, President/CEO, brohrlack@tampachamber.com

tampabaychamber.com

Lakeland Chamber of Commerce 35 Lake Morton Drive, Lakeland 33801 863-688-8551

Lori Martini, GiveWell Community Foundation

1,200

Amy Wiggins, President & CEO, president@lakelandchamber.com

lakelandchamber.com

Punta Gorda Chamber of Commerce 252 W. Marion Ave., Punta Gorda 33950 941-639-3720

Justin Brand, Lee Health Foundation

1,100

Sean McLaughlin, CEO, chamber@puntagordachamber.com

puntagordachamber.com

Charlotte County Chamber of Commerce 2702 Tamiami Trail, Port Charlotte 941-627-2222

James Coalwell, Pinnacle Financial Partners/Synovus Bank

1,000

Bob White, CEO, bwhite@charlottecountychamber.org

charlottecountychamber.org

AMPLIFY Clearwater 1346 S. Fort Harrison Ave., Clearwater 33756 727-461-0011

Eric Waltz, Sandpearl Resort

Amanda Payne, President/CEO, amanda@amplifyclearwater.com

amplifyclearwater.com

950

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Round table Groups

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Network Socials

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BUSINESS OBSERVER

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BusinessObserverFL.com ■ SEPTEMBER 2026

CHAMBERS OF COMMERCE Address

Board chair

Venice Area Chamber of Commerce 597 S. Tamiami Trail, Venice 34285 941-488-2236

Michael Bacon, Bacon Brands

Tampa Bay Beaches Chamber 6990 Gulf Blvd., St. Pete Beach 33706 727-360-6957

Member firms

BIG BOOK OF BUSINESS Website

947

Kathy Lehner, President/CEO, klehner@venicechamber.com

venicechamber.com

Scott O'Berry, Edward Jones

856

Charlie Justice, CEO, ceo@tampabaybeaches.com

tampabaybeaches.com

Englewood Florida Chamber of Commerce 601 S. Indiana Ave., Englewood 34223 941-474-5511

Jessica Souza, Paradise Exclusive Real Estate

845

Doug Izzo, Executive Director, doug.izzo@englewoodchamber.com

englewoodchamber.com

Greater Fort Myers Chamber of Commerce 1520 Lee St. #101 Fort Myers 33901 239-332-2930

Jen Whyte, Fort Myers Brewing Company

800

John Lai, President/CEO, john@fortmyers.org

fortmyers.org

North Port Area Chamber of Commerce 1337 N. Sumter Blvd., North Port 34286 941-564-3040

Michelle Seamon, Fairfield Inn & Suites and Towne Place Suites by Marriott

721

William Gunnin, Executive Director, info@northportareachamber.com

northportareachamber.com

East Pasco Chamber of Commerce 38550 Fifth Ave., Zephyrhills 33542 813-782-1913

Nick Burgess, AdventHealth Foundation

720

Vicki Wiggins, President/CEO, vicki@eastpascochamber.org

eastpascochamber.org

Winter Haven Chamber of Commerce 401 Avenue B N.W., Winter Haven 33881 863-293-2138

Ann Barnhart, AdventHealth

700

Betsy Cleveland, President/CEO, betsy@winterhavenchamber.com

winterhavenchamber.com

The Greater Pasco Chamber of Commerce 16703 Early Riser Ave., Land O’ Lakes 34638 727-842-7651

Robyn Liska, Keller Williams

675

Jamie Minotti, President/CEO, jminotti@greaterpasco.com

greaterpasco.com

South Tampa Chamber 1001 S. MacDill Ave., Tampa 33629 813-637-0156

Tanya Cielo, Sky Strategic Marketing

620

Kelly Flannery, President/CEO, kelly@SouthTampaChamber.org

southtampachamber.org

North Tampa Bay Chamber 28329 Paseo Drive #195, Wesley Chapel 33543 813-994-8534

Angelique Lenox, The Strategy House

589

Hope Kennedy, CCE, President/CEO, hkennedy@northtampabaychamber.com

northtampabaychamber.com

THE LISTS

Top local executive

500038-1

Source: Individual chambers

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BUSINESS OBSERVER

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HOTELS OCCUPANCY RATE

THE LISTS

1 2 3 4 5 6 7 8 9

County Hillsborough Pinellas Sarasota Manatee Collier Pasco Polk Lee Charlotte

2020 48.30% 51.10% 50.70% 53.70% 45.80% 54.10% 49.30% 49.50% 51.20%

2021 66.50% 67.80% 68% 69.70% 65.40% 73.70% 64.40% 68.40% 63.70%

2022 73.30% 69.80% 72.90% 73.20% 69% 69.50% 67% 72.40% 65.40%

2023 71.90% 68.30% 68.60% 68.10% 66.50% 63.50% 62.20% 69.00% 67.20%

2024 74.20% 71.10% 69.40% 71% 64% 68.40% 63.20% 63.90% 57.10%

2025 71.10% 68.60% 66.80% 66.60% 63.80% 63.70% 61.50% 60.20% 55.30%

2021 $272.75 $176.59 $164.54 $133.36 $155.01 $121.10 $106.09 $109.66 $100.68

2022 $303.98 $214.57 $190.77 $169.95 $191.18 $150.21 $104.13 $132.65 $116.70

2023 $293.91 $212.24 $191.49 $173.49 $166.24 $162.87 $159.91 $140.40 $118.10

2024 $327.54 $210.42 $191.10 $176.76 $167.27 $166.46 $158.22 $140.37 $123.03

2025 $326.21 $232.18 $195.28 $177.80 $172.26 $169.80 $162.01 $141.44 $125.61

AVERAGE DAILY RATE 1 2 3 4 5 6 7 8 9

County Collier Sarasota Pinellas Manatee Lee Hillsborough Charlotte Polk Pasco

2020 $228.60 $140.40 $131.03 $108.99 $144.91 $107.45 $97.58 $92.03 $86.97

Source: CoStar

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BUSINESS OBSERVER

BusinessObserverFL.com ■ SEPTEMBER 2026

HEALTH CARE FLORIDA PHYSICIAN GROUPS WITH THE HIGHEST MEDICARE CHARGES Location

Medicare charges

Physicians Main Speciality

HCA Florida Healthcare Physicians

Statewide

$6.9 billion

8,117 Internal medicine

Florida Cancer Specialists and Research Institute

Statewide

$2.73 billion

Bethesda Hospital East

Boynton Beach

$2.06 billion

3,898 Internal medicine

US Anesthesia Partners

Statewide

$1.72 billion

2,905 Anesthesiology

Baptist Health Medical Group

Statewide

$1.68 billion

3,150 Internal medicine

Orlando Health Physicians

Orlando

$1.65 billion

3,398 Internal medicine

Sarasota Memorial Health Care System Physicians

Sarasota

$1.57 billion

1,414 Internal medicine

Cleveland Clinic Florida Physicians (FKA Indian River Medical Center Physicians)

Vero Beach

$1.11 billion

1,356 Internal medicine

NCH Healthcare System Physicians (FKA NCH Physician Group)

Naples

$985 million

876 Internal medicine

Baptist Health Physicians

Statewide

$917 million

1,777 Family practice

AdventHealth Medical Group (FKA Florida Hospital Medical Group)

Statewide

$913 million

2,541 Family practice

Baptist Behavioral Health

Statewide

$810 million

1,648 Family practice

BayCare Medical Group

Tampa Bay

$697 million

1,468 Emergency medicine

BocaCare Physician Network

Boca Raton

$690 million

775 Internal medicine

Intellirad Imaging LLC

Statewide

$672 million

1,158 Emergency medicine

303 Hematology/oncology

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The Bellwether Group

Named to Forbes’ Best-In-State Wealth Management Teams: 2023, 2024, 2025 & 2026 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.

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

1 2 3 4 5 6 7 8 9 10

State California Texas Florida New York Illinois Pennsylvania New Jersey Michigan Georgia Ohio

Physician Groups 36,733 31,498 30,510 24,809 17,613 16,143 14.182 13,853 13,313 13,113

Source: Definitive Healthcare and CMS Physician Compare; February 2024 data

THE LISTS

Physician group

STATES WITH THE MOST PHYSICIAN GROUP PRACTICES

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

Source: Forbes.com (2023, 2024, 2025 & 2026) Forbes Best-In-State Wealth Management Teams ranking awarded in 2023, 2024, 2025 & 2026. 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. CRC 5823674 08/26 © 2026 Morgan Stanley Smith Barney LLC. Member SIPC.

SEPTEMBER 2026 ■ BusinessObserverFL.com

BUSINESS OBSERVER

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Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors do not provide tax or legal advice. Individuals should seek advice based on their particular circumstances from an independent tax or legal advisor.

TOP EMPLOYERS BY COUNTY CHARLOTTE COUNTY

THE LISTS

Employers

COLLIER COUNTY

Percent of total county employment Employees |

Percent of total county employment Employees | Employers

Charlotte County School Board

2,456

3.33%

Collier County Public Schools

2,456

3.33%

Hillsborough County School District

23,000

2.60%

County Government

1,545

2.09%

NCH Healthcare System

1,545

2.09%

HCA West Florida Division

21,000

2.40%

Fawcett Memorial Hospitals

1,201

1.63%

Arthrex

1,201

1.63%

MacDill Air Force Base

16,800

1.90%

Shore Point Health/Advent Health

1,134

1.54%

Publix

1,134

1.54%

University of South Florida

16,280

1.80%

Collier Co. Gov. (excluding Sheriff)

976

1.32%

Tampa General Hospital

12,409

1.40%

BayCare Health System

12,227

N/A

Walmart

976

1.32%

Publix

848

1.15%

Collier County Sheriff’s Office

848

1.15%

Charlotte County Sheriff's Office

757

1.02%

Ritz Carlton Hotel

757

1.02%

AdventHealth West Florida Division

12,000

1.40%

Cheney Brothers

500

0.67%

JW Marriott — Marco Island

500

0.67%

Citigroup

10,800

1.20%

Millennium Physician Group

368

0.49%

Seminole Casino — Immokalee

368

0.49%

Hillsborough County Government

10,093

1.10%

350

0.47%

10 City of Naples

350

0.47%

10 Publix

9,355

N/A

10 Home Depot

Source: Charlotte County Clerk of the Circuit Court & County Comptroller

LEE COUNTY

Source: Collier County Clerk of the Circuit Court & Comptroller

MANATEE COUNTY

Percent of total county employment | Employees Employers

Source: Hillsborough County Clerk of Circuit Court and County Comptroller; BayCare Health System, Publix

PASCO COUNTY

Percent of total county employment | Employees Employers

Employer

Percent of total county employment | Employees

Lee Health

16,506

4.61%

Manatee County School Board

5,804

3.06%

Pasco County School District

13,033

8.99%

Lee County School District

12,264

3.42%

Manatee Healthcare System

2,804

1.48%

Pasco County Government

4,507

3.11%

Lee County Government

9,959

2.78%

Publix

2,600

1.37%

HCA Healthcare

2,959

2.04%

Publix

5,730

1.60%

Amazon

2,500

1.32%

State of Florida

1,860

1.28%

Manatee County Government

2,493

1.32%

BayCare Morton Plant North Bay Hospital

1,835

1.27%

Florida Medical Clinic

1,300

0.90%

Walmart

3,357

0.94%

Amazon

2,365

0.66%

Bealls

2,300

1.21%

Herc Rentals

2,213

0.62%

Blake Medical Center

1,742

0.92%

Pasco County Sheriff’s Office

1,280

0.88%

Gartner

2,000

0.56%

Manatee County Sheriff's Dept.

1,275

0.67%

AdventHealth Wesley Chapel

1,260

0.87%

Florida Gulf Coast University

1,943

0.54%

IMG Academy

1,100

0.58%

Federal Government

1,070

0.74%

10 Shell Point Retirement Community

1,563

0.44%

10 State College of Florida, Mana-Sara

946

0.50%

10 AdventHealth Zephyrhills

945

0.65%

Source: Lee County Clerk & Comptroller

Employer

Source: Manatee County Clerk’s Office; Note: Manatee Healthcare System previously reported as Manatee Memorial Hospital. Includes Manatee Memorial Hospital and Lakewood Ranch Medical Center as of fiscal year 2022

POLK COUNTY

PINELLAS COUNTY Percent of total county employment | Employees

Employer

Source: Pasco County Clerk of Circuit Court and County Comptroller

SARASOTA COUNTY

Percent of total county employment | Employees

Employer

Percent of total county employment | Employees

BayCare Health System

15,755

3.13%

Publix

16,537

4.57%

Sarasota Memorial Hospital

10,753

5.59%

Pinellas County School District

13,210

2.63%

Polk County School District

13,500

3.73%

School Board of Sarasota County

6,642

3.45%

4,576

2.38%

Publix

7,575

1.51%

Lakeland Regional Health

8,279

2.29%

Publix

Pinellas County Government

5,798

1.15%

Walmart

5,523

1.53%

Sarasota County Government

2,879

1.50%

U.S. Department of Veterans Admin.

5,124

1.02%

Amazon

5,500

1.52%

Walmart

1,456

0.76%

Walmart

4,676

0.93%

Polk County Government

5,262

1.45%

PGT Innovations

1,349

0.70%

BayCare Health System

3,402

0.94%

City of Sarasota

932

0.48%

City of North Port

900

0.47%

Raymond James Financial

4,600

0.92%

Johns Hopkins All Children's Hospital

3,865

0.77%

Geico

2,941

0.81%

City of St. Petersburg

3,855

0.77%

City of Lakeland

2,297

0.63%

Target

639

0.33%

10 HCA Florida Healthcare

3,631

0.72%

10 Winter Haven Hospital

2,130

0.59%

10 Lowe’s

555

0.29%

Source: Pinellas County Clerk of Circuit Court and County Comptroller

HILLSBOROUGH COUNTY

BUSINESS OBSERVER

Source: Polk County Clerk of Circuit Court and County Comptroller

Source: Sarasota County Clerk of Circuit Court and County Comptroller Note: PGT is a subsidiary of MITER Brands

BusinessObserverFL.com ■ SEPTEMBER 2026

EMPLOYMENT

BIG BOOK OF BUSINESS TOP 15 EMPLOYERS IN FLORIDA

ORGANIZATIONS OVER 10,000 EMPLOYEES IN REGION Employer

County

Total employees

BayCare Health System

Region-wide

34,130

Publix

160,163

Hillsborough County School District

Hillsborough

23,000

Walmart

119,492

HCA West Florida Division

Hillsborough

21,000

Walt Disney

63,118

MacDill Air Force Base

Hillsborough

16,800

Amazon

50,207

Publix

Polk

16,537

U.S. Department of Veteran Affairs

37,929

Lee Health

Lee

16,506

U.S. Postal Service

36,980

Baycare Health System

Pinellas

15,755

BayCare Health System

34,130

Polk County School District

Polk

13,500

Dade County School District

33,994

U.S. Department of Defense

33,301

Company

Employees

Pinellas

13,210

Pasco

13,033

10 Home Depot

11 Tampa General Hospital

Hillsborough

12,409

11 Miami-Dade County

30,089

12 Lee County School District

Lee

12,264

12 Broward County School District

26.934

13 AdventHealth West Florida Division

Hillsborough

12,000

13 Florida Hospital, (AdventHealth)

26.933

14 Citigroup

Hillsborough

10,800

14 Universal Orlando

26,493

15 Hillsborough County Government

Hillsborough

10,903

15 Orange County School District

24,574

16 Sarasota Memorial Hospital

Sarasota

10,753

31,572

THE LISTS

Pinellas County School District

10 Pasco County School District

Source: FloridaCommerce, Baycare Health System

Note: Baycare Health System has employees in Hillsborough, Manatee, Pinellas, Polk and Sarasota counties Source: County clerk’s office, Baycare Health System

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Construction Accounting Real Estate Law Firm Accounting Professional Athletes Tax

Healthcare Consulting State & Local Tax International Tax Estate & Trust

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SEPTEMBER 2026 ■ BusinessObserverFL.com

BUSINESS OBSERVER

DOC STAMPS

THE LISTS

1 2 3 4 5 6 7 8 9 10

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

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

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

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

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

2024-2025 $61,012,726.60 $61,186,525.67 $31,061,248.75 $64,358,718.20 $2,367,687,061.63 $81,247,783.35 $116,365,582.90 $115,615,343.79 $92,402,433.90 $101,154,453.40

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

5-year Growth 14.28% 8.45% 7.64% 4.07% -3.73% -9.03% -10.53% -12.76% -16.86% -24.81%

Source: Florida Department of Revenue

FLORIDA BUSINESS FORMATIONS 2019

2020

2021

2022

2023

2024

2025

LLCs

310,854

398,575

532,137

533,137

562,716

526,475

561,143

Domestic for profits

95,771

98,816

104,625

93,537

87,210

76,373

67,082

The number of new LLCs created in Florida bounced back in 2025 after dropping 6.4% in 2024. With 561,143 new domestic limited liability corporations created, the number of new LLCs jumped 6.5% last year. That’s still slightly lower than the 562,716 formed in 2023 but far above pre-pandemic levels. Since 2021, Florida has seen 2.71 million new LLCs created, with more than 500,000 every year. The number of domestic for-profit companies formed, however, continues to drop, falling to 67,082 in 2025 — down 12.16% from 2024 — from a five-year high of 104,625 in 2021.

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BUSINESS OBSERVER

BusinessObserverFL.com ■ SEPTEMBER 2026

BIGGEST LAYOFFS Company

Location

Spirit Airlines at Fort Lauderdale-Hollywood International Airport

Fort Lauderdale

Spirit Airlines at Orlando International Airport

Jan. 1 to July 16, 2026 Workers laid off

Date layoff announced May 4

Orlando

796

May 4

Spirit Airlines MCO Infight & Operations Center

Orlando

796

May 4

Amazon

Homestead

616

April 17

Spirit Airlines Spirit Support Center

Dania Beach

551

May 4

Amazon

Port St. Lucie

494

July 16

Republic National Distributing Co.

Tampa

393

April 22

Republic National Distributing Co.

Deerfield Beach

363

April 22

W South Beach & Residences

Miami

337

June 18

Management & Training Corp.

Graceville

259

April 27

Naples Grande Beach Resort

Naples

235

Jan. 27

DHL Supply Chain

Lakeland

203

Feb. 10

Spirit Airlines at Miami International Airport

Miami

181

May 4

Republic National Distributing Co.

Jacksonville

169

April 22

Management & Training Corp.

Panama City

161

April 27

Parsec

Jacksonville

147

Feb. 23

UF Health Shands

Gainesville

139

Feb. 18

Peterson Brands

Fort Myers

135

April 27

Maximus Global Services at Fort Lauderdale-Hollywood International Airport

Fort Lauderdale

123

May 6

Republic National Distributing Co.

Pensacola

121

April 22

THE LISTS

2,529

Source: Florida Commerce Worker Adjustment and Retraining Notification Notices

HOW TO

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Merger & Acquisition Services Serving Business Owners Throughout Florida and Nationwide SEPTEMBER 2026 ■ BusinessObserverFL.com

BUSINESS OBSERVER

THE LISTS

HIGHER EDUCATION 1 2 3 4 5 6 7 8 9 10 11 12 13 14

College New College of Florida University of South Florida Florida Polytechnic University Florida Gulf Coast University National 4-year midpoint Trinity College of Florida St. Leo University Florida College Ave Maria University Florida Southern Southeastern University The University of Tampa Eckerd College Ringling College of Art & Design

Location Sarasota Tampa Lakeland Fort Myers

1 2 3 4 5 6 7 8 9 10 11 12 13 14

College Ringling College of Art & Design University of South Florida New College of Florida The University of Tampa Florida Southern Eckerd College Florida Gulf Coast University Florida College National 4-year midpoint Ave Maria University Florida Polytechnic University Southeastern University St. Leo University Trinity College of Florida

Location Sarasota Tampa Sarasota Tampa Lakeland St. Petersburg Fort Myers Temple Terrace

Trinity St. Leo Temple Terrace Naples Lakeland Lakeland Tampa St. Petersburg Sarasota

Naples Lakeland Lakeland St. Leo Trinity

Average annual cost $7,195 $9,812 $11,583 $12,568 $20,077 $20,297 $21,923 $23,931 $24,860 $28,551 $31,942 $36,211 $38,071 $57,742 Graduation rate 78% 75% 67% 64% 64% 64% 63% 60% 59% 57% 52% 47% 33% 27%

U.S. Department of Education College Scorecard

1 2 3 4 5 6 7 8 9 10 11 12 13 14

College Florida Polytechnic University The University of Tampa University of South Florida National 4-year midpoint Ave Maria University Florida Gulf Coast University Florida Southern St. Leo University Southeastern University Ringling College of Art & Design Eckerd College Florida College New College of Florida Trinity College of Florida

Location Lakeland Tampa Tampa Naples Fort Myers Lakeland St. Leo Lakeland Sarasota St. Petersburg Temple Terrace Sarasota Trinity

Median earnings of alumni $86,592 $62,720 $62,079 $60,377 $59,489 $59,369 $58,753 $58,644 $50,572 $49,311 $48,651 $46,022 $43,848 $35,285

1 2 3 4 5 6 7 8 9 10 11 12 13

College University of South Florida Florida Gulf Coast University University of Tampa St. Leo University Southeastern University Florida Southern College Eckerd College Florida Polytechnic University Ringling College of Art & Design Ave Maria University New College of Florida Florida College Trinity College of Florida

Location Tampa Fort Myers Tampa St. Leo Lakeland Lakeland St. Petersburg Lakeland Sarasota Naples Sarasota Temple Terrace Trinity

Enrollment 37,207 13,874 10,572 6,721 4,813 2,656 1,888 1,689 1,662 1,298 843 588 148

Entities on this list are public and private nonprofit colleges or universities in the Business Observer’s coverage area that offer at least a bachelor’s degree. Cost includes tuition, living costs, books and supplies and fees minus the average grants and scholarships for federal financial aid recipients. Data is from 1996-97 through 2025-26.

COLLEGE FINANCIAL HEALTH 1 2 3 4 5 6 7 8 9 10 11

School

Location

Overall Score

Overall health

Cost

% Admit

Admin % points

Total undergrads

Enrollment Percentage

Endowment

University of South Florida University of Tampa Ave Maria University Florida Gulf Coast University Florida Polytechnic University Southeastern University Eckerd College Florida Southern College New College of Florida St. Leo University Trinity College of Florida

Tampa Tampa Naples Fort Myers Lakeland Lakeland St. Petersburg Lakeland Sarasota St. Leo Trinity

4.3 8.7 9.8 14.7 17.2 19.1 23.8 25.5 29.2 55.5 61.5

Healthy Healthy Healthy Healthy Healthy Healthy Normal Normal Normal Distressed Distressed

$9,812 $36,211 $24,860 $12,568 $11,853 $31,942 $38,071 $28,551 $7,195 $21,293 $20,297

43.20% 40.30% 41.40% 63.40% 57.50% 53% 75.80% 64.40% 73.20% 78.40% 91.90%

-1.5 -10.4 -1.4 2.90% 2.20% 6.5 4.1 19.1 12.2 5.9 18.2

37,207 10,572 1,298 13,874 1,689 4,813 1,818 2,656 843 6,721 148

22.90% 49.70% 22.30% 1.80% 17.50% 41.10% -5.70% 5.40% -1.10% -41.9% -27.10%

$708.3 million $77.1 million $11 million $103.8 million $4.3 million $10 million $95 million $130.6 million $49 million $76.1 million $1 million

NOTE: RIngling College of Art and Design in Sarasota and Florida College in Temple Terrace aren’t on the list. Source: openschoolranking.com; US Department of Education; NSF; Ilya Strebulaev/Stanford. Open School Ranking was founded by Dan Ye, a lecturer at Johns Hopkins University and founder of CollegeNode. KEY: Lower score means school is more fiscally healthy Cost: Average annual in-state cost of attendance after financial aid. Admit percentage: Share of applicants admitted in the most recently reported year. Lower means more selective Admin percentage points: Change in admittance rate since 2015, in percentage points. A positive number means the school is admitting a larger share of applicants — typically a sign of a weakening applicant pool. Enrollment percentage: Percent change in undergraduate enrollment from 2015 to the most recently reported year, which is 2023 and 2024. Negative numbers indicate enrollment loss — the single strongest predictor of fiscal distress.

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INFLUENCERS & INNOVATORS Saying so long to the status quo requires a mix of guts, grace (when failures happen) and above all else, a greatness mindset. These nine leaders show the way there.

INFLUENCERS & INNOVATORS

“The vision was that this should be for the whole family,” Feld Entertainment CEO JULIETTE FELD GROSSMAN says of the company’s monster truck shows.

LORI SAX

Juliette Feld Grossman INFLUENCER INTEL CEO, FELD ENTERTAINMENT

eld Entertainment has been wowing crowds for nearly six decades. What has enabled it to keep fans coming back to its live productions is not some new technology or crazy software. “The biggest innovation in our business comes from listening to fans and observing fans,” says Feld Entertainment CEO Juliette Feld Grossman, 42. That fan-centric attitude has driven the north Manatee County-based company’s evolution into a 365-day entertainment provider with a broadening audience base. Its Disney on Ice

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production alone has attracted 320 million fans across 74 countries in its 45-year history. (Feld Entertainment operates a variety of productions: Disney on Ice, Ringling Bros. and Barnum & Bailey, Monster Jam and Monster Energy AMA Supercross. Company officials decline to disclose specific revenue figures.) The company was founded in 1967 by Feld Grossman’s grandfather, entrepreneur Irvin Feld, after he bought Ringling Bros. and Barnum & Bailey. Irvin Feld’s son Kenneth Feld ran the business for some 30 years, and in 2013, he moved the company’s headquarters from Virginia to Ellenton in Manatee

County. Innovation has been a key part of the business since nearly the beginning, as the company, under all three generations of the Feld family, constantly tweaks to keep audiences engaged — and coming back. An innovative constant at Feld is to constantly challenge assumptions, and not do things the way they have always been done. “What the Feld family has instilled in our culture is a spirit of entrepreneurialism,” Feld Entertainment President Stephen Yaros says. “You are encour-

See FELD page 54

Feld Entertainment CEO Juliette Feld Grossman says her predecessor and father, Kenneth Feld, has been her biggest influence in the industry. The elder Feld, CEO from 1984 to 2024, now chairs the Manatee County company’s board. “My dad has always been really good at evolving with the times,” Feld Grossman says. “What I take from him is always looking to the next thing,” she adds. “What else can we do that the audience doesn’t yet know that they want?”

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INFLUENCERS & INNOVATORS ROB HIGGINS graduated from USF in 2001.

Rob Higgins CEO OF ATHLETICS, USF

n a recent conversation about innovation in college sports, Rob Higgins, CEO of Athletics at the University of South Florida, drops in ice hockey to prove a point. While USF has a Division III NCAA club hockey team, Higgins goes pro for this theory. USF, he says, channels NHL legend Wayne Gretzky in its strategy on navigating, and succeeding, in the high-stakes, fast-moving world of college sports by going, as Gretzky once said, “where the puck is going to be, not where it’s been.” That innovation, to go where the multibillion-dollar industry will be, not where it’s been, crystallizes why the USF board and then-President Rhea Law named Higgins USF’s firstever CEO of Athletics in September 2025. Not only is the title new for USF, 50

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the school is the first major Division I university in the country to transition from having an athletic director to a CEO in charge of sports. In a similar but different move, a few months before USF announced Higgins as CEO of Athletics, Stanford University hired a major company CEO, John Donahue of Nike, as its athletic director. “This is a really unique time right now,” says Higgins, 47. “College athletics are changing by the second. The current model isn’t sustainable, but the chaos creates opportunity.” That college sports chaos is farreaching, from millions of dollars in Name, Image and Likeness funds that allow schools and boosters to transfer portals. In some ways, the CEO of Athletics title at USF, beyond innovation, reflects the realities of overseeing an entity with a $106.4 million budget, some 500

MARK WEMPLE

student-athletes and 300 employees that’s in the middle stages of building a $348 million, crown-jewel, on-campus football stadium. “This is a nine-figure enterprise that needs to be run like a Fortune 500 company,” Higgins says. That belief system seems to be catching on. Higgins gets a call at least once a week from other universities, asking about going from AD to CEO. And in June, the University of Kentucky loosely followed USF in naming J Batt CEO of Champions Blue LLC and UK Athletics Director. Champions Blue, according to the university, is a nonprofit holding company for UK Athletics. “If you are using the old playbook of athletic directors,” says Higgins, “you are really missing out on opportunities.” SUPER MOVE The opportunity for Higgins to be in line to be USF’s first-ever Athletics CEO was, in many ways, paved in green and gold (the school’s colors). Higgins’ parents

INFLUENCER

INTEL

Rob Higgins cites NFL Hall of Famer Lee Roy Selmon as having an outsized influence on his career. Selmon was athletic director at USF, in addition to other business ventures and civic engagement roles, after his legendary nine-year career with the Tampa Bay Buccaneers ended in 1985. Higgins worked directly for Selmon in the early 2000s at USF, saying his mentor, who died in 2011, would always look to help, not reject, ideas the young sports leader came up with. “Sitting in his seat now is surreal,” Higgins says. “He was a hero of mine. I learned from Lee Roy how to treat people and how to spend each day spreading kindness.”

See HIGGINS page 55

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INFLUENCERS & INNOVATORS MARLEE STRAWN was awarded the Alumni Innovation Award from USF’s College of Education in May.

Marlee Strawn CO-FOUNDER, SCHOLAR EDUCATION

ne of the most important things to know about Marlee Strawn, whose career has jumped from teacher to founding principal of a high school to her current role, is that, despite all this, it took her a while to accept the title of innovator. The co-founder of Tampa-based education technology startup Scholar Education, Strawn, 38, has always seen herself as more of a problem-solver, someone who could easily put the puzzle pieces together to reach a solution. But that didn’t immediately signify, to her, “one who innovates.” “Recently, I’ve been more reflective and realized that I am a creative person,” she says. “I’m a creative problemsolver. Just because, by definition, most people don’t put that as an innovator, I had to kind of reframe my thought process about it all.” While Strawn may have come to that self-assessment on a delay, the outward trajectory of her career shows someone

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immediately interested in making an impact on their industry and influencing others. She graduated from USF in 2009 and soon landed a job teaching Advanced Placement World History, AP Psychology and AP European History in high school. Strawn was successful, receiving a statewide award for social studies teaching. But she wanted more. “I loved what I was doing in the classroom, but I wanted to help teachers with these same strategies,” she says. “And that’s what motivated me to become an administrator, but I always had this unique ability to be a critical thinker and a problem solver, and I think that has translated in thinking outside the box and having the ability to not do what is the norm and meet the kids where they’re at in different ways and support them in different ways.” Her joke was always that she didn’t have a particular talent — she couldn’t

MARK WEMPLE

sing, she didn’t dance, but her special skill lay in her ability to zoom out and see the entire picture. Her students used to kid that she really did have eyes in the back of her head. OPPORTUNITY CALLS After working nearly a decade in Hillsborough schools and rising through the ranks to become assistant principal of curriculum, Strawn made her next

INFLUENCER

INTEL

Marlee Strawn received the Alumni Innovation Award from USF’s College of Education in May. The first and only person in her family to go to college, it was a full-circle moment. “I always saw education as an opportunity to change my life and have a different life than my upbringing,” she says. “That’s part of the reason why I chose to go into education, to be the type of teacher I was looking for as a student.”

shift as founding principal of Tampa charter Dr. Kiran C. Patel High School. It didn’t fall in her lap — instead, while reading an article about the charter’s approval, she realized the school had everything that interested her: projectbased learning, a Cambridge International Education program, and the opportunity to build something from the ground up. “I just sent them an email saying, ‘Here’s everything about me and this is why I want to be the principal,’” she says. “... Something told me this was a once-in-a-lifetime opportunity to build a school from scratch.” In much the same way, her decision to launch Scholar Education with serial entrepreneur Ed Buckley III came through a combination of serendipity and timing. By the time Buckley contacted her to meet about a potential education technology initiative, Strawn was already navigating the nuances of generative AI on a school level as a principal. With the public emergence of ChatGPT in November 2022, teachers were coming to her with concerns about students cheating in a way they had never seen before. “The kids were already 10 steps ahead of us,” she says. “... I’m a selfproclaimed techie, and I’ve always leveraged technology to do my job in a variety of ways. But that triggered me to create my first account and start playing around. Immediately, I was like, this is probably the most powerful technology we have seen in quite some time.” Buckley, for his part, saw classrooms as the next frontier for AI-based technology, particularly after 2023 Florida legislation broadly expanded access to school choice vouchers. A friend suggested he reach out to Strawn, and they immediately clicked. And even though he contacted roughly 30 people to get feedback and insight, it was Strawn who became the clear front-runner as a partner in the project. “When you put together my background and my need for someone with her background, it was a beautiful marriage of synergies,” Buckley says. “She was curious and hungry for new things and to be proven wrong.” Scholar Education launched in 2023 with one teacher and a classroom of 150 seventh graders. With that class’ feedback, Buckley and Strawn tweaked the first product. That was BaxterBot, a generative AI tool in the form of one of Buckley’s dogs that works as a sort of individualized tutor for each stu-

See STRAWN page 54

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Monster Jam trucks weigh 12,000 pounds apiece.

FELD from 48 aged to take ownership and make decisions … I’m talking like real decisions, big decisions that change the company’s direction, and people are encouraged to do it without the fear of failure,” regardless of their titles. One of the major areas in which Feld Grossman has sparked a shift with innovation has been in the Monster Jam franchise, changing monster truck rallies from primarily male-dominated events. It began with curiosity and vision. “The vision was that this should be for the whole family,” Feld Grossman says, while Yaros emphasizes the curiosity side. Feld Grossman, he says, has “helped develop the culture where curiosity is rewarded, and I think that curiosity also is one of the greatest competitive advantages we have as an organization.” TOYING WITH AN IDEA Feld Grossman had not been exposed to monster trucks before she joined the company some 16 years ago. She began working for the company in 2010 as director of strategic planning before becoming COO in 2016 and CEO in 2024. “I’d never been to a motor sport in my life,” Feld Grossman says. “But I immediately loved it.” While watching the crowds at Monster Jam events, Feld Grossman noticed they were predominantly men. Inspired by the energy around the sport and feeling that “Monster Jam is for everyone,” Feld Grossman says: “Over time, we started changing the experience.” One way the company achieved that was through a partnership with toy maker Spin Master to appeal to a wider audience. “They created a truck called Sparkle Smash that was a pink and purple sparkly unicorn Monster 54

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LORI SAX

Jam truck,” Feld Grossman says. The toy gained so much popularity after its 2019 debut that in 2024 Feld introduced Sparkle Smash — the 6-ton monster truck — at its Monster Jam events. Interest in the unicorn-themed truck has continued to surge. At this summer’s Monster Jam World Finals, the “No. 1 super fan event” was themed around Sparkle Smash with all of the truck’s drivers in attendance at a shimmering pink and purple reception. “It’s the kind of event that I don’t know we ever could have imagined we’d be cultivating, but that’s who our fans are now,” Feld Grossman says. “That’s a remarkable validation of the strategy we put in place, and it also says a lot about challenging assumptions.” Families and children — including little girls — were among the more than 60,000 attendees at July’s Monster Jam World Finals, Yaros says. “That wasn’t happening 20 years ago,” Yaros says. “Juliette’s best ideas often start by challenging assumptions that everyone else just accepts.” Feld Grossman also helped develop Monster Jam University, in partnership with the University of Northern Ohio, to train the next generation of monster truck drivers how to drive 12,000-pound trucks. CROSSING OVER Another way Feld Entertainment is changing the traditional way of doing things is by introducing artists and characters from other media into its productions. “Across every property, we’ve been working with YouTube creators and also musical artists and other characters and entertainment to create these collabs that really drive this relevancy and create these cultural moments for fans,” Feld Grossman says. In one case, music and exclusive videos from TikTok sensation and country music star Maddox Batson have been incorporated into Ringling Bros. shows.

An additional crossover is with Blippi, a Netflix character popular with children, who appeared at the pit party at Monster Jam World Finals to sign autographs. “We look at layering things between merchandise and content and live events to create these really full opportunities for our fans that connect them not only with us but also with their favorite other content and performers and creators and artists,” Feld Grossman says. The concept of layering is also woven into shows to reach multiple generations at once. At Monster Jam, Feld Grossman says, kids might be attracted to a truck that looks like a dog or a school bus, while parents may be interested in the drivers and their stories. With all its productions, the company works “very hard to make sure that we always have layers,” Feld Grossman says, including humor that children may find funny and parents can appreciate on a different level. Using a combination of social media and merchandise, the company has also been engaging fans 365 days a year. All Monster Jam events are livestreamed, Feld Grossman adds, which gives those who can’t attend in person a chance to feel a part of the action. ‘RADICALLY EXCITING’ In the age of cell phones and a myriad of distractions, one element is vital to keeping people engaged. “It is on us to make sure that the show we’re making is radically exciting, and so we look at the pacing of our shows very carefully,” Feld Grossman says. “We have a music change, a lighting change, an event — different kinds of tricks, something happening — about every three seconds,” Feld Grossman adds. “You have to be faster than the pace of people’s attention to keep them engaged. That’s what we’re experts in, and that’s what we’re passionate about.” The people behind the shows are the greatest asset Feld Entertainment has, according to Feld Grossman, who leads a team of more than 2,000 global employees and 450 full-time corporate staff. “The single greatest enabler of innovation is creating an environment where people feel they can take risks,” Feld Grossman says. “My job is not to find all these innovations. Most of these things I couldn’t take personal credit for. But to create an environment where people surface ideas and feel comfortable doing that and taking risks and seeking opportunities — that’s the most important thing that I do as a leader.” — ELIZABETH KING

A onetime teacher her students say had “eyes in the back of her head” has turned her innovative approach to special education, aided by AI. STRAWN from 52 dent, trained on their usage and the teacher’s comments. Now, the AI tool includes both BaxterBot and PAWfessor Bruce, offering teachers help with lesson plans and insights from student performance. Eventually, Scholar Education received a grant from the U.S. Department of Education that has allowed it to offer the product for free to schools. If that were to run out, the plan is to offer the tool on a subscription model. NEW PHASE In the early days of the startup, Strawn began to really understand in a micro way what it meant to innovate. Even as a founding principal at Patel, there was a general path, she says, and a barometer for making good decisions: Is this what’s best for the kids? As head of a tech company, instead, “there are a lot of paths to success and a lot of paths to failure.” “You’re kind of constantly asking yourself, are you making the right decision?” she says. “... I don’t have a technical background, obviously, and I have just taken complete ownership over my own learning of how to leverage AI in every capacity. So I am doing things and building things I’ve never thought I would even be saying out loud.” In her day-to-day work, Strawn remains in a constantly innovating phase. For example, in just the last few months, Scholar Education has made a big shift: rather than K-12 education, its new focus will be special education, building the capacity to handle every phase, from diagnostic evaluations to individualized education plans. “No one is really innovating (in) special education,” Buckley says, “but that’s where this huge gap is.” Strawn may still be reluctant to fully call herself an innovator, but she can easily name what it takes to be an innovator: being OK with failure. “Most of the time, you’re learning the most through your failures,” she says. “Your successes are not going to teach you as much about the journey. I would say that, when you’re an innovator, you have to be OK with trying new things and being OK with failing.” — ELIZABETH DJINIS

BusinessObserverFL.com ■ SEPTEMBER 2026

ROB HIGGINS at a spring update for the on-campus stadium.

HIGGINS from 50

happen — not wish for it to happen.” Higgins left USF, but not the region, in 2004, when he was named executive director of the Tampa Bay Sports Commission. But it wasn’t until USF’s graduation ceremony in May 2025, when Higgins was a commencement speaker, when he thought maybe it was time to return to his first love. “And then a month later, something opened up,” he says, referring to then-USF Athletic Director Michael Kelly leaving to take the AD post at the U.S. Naval Academy.

BULLS IN BATTLE Even with the first ever-CEO moniker, some of the day-to-day work Higgins does, while high-profile, is meat-andpotatoes AD stuff. He meets and greets students, staff, alumni and community leaders. He shakes a lot of hands. He uses his stock lines — like “all gas, no brakes” and “the days of using potential as an excuse or crutch are over” — with the vigor of an USF Sports hypeman. He wears a suit every day, usually with a white shirt, always with a tie in a USF shade of green. And over his first year, he’s executed

on any leader’s biggest task: hiring other leaders. For Higgins, that meant hiring football coach Brian Hartline and basketball coach Chris Mack. He also named NFL and College Hall of Famer Derrick Brooks COO of USF Athletics and Jason Layton, a 20-year veteran of college sports administration, chief business officer. All of those new USF Athletics leaders, when introduced to the USF community, talked about their new roles using dreams-come-true language. That can apply to Higgins too, who, in addition to his new CEO role, is a recent cancer survivor — with a familial twist: Higgins was diagnosed in 2024 and went through chemotherapy treatments through the next year — the same timeframe as his dad, Jack Higgins, who also had, and survived, cancer. The medical scare led Higgins to an epiphany: Don’t delay dreams. “The days are long, but the years are short,” he says, “so if you have an opportunity to follow your dreams, you have to take it.” — MARK GORDON

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are USF grads and he grew up loving the Bulls and sports. So much so he was a Bulls basketball ball-kid in high school and team manager when he attended USF. He had a full-time job in USF Athletics, managing facilities and events, before he even graduated, in 2001. “Early on, I understood that this place was special,” Higgins says. “It was a place where you can manifest your dreams. You just have to work for it to

MARK WEMPLE

Rob Higgins treats having first-ever in his title and resume like a privilege, even with the pressure.

INFLUENCERS & INNOVATORS

Higgins had multiple conversations with USF board leaders, including Will Weatherford, who was the chair then and a driving force behind the CEO of Athletics role, and Mike Griffin, who is chair today. The combination of USF and the CEO role, encompassing a variety of revenue-generating efforts, resonated with Higgins. “We literally searched the world,” Griffin said at an event in September 2025 to introduce Higgins as CEO. “Sometimes, the answer is right in front of you. Rob was the first person and the last person we spoke with. There’s something to be said for putting our arms around our alumni. When your (USF) diploma is hanging on that wall, it means something.”

SEPTEMBER 2026 ■ BusinessObserverFL.com

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INFLUENCERS & INNOVATORS

PATRICK HWU, president and CEO of the Moffitt Cancer Center in Tampa, was a researcher who helped develop the science behind immunotherapies to fight cancer.

therapy harnesses charged proton particles to deliver radiation directly to a tumor.” By focusing the treatment directly on the tumor, says Kosj Yamoah, the chair of Moffitt’s radiation oncology department, patients can recover faster because there are fewer side effects to deal with. “There’s a lot of promise. Not only in what we can do this year, but in the coming years with this type of technology,” Yamoah says, crediting Hwu with being “very supportive of these technologies.” “He is a visionary. Dr. Hwu’s leadership is transformative.” And proton therapy is just one piece of what Moffitt is doing, says Hwu.

Dr. Patrick Hwu INFLUENCER INTEL PRESIDENT AND CEO, MOFFITT CANCER CENTER

r. Patrick Hwu, president and CEO of the Moffitt Cancer Center and a preeminent researcher in the advent of immunotherapy, actually considered bypassing medicine to become a journalist. This was in the late 1980s. Hwu grew up in St. Albans, a small West Virginia town in Kanawha County outside of Charleston. The son of a chemical engineer who had immigrated from mainland China, Hwu wasn’t sure what he wanted to do with his life after school. He considered medical research, law, journalism. As part of that thought process, he did an internship at the Charleston Gazette in high school. There, Hwu shared his career considerations with colleagues, mostly veteran reporters, in the newsroom. “It was unanimous — be a doctor! Do not be a journalist,” he says. “They all told me that.” While no doubt Hwu would have made a good reporter, cancer patients

Dr. Patrick Hwu is a decadeslong cancer researcher who sees his mission as extending and improving lives.

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worldwide are better off today because his curiosity has been focused on finding better ways to fight cancer. Hwu, 63, has spent his career at the forefront of cancer research, helping develop new and innovative treatments that are saving lives. And as the head of Moffitt, a job he took in 2020, he leads the organization’s push to find new technologies and treatments that not only allow patients to live longer but have a better quality of life while undergoing treatment. PROTON POWERED Among those innovations is a new proton therapy center that debuted July 27 at Moffitt’s Spero’s campus in Pasco County. Proton therapy, according to Moffitt, is a form of radiation therapy that allows doctors to pinpoint treatment of tumors in the body. Unlike more traditional radiation therapies, which damage the cells around a tumor, by using “high energy X-rays (photons), proton

Along with being a cancer researcher, Dr. Patrick Hwu is an accomplished musician. He started playing piano as a kid and has fronted bands his entire career. At Moffitt, he is part of the ReMissions, a band made up of mostly doctors. Hwu says in eighth grade, he told his parents he wanted to pursue a life in music. It did not go well. His father, who went by Mark after moving to the U.S. from China, was a chemical engineer. His mother, who went by Margaret, was a stay-athome mother who’d studied chemistry in college. “My immigrant Chinese dad, he started screaming at me. He started throwing stuff. He started saying, ‘You’re going to starve! You can’t go into music,’” Hwu says and laughs. “I mean, he’s the one who made me take piano lessons in the first place.”

THE FUTURE? While the proton center opened in July, a 250,000-square-foot research building is scheduled to open at Speros in October. Hwu expects the facility to be nothing less than “the Los Alamos of cancer research.” While that may sound hyperbolic, the idea is to bring together researchers, clinicians, biotech companies and pharmaceutical companies so the disparate groups can work toward the common goal of treating cancers. For example, Moffitt’s metabolism department will work with its engineers and clinicians. While involving engineers may sound counterintuitive, Hwu says they bring a different mindset on how to approach problems and that the field is already permeating immunology, metabolism and nutrition research, as well as ovarian and gastrointestinal cancer research. “When you put that kind of a diversity together, you get magic, and things happen, and products are developed and treatments are developed that you never would have developed alone,” he says. One of the chief goals of the research is the development of radiopharmaceuticals. That’s when you take radioactive particles and bind them chemically to create a bond (in the form of a new drug) that goes to a specific cancer and kills it. To do that sort of work requires infrastructure, Hwu says, including a cyclotron to make radioactive particles

See HWU page 60

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Blair Eadie INFLUENCERS & INNOVATORS

FOUNDER, ATLANTIC-PACIFIC

arasota-based Blair Eadie is a rare breed of fashion influencer, having been in the game so long. She’s had an Instagram account practically since its founding and started her career on Blogspot. Yes, her entry into the industry came when influencers didn’t yet exist and were known as fashion bloggers. In 16 years and as a testament to the speed of technology, that term already seems obsolete. She really started her blog as a way to boost what was then her actual job. “I actually started it thinking, ‘I’m going to document my love of fashion styling outfits to actually help my merchandising career,’” she says. At the time, in 2010, she was working in merchandising in the men’s department of Old Navy, but hoped to move to women’s and more contemporary or luxury brands. “I knew that my resume might have a harder time getting noticed, so I actually started (the blog) from more of a business angle for merchandising.” That era now seems innocent, when blogging was thought of largely as a hobby and not a business, when people were sharing for their love of a topic — not out of hope to make money or find fleeting fame, Eadie says. “Now, when people dig in and they want to become an influencer, content creator, whatever you want to call it, many people are starting with a whole business plan from the beginning,” says Eadie, a 2007 University of Florida graduate. “... It’s much, much, much more calculated. It’s rare nowadays that somebody goes in and creates a whole corporate career and then later says, ‘now, I’m going to influence.’” When Eadie first started her blog, she named it Atlantic-Pacific as a nod to her then location in San Francisco and her northern Virginia roots. And even though many influencers have changed their original brand names in the years that followed to one that more closely resembled their actual name, Eadie, now 41, has stayed true to her original title, Atlantic-Pacific. This is perhaps the easiest way to explain Eadie’s approach to innovation throughout her own career: Know when to take on a new challenge and know when to go back to basics. Her staying power has not come from always jumping on the latest trend but often from staying true to her foundational values. Eadie has now been full-time running her blog, Instagram and brand BUSINESS OBSERVER

partnerships along with her husband, Andrew Powell, the company’s only employee, for almost 10 years. MANY WAYS But how does making money as an influencer actually work? She breaks down her revenue streams into three pots. There’s affiliate marketing, which comes through Instagram or her website, and is a steady but smaller piece of the pie. Then, there are brand partnerships, which are paid posts on Instagram or her site that are sponsored by the brand or store itself, like Nordstrom or Saks Fifth Avenue. In that case, she is paid for the post itself rather than based solely on performance. And the third and perhaps most lucrative but hardest to acquire are licensing and revenue-share agreements, in which Eadie collaborates with a fashion brand, such as Frances Valentine. These collaborations were part of what pushed her to go out on her own. In 2018, she launched her first capsule collection with Nordstrom’s Halogen brand in what is now a stable part of her business. At the time, it felt innovative — to her, Eadie says, though not necessarily in the industry. “When I think about collaborations, I think of the cool Target collaborations, but they are with a brand like Missoni, right?” she says. “I just never thought that I would have a big enough audience or that I would garner enough interest that a $16 billion company like Nordstrom would say, ‘Oh, we want you to do a collaboration.’”

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When colorful New York fashion brand Frances Valentine sought influencers to work with this past spring, the firm’s chief marketing officer, Katherine Brodie, says Blair Eadie was high on the list. In addition to her nearly 2 million Instagram followers, the Sarasota-based Eadie was previously director of merchandising for accessories at Tory Burch, among other corporate fashion roles. “She is someone we’ve always admired,” Brodie says. “She loves color and has a great aesthetic that is so aligned with Frances Valentine, and she was our dream.”

Fashion industry influencer BLAIR EADIE moved to Sarasota in 2019.

NO PLACE LIKE HOME While there is so much Eadie does do, there is also a lot she has chosen not to do — namely, expand her audience to platforms like TikTok and become a more open influencer who shares their breakfast or their latest vacations or their personal life with their followers. “I see it as, those are my strengths, that’s what I’m going to stick to, and I’m going to leave it to other people that want to evolve their content into these other avenues, like TikToks or Reels or speaking to camera,” she says. “The flip side of that, though, is with that kind of air of mystery, I don’t have a super strong parasocial relationship with my audience.” Another unusual angle: being based in an off-the-grid fashion place like Sarasota. Eadie and Powell moved to Sarasota full time in 2019. What was initially a temporary move became permanent when Eadie and Powell saw some of the benefits of the area — more

ANDREW POWELL

space, more time outdoors, closer to family. But that also presented a problem: Her photo backdrops were often urban landscapes, usually recognizable as New York City or some other major metropolitan area. In Sarasota, that wouldn’t be possible. Where would she shoot? Would she lose followers? “It’s a little bit jarring to be walking around town in this crazy Christopher John Rogers gown,” she says. “So I made this decision to pivot my content visually to post on colored walls. I said, ‘Let’s just make it all about the outfit.’ My engagement actually went through the roof, and it was such a weird, fascinating unlock.” Now, Eadie finds eclectic places to shoot in Sarasota — obscure locations that can even be “next to a dumpster,” she says jokingly, but that can also include a cutout wall “where the light hits

See EADIE page 61

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DR. PATRICK HWU plays with his band, The ReMissions, at a show in Tampa in November 2022. GAME CHANGE HWU from 56 Hwu’s focus on innovation to treat cancer harkens back to the beginning and chemists who know how to put the of his career in medicine. When Hwu decided to bypass jourparticles together with a binder and the nalism for medicine, he didn’t want to binders themselves. Then you need a place that can do tri- go into private practice. He wanted to als in radiopharmaceuticals. “We have focus on research — particularly cancer research. all that,” he says.

After graduating high school in 1981, he joined a six-year medical program where students attended Lehigh University for two years and then spent four years at the Medical College of Pennsylvania in Philadelphia. In 1987, Hwu started his internal medicine residency at Johns Hopkins Hospital in Baltimore, spending just two years there because he wanted to be a cancer doctor. Given that, he began looking for a place on the forefront of studying the immune response against cancer. The premier researcher at the time was Steven Rosenberg at the National Cancer Institute in Bethesda, Maryland, just outside Washington, D.C. Rosenberg is a pioneer in the development of immunotherapies; Hwu calls him the father of immunotherapy. Rosenberg became a role model, and Hwu stayed at NCI for 14 years. There, he worked on the study and development of CAR T-cell therapies, widely seen as a monumental advancement in the treatment of cancer. (CAR T-cell therapy is short for chimeric antigen receptor T-cell therapy.) According to Moffitt, the therapy is a type of immunotherapy where a patient’s own T cells are engineered to recognize and destroy cancer cells. (T cells are a type of white blood cell that

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helps the body’s immune system fight viruses and bacteria.) This is how Moffitt describes how CAR T-cell therapy works: T cells are collected and modified “to express a synthetic CAR that targets a specific protein on tumor cells, expanded in number and reinfused back into the patient.” Once inside the body, these “supercharged” T cells bind to the target on cancer cells and eliminate them. In layman’s terms, doctors use the body’s own defense system to fight the cancer. Hwu’s work on the project involved the chimeric antigen receptor (a custom, laborator y-created receptor protein) that now has dozens of FDA approvals. BEDSIDE MANNER Today, Hwu is as an administrator and a researcher — and he also sees patients. And that’s where he sees the innovative results of his work on CAR T-cell therapies firsthand. After NIH, Hwu went to work at the University of Texas MD Anderson Cancer Center in Houston. There, he was the chair of melanoma medical oncol-

See HWU page 61

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HWU from 60

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EADIE from 58

INFLUENCERS & INNOVATORS

ogy and head of the division of cancer medicine. He was at Anderson for 17 years and advised at Moffitt during some of that time. Hwu recalls being told by others that treating melanoma must be depressing because his patients fared so poorly. And that assessment wasn’t wrong: He says 90% to 95% of his patients died within a year. “It was hard,” says Hwu. Hwu is cheerful, outgoing and optimistic. But when he begins to talk about those days and his patients, one can see how difficult it is for him to deal with the harsh realities of what he — and other cancer doctors — deal with every day. “What kept me going was the research. I saw the bright light that immunotherapy could bring to that field,” he says, then, after a pause, perks up again. “Now over half my patients are having their tumors eliminated and living long lives. I’m becoming very deeply attached to them and it’s wonderful.”

Fashionista Blair Eadie finds innovation in consistency and the courage to be different.

in a really cool way at 6 p.m.” When she thinks of innovation in her own career, she comes back to her longevity. People often define her as one of the originals, one of the few still standing in the industry. Her sense of innovation comes from the daily work, the choices to do more or do less in certain avenues that have given her the ability to stay in a field with an incredibly high turnover rate. There’s a balance between stability and nimbleness. “It’s been interesting, because I’ve had to innovate and change daily, weekly, monthly with how this industry has moved,” she says. “But at the same time, it’s almost as if I think I’m still around because I also stuck to my long-term goals of how I want to show up every day and how I want to present myself. I think if I had jumped on every bandwagon and every trend, I don’t think I’d still be around.” — ELIZABETH DJINIS BLAIR EADIE has nearly 2 million Instagram followers.

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VeraData has tapped into machine learning and AI to innovate — and influence — the way nonprofits find and connect with donors.

MICHAEL PETERMAN founded VeraData in 2007.

COURTESY

Michael Peterman FOUNDER, VERADATA

ichael Peterman has long thought charitable organizations are at a disadvantage. They’re tasked with raising money to tackle big problems, but they’re criticized if they approach the task with too much of a business mindset. “You have to go out and you have to fundraise, and it’s expensive to do it,” he says. And if a nonprofit hires the best and brightest to do that and pays them accordingly, or if they spend too much on targeting donors and raising funds? “They’re vilified for it,” he says. Peterman’s innovative approach to solve that issue is VeraData. He founded the Cape Coral-based business in 2007. The goal was to apply a commercial lens to charitable fundraising, using proprietary data, machine learning and artificial intelligence to guide decision-making. The company has worked with some 900 nonprofits since its founding and has helped raise more than $1 billion annually for its clients nationwide. It posted $120.2 million in revenue in 2025, and Peterman proj62

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ects it will reach $164 million in 2026. The company’s overarching goal? To grow philanthropy as a percentage of global GDP. “We want to take it from just under 3% to maybe 4%, maybe 4.5%, who knows,” he says. “The impact of doing something like that would be massive in the world.” Many nonprofits put a sizable focus on the cost to acquire a donor, and the desire is often for the lowest cost possible. By tapping into its massive data set on everything from the language that appeals most to potential donors to which kinds of packaging have high open and response rates, VeraData says it can reduce the cost to acquire new donors by 20% to 30% on average. But the company has also been able to demonstrate which donors pay off most for the organizations. “What we’re often discovering is the source with the highest cost to acquire is actually the best long-term value, and it has been deprioritized because it costs so much up front,” says Peterman, 52. “So we’re looking at this through the lens of what’s best for the long-term health of the charity, and we’re reconfiguring

reduce costs. The company is launching an AI agentic platform in beta testing right now. “Every mom and pop charity in America that has a desire to grow and that has a good thesis, we’re going to level the playing field and democratize access to the intelligence and the pricing structures to put them on the same level as the biggest charities in America,” says Peterman. Peterman considers himself a pioneer in machine learning and artificial intelligence in fundraising. “We were the first to bring this to charities,” he says. “The vernacular was unknown. We would talk about machine learning and support vectors and different types of analytic methodologies, and nobody knew what we were saying. Most people still don’t know.” The company might have more competition in the space now, but Peterman believes its years and years of data still sets it apart. “Artificial intelligence without accurate, complete, timely, consistent data — it’s a jet without fuel,” he says. “... The lift for us is to try to communicate to folks that don’t have a data science background that the key to the success of this is not the algorithms themselves, it’s the underlying data.”

how we think about audiences. I hate to say it’s innovation, but it is innovation in the sector.”

See PETERMAN page 66

ON MISSION VeraData’s innovations have led to the company having an outsized influence on its client’s coffers, which in turn provide opportunity for a big impact on the community. (It is also one reason Peterman was a 2026 EY U.S. Entrepreneur of the Year in Florida.) Consider St. Bonaventure Indian Mission & School in Thoreau, New Mexico. VeraData helped the nonprofit go from being a $3 million a year organization to about an $18 million organization. “I feel like sometimes, when we were a $3 million organization, we were just providing a Band-Aid for a lot of families and issues,” says Chris Halter, the organization’s executive director. “And now I feel like we’re able to provide real long-term solutions.” As a full-spectrum fundraising intelligence enterprise, VeraData’s reach extends beyond just donor analytics to creative services and production, where it’s also able to help nonprofits

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INTEL

St. Bonaventure Indian Mission & School in Thoreau, New Mexico, is a VeraData client; the Cape Coral company founded by Michael Peterman helped the nonprofit grow its asset base 500%, from $3 million to $18 million. St. Bonaventure Executive Director Chris Halter says Peterman has had a large influence on both his organization and him personally. “Michael is just one of those brilliant minds that truly believes in philanthropy as an alternative to big governments trying to help people,” says Halter. “He is just so full of life that it’s contagious. I don’t think he has a negative thought in his entire body. He just believes that anything and everything is possible.”

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Erica Spector Wishnow’s aunt, Betsy Henley, played a key role in advice, connections, support and more, when Wishnow and her husband, Judd, opened their first Dunkin’ location, in the Hudson Valley region of New York state. As a thankyou, the couple named their business “Aunt Betsy’s Dunkin’ Donuts,” or ABDD for short. “She was probably one of the original female entrepreneurs in the ’70s, and I admired her tremendously,” Wishnow says. “I’ve learned more than I can say from her, and I’m incredibly lucky and proud that she’s my aunt.” Today, that company (renamed Southpaw in 2020 with Aunt Betsy’s blessing) owns and operates more than 220 Dunkin’ and Taco Bell restaurants throughout the country.

ERICA SPECTOR WISHNOW opened the first Greenlane in 2023.

MARK WEMPLE

Erica Spector Wishnow CO-FOUNDER, GREENLANE

hen Erica Spector Wishnow found herself on family road trips during the pandemic, she kept running into the same frustrating problem. A vegetarian and mother of two young children, she wanted a quick, healthy meal on the go. Instead, every highway exit offered the same familiar choices — burgers, fries and fried chicken. While her family could grab food through a drive-thru, she often settled for an apple or a granola bar. “I remember I kept saying, ‘I’m just hungry. Why can’t I just get a fresh salad in a drive-thru?’” says Wishnow, 44. “There wasn’t an option.” Today, the answer to Wishnow’s simple question sits on busy corners across Tampa Bay, where bright green buildings bearing the name Greenlane challenge decades of assumptions about fast food — and prove convenience and nutrition don’t have to be mutually

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exclusive. Instead of burgers and fries, customers drive away with oversized wraps, crisp salads and protein-packed boxes — all made fresh and served with the speed consumers expect from traditional drive-thru restaurants. Wishnow opened her first Greenlane restaurant on Gandy Boulevard in Tampa in 2023 and now operates five locations throughout the area, with a sixth ready to open in Pasco County by the end of the year. “It takes a lot of time and energy to build something from scratch,” says Wishnow, who splits her time between living in Connecticut and working in Tampa. “But I felt like I had nothing to lose. All I saw was upside and that was like the rocket fuel behind turning this idea into a reality.” BORN FROM EXPERIENCE Wishnow began her career in investment banking before entering the franchising world with her husband, Judd. In 2010, despite having no restau-

rant experience, the couple purchased their first 11 Dunkin’ locations, in central New York state. Many questioned whether the young entrepreneurs in their 20s could succeed. One of those skeptics was Chris Kern. At the time, Kern, 52, worked for Dunkin’ Brands, overseeing hundreds of franchise locations throughout the Northeast. He remembers meeting Wishnow and her husband during franchise orientation, when they confidently declared they intended to own 100 stores one day. “I laughed,” Kern says. “I think I literally told them, ‘Sure, we’ll see about that.’” Today, the couple’s company, Southpaw, owns more than 220 Dunkin’ and Taco Bell locations across eight states. A core defining characteristic of both Southpaw and Wishnow’s approach to innovation is, as she says, relentlessness. “Every challenge is an opportunity to figure out another way through it,” she says. “It’s honestly just really, tremendously hard work, but you can’t

take no for an answer.” Kern and Wishnow talked often about building a brand together someday, and when the pandemic reshaped consumer behavior, the timing felt right. That became Greenlane. “We created everything,” Wishnow says. “From the menu and branding to the name, the colors, the font, the design of the drive-thru — every detail came from our brains to paper to the actual build.” OPEN OPPORTUNITY The pandemic accelerated two trends that convinced the founders they were onto something innovative. The first: Drive-thrus became more important than ever as dining rooms closed nationwide. Second: Consumers became increasingly focused on health and wellness. And despite these shifts, few if any restaurants seemed to be responding by offering healthier options with the convenience of a traditional fast food drive-thru. “We saw a huge gap in the market,” Kern says. Rather than creating another salad shop with premium prices, the founders envisioned something different: affordable, freshly prepared meals served quickly through a drive-thru-only format. A smaller building lowers costs, allowing Greenlane to serve up premium ingredients at a low price point

See WISHNOW page 66

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WISHNOW from 64

PETERMAN from 62 VeraData still offers clients free proof of concept, a holdover from its startup days. “If we don’t improve your results, you don’t have to pay us,” says Peterman. “Nobody else is willing to put skin in the game like that.” That guarantee matters. “VeraData is one of the most ethical companies that I’ve ever worked with and they are completely transparent with what their costs are,”Halter says. “And what I’ve liked about Michael personally is if something is not working, he gets into the problem up to his elbows trying to figure out what went wrong, why it went wrong and how we can correct it. You don’t see that with many CEOs of major companies.”

COURTESY

VeraData, founded by MICHAEL PETERMAN, works with hundreds of nonprofits.

counterparts, but they’re being impacted by either AI job disruption or inflation.” Peterman was raised in an entrepreneurial family, but that doesn’t necessarily mean innovating comes easy. “Innovation requires focus, discipline,

belief,” he says. “There’s nothing easy about innovating … Getting the idea is hard, but taking it from idea to application is even harder. Most good ideas die, because the road to bringing them to life is too difficult.” — BETH LUBERECKI

WHY TAMPA? Even though Wishnow was in Connecticut, and Kern in New Jersey, the founders intentionally chose Tampa as Greenlane’s launch market — with Kern even moving his family to South Tampa to oversee their restaurant’s debut. One of America’s fastest-growing metropolitan areas, Tampa offered more than population growth. It represented a community, the founders believed, where outdoor living, fitness and wellness are priorities. “Year-round, people are outside,” Kern says. “They’re walking Bayshore Boulevard, biking, exercising, going to the beaches, and people are constantly looking to eat healthy and stay fit.” The region also has a reputation for embracing new restaurant concepts,

See WISHNOW page 67

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HARD ROAD A general challenge the company faces is the downstream impact of inflation. “The number of donors at large in this country is down year over year, because people have less and because more of their disposable income is being consumed with these higher prices of goods and services,” says Peterman. “People who don’t have a lot are some of the best donors, as a percentage. They give way more than their wealthy

of around $5 to $12 per entree. Wishnow calls it “affordable luxury.” “We believe everybody should have access to healthy food,” she says “People shouldn’t have to spend their entire paycheck to eat well.”

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BusinessObserverFL.com ■ SEPTEMBER 2026

Tampa-based drive-thru concept Greenlane is redefining convenience with fresh, made-to-order meals — and bringing innovation to an industry sorely lacking it.

making it an ideal place to test and refine a new brand. Since opening the first Greenlane on Gandy in 2023, the company has expanded to Dale Mabry, Fourth Street in St. Petersburg, Lutz and Wesley Chapel, while continuing to post year-overyear sales growth. Company officials decline to disclose revenue figures. As awareness has increased, so has demand for catering and large group orders, creating another avenue for expansion. The duo also found support early on from NFL legend and Tampa Bay Buccaneers Super Bowl winner Rob Gronkowski, who is both an investor and brand ambassador for Greenlane. The now retired tight end is known to make surprise visits to Greenlane, greeting guests at the drive-thru window and serving up The Gronk salads and wraps.

INFLUENCERS & INNOVATORS

WISHNOW from 66

CATEGORY OF ONE Building Greenlane allowed both Wishnow and Kern to rethink what a drive-thru restaurant could be, without the restrictions of the legacy infrastructure that came with their franchised stores. Wishnow remains co-CEO of Southpaw — a job title she shares with her husband. Greenlane stores have a footprint smaller than 2,000 square feet, operating a drive-thru and pick-up only model without a sit-in dining room. Customers don’t just drive around the striking green, lenticular buildings, Wishnow says, they drive through it — ordering from bright LED screens and menu boards while teams inside prepare fresh food in fully automated kitchens. Of course, launching an entirely new restaurant concept has not been easy. The founders say one of their biggest challenges isn’t convincing people to eat healthy, it’s convincing them that healthy food can actually come from a drive-thru. “There has to be an education process,” Wishnow says. “People don’t realize they can get something fresh, filling and affordable without spending $25.” While Wishnow continues to seek new opportunities for this new fast-

MARK WEMPLE

Greenlane co-founders ERICA SPECTOR WISHNOW and CHRIS KERN outside their first Greenlane location on Gandy Boulevard in Tampa.

food category, she keeps in mind the forces that drove the innovation to solve the continuous loop of a problem in the first place. That, and she has a lot of resilience.

“Don’t be afraid to keep making mistakes,” she says. “Ask for help. Don’t be embarrassed.” — ANASTASIA DAWSON

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INFLUENCERS & INNOVATORS CHRIS TOMASSO has been an executive with First Watch for 20 years.

Chris Tomasso

PRESIDENT AND CEO, FIRST WATCH RESTAURANT GROUP

look back at the top innovations of 1983 includes some happenings that lasted and some that didn’t. Consider that was the year Sony and Philips debuted CD players in the United States after a successful start in Japan and Europe. A CD player — to jam out to Michael Jackson’s 19821983 smash hit Thriller, perhaps — cost $1,000. It was also the year a company in Seattle introduced a software product it dubbed Microsoft Word 1.0. One more 1983 debut? An unassuming restaurant opened in Pacific Grove, California, a small town on the state’s central coast. While CD players sit at the bottom of junk drawers today, 43 years later, and Microsoft Word 1.0 is but a distant memory, that restaurant — First Watch — has become an innovative force in the restaurant industry. It has led trends in everything from daytime only hours to a waitlist software app for customers to internal culture processes that have garnered

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the company national recognition as a top place to work multiple times. While not the debut CEO back in 1983, the current First Watch Restaurant Group CEO, Chris Tomasso, sets the tone for the $1.2 billion, east Manatee County company’s innovative approaches and strategies. Tomasso, who grew up in Sarasota — his first job was as a dishwasher at Amish staple Der Dutchman while in high school in the 1980s — was named president of the company in 2015 and CEO in 2018. Among hospitality insiders, Tomasso is seen as a genuine leader who, along with a competitive streak, cares about the industry in general and is often invited to give keynotes at conferences and events. Something he gets a lot of, says Eleni Gates, who worked alongside Tomasso at First Watch for nine years in investor relations and corporate communications leadership roles, is people coming up to him saying some variation of “I love First Watch” or “You

MARK WEMPLE

all are doing a great job.” Gates says innovation at First Watch under Tomasso isn’t an accident. He encourages people to try things, take chances, and if it doesn’t work out, recognize it and move on. Tomasso himself is in that category. Like the time, Gates says, he played a lead role in redesigning the menu to have a whimsical, Alice in Wonderland theme. It was a bust, and it was pulled shortly after its debut. Tomasso talks about it today as an object lesson to try new things and fail fast. “Since day one, he has always encouraged me to try new things and come up with new ideas,” says Gates, whom Tomasso hired at First Watch in 2015 when he was chief marketing officer and who now runs her own company, Gatehouse Communications Strategies. “And that it’s OK to fail.” STEADY AND CONSISTENT Tomasso pairs innovation with relevancy. “If you’re not innovating,” he says, “you will eventually be irrelevant.” At the same time, innovating and encouraging risks doesn’t equate to doing too much, too fast at First Watch. The

company has some 640 restaurants in more than 30 states — about 10 times the number of locations it had when Tomasso joined the business. That was in 2006, when he was named chief marketing officer after a three-year stint as vice president of marketing for Cracker Barrel. Back then, First Watch’s innovation was somewhat connected to its nimbleness, given it didn’t have separate departments for purchasing, culinary or real estate. Under Tomasso’s leadership, the company has surpassed several milestones, in addition to new cities and sales goals. One is an IPO, in October 2021, which raised $182 million. And earlier in 2021, in July, the company moved into a new east Manatee County headquarters. Built by Benderson Development, the twostory, 39,000-square-foot complex, innovative in and of itself, includes a state of the art fitness center for employees; a culinary suite for menu testing; and a high-tech training room and recreational area for the company’s First Watch Academy of Restaurant Management, which brings managers from across the country to the area for one week of immersive training. Expansion in locations, Tomasso says, is designed to be steady and consistent. He talks about the company’s growth in baseball terms, saying the strategy is to play small ball, and hit doubles and singles regularly over time — not just go for a big home run. Playing small ball includes, Tomasso says, remembering where you came

See TOMASSO page 72

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Chris Tomasso once had a license plate with the phrase 2 PT 0 on it. The meaning, and message: He had a 2.0 GPA for a time at college, at the University of Central Florida — but he didn’t let that be his downfall or define his future. “He tells people, ‘Don’t let that be your narrative,’” says Eleni Gates, hired by Tomasso for a media communications role at Manatee County-based First Watch in 2015. “If you tell yourself you can’t, then you can’t. But if you tell yourself you can do it, then you will do it.” Since graduating from UCF in 1993, Tomasso has become an avid UCF Knights fan and engaged alum.

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INFLUENCERS & INNOVATORS

AgWise is bringing a bushel of AI technology to an industry — farming — sorely in need of it.

SARAH MARTELLO grew up on a family farm.

MARK WEMPLE

Sarah Martello CO-FOUNDER AND CEO, AGWISE

arah Martello grew up on a farm outside Wichita, Kansas, where she was primed to be the fifth generation in her family to go into agriculture. “Everyone in my family was a farmer,” she says. “That’s all anyone in my family has ever known.” That includes her grandfather, Flay Mahan, who owned a 10,000-acre cattle farm in Southwest Missouri that bled a bit into Northwest Arkansas. Her four uncles all were farmers and her father, Glen Mahan, had a small farm, in Kansas. But by the 1980s and 1990s, when Martello was a young girl and teenager, her dad couldn’t make enough off the farm to survive, she says. So he went into other lines of work, including running a used car dealership. Martello worked the family farms growing up, where she often thought of ways to not be a farmer. She recalls baling hay, with asthma and allergies, and the baler belt sometimes disguising whether she was about to lift 30

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An early and specific influence on AgWise CEO and co-founder Sarah Martello’s career was Brad Borden, a professor she had at Washburn University School of law in Topeka, Kansas. “He taught me to love tax law,” says the Kansas native, who grew up on a family farm, “and there aren’t too many (students) who love tax law.” While tax law was a career launching pad, her biggest influence today are American farmers, which is why running an AIfueled agriculture software firm like AgWise, she says, “gets me back to where I’m supposed to be. Every farmer is different, but they are all struggling with the same things. They are the heartbeat of America, and they are where my heart is.”

pounds or 90 pounds. The positive side? All the farm work made “me a better athlete,” Martello says, and she used the training regimen to earn a volleyball scholarship to Wichita State. Later she went to law school, became a tax attorney, in Gainesville, and built and sold her own law firm. Now 45 and some 25 years later, Martello is actually in the agriculture industry. Only it’s with software, not soil. And she cultivates AI tools, not air seeders. A company Martello co-founded in 2021, St. Petersburg-based AgWise, has developed a unique platform that includes one element each of soil science, tax law and AI-led blockchain, to, it says, measure, verify and predict outcomes to drive productivity, efficiency, profitability and “put real dollars back in farmers’ hands.” (Martello co-founded AgWise, initially named Transparency Wise, with her husband, Bill O’Neill, a food industry veteran and self-described “meathead.” The pair combined forces after initially meeting at a St. Petersburg running club.) AgWise, run out of spARK Labs by Ark Invest in St. Pete, does its work through three core software services

it offers agriculture clients, with its proprietary blockchain platform as the lynchpin: nutrient tax deductions; R&D tax credits; and an advanced plant and soil analysis tool called Foliar Scripts, which AgWise created with a partner and is patent-pending. AgWise has five full-time employees and O’Neill projects it will hit about $2.3 million in revenue in 2026. They invested about $750,000 on their own in startup costs and have so far resisted equity funding. “It doesn’t make sense at the current rates to dilute your business like that,” says Martello, who is CEO of the company. Taken in total, the promise and potential of AgWise is Martello’s innovative way of contributing to, and being part of, the agriculture industry, which, she says, will always have a piece of heart. Her father had encouraged her to further her education after high school and not go into farming, and Martello, with her Wichita State degree, became the first in her family to graduate from college. She then earned a law degree from Washburn University School of Law in Topeka, Kansas, and a master’s of law degree from the University of Florida Levin College of Law. “The ability to provide farmers with tools and platforms to help them make better decisions is such a gamechanger,” she says. “I get chills just talking about it.” BLENDED APPROACH The crux of both how AgWise works and what it does for farmers lies mostly in its sales pitch: It often meets with farmers too busy farming to know, say, the new benefits of IRS Section 180, which allows farmers to deduct, not capitalize, a host of costs used to “condition, neutralize, or enrich agricultural land,” according to the tax code. Or changes to the tax code that allow farmers to file retroactive claims, up to three years, to qualify for federal R&D tax credits for, AgWise says on its website, the “innovation happening in your fields, barns and feed mills.” And then there’s AgWise’s main innovation — Foliar Scripts. It begins with a soil test of a given farm which then, AgWise says in a LinkedIn post, “removes the guess work in nutrient application by providing farmers with

See MARTELLO page 73

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Chris Tomasso says leading with innovation requires both a passion to try new things and the patience to stick to a strategy. TOMASSO from 68 from. Today, First Watch has four senior vice presidents and seven C-suite leaders, including Tomasso. That fits, given the company has more than 17,000 employees. But there was a time, early in his tenure, when First Watch’s senior leadership team was made up primarily of Tomasso and co-founder and former CEO Ken Pendery. A beloved company leader who left a major impact on Tomasso and many others, in and out of First Watch, Pendery died at 70 years old in 2024. Even with a smaller C-suite, says Tomasso, First Watch had plenty of innovation during that era, when it brought a higher-end competitor to a market dominated by big chains like Denny’s, Perkins and Bob Evans. “Disrupting the legacy family dining market takes innovation,” he says.

RAISE A GLASS Two other keys to innovation at First Watch: It can be in areas that have nothing to do with technology, and innovation can also be found in going back and changing opinions on something when new information is available. On the nontech side, consider the menu item avocado toast. First Watch put the millennial staple on its menu in 2015 — long before other chains added it. First Watch was also ahead of competitors in introducing a robust juice menu, with choices like the Purple Haze (lemon, cane sugar, butterfly pea flower tea and a hint of lavender) and the Kale Tonic (Kale, Fuji apple, English cucumber and lemon). On the second side of innovations, the confidence to reconsider previous decisions, Tomasso says that kind of innovation requires honest and open conversations, where you shelf the ego. First Watch often does that at what he calls “get out of the pool meetings.” These take place at his family’s home in South Carolina, where senior VPs and other leaders meet and have blue sky-like, agenda-led conversations, where they cover issues big and small. One meeting ended up focusing on adding alcoholic beverages. That was long considered a hard no at First

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Watch: Bottomless mimosas weren’t on par with the brand. But after going over pros and cons, the company decided a small menu, now called boozy, can add a new dimension without diluting its family-friendly model. Other innovations that have come out of meetings like those, Tomasso says, are as simple as bringing back complimentary coffee while you wait for a table — which was 86ed during the pandemic — or the type of

fruit on a plate or the portion size of the bacon. All the choices and meetings and conversations, says Tomasso, go toward a stay-ahead-of-competitors mantra, which is why innovation remains important. “We don’t rest on our laurels,” Tomasso says. “We are always looking around the next corner to see what’s coming, and to see where we want to be.” — MARK GORDON

First Watch has more than 600 locations, including this one, which opened on Boylston Street in downtown Boston in 2025.

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MARTELLO from 70

SMALL WINDOW One of the biggest challenges, the AgWise leaders say, is customer education. That includes proving to a skeptical customer base the technology really works. O’Neill and Martello say they have learned several times that farmers would rather talk about bush hogs than blockchain. Another challenge is timing. Industry research, the company says, projects 44 million acres of farmland will change hands in the next three years for a host of reasons, including aging farmers, economic pressures and consolidation. That sense of urgency has Martello exploring major funding opportunities for the first time, to accelerate growth, and also working with UF on some AI partnerships, to accelerate the technology side of the business. That window motivates Martello.

INFLUENCERS & INNOVATORS

precision recommendations” on how to get more output, faster. A farmer helped create the Foliar Scripts formula, says Martello, and “we made a digital version of the program and then we commercialized it.” In some early examples, Martello said on a January 2025 episode of the Slice of Agriculture podcast, Foliar Scripts saved farmers $200 an acre. Going deeper, a May report from the Food and Agriculture Organization of the UN, says “AgWise’s fertilizer recommendation is a sophisticated, data-driven and site-specific agronomy decision-support system designed to provide precise fertilizer advice for farmers and extension services. Functioning as a fertilizer ‘prescription engine,’ it generates tailored recommendations for nutrient rates and blends. “The innovation at the heart of AgWise lies in its evidence-based approach, which stands in stark contrast to traditional, often inefficient, blanket regional recommendations,” the report adds. “Its advice is grounded in extensive response-to-fertilizer datasets that are rigorously analyzed and incorporated into calibrated agronomic models, frequently leveraging advanced

machine learning algorithms.” O’Neill simplifies that by telling prospective clients the company’s AI, blockchain platform and software “helps with the unknowns in the decision-making” of running a farm. “Part of our pitch to farmers is that any business that’s not changing is going out of business,” says O’Neill. “They just haven’t put the going out of business sign up yet.”

MARK WEMPLE

SARAH MARTELLO and BILL O’NEILL co-founded AgWise in 2021.

And while she has no plans to bale hay again anytime soon, she is focused on the future of farms. “Unless agriculture becomes innovative and drives

change,” she says, “then the industry will be left behind and all we will be left with is the big commercial farms.” — MARK GORDON

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