Survey shows business gains, retail loss

The U.S. Census Business Patterns Survey shows that Longboat Key gained eight businesses between 2010 and 2011.

The data, released earlier in the summer, lists 224 Key establishments — defined by the Census Bureau as a single physical location at which business or services or industrial operations are performed — and 2,287 employees for the pay period that included March 12, 2011, an increase from the 2,129 employees on the payroll as of March 12, 2010.

The increase came despite the fact that the 2010 numbers included approximately 75 employees of the Colony Beach & Tennis Resort who lost their jobs later in the year when the resort closed.

The survey shows that the increase in businesses came primarily from service-based business.

The loss of retail on the Key is part of a decade-long trend that many business owners attribute to a lack of tourist accommodations.

In 2001, the Key had 38 retailers; as of 2011, the number had dropped to 14.

The town will discuss the role of business on the island as part of an upcoming Urban Land Institute Study.
One of the Longboat Key Town Commission-approved questions for discussion is:

What should be the balance of residential, tourism and supportive commercial services to ensure Longboat Key’s status as a premier residential and visitor destination?

Click here to see a breakdown of businesses on the Key.