Winter 2024

Hello Michelle,

We hope everyone had a wonderful holiday season and that your New Year is off to a great start. These are exciting times as our beautiful city continues to grow and thrive!  

We want to ensure that our office is a valuable resource and meets the needs of our residents and businesses. Our quarterly report aims to keep you informed with updates and stats on growth, developments, and new exciting happenings in our city. 

As always, we encourage you to stay in touch and reach out if we can be of service. 

Sincerely,

Office of Business & Economic Development

Cape Coral by Numbers

• Cape Coral's Total Population = 216,9923*

• Labor Force = 126,072* 

• Unemployment Rate for Dec 2023 = 3% (Bureau of Labor Statistics, United States Department of Labor via Data Commons)

• Cape Coral ranked #3 Best Places to Live in 2023 by Forbes

*Per the U.S. Census, 2022.

Incentive Programs

• Demolition Assistance Grant Program (CRA) New!

• B2B - Breaking Barriers to Business Grant Program New!

• All Economic Development Incentives

• View EDO Project Map

Key Economic Indicators

Cape Coral Vacancy Rates*:

• Retail 2.0%
• Office 1.5%
• Industrial 1.6%
• Muti-Family 11.7%



*Per Costar, 12/31/23.

Cape Coral Market Highlights

Cape Coral's Population Growth Model

Cape Coral Recognized as One of the Top Emerging Luxury Cities in America

According to Architectural Digest, Cape Coral is one of America's top emerging luxury cities. To make this determination, data was divided into six categories: activities, properties, dining, annual income, diversity, and safety.

Recently shared on ESPN SW Florida, the article noted that Cape Coral housing prices are up, as are residents’ annual incomes, and that Cape Coral Police keep our city safe. The most significant factor in the rankings was luxury activities, including golf, resorts, spas, shopping, and festivals. Cape Coral has all these amenities and attractions, including high-end property, superb dining, and boating. --> Click here to read the full article

Get Connected at Our Invitation Only Industry Roundtable Meetings

The Office of Business & Economic Development has started hosting a monthly Business Roundtable meeting to connect with industry leaders and discuss challenges faced by the Cape Coral business community.

The forum provides an opportunity to consider the City’s economic outlook and industry-specific opportunities. 

Business & Industry Roundtable Schedule & Featured Topics:

• Friday, February 16, 8 a.m. at City Hall - "Manufacturing"
• Friday, March 15, 8 a.m. at City Hall - "Home Service"
• Friday, April 19, 8 a.m. at City Hall - "Tourism"

For more details, contact apetersen@capecoral.gov.

Business Development Updates

Incredible Bank

2512 Skyline Blvd.

• Expected to open at the beginning of February 2024

Checkers

1628 Skyline Blvd. 

• Expected to open in mid-February 2024 ​

Twin Peaks

410 Andalusia Blvd.

• Project is currently in permitting
• From the start of construction, the completion timeframe is within 4-5 months
• Expected to open in Summer/Fall 2024

Outback Steakhouse

2329 Skyline Blvd.

• Project is nearing completion and expected to open in February or March 2024

Cape Coral Hospital's Intensive Care Unit (ICU) Expansion​

• Opened on January 8, 2024

Shops at Del Mar on Pine Island Rd

327 SW 10th Pl.

• Development of four buildings
• Permits have been issued.
• Three units of 3,575-square-foot standalone buildings
• Fourth building measuring 18,871 square feet
• Use: retail, restaurant and shops
• Expected completion in Dec 2024

Shops at Del Sol Coming soon!

1203 NE Pine Island Rd.

• Development of ten buildings
• Currently going through the site development plan
• Building sizes: from 1,430 SF to 17,403 SF
• Drive-thru with outdoor patio
• Use: Restaurant with outdoor seating, retail, office, and medical services

City of Cape Coral | CapeCoral.gov/EDO