International Taxation Issues  

Luncheon  

FACC, Florida is proud to offer a highly qualified keynote speaker to our members and friends. Please register to this event by April 6th.

Date:       April 20, 2011

Time:       12:30 p.m.  

Location:  Benvenuto Restaurant

Address:  1730 North Federal Highway

                 Boynton Beach, Florida 33435

Fee:         $35.00 / member and $45.00 / non-member  

RSVP by April 6th, 2011 with payment.

Please write checks payable to FACC, Florida Inc. and mail to:  

523  Lake Avenue, Lake Worth, FL 33460   

For questions contact us at info@facc-fl.com   

Economic News from Florida  

Housing Market News

The lingering weakness of America's HOUSING MARKET was ever more apparent with the release of data showing that construction starts of new homes had plummeted by 22.5% in February compared with January, the steepest fall since 1984. The number of building permits issued fell to

the lowest level in 40 years.

There was more dismal news, as the S&P/Case-Shiller home-price index for 20 cities fell by 3.1% in the three months to January from the same period in 2010. S&P said none of the data pointed to "any form of sustained recovery".

Florida´s new governor, Rick Scott promising to create 700,000 jobs in seven years

He lists his priorities to be: reduce state spending, lower taxes, hold government accountable, Make Florida the number one state for job creation, and Create a world class education system. Read more about his statement and his plans on achieving them here.  

The International Economic Forum of the Americas in Palm Beach 

The 1st annual Palm Beach Strategic Forum will be held April 4th, 2011 at the Palm Beach Convention Center. The Forum aims at promoting an exchange of views and perspectives on pressing economic issues of our times among world leaders, renowned experts and business executives.

The International Economic Forum of the Americas works in close collaboration with international organizations such as OECD, IMF, World Bank, UNESCO, development banks as well as leading companies, universities, and national/local authorities.

Chromalloy´s opens a new technology center  in Palm Beach Gardens, FL - bringing 70 new jobs and making county's aerospace, aviation, and engineering cluster stronger 

Chromalloy announced that it is developing a new Technology Center of Excellence in Palm Beach Gardens, Florida, dedicated to the research and development of services for gas turbine engine including repairs, parts and coatings. Chromalloy also intends to move its corporate headquarters to Palm Beach Gardens as opposed to current location in Orangeburg, N.Y.  

 As the world's largest independent supplier of technologically advanced repairs, coatings, and FAA-approved replacement parts for turbine airfoils and other critical engine components for commercial airlines, the military and industrial turbine engine applications, Chromalloy counts as its customers many of the world's major airlines. Chromalloy has locations in 17 countries and has operated in the industry for 60-years.

 Chromalloy recently unveiled the development plans to employees and will begin building out the leased 30,000 square foot facility in Palm Beach Gardens with labs, office space and a 10,000 square foot warehouse. Excellence and headquarters facility will be completed by the fourth quarter of 2011.

 Armand F. Lauzon, Jr., President stated that the area in West Palm Beach is well suited for the business in question due to large aerospace and engineering community. The company has also worked closely with the State of Florida and Office of the Gardens as well as the Palm Beach Gardens City Council. Read the whole story here.  

The United States economy is growing faster than the rest of the world's richest industrial nations 

Measured in growth, the American economy has outperformed those of Japan, Britain, German and France - every group of 7 developed nation except Canada, according to The Associated Press' new Global Economy Tracker, a quarter analysis of 22 countries representing more than 80 percent of global output. The down side of this is that the US is creating less jobs than is needed.  However the U.S. unemployment rate fell to 9 percent in January and 8.9 percent in February.

According to the AP study the fastest-growing countries were China, India, Indonesia - are all in the developing world. The slowest are all European: Spain, Italy and Britain. The United States ranks 12th among the 20 largest economies plus Argentina and South Africa.

Congratulations to the new Mayor of  

West Palm Beach 

FACC had an opportunity to hear the Mayor-Elect, Jeri Muoio addressing the business audience at the Business Development Boards breakfast meeting at the Colony hotel in Palm Beach March 30^th.

Jeri Muoio was appointed to the West Palm Beach City Commission in 2006 and was reelected in 2007 and 2009. Jeri holds a doctorate in Education Leadership from Syracuse University and worked for many years as a school district leader.

As a Commissioner, Jeri Muoio served as Commission liaison to several City Committees including the Cultural Committee, The City Green Task Force, The Water Catchment Advisory Committee, the Education Advisory Committee and she is a member of the Metropolitan Planning Organization.  

At the breakfast, Jeri Muoio addressed the business audience with her 10 Point Job and Economic Development Plan for the city.

1. Marketing West Palm Beach
2. Improve the Construction Service, Planning and Permitting Process
3. Dedicate Infrastructure that is Business-Ready and Business Friendly
4. Focus on Creating Job and Business Clusters
5. Build on Digital Domain
6. Assist local small-business and companies to stay or help them expand
7. Create Programs for Workforce Training
8. Utilize Education to Attract Jobs
9. Utilize our Recreational and Cultural Opportunities to Bring Dollars to Our City
10. Prioritize Building A Convention Hotel

It is encouraging to see the commitment that the city continues to have in developing the business structure of the city.  

We look forward of these improvements and we which her best of luck in the new leadership role.

Leaders from HYRIA Education, Hyvinkää, Finland visiting Palm Beach State Collage,  

Boca Campus in May

Introducing New Members

Business Member - Joki-Pesola Construction

 Jouni Joki-Pesola, owner of Joki-Pesola Construction is a Florida State Certified General Contractor and a Certified Solar Contractor who has operated in Lake Worth and Palm Beach County for over 30 years.

Company's core areas include re-designing and renovating kitchens, living rooms, bath rooms, and any other remodeling. Joki-Pesola has also operated outside Florida state, for example in The Bahamas, Texas and California.

 The company also offers energy production solutions by using solar energy. The Florida state supports these kind of eco friendly households and Joki-Pesola's company is capable of providing an option to create households that are capable of running purely on solar energy.

 Joki-Pesola Construction has been involved in renovating many historical landmark buildings in the Palm Beach area. The company continues to provide reliable design and solutions regarding to constructing and renovating.

 For more information, John Joki-Pesola can be contacted via phone (561-768-1511.)

Introducing a new student intern Mr. Petri Malmi from Finland 

Lady Atlantic's Dinner Cruise on Friday April 29th in Delray 

Join other FACC members on a Dinner Cruise on Lady Atlantic, Friday 29th of April. The five star cruise will travel via Boca Intercoastal.

Boarding beings 6:30pm.

The departure is 7:00pm, return 9:00pm

 The cruise lenght is 2 hours.  

The pricing depends on the menu of choice, the options include following;

Little Italy At Sea Buffet:

Caesar Salad, Chicken Parmesan, Penne Alfredo, Meatballs Marinara, Chef's Choice of Dessert, Coffee & Tea.
$37 per person

Prime Rib Buffet:
Tossed Garden Salad, Oven Roasted Prime Rib of Beef with Au Jus, Mashed Potatoes, Vegetable Medley, Chef's Choice of Dessert, Coffee & Tea.
$48 per person

All reservations should be made 2 weeks prior the departure date, preferably before 15th of April at Delray Beach Cruises ticket office 561-243-0686.

For more information, visit  Delray Beach Cruises. 

Consulate Corner