CONSTRUCTION & INFRASTRUCTURE INTERVIEW
Decent value Two key advantages for the Tampa Bay region is the price of land and the lack of restrictions on what can be done with property
Todd Fultz Managing Director – Central Florida, Plaza Construction Have you observed any change in demand due to the Opportunity Zone legislation? While I believe that the legislation will be great for our industry, until more people understand how to take advantage of the Opportunity Zones, this will be a longterm, slow-moving process. When they were trying to move the Rays’ stadiums to Ybor, they were looking to take advantage of an Opportunity Zone present there. We will see more movement like this because of the economic incentives that are associated with these zones. How can businesses in the construction industry help themselves to be more recession proof? The best way a construction business can protect itself is to diversify its business geographically and by product type. For instance, we are working on three residential condos, two hotels and four other commercial-type projects. The key is to try and maintain a presence in a couple of different sectors, and the way to keep that balance is just to be diverse. .
What sets Tampa Bay apart from the other areas in Florida that Plaza Construction services? Tampa has an advantage because the land is still a decent value. In Tampa, developers are also not as constrained regarding what they can do with their property, which can be attributed to that fact we are still very much a small city. There is still a sense of community in Tampa, and when people move here they can feel it. There are great opportunities here for construction companies and developers because the region has three unique centers of business in St. Pete, Clearwater and Tampa. Each one offers something a little different, and they all are starting to work together to create a truly unified region. 74 | Invest: Tampa Bay 2020 | CONSTRUCTION & INFRASTRUCTURE
What factors have contributed to the growth Plaza Construction has experienced in Tampa Bay over the last year? A lot of that growth can be attributed to the economy and opportunities presented by the Tampa Bay region. We have been able to take advantage of those aspects through the relationships we have established in our community. We differ from the competition in the region because our company was started by a developer, so we think like a developer thinks. We are transparent and open in the way we do business, and we never try to sneak anything past our customers. The key has been to treat our customers as partners, but that also means we have to find customers that treat us like partners as well.
