Jacksonville Daily Record 2/10/22

Page 1

FEBRUARY 10 TO FEBRUARY 16, 2022 | JAXDAILYRECORD.COM

BUSINESS & LEGAL NEWS IN BAKER, CLAY, DUVAL, NASSAU AND ST. JOHNS COUNTIES

THE INSURANCE ISSUE

KEEPING THE BUSINESS IN THE FAMILY FOR 87 YEARS

INSIDE

DEVELOPMENT

A look at 9 apartment projects in the works PAGE 14

GOVERNMENT

Plan OKs liquor for smaller restaurants PAGE 4

Photo by Karen Brune Mathis

Fitzhugh Powell Jr. is the third generation insurance agent in his family that has been in business in Jacksonville since 1935. The agency, Cecil W. Powell & Company, is headquartered in the historic Morocco Temple building at 219 N. Newnan St. Downtown.

MORE INSIDE An industry in crisis: Why rates for Florida homeowners are soaring in 2022. PAGE 8 Charts of the total insured value by Citizens Property Insurance Corp. in Florida and the top 10 insurers by total insured value. PAGE 10

Cecil W. Powell & Company, established in 1935 in Jacksonville, is led by its third-generation president. BY MAX MARBUT ASSOCIATE EDITOR

C

ecil W. Powell established his company in Jacksonville in 1935 because he believed the city represented the best opportunity to start and grow an insurance agency. “My grandfather figured out he had sold all the insurance he could sell in Fitzgerald, Georgia. He decided he needed to come to a bigger city, so he came to Jackson-

ville,” said Fitzhugh Powell Jr., the 69-year-old president of Cecil W. Powell & Company and the third generation to lead the agency. “He had eight people in the agency, which was big for the time. The first account was Miller Electric and we still have that account,” Powell said. In the 1960s, the founder turned over the reins to his son, Fitzhugh Powell Sr., who stepped aside as president in the early 1980s to SEE POWELL, PAGE 9

LIMITED TIME OFFER

THE MATHIS REPORT Salsas family has plans for The Avenues

ON DELIVERY!

Sons of the Mexican restaurant founders intend to open Cielo Azul Cocina Mexicana in the former Ruby Tuesday space. PAGE 12

SAVE 50

%

CALL TODAY 877-231-8834 www.jaxdailyrecord.com/special-offer

Promo Code: R806JCC

REAL ESTATE

NEFBA leader: A decade of growth Northeast Florida Builders Association President Joshua Garrison’s main goals as he wants to build membership. PAGE 6

BASCH REPORT

Redwire misses growth target The Jacksonville-based space technology company’s revenue forecast short of prediction. PAGE 18

VOLUME 109, NO. 38 | TWO SECTIONS | PUBLISHED SINCE 1912


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.