For entrepreneurs, the city of Cape Coral is the home of more than 6,000 businesses, including manufacturers who sell their products to customers all over the world.
As of March 2009, the ESRI stated that the median household income is $56,051 and the median age is only 43. About 57% of the population is of working age (18-65 years). 87% of the workforce has at least a high school diploma.
As far as the cultural assets of the city, it is worth mentioning The Art Studio, The Cultural Park Theatre, the Cape Coral Art League as well as the The Historical Museum. In addition to all these, the city holds yearly Independence Day fireworks known as Red, White and Boom.
Since 1985, the German American club conducts a yearly Oktoberfest, based on original German model. Also, the Cape Coral Festival of Arts is an annual feature in the second weekend of January and draws 100,000 visitors.
Regarding the real estate market , Cape Coral is the home of many foreclosed properties as the foreclosure rates rose steeply in the last decade, making the city achieve a ranking number 3 out of 25 as far as the highest closure rates are concerned, in 2009. These foreclosure rates have brought down the values of the home drastically. For example, last year, a new house could be purchased for less than $80,000.
In addition, the state of Florida also gives significant incentives to first time buyers like discounted down payments, low interest loans and tax credit abatement.
Taking all of the above into consideration, Cape Coral has become one of the most attractive cities in the United States, both for regular citizens as well as for business entrepreneurs that want to start a new business on a growing market with skilled employees.
It goes to show that even in a world affected by the global economy, there still are a few examples like Cape Coral, Florida that are doing very well during these difficult times.