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The Up Side Of the Pensacola Economy

Previous articles published on Pensacola Real Estate News have taken a rather dismal view of the local economic outlook, whereas Mobile Alabama has a much better economic outlook. Just 2 years ago Mobile was expected to have one of the fastest growing economies in the nation and it is still on track to recover from the recession better than most cities in the U.S. While the Mobile economy is still expected to have much better growth than Pensacola’s economy, there are some bright spots for Pensacola.
Baptist Health Care in Pensacola Florida is embarking on a new expansion at its facility near downtown Pensacola that should have a favorable impact on the North Hill and East Hill neighborhood property values. Baptist Hospital and its affiliates are already the largest non-governmental employer in Escambia County. Baptist Health Care includes four hospitals, two medical parks, Baptist Manor, Baptist Home Health Care and Durable Medical Equipment, Baptist Leadership Group, Andrews Institute for Orthopedic and Sports Medicine and Lakeview Center.

Baptist Health Care has recently secured financing for the construction of several more operating rooms and support facilities at its main location. These new additions will bring construction jobs, and eventually new clinical and support jobs, numbering more than a hundred, and possibly several hundred more before the expansion is complete. That kind of employment growth should have a measurable impact on the Pensacola Historic District neighborhoods of North Hill, which is just east of Baptist Hospital and East Hill.

Seville_Quarter_Downtown_Pensacola

The concentration of good paying jobs in those areas has already been fueling a steady increase in the number of downtown Pensacola entertainment locations and restaurants. The Will Call sports grill, Hopjacks Pizza, The Ragtime Grill, Blazzues Jazz and Blues Bar and others have opened in the last couple of years. They have been a welcome addition to New York Nicks, Intermissions, the Fish House restaurant, Atlas Oyster Bar, Hub Stacey’s and, the largest and oldest nightlife complex in downtown Pensacola, Seville Quarter (pictured above). The downtown area, that was normally quiet, and mostly uninhabited after dark only a few years ago, now has steady business late into the evening most nights of the week, and entertainment and food for almost any taste.

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