Jacksonville Florida Machinery and Equipment Appraisals
Collateral Evaluation Associates, Inc. (CEA) has provided machinery and equipment appraisals in the Jacksonville, Florida area since 1990. Our expertise as machinery and equipment appraisers includes medical equipment, construction equipment, manufacturing equipment, industrial equipment, and transportation equipment.
CEA provides machinery and equipment appraisals for the following purposes: asset based loans or refinancing; ad valorem tax purposes; allocation of purchase price; condemnation or eminent domain; FAS141/FAS142 reporting; insurance purposes; leasing; corporate conversions, dissolutions, mergers, purchases, sales, etc.
With its diverse economic base, young, energetic population, and high quality of life, Jacksonville experienced substantial growth during the latter decades of the twentieth century and into the twenty-first.
The city is a transportation hub, with a 38-foot deepwater port that ranks with New York as the top two vehicle-handling ports in the nation. It is served by four airports, three seaports, a highway system that links the city to three major interstates, and a rail system served by three railroads—CSX, Norfolk Southern, and Florida East Coast.
The automotive parts and accessories industry is attracted by this logistics network, as well as the fact that less than two percent of the city’s manufacturing industry is unionized. Jacksonville was selected as the site of Southeast Toyota, the largest distributor in the United States, and of a distribution center for General Motors Corp. that serves Georgia, South Carolina, and Florida.
Pulp and paper mills play substantial roles in the local economy, and Georgia Pacific Corp. and Smurfit-Stone Container Corp. are two of the area’s largest manufacturers. Construction equipment and building materials is another key segment of the Jacksonville economy, with Ring Power Corp., U.S. Gypsum, and Florida Rock Industries Inc. among the top employers in the region. Other large manufacturers are Northrop Grumman Corp. (aircraft), Anheuser-Busch Companies Inc. (beer), Vistakon (optical products), Swisher International Inc. (cigars and smokeless tobacco), Medtronic Xomed (surgical products), and Dura Automotive Systems Inc. (automotive components).
Three important naval air stations within the city limits and Kings Bay Submarine Base nearby give Jacksonville one of the largest military presences in the country, topped only by Norfolk, Virginia, and San Diego, California. The total economic impact of the bases in the community is about $6.1 billion annually.
Aviation is a natural fit to Jacksonville. Of the 6,000 naval personnel that exit the military every year in Jacksonville, over 80 percent remain in northeast Florida, supplying the area with a rich resource of aviation skills and related technical experience. Additionally, more than 15,000 students enroll in aviation-related programs in the Jacksonville area. One such program is Florida Community College of Jacksonville’s Aviation Center of Excellence, located at the Cecil Commerce Center, which is also home to one of four airports in Jacksonville.
Import-export operations are a vital segment of Florida’s economy, and Jacksonville is a major center for that activity. World Trade Center Jacksonville, one of six trade centers in the state, assists Florida companies to enter or expand into overseas markets. Along with an international trade library housing 2,500 volumes and 700 periodicals, it provides basic and intensive research, offers monthly seminars on various trade topics, and permits use of its boardroom and several meeting rooms at no charge. Jacksonville is also a pilot city for TradeRoots, an initiative of the U.S. Chamber of Commerce and the National Chamber Foundation, which studies the benefits that trade brings to local communities. The Jacksonville Port Authority manages the Free Trade Zone, an area in which goods arriving from a foreign country are temporarily exempt from import duties unless and until they are permanently delivered to the U.S. The city is home to Foreign Trade Zone #64 and there are designated customs facilities at the Jacksonville International Airport. The city’s top exports are building materials, medical/health and beauty products, transportation equipment, food and restaurant equipment, construction equipment, packaging, generators, and chemicals.
Jacksonville, once abandoned by the motion picture and television industry, is experiencing a renaissance. The Jacksonville Film and Television Office was formed to attract film and video production to the area and helps streamline the production process. As a result, numerous motion pictures, television movies, commercials, and videos were produced in Jacksonville in recent years. Each movie or television series filmed there can add millions of dollars to the local economy, through housing, hiring of a local labor crew, catering, special heavy equipment rental, and expenses.
Items and goods produced: aircraft, machinery, paper and paper products, building products, beer, soft drinks, tobacco, and optical and surgical products.