Tampa Bay Business Journal: November 16, 2012

TAMPA - In this week's Tampa Bay Business Journal segment, editor Alexis Muellner discusses how improved situations at community banks will help business lending, the new permitting process in St. Petersburg, and how mobile technology is changing in-store shopping.

Thirty-eight local banks posted a combined net income of $59.9 million for the third quarter of 2012. That is a 136% increase over the same period last year.

Increasing income will allow banks to lend more money out, spurring even more economic growth.

"We've been in a holding pattern for two years but we're in the budgeting process now and we're gearing up to grow next year," said Burke, chairman, president and CEO of Flagship Community Bank in Clearwater.

The City of St. Petersburg is rolling out a streamlined permit application and review process for construction and architectural firms.

By storing plans electronically and by allowing permitting to be conducted online, the city hopes it can attract new companies to the area.

A number of major retailers are integrating mobile technology into their Black Friday campaigns.

Wal-Mart and Macy's are companies that are using their Facebook pages and mobile apps to feature shopping deals. The businesses hope this create store loyalty by bringing the deals to their customers instead of the other way around.

For more information on these stories, click on the video player on the left or pick up this week's Tampa Bay Business Journal available on newsstands.