Small businesses have yet to fully recover from the impacts of a devastating hurricane season.
Joshua Salman
Original Air Date: Feb. 28, 2025
Host: The Suncoast’s recent encounter with three major hurricanes changed not only the landscape but also dented the local economy. Debby, Helene, and Milton together resulted in nearly one-and-half billion dollars in reported insurance losses here, devastating homes, businesses, and infrastructure. However, beyond the immediate physical destruction, the storms have triggered another one: A formidable economic storm, that is. Josh Salman with the Suncoast Searchlight explains.
Suncoast Searchlight logo.
Joshua Salman: Ed Chiles is a longtime restaurateur and son of former Florida Governor Lawton Chiles. He witnessed this devastation firsthand. After operating waterfront establishments on Anna Maria Island and Longboat Key for nearly five decades, Chiles sold his restaurant group on August 1, to spend more time with his family. Just weeks later, his former Bradenton Beach restaurant was engulfed by sand deposited by Hurricane Debby and the following storms.
“This was the storm we all knew would come someday. We just didn’t know when,” Chiles says.
The economic impact extends far beyond individual businesses. Tourist hubs like St. Armands Circle, known for their unique boutiques and eateries, now display boarded-up storefronts—either permanently closed or awaiting repairs. From the onset of Hurricane Debby through the aftermath of Hurricane Milton, businesses across the Suncoast experienced a staggering $187 million decline in direct revenue compared to the same period the previous year. This downturn marks the most significant economic setback since the COVID-19 pandemic.
Flooded St. Armands Key, in the aftermath of Hurricane Helene.
Typically, summer to early fall is a quieter season for the Suncoast. Activity rises again during winter, when tourists and snowbirds return. Despite this seasonal pattern, the region had seen consistent growth in consumer spending over the past few years. In 2021, gross sales grew by 20 percent during the summer-to-fall period, followed by increases of nearly 10 percent in 2022 and 7 percent in 2023. However, the 2024 hurricane season abruptly halted this upward trend, leading to a 1.8 percent year-over-year decline in gross sales for Sarasota and Manatee counties between August and October.
Economist Christopher Westley from Florida Gulf Coast University highlighted the disproportionate impact on small, locally owned businesses.
The waterline from flooding is visible at a St. Armands Circle store. Photo by Diana Bregman.
He says local Sarasota families with one business have the worst time dealing with anything like this. They don’t have the revenue to deal with what was brought to them by the storms like the large chains did.
This disparity underscores the challenges faced by independent entrepreneurs in the wake of natural disasters.
The prolonged recovery process is evident in areas like St. Armands Circle, where numerous shops remain vacant months after the storms. The visual of boarded-up storefronts serves as a stark reminder of the economic challenges that persist. As the community endeavors to rebuild, there is a collective recognition of the need for resilience and support for local businesses to restore the vibrant economic landscape that defines the Suncoast.
For the Suncoast Searchlight, this has been Josh Salman.
Host: To find the full print version of Joshua Salman’s report, go to suncoastsearchlight.org/after-devastation-suncoast-now-grapples-cat-5-economic-storm.
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