September 2, 2014

Statewide Business Briefs - Jan. 2007

| 1/1/2007

BUYING POWER
MINORITY GAINS -- Disposable income among Florida's African-Americans hit $52.7 billion last year, up 226% from 1990 compared with a 151% gain nationwide over the same period, according to a University of Georgia report. Among Florida Hispanics, buying power rose to $82.2 billion, up 313% from 1990. Florida's Asian buying power jumped to $12.2 billion from $2.4 billion in 1990.

REAL ESTATE
MINORITY LENDING -- Ocala had the largest increase in home loans to African-Americans statewide in 2004-05, at 90.4%, according to a study of mortgage data. The study, conducted by GenWorth Financial, a mortgage insurance company, and ComplianceTech, a mortgage consulting firm, said the increase was concurrent with a rise in predatory loans in minority communities and minority borrowers moving to areas with more affordable housing. Other Florida cities with large increases in minority home loans include Lakeland, 87.9%, Cape Coral-Fort Myers, 76.6%, and Port St. Lucie-Fort Pierce, 53.7%.

AEROSPACE
TEAMING UP -- Florida State University, Embry-Riddle Aeronautical University and Florida Institute of Technology have signed an agreement to work as a team on aerospace research and technology projects. The three are forming an institute to work with NASA, Space Florida and commercial aerospace companies, as well as other universities and partners.

Tags: Around Florida

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