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Wednesday's Afternoon Update
What you need to know about Florida today
Despite $5.4B in forecast revenue declines through 2021, Florida could dodge budget upheaval
Florida’s general revenues could fall $3.4 billion short of projections this fiscal year and $2 billion shy of estimates next year, state economists said. The state, however, has $4 billion in reserves, is sitting on $5.8 billion in federal Coronavirus Aid, Relief and Economic Security (CARES) Act funds and could avoid dramatic budget upheavals if the U.S. Department of Treasury allows states to use COVID-19 assistance for expenses other than those directly pandemic-related. More from the Center Square.
Florida Trend Exclusive
Bright times: OUC edges closer to producing zero carbon
The Orlando Utilities Commission, the municipal utility that provides water and electric service to residents of Orlando, is making headway in its push to achieve net-zero carbon emissions by 2050. Over the summer, the utility began drawing 108.5 megawatts of electricity from two new solar facilities: Taylor Creek Solar Energy Center in east Orange County and Harmony Solar Energy Center in St. Cloud. More from Florida Trend.
Potential tropical depression could have Florida in its path, hurricane center says
The National Hurricane Center is monitoring two systems in the tropics, one with a high chance of becoming the next tropical depression or tropical storm, with a projected path straight up Florida. It’s on track to pass through environmentally favorable conditions boosting its odds of developing into a tropical depression or tropical storm to 90% in the next two days. Several storm model projections show the system heading toward and past Florida’s direction; one projection has the storm making landfall in South Florida. More from the Orlando Sentinel.
Four international airlines return to Miami International Airport
Miami International Airport (MIA) welcomed back four airlines serving international routes this month. More will come as international travel restrictions ease, spokesman Greg Chin said. Mexican carrier Volaris on Aug. 2 started two weekly flights from Guadalajara. The next day, Air Europa resumed weekly service from Madrid. On Aug. 4, Swiss Air Lines began two weekly flights from Zurich. And on Tuesday, Virgin Atlantic began flying thrice weekly to London. More from Miami Today.
Shad Khan's Shipyards development in limbo as city reveals it's seeking new bids
Jaguars owner Shad Khan has lost the inside track to develop downtown's long-vacant Shipyards property and could submit a new proposal that is significantly scaled back from the $500 million plan city leaders said would forever change the city, said the leader of Jacksonville's downtown development authority on Tuesday. More from the Florida Times-Union.
Nonprofit Trends
Beer Kulture, a St. Petersburg-based nonprofit, is looking to make the world of craft beer more inclusive
When Latiesha Cook and her husband Dom first started visiting Florida craft breweries several years ago, one thing stood out. “We were literally the only people of color in the room,” she recalls. In 2017, frustrated at craft beer’s limited reach despite the industry’s nationwide boom, the couple formed Beer Kulture, a marketing agency and lifestyle brand that worked to raise awareness of craft beer in communities of color. The aim was to bring those communities into craft beer spaces, both as customers and behind the bar.
» More from the Tampa Bay Times.
Business Profile
Coflyt
Eric Hill created the software for Coflyt while a student at Mississippi State University. He and Tal Clark founded the company and moved it to Pensacola after Clark provided seed funding in 2019. Most recently, the company received $500,000 from angel investors.
» Read more from Florida Trend.
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