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Friday's Daily Pulse
What you need to know about Florida today
Florida has blue collar jobs, but people aren't scrambling to apply
Florida's latest jobs report shows that the unemployment rate is decreasing and ranks below the national average. While the state's biggest industry — tourism — is still hurting, Florida's economy has gained in one sector: blue-collar jobs like warehousing, delivery services, and home construction. Wall Street Journal reporter Sarah Chaney Cambon recently reported on a nationwide boom in blue collar jobs. She said in Florida and other tourism-centric states, employers are having a hard time filling jobs. More from WJCT and the Wall Street Journal.
Business Beat - Week of March 19
Get the top news-to-know with Florida Trend's headline-focused video newsbrief, hosted by digital content specialist Aimée Alexander.
Biden to tap former Senator Bill Nelson as NASA chief
Bill Nelson has been tapped by President Biden to serve as NASA administrator, according to a report by the technology news website The Verge. If confirmed by the Senate, the 78-year-old former U.S. senator and space shuttle astronaut would be in charge of the agency as it prepares to return to the moon. But the prospect of his selection has been met with criticism from advocates of the agency’s partnerships with private companies such as SpaceX, Blue Origin and Boeing, all of which have major operations on Florida’s Space Coast. More from the Orlando Sentinel and The Verge.
Florida close to shielding businesses from COVID-19 lawsuits
Florida businesses and healthcare providers would be protected from coronavirus lawsuits if they made a good effort to follow guidelines to prevent the spread of COVID-19 under a bill passed by the Senate on Thursday. Last week, the House passed a similar bill, but the measure won’t go to Republican Gov. Ron DeSantis until differences are worked out. But the issue is a priority for DeSantis and the Republican legislative leaders and could see final passage as soon as next week. [Source: AP]
Florida supply of Johnson & Johnson vaccine is limited to what’s on hand. More expected in April
If you get a Johnson & Johnson vaccine in the next few weeks, consider yourself fortunate. The federal government has distributed all of the inventory the manufacturer supplied on March 1 — 3.9 million doses. Florida received 175,100 of them. Johnson & Johnson says supply will be limited for the next couple of weeks and then it expects to deliver approximately 16 million additional doses by the end of March, according to Jeff Zients the coordinator of the president’s COVID-19 task force. [Source: South Florida Sun-Sentinel]
Insurance ratings agency says 9 Florida insurers must improve performance
For the second year in a row, ratings agency Demotech Inc. said several Florida insurers would need to improve their finances to maintain stability going forward. Demotech is a private company that grades most Florida insurers on their financial health. It finished its most recent ratings period this month, affirming all but one “A” grade, which is considered “exceptional.” The company it did not reaffirm is a commercial insurer that asked for its rating to be withdrawn earlier this year. [Source: Tampa Bay Times]
ALSO AROUND FLORIDA:
› Space Florida attempts to lure mystery firm to Brevard County, create thousands of jobs
Space Florida’s plans to bring a spacecraft manufacturing facility and thousands of high-wage jobs to Brevard County are a go for launch. The board of directors at the state’s aerospace economic development arm on March 17 gave Space Florida management approval to negotiate with the unnamed company. The firm, dubbed “Project Kraken” by Space Florida, would invest up to $300 million and create 2,100 jobs at Space Florida’s Launch and Landing Facility near Kennedy Space Center.
› Orlando Crowne Plaza hotel sells at auction for $35.7 million, beating estimates
The Crowne Plaza Orlando sold at auction for $35.7 million on Tuesday, $7 million more than what had been set as the minimum bid. Built in 2002, the Crowne Plaza went into bankruptcy last year. The 14-story hotel, located at 7800 Universal Blvd. in Orlando, features 400 rooms and proximity to the tourist hub of International Drive. The auction included seven bidders and 56 rounds of bidding, with the winning bid going to investment firm Monarch Alternative Capital.
› Florida’s most active VC firm is landing in Miami — and it’s adding a familiar tech name
The most active venture capital firm in Florida is finally landing in Miami — and adding a familiar tech community member’s name to its ranks. Florida Funders, the Tampa-based hybrid venture capital fund-angel investor network, will soon open a Magic City office after years of circling South Florida.
› Jacksonville's year-over-year job loss is among the lowest in the US, report shows
The Jacksonville area had one of the smallest year-over-year employment declines in the U.S., tying with Austin, Texas, for the second-strongest job market. A recent report from the Austin Chamber of Commerce in Texas shows the U.S. metros with the smallest year-over-year job loss comparing January 2020 to January 2021.
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