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Monday's Afternoon Update
What you need to know about Florida today
Florida's small business survival record is spotty
Florida's record on the survival of small businesses after three years is the fourth worst in the nation, according to Capital on Tap, an Atlanta-based small-business credit card and spending management platform. Its study analyzed data from the U.S. Bureau of Labor Statistics to reveal the percentage of startups that are still active after three years. The survival rate of private sector establishments by opening year was pulled from BLS for each U.S. state between 1994 and 2022. More from the Business Observer.
Tropics Watch: Here’s why hurricane season will stay active in November. Any threat to Florida?
We are in the final stretch of the 2023 hurricane season, but there are indications the season won’t end quietly. The window for development with the disturbance near Florida and the Bahamas is quickly closing. Regardless, this system will be pushed away from the U.S. and back toward the Central Atlantic. The second area, over the Caribbean, bears watching. More from Click Orlando.
How Cape Canaveral contractor taps into $1 billion pool for disaster response
A Central Florida company will see a major influx in revenue again after the Department of Defense added more money to a nearly billion-dollar contract the business already won in 2016. Government contractor IAP-ECC LLC based in Cape Canaveral is one of five companies to benefit from a substantial Department of Defense contract extension with a fresh infusion on Oct. 11 of $98 million that ups the total of a previously awarded U.S. Navy contract to $1.097 billion. More from the Orlando Business Journal.
Spirit reels from steep losses, soft demand and groundings as trial looms to determine fate of JetBlue deal
Spirit Airlines, the South Florida based discount carrier, is wrestling with a series of troubles that include steep financial losses, a need to ground planes for inspections, and a resulting suspension of training for new pilots and flight attendants. The events come as the Miramar-based airline girds for a U.S. Justice Department-driven antitrust trial scheduled to start Tuesday that is likely to determine the fate of its proposed $3.8 billion takeover by JetBlue Airways of New York. More from the Orlando Sentinel.
Pasco seniors could get break on next year’s tax bill
During the marathon Pasco County Commission final budget hearing last month, elected officials were bombarded with one tale after another of how rising costs are evaporating the financial security of local residents, especially those on a fixed income. After hours of stalemate over how to cut the budget to offer some relief, commissioners reached a slightly reduced final tax rate. But they also agreed that it was time to revisit a previous idea to increase the homestead exemption for senior citizens, a tax relief measure many of the surrounding counties have already approved. More from the Tampa Bay Times.
Wolf Branch Innovation District
The Wolf Branch Innovation District is a planned 850-acre mixed-use employment center located in Lake County, Florida on State Road 46 near the Wekiva Parkway. The vision for this corridor is to create job and educational facilities within the community, making Lake County and the City of Mount Dora an even better place to live, work, play and do business. [Sponsored report]
Profile
‘Queen of the Miami River’ moves to Coconut Grove to build next stage of real estate career
One of Miami’s few female real estate developers charts new territory, by making a recent move that brings her full circle in her career and sets her up, she thinks, to build a new Miami. Neology Life Development Group CEO Lissette Calderon, 49, relocated her company to Coconut Grove. She found a Bayshore Drive office for her team of 20 employees that’s three times the size of her company’s former home on the Miami River.
» More from the Miami Herald.
Insurance Trends
What to know before canceling property insurance coverage to save money
With the price of premiums doubling the past few years, some Florida homeowners are choosing to go without property insurance, figuring that the savings are worth the risk of going bare in a hurricane-prone state. “We are seeing many people doing this,” said Sunem Hernandez, of Hernandez Insurance, an independent insurance agent in Miami Lakes. “I have five clients that have already done it.” Florida leads the rest of the nation homeowners shedding coverage.
» Read more from the Orlando Sentinel.
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