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Wednesday's Daily Pulse
What you need to know about Florida today
Prominent economist says Florida looks mostly sunny
The United States may be entering an economic slowdown in the coming months, but Florida’s economy will be largely sheltered from this storm in 2024. After the 2008-09 and 2020 recessions hit Florida’s economy disproportionately hard, a slowing national economy won’t have the same devastating impact on the Sunshine State or in the Tampa Bay and Gulf Coast regions. More from the Business Observerand the Orlando Business Journal.
A Florida bill geared toward working teens is raising concerns
A bill filed in the Florida Legislature would expose teens to technical and skilled trade opportunities as an alternative to college and professional careers. The bill, however, could also expose them to more dangerous work conditions. Senate Bill 460 would allow teens ages 16 and 17 to work at heights over 6 feet if they earn a safety certificate and are supervised. It's designed to give them an alternative to college and professional career paths. [Source: WUSF]
Florida asks Supreme Court to ignore congressional redistricting challenge
The state has urged the Florida Supreme Court to decline to take up a challenge to the constitutionality of a congressional redistricting plan that Gov. Ron DeSantis pushed through the Legislature in 2022. Attorneys for Secretary of State Cord Byrd and the Legislature, in filings late Friday, said the Supreme Court should let stand a Dec. 1 ruling by the 1st District Court of Appeal that backed the plan. The filings also pointed to a time crunch as the legislative session starts next week and the 2024 elections near. [Source: News Service of Florida]
What’s new for Florida cruises in 2024
The world’s largest cruise ship headlines a big comeback year for major hardware arriving to Florida. Royal Caribbean’s Icon of the Seas will make a sizable splash when it arrives to Miami in January having taken over the title from what are now its little Oasis-class sisters. But what will now be the second-largest cruise ship, Utopia of the Seas, the last of six Oasis-class behemoths, is also Florida-bound, arriving to Port Canaveral in July for its debut. [Source: South Florida Sun-Sentinel]
Florida's commercial real estate sector's insurance woes continue in new year
Florida’s property insurance landscape for commercial real estate is experiencing one of the most difficult periods in its history. That’s according to Oscar Seikaly, CEO of NSI Insurance Group, who says there’s not enough capacity to absorb all of the business that needs to be insured. The outlook doesn’t look much better for the next six months. [Source: Property Casualty 360]
ALSO AROUND FLORIDA:
› Big budget films are recreating Tampa Bay elsewhere. It might get worse.
Those who work in the industry expect productions will now shun the Sunshine State at a higher rate. That’s because, in July, the state dissolved its Office of Film and Entertainment, which brought productions here and then provided logistical support. With the Hollywood strikes over, the coming year will show whether the lack of state support further impacts the film industry here.
› Fares are back for Miami-Dade transit riders, plus free Uber rides on scrapped routes
The free rides have ended for most on Miami-Dade County’s buses and trains, leaving the transit system to see how many new passengers will stick around when required to pay the full $2.25 fare. Miami-Dade launched a seven-week fare holiday in mid-November to promote a new route map and schedule for its bus system, a redesign that launched the same day as the “Better Bus Network.” The fare waiver ended on Jan. 1, but ridership tallies for November and December aren’t yet available.
› As winter cold sets in, what does it mean for river life in Northeast Florida?
This has been a fairly mild winter thus far. But you never know what January and February will bring. The St Johns River reflects the seasonal temperature fluctuations that we see in the air, but the change is more gradual. Water temperatures are extremely important to most river life. Most animals are what is termed poikilotherms, which comes from the Greek, with poikilos meaning changeable or various, and therme meaning heat or temperature.
› Central Florida Expressway Authority work plan expected to create jobs, more
The University of South Florida’s Center for Urban Transportation Research found Central Florida Expressway Authority's latest work plan will have a positive impact for businesses. USF's study found that the $4.04 billion Five-Year Work Plan between 2024-2028 will help support 7,157 average annual jobs and generate $3.8 billion in local and state gross domestic product. The plan also will generate $1.4 billion in travel-time savings and average savings of 69 travel hours a year per household.
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