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Wednesday's Daily Pulse
What you need to know about Florida today
Revenue projections get bump ahead of new state budget
State economists on Tuesday increased general-revenue projections by about $2.18 billion for the current fiscal year and next year, giving a boost to lawmakers as they put together a new budget. But more than $700 million of that increased revenue has already been allocated for things such as hurricane assistance and home-hardening programs. Also, a long-range forecast projects mostly moderate annual revenue growth --- 1.6 percent to 2.9 percent --- after the current fiscal year ends June 30. That could mean hard decisions as lawmakers push priorities with big price tags. [Source: News Service of Florida]
Taxpayers pay 'over and over' to rebuild risky, flood-prone homes in Florida
A new analysis and visualization tool published by the National Resource Defense Council (NRDC) found that thousands of Florida properties insured by the federal government have repeatedly flooded and been rebuilt – to the point that they’ve cost the nation hundreds of millions of dollars. Some of the properties, which run the gamut from single family homes to businesses, have been rebuilt more than a dozen times, FEMA data provided by the NRDC shows. [Source: Sarasota Herald-Tribune]
Florida considers disclaimers for AI-generated political ads
With the bill’s sponsor saying that rapidly expanding access to generative artificial intelligence “threatens the integrity of elections,” a bill that would require disclaimers on political ads created by using the technology began advancing Tuesday in the Florida Senate. “This is something that is very new. This is something that we’ve seen more and more frequently, I think, as the political campaign season has been accelerating here recently,” bill sponsor Nick DiCeglie, R-Indian Rocks Beach, said of the use of artificial intelligence in political ads. [Source: News Service of Florida]
Cost of living in 10 of Florida's major cities, ranked cheapest to most expensive
Florida is the fastest-growing state in the U.S. and popular with retirees — it can also be quite expensive. To find out how some of the biggest cities in the popular Sunshine State stack up, Business Insider looked at The Council for Community and Economic Research's Cost of Living Index for different urban areas in the US. [Source: Business Observer]
New state data reveals slight dip in Florida teachers leaving, but reasons why vary
New data released by Florida’s Department of Education shows last year, the number of teachers who left the classroom was slightly down from record high resignations the year prior. While that is some good news, Florida investigative reporter Katie LaGrone found there are still serious concerns about what's really driving teachers out. [Source: WFTS]
ALSO AROUND FLORIDA:
› Clearwater increases pay to recruit and keep city employees
City employees will get a long-awaited raise this month, a move officials hope will help attract workers to fill persistent vacancies and keep them from leaving for better paying local governments. The boost hits paychecks beginning Friday after the city created pay ranges for each job that are more in keeping with the market. It’s also the result of a new salary formula that accounts not only for how long employees have been in their current jobs but also their total time working for the city.
› JetBlue’s $3.8 billion buyout of Spirit Airlines blocked by judge citing competition threat
A federal judge is siding with the Biden administration and blocking JetBlue Airways from buying South Florida-based Spirit Airlines, saying the $3.8 billion deal would reduce competition. The Justice Department sued to block the merger, saying it would drive up fares by eliminating Spirit, the nation’s biggest low-cost airline.
› Orlando planning board moves forward with proposed downtown sports and entertainment district
Members of Orlando’s Municipal Planning Board unanimously signed off on the long-awaited Orlando sports and entertainment district Tuesday. The project surrounding the Kia Center, formally known as the Amway Center, has been in the talks since 2011. “I’m excited about that, I think that’s cool,” Sedrick Bernard said. Bernard works in downtown Orlando and said he likes the idea of having more options near the arena.
› What's trending in Southwest Florida for 2024? What were 2023's biggest business, growth stories?
Fifteen months ago, Southwest Florida faced an uncertain future after the historic devastation of Hurricane Ian that the National Weather Service estimates left at least $112 billion in damage along its unexpected path. While many still face individual challenges in the storm's aftermath, the numerous engines that energize the region's economy continued on overdrive as we entered 2024.
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