Statewide Business Briefs - Aug. 2007
CUBAN BOOST —
Prior to 1959, the U.S. was Cuba’s main trading partner and Florida was Cuba’s largest state trading partner. Today, only a trickle of products — most of them agricultural — makes it from the U.S. to the island nation. Tim Lynch, director emeritus of the Center for Economic Forecasting and Analysis at Florida State University, predicts that a normalization of trade between Cuba and the U.S. would result in a $1.3 billion to $2.5 billion growth in the Florida GDP over the next 30 years and between 14,000 and 27,500 jobs.
IMMIGRANT PURSUITS —
Recent immigrants residing in Florida are more likely to be entrepreneurs, with an equal likelihood of earning an advanced degree and contributing to the local economy based on taxes paid, relative to existing citizens, according a new study released by the FIU Research Institute on Social and Economic Policy.
SUPPLY LINES —
Ethanol is making its way across the state. First sold in north Florida, ethanol supplies are now available in Tampa at the Kinder Morgan terminal and in the Orlando area. Prices have come down as well — with a gallon now selling for about the price of gas at the pump.
UF RANKING —
The University of Florida comes in at No. 5 in a Milken Institute ranking of universities’ ability to turn world-class biotech research into licensing income and business startups. “Mind to Market: A Global Analysis of University Biotechnology Transfer and Commercialization” found that for every $1 invested in office of technology transfer staff, universities receive more than $6 in licensing income.
Links: Go to the Links page to get the complete Milken study on technology transfer and for more information on immigration trends in Florida.