Is your insurance company being monitored for financial soundness? Why you can't find out
With an increasing number of the property insurers flagged for insufficient funds after the state’s fiscal fitness test, the call has gone out for the state to reveal more about those insurers marked for monitoring — starting with their names. The state's open records law says that a list of insurers under state observation for financial soundness or solvency is not available to the public and exempt from disclosure to anyone who wants to see it. More from the Palm Beach Post.
Florida drivers hit with gas price surge, warned of even higher prices
Florida saw an increase in gas prices last week, with a jump of 16 cents per gallon. Experts say it is caused by events in the Middle East. According to the American Automobile Association (AAA), recent U.S. airstrikes on Iranian nuclear facilities and Iran's reactions have caused some fluctuation in oil prices. “Drivers in the U.S. could see higher prices at the pump if tensions persist or if oil flows are disrupted,” said Mark Jenkins, spokesman for AAA. More from WPEC and the Miami Herald.
Is Tampa Bay in play for Jabil's $500M manufacturing plant?
St. Petersburg is Jabil Inc.’s hometown, but it’s unlikely that the Sunshine City or elsewhere in the Tampa Bay region will be home to the $500 million manufacturing facility the company plans to build. Jabil said last week that it was in the final stages of scouting a site location in the Southeastern U.S. and expects the facility to be operational by mid-2026. More from the Tampa Bay Business Journal.
Turkey or gem? Lawmakers approve $19.7 million for Intracoastal land
Lawmakers appropriated more money in the state budget, $19.7 million, to purchase a 114-acre, partially submerged parcel on the Intercoastal Waterway in New Smyrna Beach than they did for the entire Florida Forever conservation program. The land located just southwest of the Ponce de Leon Inlet is a "curious" appropriation, environmentalists say. And the cost tops the $18 million the state Senate and House assigned to Florida Forever. It is also considerably more than the Volusia County Property Appraiser lists the land's 2025 market value, $174,750. More from the Florida Times-Union.
Seminole looks to raise taxes for first time in nearly two decades
Seminole County commissioners may raise property taxes for the first time in 16 years as the county grapples with a budget shortfall, rising costs and a need to boost sheriff’s deputies salaries. County leaders also are looking at hiking taxes at the gas pumps and on utility bills — including water and electricity — to raise revenue. The proposed tax hikes come even though Seminole expects a 6.75% increase in property values this year, bringing in an additional $16.6 million in taxes. More from the Orlando Sentinel.
Out of the Box
Why are a dozen South Florida cities turning 100 at nearly the same time?
According to historians, there’s something remarkable going on in South Florida — a dozen cities will celebrate their 100-year birthdays in 2025 and 2026. This curious phenomenon has its roots in the land boom of the roaring ’20s, when large groups of people flocked to South Florida to purchase land and immerse themselves in what was sold to them as a “tropical paradise.” That supposed paradise wasn’t all dreamy. Tracts of wetlands in the Everglades were drained and primed as new land that would later be developed and used for fraudulent deals. But some towns survived the turmoil.
» More from the South Florida Sun-Sentinel.
Florida Trend Exclusive
Worth it
Orlando-based startup Worth AI has secured a $25-million investment to expand its AI-powered fintech platform. The company says it has signed more than a dozen new financial and banking clients this year. Worth was co-founded by brother-and-sister CEOs Sal Rehmetullah and Suneera Madhani, who are known for previously founding the successful startup Stax Payments.
» Read more from Florida Trend.