Florida restaurants are shutting down amid a ‘tough summer’ of rising costs, weak tourism
Florida restaurants are struggling under several conditions — not least of which is the sharp decline in foreign visitors to the United States. The causes of this decline include global financial insecurity, a deteriorating perception of the US, and concerns over the safety of international travelers due to immigration raids and other security issues. The biggest drop has come from Canada, a critical source of revenue for many Florida businesses. More from Yahoo Finance and Moneywise.
Florida non-tribal casino revenue grows 8% year-over-year in July
Of Florida’s eight non-tribal casinos, combined net slot revenue hit $58.3 million last month, rising from the previous year’s $54 million, an 8% increase year-over-year. The figures, published by the Florida Gaming Control Commission, show that Magic City Casino yielded the highest revenue of the eight casinos, reporting slot revenue of $12.3 million. This figure was up from $9.6 million reported in July 2024, a 28% increase. [Source: CDC Gaming]
Why are tropics so quiet? What Florida residents should know about hurricane outlook
The peak of the season falls on Sept. 10, with the busiest period falling between mid-August and mid-October. So why are the tropics quiet right now, and when can we expect to see the next tropical storm or hurricane? Although conditions can change rapidly, as of Aug. 27, the National Hurricane Center said no tropical development was expected over the next seven days. Atmospheric conditions conducive to tropical development are forecast to return by the end of the first week of September. [Source: Fort Myers News Press]
Private insurers poised to absorb thousands of Citizens policies after hurricane season
Florida regulators have approved proposals by private insurers to take potentially tens of thousands of additional policies from the state’s Citizens Property Insurance Corp. late this year, as Citizens is expected to shrink after the thick of hurricane season. Insurance Commissioner Michael Yaworsky last week signed orders that would allow five private insurers to assume up to 87,925 policies from Citizens in November and December. That came after the state last month approved proposals by nine companies to assume up to 428,947 policies in October, November and December. [Source: News Service of Florida]
‘Florida’s Treasure Hunt,’ Are you one of the millions who could have unclaimed money?
The state says one in five residents has unclaimed property, and that number continues to grow. Each year, banks, insurance companies, and utility providers try to return funds to customers. But when they can’t track someone down, the money doesn’t disappear; it goes to the Florida Department of Financial Services. From there, it lands in the hands of the Division of Unclaimed Property. [Source: My Suncoast]
ALSO AROUND FLORIDA:
› Three hurricanes battered Florida’s Big Bend. Recovery is still far from over
The tale of hurricane recovery differs greatly between Florida’s urban and rural areas. In Pinellas County, which faced record storm surge and damage from the same storms last year as Taylor County, property tax collections totaled $2.4 billion during the last fiscal year. Meanwhile, in 2024, Taylor County generated about $31 million in property taxes. Tourism dollars in Pinellas show a quick rebound.
› Fort Lauderdale to fight state order to remove rainbow street art
Fort Lauderdale will not bow down to the state’s demand that it remove four street art designs — including a rainbow-colored pride flag painted on a street near the beach. Before a packed house, commissioners voted unanimously Wednesday night to appeal the state’s order to remove the pavement art by Sept. 4 or risk the state removing it. Mayor Dean Trantalis warned of what might happen if the city were to back down to the state on what he called a draconian order. “You have to ask, where does it end?” he said. “Tonight we must stand our ground. We cannot be bullied into submission and to allow others to dictate what happens in our community.”
› Brevard County uses opioid settlement money to fund addiction programs
Brevard County, Florida, has received over $16 million from opioid lawsuit settlements and is seeking ways to use the funds to combat addiction. The county has already allocated funds towards marketing, education, and a mobile outreach program providing medication-assisted treatment. Overdose calls, including opioid-related incidents, remain a significant issue in the county.
› Condos struggle in Miami, but luxury homes are in the money
Big bucks for fancy homes drove South Florida home sales in July, according to the Miami Association of Realtors. So far this year, there have been 262 home sales of $10 million and over in Miami-Dade, Broward and Palm Beach counties. If that pace continues, real estate analysts say, South Florida is projected to have 426 ultra-luxury sales by the end of the year. That’s just shy of a record 444 set in 2022.
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› Flavor South Florida returns with record 104 restaurant participants
Flavor South Florida, formerly known as Flavor Palm Beach, will return for its 18th year with a record 104 participating restaurants, organizers announced Aug. 25. The monthlong dining program will run from Sept. 1 through Sept. 30 across South Florida and the Treasure Coast. Originally launched in 2007 by Kerri Paizzi as Flavor Palm Beach, the event was rebranded last year to reflect its expansion beyond the county.
› Jacksonville City Council approves $800,000 in incentives for Project Pan to establish meat processing operation
Jacksonville City Council voted 16-1 on Aug. 26 to provide up to $800,000 in city incentives for a company code-named Project Pan to establish a meat processing operation in Northwest Jacksonville. Council member Rory Diamond voted against the legislation, and members Jimmy Peluso and Terrance Freeman were absent.
› Tampa Bay History Center selects new president and CEO
The Tampa Bay History Center named Audrey Chapuis as its next president and chief executive officer. The center’s board of trustees unanimously approved her appointment after a global search. Chapuis, who currently serves as executive director of the American Library in Paris, will officially begin later this year.
› Port Canaveral aims to address traffic, parking issues caused by increased cruise business
As Port Canaveral continues to break cruise passenger records, it is creating an issue that Canaveral Port Authority Chairman Wayne Justice says is "almost like the elephant in the room here that we kind of gloss over." "We've got to do a whole lot more about traffic flow," Justice told fellow commissioners and port staff, during the Canaveral Port Authority's most recent meeting.