Retiring Boomers, increasing wages create budget challenges for legislators
Senators on the Appropriations Committee received a dose of demographic reality regarding Florida’s economy. Simply put, the population is getting older. And while people are earning more money through a combination of paychecks and senior entitlements, the state’s aging population creates a host of policy challenges that aren’t just future considerations, but near-term problems. [Source: Florida Politics]
Business Beat - Week of October 10th
Get top news-to-know with Florida Trend's headline-focused video newsbrief, hosted by digital content specialist Aimée Alexander.
Why South Florida’s workforce is turning to online MBAs to stay competitive
As South Florida’s economy continues to diversify beyond tourism and real estate, professionals across Miami-Dade, Broward, and Palm Beach counties are seeking advanced credentials to stand out. The rise of online MBA programs offers the flexibility and specialized skill sets required to navigate today’s fast-changing business landscape. [Source: South Florida Reporter]
FloridaCommerce: Victims of 2023-24 storms can apply for long-term federal recovery funding
FloridaCommerce has launched a public awareness campaign urging Floridians who saw damage to their homes in storms in 2023 and 2024 to apply for a new relief program. The Rebuild Florida 2023 and 2024 Storms program is now available, allowing Florida homeowners to apply online. The program is aimed at residents who need to repair or reconstruct homes that were damaged by Hurricanes Debby, Helene, Idalia and Milton, along with tornadoes in North Florida during that two-year span. [Source: Florida Politics]
Florida hospitals forge partnerships to survive
Florida hospitals pump nearly $178 billion into the economy and employ more than 322,000 people. But those numbers mask an industry under enormous strain and at risk of being stretched too thin to adequately serve its people. It’s a formidable challenge in a state with the largest retiree population in the nation, and one that annually draws hundreds of thousands of new residents thanks to its year-round sunshine, enhanced lifestyles, business-friendly climate and lack of state income tax. [Source: South Florida Business Journal]
Business use of AI: Caution is critical
The embrace of generative artificial intelligence has grown significantly since ChatGPT’s public debut in 2022. It’s estimated that AI today has 350 million users, including 75% of businesses and 92% of Fortune 500 firms. Some expect it to top 950 million users globally by 2030. The reason is clear: AI can streamline processes, handle rote — and increasingly complex — tasks, and ease human workloads. However, the euphoria surrounding the business-enhancing possibilities must be accompanied by caution. [Sponsored report]
ALSO AROUND FLORIDA:
› ‘A new era.’ Miami-Dade to have the first electric rapid bus system in the U.S.
South Dade residents will have access to a new transportation connection from Florida City to Dadeland South: Metro Express, Miami-Dade’s first Bus Rapid Transit (BRT) system and the longest fully electric one in the United States. Miami-Dade County announced on Monday the launch of Metro Express, designed to transform the way thousands of residents in the area commute along the busy U.S. 1 corridor. The service will be offered beginning Oct. 27 by the Miami-Dade Department of Transportation and Public Works (DTPW).
› Lee County to purchase drones for public safety, first responders
Lee County commissioners approved the purchase of four autonomous drones, an effort to enhance public safety and provide support for responders. The Skydio X10 drones cost about $136,000, but Lee County is seeking a $100,000 reimbursement from the Florida Department of Law Enforcement for the purchase. The drones utilize thermal and zoom cameras for tasks such as assessing disaster damage and post-hurricane search and rescue missions.
› Boynton annexation update: City pauses vote at county's urging
City officials postponed a vote on the proposed annexation of the Palmyra community and Bamboo Lane a week after Palm Beach County officials urged them to "take it off the table" while the county considers a deal to purchase the city's water treatment plants. In exchange for buying treatment plants, the city would abandon its plans to annex communities west of Boynton Beach into its boundaries.
› Southwest Florida bank surpasses $500M in assets in five years
Orlando-based Cogent Bank has surpassed $500 million in assets in Southwest Florida, five years after entering the market. The bank’s branches, one each in Fort Myers and Naples, have contributed to more than 4,000 new accounts and facilitated over $300 million in loan closings, according to a statement.
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› Was Sarasota Bay illegally polluted? Group plans lawsuit against US Recycling
One of Sarasota’s largest environmental organizations is preparing to sue the embattled US Recycling facility in Central Cocoanut, located just north of downtown, for allegedly polluting Hog Creek and Sarasota Bay and violating the U.S. Clean Water Act. A fifteen-page letter written by Douglas J. Chermak, an attorney for Suncoast Waterkeeper, addressed “U.S. Recycling’s unlawful discharge of pollutants from the facility.”
› From crisis to career: Chamber charts path for Tallahassee to turn around jobs report
Two dozen program directors, business leaders and others gathered Tuesday to dive into what's working and still needed to build out Leon County's talent pipeline and declare victory over what Chamber of Commerce officials have called a years-long "jobs crisis." The “Tallahassee Data Hub Roundtable" event was part of a statewide tour discussions hosted by the Florida Chamber Foundation, which is hosting similar events in cities like Jacksonville, Orlando and Fort Myers for the rest of the year.
› Maitland Art Center breaks ground on $3 million expansion
As dignitaries and arts supporters celebrated the expansion of the Maitland Art Center on Thursday morning, Danielle Thomas was reminded of the center’s original name. Founder Jules André Smith first dubbed the center “Espero,” a word that means “I hope” or “I wait” in Spanish. “That’s particularly meaningful today,” said Thomas, executive director of the Art & History Museums of Maitland, which runs the center. “We have been hoping and waiting for this moment for a long time.”
› New 1,500-home community planned in Northeast Florida. Where will it be?
The PARC Group, the developer behind Nocatee and eTown, has announced its latest project. EverRange will be a 1,000-acre master-planned community set to welcome its first homeowners in 2026. Located off Philips Highway and between Nocatee and eTown, EverRange will feature about 1,500 homes in its initial phase, with half the land preserved for green spaces, trails and native Florida landscaping.