Household income remains stagnant in Florida almost five years from the depth of the recession as the state's largest cities rank at the bottom in income levels for the nation's most populous metro areas, according to U.S. Census figures released Thursday. Florida's median household income in 2012 of over $45,000 decreased slightly from the previous year, but the change was statistically insignificant. More from the AP and the Sarasota Herald-Tribune.
The University of Florida helped create 15 startups last year, ranking fourth nationally just behind leading institutions such as the Massachusetts Institute of Technology, according to a new report. In fact, MIT, with 16 startups, and UF were bested only by the entire University of California and University of Texas systems. [Source: UF News]
In a market where double-digit price gains have become the norm, some home buyers are learning to settle for less. Median home prices in Southwest Florida are near five-year highs, and as a result, that midpoint on the price scale isn't buying what it used to. [Source: Sarasota Herald-Tribune]
Perry Martino [Photo: Bill Wisser]
When retailer Pink Palm began talks with its landlord about renewing its lease at South Beach’s Lincoln Road Mall, owners Perry Martino and Russ Root were told to expect a 300% rent increase. Small local stores are facing huge rent increases because international chains are willing to pay higher rates for a spot. Full story...
Despite recent outflows of capital from emerging markets, private equity and venture capital in Latin America expanded by all measures in the first half of 2013, with an increase in fundraising, investments and exits as compared to the same period in 2012, according to data released this month by the Latin American Private Equity and Venture Capital Association ( LAVCA). [Source: Miami Herald]
ALSO AROUND FLORIDA:
› New York investor pursuing purchase of Panthers [South Florida Sun-Sentinel]
An out-of-town investor may be just what the Florida Panthers need to solidify their future in South Florida. Vincent Viola, a Wall Street power broker and former minority owner of the New Jersey Nets before the NBA franchise moved to Brooklyn, is in negotiations to purchase the team.
› Santa Fe College taking the '$10,000 degree' seriously [Gainesville Sun]
Florida students applying to state colleges can look forward to obtaining bachelor's degrees for about 71 percent of previous costs. Santa Fe College, one of more than 20 colleges in the state to accept Gov. Rick Scott's $10,000 degree challenge, plans to kick off the program for freshmen beginning fall 2014.
› HealthPlan Services says it will add 1,000 jobs in Tampa over five years [Tampa Bay Times]
Gov. Rick Scott on Wednesday hailed a health care firm's plan to hire more than 1,000 people over the next five years in Tampa, one of the state's hottest new job markets.
› Lido Beach's first, and last, motel [Sarasota Herald-Tribune]
The Gulf Beach Resort — the first and last “motel” on Lido Beach — provides a visual reminder of times past and the way vacation lodging once existed. Over the last three decades, all but two of the original dozen or so “motels” from the 1950s and '60s on Lido Beach have been demolished and their sites redeveloped with more modern resort facilities.
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› Developers, government see major changes for Sarasota [Sarasota Herald-Tribune]
A rebounding economy has developers rolling out new projects and city officials touting infrastructure improvements at a greater pace than any time since the market's crash six years ago.
› Florida agency to allow principal reduction [Orlando Sentinel]
The state agency overseeing Florida's $1 billion share of federal foreclosure prevention funds announced it will expand the use of those funds so that underwater homeowners can use it for principal reduction.
› Brewery plans to open in Ozona on Pinellas Trail [Tampa Bay Times]
Unlike the classic board game, this Candy Lane has no gumdrop mountains, lollipop woods or peanut brittle houses. But if the owners of Tampa Bay Brewing Company have their way, the short street in Ozona will soon be identified with another type of treat: craft beer.
› New growth environments spur entrepreneurs [Miami Today]
Just as startup companies find many factors that can aid them to grow and flourish, so too entrepreneurship itself has many resources as it grows in Miami, but also forces that hinder it.