The decision to not expand Medicaid as part of the ACA saw Florida pass up more than $50 billion in additional funding to help defray the costs of the expansion. But businesses may also lose out on up to $253 million a year in tax penalties due to that decision. More at the AP and CBS Miami.
High tides have been getting higher and low tides lower at cities around the Gulf of Mexico, according to a new study produced in part by scientists at the University of South Florida. The trend for sea level rise spells very bad news for anyone living along the coast if a hurricane hits during one of those higher high tides. [Source: Tampa Bay Times]
The Florida Chamber Foundation recently released an update to its 2010 Florida Trade and Logistics Study. The report examines whether Florida has made progress in its trade and logistics infrastructure and in preparing to take advantage of opportunities presented by the expansion of the Panama Canal. Read the full story here.
Florida Chamber Foundation Executive Vice President Tony Carvajal says the foundation's report calls for more manufacturing in Florida. [Photo: Mark Wemple] Story here.
The number of closed sales and the number of cash sales in Miami’s residential real estate market in November declined marginally year-over-year, according to experts. As a percentage of all closed sales in Miami-Dade County, cash sales dropped from 75.3% in November 2012 to 73.2% in November 2013. [Source: Miami Today]
Bankruptcy filings in South Florida have dropped more than a third since they peaked in 2010, according to new data from U.S. Bankruptcy Court Southern District of Florida. New cases in Palm Beach County dropped 16 percent from a year ago and 34 percent from December 2010's high of 470. Last month, 312 cases were filed. [Source: South Florida Sun-Sentinel]
ALSO AROUND FLORIDA:
› Tampa City Council to consider up to $100,800 in incentives for IT corporate expansion [Tampa Bay Times]
The company's name is a secret under a business recruitment exemption to Florida's Public Records Law, but it is based here and recently acquired some other companies outside of Florida. It is looking to hire 112 new employees who would work for the parent company but perform tasks for the subsidiaries.
› Scott pledges $130M to Everglades restoration [AP]
Gov. Rick Scott on Wednesday pledged $130 million to Everglades restoration in the upcoming budget. Scott said during a meeting of the Florida Cabinet that the 2014 budget request would be used to help restore the Kissimmee River north of the Everglades.
› Jackson hospital reaches deal with unions to restore workers’ pay [Miami Herald]
The Jackson Health System has reached a tentative deal with the public hospital network’s labor unions to phase out an unpopular pay concession and award employees one-time bonuses.
› How should Venice market itself? [Sarasota Herald-Tribune]
Although long considered a tourist destination, the city of Venice lacks its own distinctive strategy for reeling in visitors. It needs a "brand," some business leaders say.
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› Titusville lands new business at airport [Florida Today]
Local and state officials announced Wednesday that North American Surveillance Systems Inc. has selected Space Coast Regional Airport to expand and consolidate its fixed and rotary-wing aircraft modification business.
› Florida's top regulator says auto insurance fix is lowering premiums [AP]
Insurance Commissioner Kevin McCarty said Wednesday that a preliminary analysis shows a 25 percent decrease in no-fault Personal Injury Protection rates since legislators changed the law in 2012. The analysis looked at the top 20 companies.
› Seminole homeowners become flood insurance pioneers [Tampa Bay Times]
When they took pen in hand, three TV cameras began rolling to capture the moment, jockeying for space with a couple flash photographers and a half-dozen smartphone users snapping pictures and video.
› Panama Canal rift could be coming to an end [AP]
The head of the Panama Canal said Tuesday that there may be a solution in sight to the $1.6 billion dispute that has threatened to halt work on the canal’s expansion.