Tuesday's Daily Pulse
The falling rate of new business formation
Historically in the U.S., about one new business has been formed every minute, while another shutters its doors every 80 seconds. This life cycle of birth and death – referred to as business dynamism – is a key driver of innovation and to overall economic growth. A growing chorus of economists suggests that this process of dynamism and innovation has slowed. Read more from The Atlantic and see the full report: Declining Business Dynamism in the United States: A Look at States and Metros.
Business lending picks up in first quarter
Banks made it easier for businesses to get loans in the first quarter, fueling increased purchases of products and equipment as well as more merger activity, the Federal Reserve said Monday. The picture for consumers was fuzzier, according to the Fed's quarterly survey of bank lending. More from USA Today and Business Insider.
Buying can beat renting in less than a year
As rental rates and home values escalate, buying is becoming a better option sooner for many South Floridians, according to a first-quarter report from Zillow.com. In Palm Beach County, buying a home is cheaper than renting it after an average of 1.3 years, the website said. In Broward County, it’s 1.1 years. [Source: South Florida Sun-Sentinel]
Climate assessment puts South Florida at high risk
South Florida is getting hotter, stormier and saltier under a new assessment of climate change being released Tuesday by the White House. The National Climate Assessment, which was overseen by a committee of 60 scientists, carves the nation into 11 regions, with the Southeast, as well as the Caribbean, sitting squarely in the crosshairs of climate change. More from the Miami Herald and the AP.
Poll: 88% support medical marijuana in Florida
Nearly 9 out of 10 Floridians support the medical use of marijuana according to a new poll. The poll released Monday by Quinnipiac University found 88 percent of Florida voters support allowing adults to use marijuana for medical purposes if a doctor prescribes it. [Source: AP]
See also:
» Cannabusiness: Jacksonville gets 411 on pot industry
ALSO AROUND FLORIDA:
› Researchers investigate if diabetes drug can prevent Alzheimer's [South Florida Sun-Sentinel]
South Florida researchers have joined a worldwide clinical trial investigating whether a well-known medication for Type 2 diabetes could delay or prevent Alzheimer's disease, an incurable neurological condition affecting almost a half-million Floridians.
› Gas prices see slight drop thanks to increased supply [DNJ]
This is the second straight week of declines for gasoline in Florida, and now prices in Georgia and Tennessee are following suit. “This is encouraging news for motorists who have seen prices steadily rise since February,” said Mark Jenkins, spokesman AAA: The Auto Club Group.
› Florida AG finds way to pay for prescription database [AP]
Florida Attorney General Pam Bondi is keeping the state's prescription drug database up and running after state legislators decided against funding it. The Florida Legislature did not set aside any money for the nearly three year old program during the annual session that ended Friday.
› Miami looks beyond beaches, bikinis to tech [AP]
Famed for its beaches, cruises and cafecitos, South Florida is now angling to become one of the nation's next tech hot spots by leveraging its role as the gateway to Latin America and luring northern entrepreneurs with cheap living costs and lots of sun.
Go to page 2 for more stories ...
› Column: Export-Import Bank means jobs, success for Florida businesses [Orlando Sentinel]
If Congress is serious about creating jobs, it should do everything it can to help small businesses, which create roughly two-thirds of all new jobs. This is particularly true for Florida, which is a small-business state.
› Southwest Florida's sales outpace state's, point to brighter economy [Sarasota Herald-Tribune]
The business outlook continues to brighten for merchants in Southwest Florida. Shoppers spent more in February on everything from clothes to electronics and new cars -- accelerating the region's ongoing economic recovery, according to newly released data.
› Treasure Hunters' Undersea Gold Rush Is Threatened by U.S. Navy [Businessweek]
In just one dive on a 19th-century shipwreck, Odyssey Marine Exploration managed to recover gold ingots and coins worth more than $1 million from the bottom of the Atlantic. The truth is, such golden opportunities may be about to dry up.
› T. Rowe Price scraps plan to bring 1,600 jobs to Pasco County [Tampa Bay Times]
Financial giant T. Rowe Price, which cut a historic deal with county officials in 2009 to bring 1,600 jobs to Pasco County, is scrapping plans to build a campus there.