Hope for legislative property insurance fix dimming as Legislature enters second half
Property insurance costs remain at the top of Sunshine State residents’ concerns, but that’s not moving legislation dealing with the industry along, even as potentially consequential revelations keep coming. The session started with a vow from the new Republican speaker of the House that insurance companies would not set the agenda. But no bills have made it to the floor of either chamber that would add insurer oversight or make it easier for policyholders to sue their insurer in a claims dispute. [Source: Palm Beach Post]
Business Beat - Week of April 11th
Get top news-to-know with Florida Trend's headline-focused video newsbrief, hosted by digital content specialist Aimée Alexander.
Citrus growers see slight improvement
Florida’s citrus industry saw a slight improvement as the U.S. Department of Agriculture on Thursday released an updated production forecast for the soon-to-be-completed growing season. The forecast kept estimates of oranges the same as in a March projection. Growers are expected to fill 11.6 million 90-pound boxes of oranges. But the forecast for grapefruit production increased from 1.2 million boxes in March to 1.3 million in Thursday’s numbers. [Source: News Serevice of Florida]
Florida cattle market strong despite inflation, loss of ranchland
The biggest threat facing Florida’s cattle producers isn’t currently the cattle market, but can instead be summed up in two categories: inflation and loss of ranchland. “Inflation on goods and services has led to skyrocketing overhead costs for local ranchers: fertilizer, hay, feed, supplements, medications, etc., have all tripled in price in the last two years,” says Dr. LuJean Waters, President of the Polk County Cattlemen’s Association. “Although we’re currently seeing cattle prices reaching a decade high, this is only parallel to the exponential increase in overhead cost for ranchers.” [Source: Central Florida Ag News]
Termites are hitching rides on boats and spreading their destruction across Florida
Private boats are fueling the spread of highly destructive invasive termites in Florida, according to a new study by the University of Florida. Three species of the wood-eating bugs can live within the structure of a boat for years, eating parts of it before they eventually emerge. When they do, the vessel can inadvertently spread the pests from marina to marina, up the coast, or even inland to areas where boat dealerships house vessels. [Source: South Florida Sun-Sentinel]
Proactive versus reactive: Protect your business from the unforeseen
When structuring partnership, shareholder and operating agreements, business owners try to address every reasonably conceivable situation. What often goes overlooked, however, are the effects on the business of divorce, dementia, or death — and the possible involvement of a surviving spouse, ex-spouse, or heirs. [Sponsored report]
ALSO AROUND FLORIDA:
› UNF scores $3 million from Jacksonville for esports arena
Jacksonville will chip in $3 million for an esports arena at the University of North Florida that school leaders say is a key part of their strategy to ramp up enrollment by thousands of students in the coming years. Despite initial skepticism from some City Council members, they voted 15-1 on Tuesday for the spending sought by Mayor Donna Deegan. UNF will set up a roomful of 42 interconnected gaming stations in the campus's student center where teams of players will compete in the fast-growing field of esports, short for electronic sports.
› Since opening in September, Great Wolf Lodge in Naples has seen 200,000 visitors
Since opening in September, the Great Wolf Lodge near Naples has seen a throng of visitors. In an update Tuesday (April 8), general manager Jason Bays told Collier commissioners the resort had already welcomed 200,000 guests. The chain has 22 locations in the United States and Canada. The one here is its newest, and it's the only one in Florida. "We've created 726 jobs at our property, 350 of those are year-round," Bays said.
› A Miami fintech founder turned down $200 million. Here’s why he doesn’t regret it.
A few years ago, Paolo Fidanza was staring at an offer most startup founders dream about: $200 million in capital, at a $400 million valuation. But the fine print told a different story. Accepting it would’ve meant giving up control of KEO World, the fintech company he launched during the early months of the pandemic. So he walked away.
› Why do Winchester Ranch developers want to be annexed by North Port?
The developers of Winchester Ranch in south Sarasota County want to be annexed into the city of North Port to guarantee the availability of water and sewer utilities on its 3,148 acres next to Wellen Park. The annexation will not alter the approved development density or land use map zoning. Concerns raised by residents during a neighborhood workshop included traffic impact and road improvements.
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› New airline services boost Orlando's connectivity to Europe, South America and U.S. cities
Orlando International Airport will add several new destinations in the coming months. The airport this year already added a number of flights, both international and domestic. Cottonwood Heights, Utah-based Breeze Airways added flights to Gulfport, Mississippi; Ogdensburg, New York; and Wilmington, North Carolina in February, while Discover Airlines added a Munich, Germany, flight in March.
› FDEP finds Lakeland's southwest sewage spill was much larger than first reported
The state has determined a raw sewage leak first reported as a "foul odor" by Southwest Lakeland residents is substantially larger than first reported, leading to an expanded cleanup effort. The Florida Department of Environmental Protection determined Lakeland's wastewater force main break discovered last year near Gateway Boulevard spilled approximately 1.8 million gallons of raw sewage into the wetlands between January 2020 and April 2024.
› After string of near-collisions, FAA wants to change flight rules over PBIA
The Federal Aviation Administration wants to make Palm Beach County’s skies safer after a string of near-miss collisions between private airplanes and commercial jets landing at Palm Beach International Airport. Too often, the FAA says, small aircraft have nearly crashed into commercial passenger planes descending onto a PBIA runway in the past few years.
› Nonprofit hospital giant grows 14%, surpasses $6 billion in revenue
One of the largest nonprofit health systems in Florida, BayCare, grew operating revenue 14% last year, to more than $6 billion. Clearwater-based BayCare Health System, with some 33,0000 employees, posted $6.27 billion in 2024 operating revenue, according to a statement. That’s up 13.99% from $5.5 billion the previous year.