Tuesday's Afternoon Update
What you need to know about Florida today
Florida faces apartment shortage
As more and more Floridians turn away from homeownership in favor of renting, the state is facing a serious shortage of apartments. Numbers from the Florida Apartment Association show that the state would need to add over 600,000 new apartments by 2030 to keep up with both the rising population and the increased demand. More from WJCT and WUSF.
Fourth tropical system begins taking shape in the Atlantic
Meteorologists with the National Hurricane Center have identified a tropical wave forming off of Africa’s west coast. A tropical disturbance currently located just north of Hispaniola is expected to result in heavy rainfall for the Bahamas on Thursday. The system is then slated to bring rain and thunderstorms to Florida as early as Friday. More from the Tampa Bay Times and the Miami Herald.
South Florida’s population is growing. It’s no thanks to U.S. residents
The Miami metro area gains about 94 new residents each day. But according to new data compiled by Bloomberg, any new arrival to Miami-Dade, Broward and Palm Beach counties is likely coming from abroad, not from elsewhere within the U.S. The data reflect U.S. Census Bureau calculations for the period from July 2017 to July 2018. More from the Miami Herald.
Southwest Florida construction company launches special projects division
A construction company that builds health care, commercial and hospitality facilities is launching a special projects division to work on tenant improvements, additions, renovations, repairs and specialty projects. Mark Stevens, the president of Stevens Construction, made the announcement in a news release and assigned Joe Cimilluca, a general contractor with 20 years of commercial construction experience, to lead the division. More from the Business Observer.
Direct deposit reversals strand hundreds of South Florida employees after payroll firm shuts down
Hundreds of South Florida employees — along with workers across the United States — faced the horrible discovery last week that their electronically deposited paychecks had been electronically removed from their bank accounts. The workers were left financially stranded after a third-party payroll processing company contracted by their employers — Clifton Park, N.Y.-based MyPayrollHR — shut down unexpectedly. More from the South Florida Sun-Sentinel.
Join ACG Florida for “Boca & Beyond”, our annual Florida ACG Capital Connection, Nov 18-20, 2019 at Boca Raton Resort & Club. The conference is focused on driving middle market growth and attracts over 600 attendees from around the country including private equity firms, investment/commercial banks, middle market companies, and other transactional advisors. Learn from our speakers/education, build relationships at our networking events, and close deals. www.acgflorida.com.
Best fried chicken in Florida? One national survey says it’s in Belle Glade.
A Belle Glade mainstay, Dixie Fried Chicken, has been named “Best Hole-in-the-Wall Spot for Fried Chicken” in Florida. The “best” distinction comes courtesy of an MSN.com survey, published last month and credited for a recent uptick in business at the brick-lined building that sits just off Main Street on Dr. Martin Luther King Jr. Boulevard West.
» More from the Sarasota Herald-Tribune.
Orlando's self-driving startup, Luminar Technologies
Can an Orlando startup overcome a host of challenges to help Central Florida make a name in self-driving autos? In the global race to develop self-driving cars, Florida took an early lead. Eager to draw a new wave of tech, the state enacted legislation to encourage vehicle trials. Out-of-state automakers, trucking firms and transit tech companies drove in.
» Read more from Florida Trend.
In case you missed it: