November 13, 2019

Thursday's Daily Pulse

What you need to know about Florida today

| 11/7/2019

Citrus oversupply latest hurdle for Florida growers

Juice processors did not expect Florida citrus production to return to the level seen just before Hurricane Irma and signed three- and five-year supply deals with growers from countries including Mexico and Brazil. Those contracts have left Florida growers, who had faced more than a decade of declining production, facing a market glut. [Source: WPEC]

Business Florida
Florida's assets: Right location

Florida’s strategic geographic location, combined with its state-of-the-art, multimodal infrastructure, multilingual workforce and heavy concentration of corporate and financial resources, facilitates a ready flow of people, goods and services over oceans and across international borders to and from the Sunshine State. [Source: Business Florida]

U.S. business sees dwindling prospects in Cuba

The Havana International Trade Fair is where Cuba puts the best face on its struggling economy. There are state-run restaurants stocked with fresh food; shiny displays of electric motorcycles from traders in Panama; dozens of Cuban government companies offering goods from cigars to farmed shrimp. One dark spot this year was the American section, where the U.S. presence has shrunk from dozens of companies during the Obama administration to a handful today. [Source: Miami Herald]

Recession fears ease in Florida

For the first time in six months, the probability of a recession in Florida has declined, according to the chief economist at the Florida Chamber Foundation. Jerry Parrish now pegs the likelihood of a recession in Florida in the next nine months at 34.9%, down from this year’s peak of 38.1% in September. But that is still sharply higher than the 20.8% recession probability in April, the last time the recession forecast was decreasing. [Source: Sarasota Herald-Tribune]

Federal appeals court upholds Mosaic's phosphate permit

Rejecting arguments of environmental groups, a divided federal appeals court has backed a decision by the U.S. Army Corps of Engineers to issue a permit sought by the phosphate company Mosaic for expanded mining operations in Florida. A three-judge panel of the U.S. Court of Appeals for the 11th Circuit on Monday upheld a decision by the Army Corps to issue a permit needed by Mosaic to discharge dredged and fill materials into waterways. [Source: Daily Business Review]

ALSO AROUND FLORIDA:

› Southeastern Grocers now offering CBD products in Florida stores
Southeastern Grocers, Inc., parent company of BI-LO and Winn-Dixie grocery stores, announced when the release of various CBD products across 152 of its stores throughout Florida and South Carolina.

› Hernando commissioners reject building villas on golf driving range site
Residents around the Oak Hills golf course say they picked their homes for the privacy and green space, and that their roads already are too crowded. Yet, the owner of the community golf course partnered with a developer, seeking to change 20 acres of driving range and maintenance area into a site for 90 villa homes.

› Benderson Park’s economic impact hits $34.8 million
Nathan Benderson Park brought $34.8 million in economic impact to the Sarasota-Bradenton area in the last fiscal year, the highest other than the 2017 World Rowing Championships. The outdoor sports facility contributed $34,828,863 to the local economy in its 2018-19 fiscal year, which ended Sept. 30, according to data from Visit Sarasota County released Monday.

› Office projects and tenants migrate to Wynwood
Not once in its entire history, first as an industrial area and then as an edgy mecca for art, food, and entertainment, has Wynwood had purpose-built office space. Until now. No fewer than four properties incorporating office space have been delivered within the year or are under construction.

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