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Wednesday's Daily Pulse
What you need to know about Florida today
Florida's February consumer sentiment slides to lowest reading in a decade
Consumer sentiment in Florida slipped for a second consecutive month in February to 68.4, down 1.1 points from a revised figure of 69.5 in January and reached its lowest level in the last 10 years. Among the five components that make up the index, one increased and four decreased. Floridians’ opinions about their personal finances now compared with a year ago decreased 1.5 points from 65.1 to 63.6. Similarly, opinions as to whether this is a good time to buy a major household item like an appliance dropped 3 points from 57.3 to 54.3, the largest decline in this month’s reading. [Source: UF News]
Florida and New York share an interstate, but their COVID cultures are worlds apart
Faced with the same pandemic — with remarkably similar but no less tragic death tolls (as of Feb. 21, Florida at 68,955; New York at 66,466, out of total populations of 21.78 million in Florida and 20.21 million in New York) — the two states have chosen strikingly different paths forward. Our contrasting COVID cultures impact everything from whether we don masks to how — or even if — we dine out. More from the Florida Times-Union and Florida Today.
Here’s how many new business applications Florida received in 2021
From January 2021 through January 2022, over 5.8 million applications for new businesses were filed, according to Business Formation Statistics from the U.S Census Bureau - or 1,772 for every 100,000 Americans. Florida accounted for 683,680 of all new business applications filed nationwide over the same period, the most among states. Adjusting for population, however, there were 3,183 applications for every 100,000 people in Florida, higher than the national average and the fourth highest among states. [Source: The Center Square]
Private prisons, pay for state attorneys and public defenders remain sticking points in budget
The Florida House and Senate remain at odds over private prison operations and pay for state attorneys and public defenders after the latest House Criminal and Civil Justice budget offer Tuesday morning. There is nearly $14 million for private prison operations in the latest House offer, about $20 million short of the nearly $34 million included in the Senate budget. The House also includes $10.2 million for information technology improvements in the Department of Corrections, about $5 million shy of the Senate’s preference. [Source: Florida Politics]
Tampa insurance startup takes over $400M in premiums from degraded Florida insurer
The Tampa insurance startup Slide is acquiring $400 million in premiums from St. Johns Insurance Co., adding coverage to an estimated 150,000 policyholders, the company announced Tuesday. St. Johns Insurance Co. served Florida and South Carolina residents for nearly 20 years from their headquarters in Orlando. As one of Florida’s largest property insurers, policyholders were at risk of being forced to find new coverage when a ratings agency withdrew St. Johns’ “A” rating assessment in February. [Source: Tampa Bay Times]
ALSO AROUND FLORIDA:
› How will we get European visitors back to Southwest Florida?
Southwest Florida's tourism industry ascended to new heights in 2021. Visitation in Sarasota County was up 4% compared to 2019. The cost of a hotel room increased by 15%, on average. And visitor spending reached an all time high, ticking upwards of $2 billion. There was just one problem: Almost all of that growth was driven by Americans.
› Some South Florida companies, corporations remove Russian-made products from shelves
Some companies and corporations in South Florida are showing support for Ukraine as they remove Russian-made products from their shelves. Total Wine took to social media to share that they will no longer sell any Russian-made products. Several signs were attached to their shelves where they had alcohol made in other countries on display.
› New Women Business & Career Center launched to help Latina entrepreneurs in Orlando
With the goal of helping more Hispanic women break the digital divide and disparity in science, technology, engineering and business careers, the Women Business & Career Center has opened in Orlando at the Polytechnic University of Puerto Rico. The initiative is an alliance between the Polytechnic University of Puerto Rico in Orlando and the Inspírate (which means inspire) program, founded by Puerto Rican businesswoman Margie Viera.
› Tampa Bay marketing firms Big Sea and Sparxoo merge
Two of Tampa Bay’s largest marketing firms are merging to become one agency. Big Sea and Sparxoo announced Tuesday that the companies are merging to form one statewide digital marketing firm. The new company, under the name Big Sea, will offer marketing, branding, video production and web development services, according to a press release.
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