SHARE:
Thursday's Daily Pulse
What you need to know about Florida today
Cannabis industry gears up for potential gold rush
Momentum is building to legalize adult, non-medical use of cannabis in Florida, with a ballot initiative well on its way to becoming a factor in the 2024 general election. Legalization could lead to a business bonanza as the Sunshine State, with only a medical marijuana program currently, is already the nation’s third-largest cannabis market. [Source: Business Observer]
Florida House and Senate advance proposed record spending plans for 2023-2024 year
House and Senate budget committees Tuesday quickly advanced proposed record spending plans for the 2023-2024 fiscal year, with key differences set to be hammered out after an Easter holiday break. Among the numerous differences, the House has proposed spending $107.9 million to expand the size of the Florida State Guard, while introducing a proposal that would cut state funding from the tourism-marketing agency Visit Florida. The Senate wants to spend $80 million on Visit Florida, up $30 million from the current year and doesn’t propose an increase in state guard funding. [Source: News Service of Florida]
Florida's insurance market is drowning in $1B+ of losses, report shows
U.S. property insurance companies posted the worst year of underwriting losses that the industry has seen in over a decade. The Florida property insurance market is a poster child for the industry’s tough year. Insurance companies with business in the state collectively had losses greater than $1 billion for the second consecutive year in 2022, and even more financial pain is expected once the total loss of Hurricane Ian is realized, according to an Insurance Information Institute report. [Source: Tampa Bay Business Journal]
DeSantis signs $711M affordable housing bill. Advocates say it doesn’t go far enough.
Gov. Ron DeSantis signed into law Wednesday a bill that pumps $711 million into affordable housing, a move that developers cheered but others said didn’t go far enough to help typical Floridians struggling to pay rent or buy houses. Dubbed the Live Local Act, the bill (SB 102) from Senate President Kathleen Passidomo redirects some tax revenue toward affordable housing over the next 10 years and creates incentives for developers of affordable projects. It essentially doubles the money Florida spent on affordable housing last year. But it also strips local governments of control over certain projects and outlaws local rent-control ordinances such as the one Orange County considered last year. [Source: Orlando Sentinel]
What are the best Florida restaurants? Yelp reveals Top 100 of 2023, ranked
One of the world's most popular review websites has again chosen to spotlight restaurants in the Sunshine State. Following its first-ever such list last year, Yelp recently revealed its ranking for the "Top 100 Florida Restaurants." The list includes numerous neighborhood gems as well as a restaurant our USA TODAY Network Florida Entertainment Team recently picked for best waterfront restaurants. [Source: Florida Today]
ALSO AROUND FLORIDA:
› After Ian: Thousands of Sarasota County residents remain stranded; local groups offer hope
As the region hits the six-month anniversary of Ian’s deadly rampage across Southwest Florida, hundreds if not thousands of local families are awaiting or have been denied relief from insurance or FEMA – many forced to live in campers or their cars. But for some residents, help may be on the way, say community leaders.
› Last Winter Garden citrus plant closes
The packing house was eerily quiet Wednesday, March 8, without the sounds of the machines whirring and the oranges and grapefruit tumbling down the conveyor belts to be sorted, boxed and bagged and shipped around the world. After 84 years of citrus production at its packing house in Winter Garden, Heller Bros. Packing Corp. has ceased operation.
› Parking in St. Petersburg likely to get easier, thanks to the Rays
Hundreds of parking spaces near downtown, the EDGE and Grand Central districts could come online soon, courtesy of the Tampa Bay Rays. The Rays and the city of St. Petersburg have an agreement to allow the public to park on six lots surrounding Tropicana Field on nongame days. According to city documents, the Rays requested help on enforcing parking violations and the areas surrounding downtown need parking for customers and employees.
› Miami unemployment lowest in history
Employers struggling to find candidates to fill jobs now know why: Miami-Dade’s unemployment in February was the lowest on record at 1.7%. The previous record low was 1.8% unemployment in the condo boom – before the condo bust – in December 2005 and February 2006, according to US Bureau of Labor Statistics records that stretch back to 1990.
Go to page 2 for more stories ...
In case you missed it:
