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Wednesday's Daily Pulse
What you need to know about Florida today
Florida remains major destination for national retailers looking to expand
From fast casual restaurant chains to gym franchisees, merchants continue to show a strong interest in Florida with dozens actively looking to expand footprints in the state or to debut concepts here. This interest is due in large part to the number of people moving here since the pandemic began in 2020. And it continues despite economic realities of rising interest rates, high labor costs and the state’s property insurance crisis. [Source: Business Observer]
Idalia hit one of Florida's poorest areas. How could that impact an economic recovery?
Florida’s Nature Coast, where Hurricane Idalia ripped through stands of pine and cedar trees, small towns and waterfront villages, is one of the poorest and least populated regions in the state. That may inhibit an economic rebound in the months ahead. Many of the counties hit hardest by the storm have been outliers in Florida’s almost non-stop population growth. [Source: WUSF]
Immigration law may worsen labor shortages in Florida as planting season begins
A new state immigration law could worsen labor shortages in Florida’s agricultural industry, a sector that heavily relies on migrant labor and struggles to find domestic workers, according to growers, immigrant workers and farmworker advocates. The new Florida law, known as SB1718, came into effect on July 1. The legislation cracks down on undocumented labor and enacts a series of other immigration-related restrictions. [Source: Miami Herald]
Florida gas prices hit 11-year Labor Day high
Florida gas prices on Labor Day cost more this year than in the past decade, despite declining 11 cents per gallon over the preceding two weeks. On Monday, the state average price for regular gasoline was $3.70 per gallon, down from $3.81 on Aug. 21. The last time fuel costs were that steep on Labor Day was in 2012, according to AAA — The Auto Club Group, which found the cost dipped further to $3.68 per gallon by Tuesday morning. [Source: Florida Politics]
Several Florida areas lose eligibility for federal rural home loan program
Nine counties in Florida have areas that will no longer be eligible to participate in a federal loan program for rural housing due to population increases. The U.S. Department of Agriculture's Rural Development completed its recent review of rural areas nationwide, using data from the 2020 U.S. Census. The ruling goes into effect for those areas on Oct. 1. The program allows eligible low and moderate income borrowers to receive no-money-down mortgage loans issued by participating lenders and backed by the federal government on both existing homes and new construction. [Source: The Center Square]
ALSO AROUND FLORIDA:
› Is AI the future for building Tampa Bay high-rises?
In a matter of months, 400 Central Avenue, the site of St. Petersburg’s future tallest building, has gone from a ground-level foundation to a multi-story cement structure rising rapidly from the ground. Parker Mundt says artificial intelligence has accelerated the pace of construction for the Residences at 400 Central, a 46-story condominium tower that will become the tallest structure on Florida’s Gulf Coast.
› Could Orlando's office market be the biggest bargain in the US?
The Covid pandemic and the rise of remote work has created a tepid environment for all things office-related. Yet local experts are optimistic due to factors like Orlando having the lowest office rent prices per square foot in the nation, according to an analysis of 50 of the top U.S. markets. Low lease rates for tenants can be good for Orlando as a whole, experts agree, as they can result in companies bringing their business here.
› What’s behind those DoorDash messages on a Miami-Dade ordinance? A big fight on data
A high-stakes battle over delivery apps, ghost kitchens and data privacy is quietly unfolding in Miami-Dade County, and local DoorDash customers are getting hints of the fight to the come. Users of the digital delivery app in Miami-Dade have been getting messages warning of a proposed county ordinance “that would require platforms like DoorDash to share personal identifying information about customers like you each time you place an order.”
› Mysterious Wednesday Cape launch could be a DoD hypersonic missile test
Launch activity from Cape Canaveral Space Force Station this week is seeing an uptick. As many as three launches are on deck through the weekend. However, one of them is unlike the others in that it could be a possible Department of Defense weapons test: the launch of a hypersonic missile.
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