SHARE:
Wednesday's Afternoon Update
What you need to know about Florida today
Florida Trend Exclusive
How Florida's Legislature is addressing spiraling premiums
Whether for home or auto, insurance is costly and getting costlier. Floridians pay triple the national average for home coverage. Renters also suffer through insurance costs passed on by landlords in the rent: Some 91% of monthly rent is a pass-through of maintenance, taxes and insurance, according to the Florida Apartment Association. Meanwhile, insurance companies failed or cut back on writing policies, leading the number of customers at state-backed Citizens Property to soar. More from Florida Trend.
Incomes have spiked in these Central Florida counties. See how they compare to the rest of the state.
Brevard and Volusia counties have seen some of the greatest increases in resident incomes in the state, according to an analysis of data from the U.S. Census Bureau's American Community Survey. The data, which charts median household income by county, shows Volusia and Brevard counties were both among the top five Florida counties for increases between 2014-2022. More from the Orlando Business Journal.
Tampa startup turns invasive species into exotic leather fashion brand
The next time you see a friend or colleague sporting a nice new leather wallet or handbag, take a closer look: Thanks to a Tampa startup, it might be made from the skin of one of Florida’s most notorious invasive species. Founded during the pandemic, Tampa-based Inversa aims to protect — and regenerate — the environment by turning invasive species into branded exotic leather for fashion. More from the Business Observer.
Jacksonville City Council unanimously approves $9 million in jail projects
Jail maintenance projects top $9 million, but could keep the building operational while the city considers moving the facility out of downtown, City Council members said in committees last week. Renovating or building a new jail has been a passive item, consistently billed as “beyond five years” from now, on the Capital Improvement Plan for years. Council established a committee late last year to bring the discussion into the present. Now, the committee says investing in the current facility will give the city time to finalize plans for a new jail and police headquarters. More from the Florida Times-Union.
Global MSC Group plants its U.S. base in Miami’s Overtown
On Overtown land where the City of Miami once planned 1,050 units of affordable and mid-income housing, a global cargo firm and cruise line will invest $100 million to develop a new U.S. headquarters, uniting its 250 South Florida employees under one roof. Switzerland-based MSC Group announced the new headquarters last week after county commissioners earlier in the day had approved two job incentive payment programs to the company to help secure its expansion here without revealing the company’s name in the vote. More from Miami Today.
| Trend Mention |
|
Retail Trends
Sprouts makes headway in Florida’s Publix-dominated market
Arizona-based Sprouts Farmers Market opened two new stores in Florida in the first three weeks of the year, with more on the horizon. The company has entered into a highly competitive market dominated by Publix and dozens of other grocers vying for shoppers’ attention. And money.
» More from the Business Observer.
Florida Dining
13 Florida restaurants make Yelp's list of Top 100 Places to Eat in the U.S. for 2024
The list, which Yelps notes is produced through a combination of community submissions and data, features 18 restaurants from California. Florida came in second place with 13 restaurants. The businesses represent diverse cuisines and are found in communities of various sizes throughout the Sunshine State.
» Read more from Florida Today.
In case you missed it:
