Sales Tax Holiday Returns as Crist Signs Legislation
After a two-year hiatus, a three-day sales tax holiday for clothes and school supplies returns to give back-to-school shoppers a small break this summer. The break on state and local sales taxes will be the weekend of Aug. 13-15. Exempt items are clothes and books that cost less than $50 and school supplies costing less than $10. Gov. Charlie Crist signed the bill at a Target store in Orlando. [Source: St. Petersburg Times]
A Monster Financial Operation Quietly Grows Florida Roots
Five years ago, after a national search, in 2005 the Depository Trust & Clearing Corp., a Manhattan financial processing juggernaut, chose Tampa for its Southern Business Center. The idea was to decentralize DTCC from its HQ 10 blocks from the World Trade Center which, after the 9/11 attacks in 2001, felt too vulnerable. Now DTCC Tampa's 530 employees can handle the firm's business from here, if needed. Last year, Tampa settled U.S. securities transactions worth $1.5 quadrillion. [Source: St. Petersburg Times]
Tax Waiver Plan on August Ballot
Before voters decide whether to give them authority to waive property taxes for new or expanding businesses, the county commissioners say they need to make their intentions clearer. On Wednesday, the commission unanimously agreed to put the question on the Aug. 24 ballot. If voters pass the measure, the commissioners may consider waiving up to 100 percent of county property taxes for up to 10 years for local businesses that add jobs. [Source: Sarasota Herald-Tribune]
Kiplinger's Snubs Florida in Top 10 Cities List
Kiplinger’s has released the 10 top cities for the next decade and Florida’s cities are conspicuously absent from that list. The likes of Jacksonville, Dunedin, Ave Maria and DeLand lost out to Des Moines, IA and Rochester, MN. “We focused on places that specialize in out-of-the-box thinking,” said the editors of Kiplinger’s.
[Source: Sunshine State News blog]
» See Kiplinger's 10 Best Cities for the Next Decade
Apple Passes Microsoft as World's Biggest Tech Company
Apple has surpassed Microsoft as the largest technology company in the world by market capitalization. Apple's move comes as the company's iPhone, and now its iPad tablet computer, have taken on more of the personal computing tasks once handled by computers running Microsoft's Windows operating system and other programs. [Source: Miami Herald]
» See Interactive Chart of Apple and Microsoft’s Tug of War [Source: New York Times]
ALSO AROUND FLORIDA:
› New Technology Firm Makes Debut Locally
A new technology company has been formed in Tallahassee by an engineer from the National High Magnetic Field Laboratory and will produce superconducting cable as part of an international fusion energy project. The business is starting out with a $5 million federal contract to produce components for what could essentially be a unlimited source of clean, carbon-free electricity, officials said.
› Justices Again Reject Fla. Tax Break Challenge
For a second time this week, the justices Wednesday refused to hear an appeal of lower court rulings upholding the constitutional provision limiting increases in annual property tax assessments to 3 percent for primary homeowners.
› Palm Beach to Publix: Be Less ... Public
You might think it's great news when the only supermarket in your town plans to build a bigger store that will add 10,000 square feet of space to accommodate a larger selection of wines, fish and organic foods. But if you do, chances are you don't live in Palm Beach. In Palm Beach, the announcement of a bigger, new Publix is reason for guarded concern, and a public symposium on architecture, interior design and finding a way to make a parking lot that doesn't look like a parking lot.
› Surge in New Home Sales Expected to End
Sales of new homes posted another large gain in April, driven by buyers rushing to sign contracts before government tax credits expired. Activity was pushed higher by a host of buyers trying to sign sales contracts before the April 30 expiration of the tax credits expired. Sales also were driven by historically low mortgage rates. But many experts expect sales to slow in the coming months as households deal with slow job growth and tight credit.
› Florida Tomato Prices Plummet, Consumers Win
Just last month, tomatoes were so scarce that they disappeared from grocery store shelves. Burger fans had to ask for them at restaurants, and pay a high price too. What a difference a month makes. Now, due to the nonsensical Florida winter, so many tomatoes have suddenly come on the market that prices have collapsed, and farmers are losing money on nearly every shipment. Some farmers are opening their fields for a $1 pick-your-own bucket special, or just giving them away.
› Opinion: 'Survivor' Offers Lessons in Ethics
The reality series amounts to a game that quickly teaches you that honesty and integrity are easily traded off when winning a million dollars is at stake. The lesson for every entrepreneur is that while success is fantastic and worthwhile, the measures you take to achieve it are really what count. The old cliche, "What goes around, comes around," springs to mind. If you abuse or take advantage of people on the way up, they are going to do everything in their power to make sure that you fail.
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› Sarasota Leaders Look at Resort Tax
Having just raised the tax on overnight lodgings by a half-cent on the dollar earlier this month, county commissioners and a panel that advises them on tourism issues are struggling to reach a consensus about whether the tax should be increased again. The resort tax raises money the county can devote to promotions, the arts and other tourism-related expenses, such as upcoming renovations at Ed Smith Stadium.
› Using Bad News to Plan a Good Holiday Weekend
Forget mosquitoes and specials on potato salad. This year, Memorial Day travelers have a new list of hassles (oil spills, airline strikes) and reasons to celebrate (a discounted euro, low gas prices). Not surprisingly, ecology and economy both are shaping the complex travel landscape as the summer vacation season unofficially launches Friday with the arrival of the holiday weekend. Between falling oil prices, Europe’s financial struggles and fears of oily beaches, travelers can find great deals where they might otherwise not expect them.
› 500 Jobs Coming Soon with Ed Smith Stadium Contract
Unlike most stimulus projects that create jobs months or even a year or more in the future, the renovations at Ed Smith Stadium and Twin Lakes Park are expected to prompt hiring within weeks. A pair of Southwest Florida firms won the first $18.7 million in construction projects Wednesday for the renovation of Ed Smith Stadium and the county's baseball operations at Twin Lakes Park. This part of the work on the overall $31.2 million spring-training project is expected to create 267 jobs. When all is said and done, the entire project is projected to create 500 jobs.
› NASA: Shuttle Atlantis May Have Some Fire in Her Yet
Decision-makers in Congress and the White House's science and budget offices have been briefed on the pros and cons of an extra mission for the shuttle. NASA wants a decision by next month. The mission would ensure that the International Space Station remains well-stocked as NASA transitions to commercial deliveries of cargo to the outpost on new rockets and spacecraft, whose development is likely to experience delays. Another Atlantis mission would extend employment for some of the roughly 8,000 Kennedy Space Center employees who could be let go when the program ends.
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