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Tuesday's Afternoon Update
What you need to know about Florida today
State general revenue tops forecast
State general-revenue tax collections were more than 6 percent higher than anticipated in February, though economists cautioned that part of that result could be deceptive. The Legislature’s Office of Economic & Demographic Research on Monday released a report that showed net general revenue in February totaled nearly $3.538 billion, which was $217.6 million more than projected in a forecast released in January. More from the News Service of Florida.
BurgerFi reports lower sales, no profit ahead of Nasdaq noncompliance
BurgerFi International announced its fourth quarter and full year 2023 earnings today – the first financial report since the fast-casual restaurant chain remedied one of its delist warnings. The Fort Lauderdale-based burger restaurant chain (Nasdaq: BFI) made $170.1 million last year, a 4.8% decrease year-over-year. More from the South Florida Business Journal.
Duke reveals how much Florida electric bills may change in 2025
Tampa Bay’s two largest power providers are filing to raise base rates for customers again in 2025. Duke Energy and Tampa Electric Co. are expected to file thousands of pages of paperwork Tuesday with the Florida Public Service Commission, providing details into their requests to increase customers’ base rates next year. Base rates are one of several components that add up to the ultimate cost of customers’ monthly electricity bills. More from the Tampa Bay Times.
As Lee residents face 25% flood insurance increase, county tries to shift blame
Lee County residents will see their flood insurance rates rise about 25% after the Federal Emergency Management Agency says the county and several of its cities failed to meet some requirements needed to qualify for a rate discount following Hurricane Ian. Lee County officials, in emailed statements and news releases, pushed back at the hike — coming at a time when the property insurance market in Florida is already one of the more confusing, and costliest, in the country. More from the Business Observer.
Jaguars choose Rider Levett Bucknall for cost consulting
Jacksonville Jaguars LLC identified another top-ranked bid for work on its Stadium of the Future. The company said it identified Rider Levett Bucknall as the top-ranked among four respondents to a request for proposal for the role of cost consultant for the stadium project. It is a London-based global company with 15 offices in the U.S. among 20 in North America. More from the Jacksonville Daily Record.
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Event
Tortuga Music Festival 2024: Bands, boots, and bikinis return to Fort Lauderdale
Tortuga Music Festival 2024 returns to Fort Lauderdale Beach Park on Friday, April 5, its three days of boots-and-bikinis frivolity accompanied by recalibrated ticket prices that work better for some than others. One-day, general-admission passes are back for the first time in two years, going for $149 (not including taxes), an 8% increase over the $138 they cost when last offered in 2021.
» More from the South Florida Sun-Sentinel.
Business Profile
This Tampa cigar factory is now the last cigar factory in the United States
Since 2009, J.C. Newman Cigar Co. has been Tampa’s last operational cigar factory. Recently, the 129-year-old business located inside Ybor City’s El Regensburg Cigar Factory learned they have an even more notable distinction. They now run the last operational cigar factory in the nation.
» Read more from the Tampa Bay Times.
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