If recreational cannabis is approved in Florida, where might the tax revenues go?
One of the arguments supporters of the proposed state constitutional amendment legalizing the recreational adult use of cannabis in Florida tout is an increase in revenues to the state. The nonpartisan Florida Financial Impact Estimating Conference said last July that, based on other states’ experience, if Amendment 3 passes this fall expected retail sales of non-medical marijuana in Florida would generate at least $195.6 million annually in state and local taxes once the retail market is fully operational. It could go as high as $431 million. [Source: Florida Phoenix]
U.S. Supreme Court poised to announce whether it will take up Florida online-sports-betting case
U.S. Supreme Court justices gathered privately Thursday to discuss the myriad cases brought before them, seeking to be heard. One on their list: online sports betting in Florida. The justices may have already made their decision, but the public likely won’t know until this Monday or the following Monday whether the Supreme Court will hear the case, reject it, or reverse a lower court’s ruling that had previously paved the way for online sports betting in Florida. [Source: South Florida Sun-Sentinel]
Column: As hurricane season approaches, Florida can do more to weather the property insurance storm
As hurricane season has begun, Florida is starting to see some relief in the state’s property insurance market. While Florida property insurance rates continue to be among the highest in the nation, the percentage at which those rates have increased has slowed some. Signaling further relief for Floridians, eight new insurance companies are expected to enter the state to help stabilize the market and lessen the burden on Citizens Property Insurance Corp., the state’s taxpayer-funded “insurer of last resort.” [Source: Tampa Bay Business Journal]
Florida small businesses impacted by flood waters may qualify for disaster assistance
While state officials are still assessing the damage from this week’s rainfall, Governor Ron DeSantis announced in a press conference in Hollywood Friday morning they are exploring whether disaster assistance could be available for small businesses. DeSantis pointed out that the level of residential damage assessed so far does not amount to enough damage to qualify for a federal disaster declaration through FEMA, but that some assistance could be available for small businesses that have been impacted. [Source: NBC Miami]
Will a $1.6 billion highway save Central Florida’s Wekiva River — or doom it?
The new and extraordinary superhighway conceived as the savior of the imperiled Wekiva River has begun to reveal itself to environmentalists as the threat they had feared all along. Completing the $1.6 billion Wekiva Parkway was a marathon, spanning decades of tough talks and compromise. Road builders and developers crusaded for the road to complete the 111-mile beltway around Orlando. Environmentalists and rural residents warned it would rip a destructive gash across the Wekiva and pump cookie-cutter housing into the region’s most cherished and valuable wild place. [Source: Orlando Sentinel]
ALSO AROUND FLORIDA:
› Tampa Bay area nonprofits report more seniors seeking help with groceries
Linda Mote worked as soon as she turned 13, and she didn’t stop until nearly 50 years later, when arthritis and diabetes began to hamper her ability to deliver auto parts throughout the Tampa Bay area. Now 70, she and her husband can’t afford shopping for food and other supplies, she said. On Monday, she walked into Feeding Tampa Bay, a nonprofit organization provides free groceries to people in her situation, for the first time. “I did hard work all my life,” Mote said. “I don’t understand what’s going on in this world.”
› Their father grew this beloved specialty market in Miami Gardens. Now it’s their turn
On a quiet corner in Miami Gardens, the arrival of fresh collard greens fills Sunshine Meat Market with joyful noise on a Wednesday morning. A line of excited customers weaves through the brightly lit and colorful family-owned business. With wide smiles, sisters Vanessa and Karissa Disla talk to customers and help them with whatever they need. This is how their father, owner Rafael Disla, 54, imagined growing the business with his family when he bought the market over two decades ago.
› Collier County wants to cut its ties with the Florida Culinary Accelerator. Here's why.
The county has operated the accelerator for more than five years since taking over management from a non-profit organization, known as Economic Incubators Inc. in April 2019. Funded by county, state and federal dollars, the accelerator is designed to "promote economic development and diversify the local economy through the growth and development of food-related businesses."
› Tech company opens headquarters in Boca Raton, to create high-paying jobs
Cloud services company Innovative Solutions opened a corporate headquarters in South Florida after winning economic incentives from the city of Boca Raton. The business is slated to receive $60,000 from the city's Economic Development Incentives Policy Fund to create 30 new jobs. Those positions will come with an average annual salary of $120,000.
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› Harvey Chaplin built Miami spirits company into the nation’s biggest, donated millions
Southern Glazer’s Wine & Spirits’ chairman Harvey Chaplin changed the way America drinks. Chaplin, who died at his Miami home on June 9 at age 95, grew the company into the nation’s largest distributor of alcohol. As a philanthropist, with an estimated self-worth of $1.2 billion, according to Forbes, Chaplin donated millions to Miami-area schools of higher education, including Florida International University, and hospitals including Jackson and Mount Sinai.
› Minnesota firm closes $570M deal for Tampa elevator company
A $570 million acquisition of Tampa elevator maintenance and repair firm Elevated Facility Services Group has closed. The new owner, according to a statement, is New Brighton, Minnesota-based APi Group Corp., a publicly traded business services and contracting company. The deal was paid for through a fund managed by L Squared Capital Partners, according to a statement from APi.
› Jacksonville City Council split on $150 million Community Benefits Agreement with Jaguars stadium deal
The most popular part of the Jaguars stadium agreement in a recent University of North Florida poll has become the most debated portion in City Council. Council took up the “community benefits agreement” for the first time at a special meeting and split on how to move it forward. Currently, the agreement outlines a $150 million city match of Jaguars funding spread among initiatives throughout the county and specifically in the Eastside neighborhood.
› Legoland Florida names industry veteran as new leader
Legoland Florida has named a new top executive for the theme park and its associated properties in Winter Haven. U.K.-based Merlin Entertainments, which owns and operates Legoland Florida, on June 13 announced industry veteran Franceen Gonzales as its new park president, effective June 10.