Florida among most expensive U.S. metro markets for business rental rates
The Fort-Myers-Cape Coral area saw the biggest jump in business rental rates in the country in the past year, while Florida in general is seeing hikes in the cost of renting space for entrepreneurs. The Miami-Fort Lauderdale-Pompano Beach metro area was ranked fourth on the list. Florida’s largest market is now charging, on average, $50 per square foot for renting a business space. [Source: Florida Politics]
Small Business Development Center urges Florida entrepreneurs to properly assess damage from Debby
It’s been a week since Hurricane Debby plowed through Florida from the Gulf Coast on its way to the Atlantic Ocean, where it battered more states. But the aftermath of the storm in the Sunshine State is still being assessed, and the Florida Small Business Development Center (SBDC) at University of North Florida is trying to tap businesses to see what help they need in recovery efforts. [Source: Florida Politics]
Here are the Florida Olympians who won medals in Paris
With the Paris Olympics officially over, it's time to count how many medals athletes with ties to the Sunshine State are taking home. The Florida athlete who won the most medals was swimmer Caeleb Dressel, who also is an alumnus of the University of Florida. [Source: WTSP]
Fastest-growing place for young kids in U.S. is in a Florida metro with the oldest residents
As one of the world’s largest retirement communities, The Villages in Central Florida is known for its endless golf courses, having the oldest median age in the United States and its traffic-stopping golf-cart parades usually supporting a Republican candidate during campaign season. What it’s not known for is kids. Yet the area that is home to The Villages has become the fastest-growing metro for young children in the U.S. this decade. [Source: AP]
Florida ranks second-best state to live in in 2024, per study
Florida is earning top marks in a recent report, which has named it one of the best states in the nation to call home. A recent WalletHub study compared the 50 states across key indicators of livability, including housing costs, income growth, and education rate—to name a few—and Florida was ranked second-best. [Source: WOFL]
ALSO AROUND FLORIDA:
› Empty South Florida big box stores will be absorbed by market, brokers say
Nearly 20 big box stores are slated to shut down in South Florida, but they will likely be absorbed by the market or redeveloped, insiders told the Business Journal. Home goods retailer Conn's and discount retail chain Big Lots both announced they would close hundreds of stores across the U.S. in July.
› Breaking down Jacksonville's ‘Stadium of the Future’ payment plan
Assuming NFL owners approve the “Stadium of the Future” deal between the city of Jacksonville and the Jacksonville Jaguars, it will soon be time for the city to make good on its commitment to contribute $625 million for the project’s construction and $150 million to make the venue usable for two seasons while work is underway.
› Subsidiary of Tampa insurance firm hits $1B premium milestone
Millennial Specialty Insurance, an indirect subsidiary of The Baldwin Insurance Group, based in Tampa, announced a significant milestone: it achieved $1 billion in force written premium in the second quarter of 2024. Millennial Specialty Insurance is one of the largest non-carrier-affiliated MGAs (managing general agents) in the country with over 1.5 million customers.
› Orlando permanently restricts location of downtown nightclubs
In its last look on the matter, Orlando city council members voted unanimously Monday to limit the location of nightclubs built downtown. The new rule mandates the establishments must be at least 300 feet from one another, meaning about one club is allowed per city block.
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› UNF survey again indicates economy contracting
For the fourth straight month, a survey of Jacksonville area manufacturers by the University of North Florida’s Local Economic Indicators Project indicates the economy is contracting. However, the businesses continue to express optimism about the economic outlook for Northeast Florida.
› SunRail’s DeLand station is finally open. Here’s what’s next for the rail system
By the end of its first five years of service, SunRail annual ridership had grown to almost 1.47 million travelers (fiscal July 2018-June 2019). That growth was steady, but the pandemic threw ridership numbers into chaos (down to a little over 620,000 riders for fiscal July 2020 to June 2021), a drop of around 55%. Crowds haven’t quite gotten back to the 2019 high: in fiscal year July 2023 to June 2024, annual ridership was just over 1.13 million.
› Diminished by bird flu and otter attack, Orlando moves to buy more swans
Faced with declining numbers of its hallmark swans due to bouts with avian flu and a hungry river otter, Orlando is in the market for six birds to bolster the population on Lake Eola. City Commissioner Patty Sheehan is planning to use $19,500 of her commissioner’s discretionary fund to buy the swans – three mated pairs of Australian Black, Trumpeter and Whoopers.
› Sarasota firm ranks among top 13 construction insurance companies in US
A commercial property and casualty insurance company based in Lakewood Ranch was ranked among the best construction insurance companies of 2024 by Insurance Business America magazine. FCCI Insurance Group earned a five-star rating from the business magazine, which reports it was among 13 companies to achieve that status.