Florida Trend Exclusive
Florida 500
Welcome to the 2024 edition of the Florida 500, a special publication that highlights the 500 most influential executives in different economic sectors throughout the state. This immense, year-long research initiative by the editors of Florida Trend has resulted in a personal, engaging look at the state’s most influential business leaders. [Source: Florida Trend]
Florida accidentally banned banks from doing business in the state
Florida wanted to make it easier to invest in the state’s booming economy. For several weeks, the government accidentally made it illegal for most banks to sell investments there. Banks for four weeks weren’t allowed to sell securities such as corporate bonds or shares of private companies in the state because of a law that went into effect Oct. 1. [Source: Wall Street Journal]
Hurricanes might mean Floridians get swamped again: With a car insurance increase
The number of insurance claims on cars filed in Florida’s back-to-back hurricanes is approaching six figures: 91,975 filings for damaged passenger and commercial vehicles as of Monday, Oct. 28, data from the state Office of Insurance Regulation shows. And although Milton’s property damage claims dwarf Helene’s, Helene’s auto claims are 70% greater than Milton’s, state figures show. [Source: Palm Beach Post]
Florida Trend Exclusive
Economic development: The cluster conundrum
For the unrealized dream of Florida’s billion-dollar bid to build a new era of bioscience industry here, look at a 70-acre site in the northern part of Palm Beach County. By now, the tract on Donald Ross Road was supposed to be well on its way to hosting 1.6 million square feet of high-wage bio-businesses clustered around life sciences research recruit Scripps Florida. Instead, it’s vacant. [Source: Florida Trend]
Florida’s ‘cat fund’ for damage could face $4.6 billion tab after Hurricanes Milton, Helene
A state program that provides critical backup coverage for property insurers could pay out an estimated $4.6 billion because of claims from hurricanes Milton and Helene, officials said Wednesday. If that preliminary estimate holds, the Florida Hurricane Catastrophe Fund would have adequate cash to cover its share of losses, leaders and a financial adviser told members of the Florida Hurricane Catastrophe Fund Advisory Council. The vast majority of estimated losses stem from Hurricane Milton. [Source: News Service of Florida]
ALSO AROUND FLORIDA:
› 'Hollywood East:' Orange County aims to boost film, TV business
Orange County is getting closer to offering incentives to draw film and television production back to Central Florida. The county's film incentive working group on Oct. 29 proposed $22 million in incentives over a five-year period through tourist development tax collections for film and television production.
› ‘It’s a magnet’: Officials celebrate groundbreaking of Pearl Square in Jacksonville
Construction on Gateway Jax’s first development project in downtown Jacksonville officially began with a groundbreaking ceremony Tuesday. Gateway Jax, a Jacksonville-based commercial real estate development firm sponsored by JWB Real Estate Capital and DLP Capital, announced last year a $500 million mixed-use development project in downtown that includes apartments, grocery and retail spaces.
› Air taxi flights targeting Miami’s skies by 2026
Air taxis could be cruising the skyline as soon as summer 2026, as UrbanLink is progressing with plans to launch an all-electric fleet geared to transform transportation in Miami. A South Florida-based startup, UrbanLink is an advanced air mobility (AAM) company working to revolutionize aerial and maritime transit through cutting-edge, zero-emission solutions.
› Sarasota Orchestra hires architects for new performance space and music center project
A Boston-based architectural firm known for designing music centers and higher education buildings has been selected to create a new Sarasota Orchestra music center which has been in discussion for years. After months of search and interviews, the orchestra has selected William Rawn Associates, which has received much praise for its Boston Symphony Orchestra Seiji Ozawa Hall at Tanglewood, and the Boston Symphony’s Linde Center for Music and Learning at Tanglewood, among other buildings around the country.
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› Florida-Georgia game to be played in Tampa in 2027, report says
The bay area reportedly is set to get another crown jewel in its glistening sports cap. The city that has hosted Super Bowls, a College Football Playoff title game, women’s Final Fours and even a WrestleMania is expected to land one of college football’s most storied rivalry games for at least a year. On Wednesday, Action Network’s Brett McMurphy reported the Florida-Georgia game will be held at Raymond James Stadium in 2027 and Atlanta in 2026.
› A Miami AI company’s CEO will pay $64,000 to settle accusations of lying to investors
The CEO of an AI robotics company that she ran out of a Miami apartment was better at hiding truths about the company’s progress, herself and where investor money got spent than guiding the company to produce the service robot it promised investors. At least, that’s what an Securities and Exchange Commission complaint against Destiny Robotics and CEO Megi Kavtaradze claimed.
› Blue Man Group sets Orlando return for next spring
Blue Man Group’s new Orlando show will debut April 3, the company announced Tuesday. Tickets are now on sale for the production, which will take place in a to-be-built theater near the base of the Orlando Eye at Icon Park on International Drive. The space will seat 578 audience members, and it will be the first Blue Man home built from the ground up.
› Sarasota-based physical therapy franchise surpasses 600 locations
A Sarasota-based physical therapy franchise has more than 600 locations open nationwide. Fyzical Therapy & Balance Centers hit the 600-clinic milestone with the recent opening of a clinic in Hendersonville, Tennessee, after more than a decade of franchising. The company was founded in 2012 and began offering the opportunity to franchise in 2013.