Lack of affordable childcare for workers costs Florida businesses $4.5 billion per year
To get subsidized childcare through Florida’s federally funded School Readiness Program, families cannot earn more than 150% of the federal poverty line. Nearly 30% of Florida parents have seen childcare issues disrupt their employment, according to a 2023 Florida Chamber Foundation study. A quarter of parents cut back on their working hours, while one in six leave their jobs entirely — all to provide childcare to their kids. [Source: Miami Herald]
Lawsuits against insurers declined again this year. Will this year’s hurricanes reverse the trend?
Lawsuits against insurers in Florida have continued to decline in 2024 following reforms enacted two years ago. Insurers say the declines have reduced costs and helped them to reduce or stabilize rates charged to policyholders. Attorneys who represent insurance customers counter that the reforms made it more costly for policyholders to challenge insurers and left many with no recourse when their insurer denies or underpays claims. [Source: South Florida Sun-Sentinel]
Veterans face challenges starting small businesses but there are plenty of resources to help
Many veterans who’ve started small businesses tell a similar story: Their military service prepared them mentally for the task, but they were at a disadvantage when it came to the financial part. “Vetrepreneurs” – veterans that start small businesses or startups -- own nearly 2 million small businesses that employ 5.5 million people in the U.S., according to the Small Business Administration. They take in about $1.3 trillion in revenue annually. Their numbers have shrunk, however, as the veteran population has aged. [Source: Click Orlando]
National Hurricane Center monitoring area of interest with 'medium' formation chance
Even though Hurricane Rafael has dissipated in the Gulf of Mexico, there are still a few more weeks left of hurricane season. Right now, the National Hurricane Center says it's monitoring an area of interest in the western Caribbean Sea where a broad area of low pressure could form soon. [Source: WESH]
South Florida’s ports break cruise passenger records in 2024
South Florida’s premier seaports, PortMiami and Port Everglades, reported record-breaking cruise passenger numbers for fiscal year 2024, highlighting the region’s dominant role in the global cruise industry. Both ports continue to fuel economic growth and innovation, underscoring South Florida’s reputation as a top cruise destination. More from Travel and Tour World, the South Florida Sun-Sentinel, and the Orlando Sentinel.
ALSO AROUND FLORIDA:
› Tupperware to close headquarters in Orlando, lay off 145 employees
Less than a week after reaching an agreement to sell itself to a lending group, Tupperware Brands told the state it will terminate operations at its Orlando headquarters and lay off 145 employees by the end of the year. In a notice filed Nov. 5 with the Florida Department of Commerce, the company said it will permanently close its facility at 19401 S. Orange Blossom Trail with layoffs going into effect Dec. 31.
› City National Bank of Florida to add 200 staff
City National Bank of Florida plans to grow its workforce by 20% over the next two years, adding 200 employees to its current staff of 1,000. Vice Chairman and CEO Jorge Gonzalez said the Miami-based bank is in growth mode to meet the rising demand for services in several Florida markets.
› UF, UCF, Embry-Riddle launch Florida space research group with NASA's Kennedy Space Center
Days after a suite of scientific experiments arrived at the International Space Station after taking flight from the Space Coast, Florida officials launched a new university-level space research consortium with eyes to the future. The University of Florida, University of Central Florida and Embry-Riddle Aeronautical University will facilitate the awarding of NASA research grants in partnership with Kennedy Space Center as "the state’s official space research entity."
› Tampa-based Amscot financial services expands locations into Jacksonville
One of Florida’s fastest-growing financial services companies is First Coast bound. Amscot is opening a new location in Jacksonville at 7051 Collins Road on the city’s West Side in the Argyle Forest area. The Jacksonville location is yet another addition to the Tampa-headquartered financial advisory business.
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› Some smaller arts groups shut out of Brevard's cultural grants because of new guidelines
The Brevard County Commission will vote Tuesday morning on county-funded marketing support for 44 major events, arts and cultural organizations and events, and sports events, under a revamped grant program. But, for some other cultural organizations, there will be no grant for the current budget year because of stricter guidelines.
› Business books bring techy energy to the 2024 Miami Book Fair
Miami’s cultural calendar wouldn’t be complete without the vibrant Miami Book Fair, and this year more than ever, tech and business books are taking center stage. The 41st annual edition, running from November 17-24, is packed with insightful discussions on AI, entrepreneurship, and the world of big tech – a theme that reflects our increasingly tech-driven lives.
› Winter Park National Bank acquired by credit union from outside state
A Michigan credit union plans to acquire Winter Park National Bank. Dearborn, Michigan-based DFCU Financial announced Nov. 8 it would make the deal to complement its existing presence in Florida, which includes branches in Tampa, St. Petersburg, Naples and Fort Myers. The acquisition is the credit union's third in the state.
› Federal money for Cross Bay Ferry could help fund dock in St. Petersburg
St. Petersburg officials have long struggled to secure a permanent downtown home for the Cross Bay Ferry. A potential solution to the waterborne hurdle has appeared on the horizon. A $4.86 million federal grant awarded in fiscal year 2021 is approaching its sunset date. Hillsborough County, the recipient, no longer wants to manage the embattled service that connects downtown Tampa and St. Petersburg.