Florida TaxWatch economic forecast shows upward trends, with some areas of concern
Florida TaxWatch’s new analysis for economic growth in the Sunshine State in the next half decade shows steady increases. But there are areas of concern. The number of new jobs created in the state will definitely go up each year, according to the projection. But the pace of job growth could waffle. The one solid increase with no dispute, at least among the TaxWatch analysts, is the tourism industry will remain strong in Florida. [Source: Florida Politics]
Immigration crackdown fills waiting rooms in Florida law offices
Business is booming for immigration lawyers throughout South Florida, but some are warning potential clients to watch out for impostors looking to take advantage of a political climate that has thousands living day to day in fear. Nearly 5 million immigrants live in Florida, including over a third of the state’s agricultural workers and nearly a quarter of its construction workers, according to the Florida Immigrant Coalition. About 250,000 underage U.S. citizens live with an undocumented parent. [Source: Orlando Sentinel]
Do Florida residents spend the most on groceries compared to other states? See how we rank
According to WalletHub, Florida ranks 16th in the U.S. when is comes to grocery purchases. Florida shoppers spend 2.13 percent of their income on groceries, not far from the top-ranked state, Mississippi. The 2.13% reflects the cost of groceries as a share of the median monthly household income. [Source: Palm Beach Daily News]
Florida insurance companies steered money to investors while claiming losses
While Florida insurers claimed to be losing money in the wake of hurricanes Irma and Michael, their parent companies and affiliates were making billions of dollars, according to a study obtained by the Times/Herald. The start of the state’s insurance market meltdown came on the heels of those two storms between 2017 and 2019, as companies justified big rate increases to cover their losses. But those financial hardships don’t tell the full story. [Source: Tampa Bay Times]
Something’s fishy: Florida State research cracks the case on shrimp swap scandal
When it comes to seafood, people want the real deal – not some fishy bait-and-switch. But in the billion-dollar shrimp industry, it turns out diners might not be getting what they paid for: Eateries offering imported shrimp disguised as locally caught delicacies. Researchers at Florida State University developed a rapid DNA test to determine if shrimp is domestic or imported. [Source: Tallahassee Democrat]
ALSO AROUND FLORIDA:
› SS United States to become worlds largest artificial reef off Florida
The fastest ocean liner ever to cross the Atlantic Ocean is on its way to the Gulf Coast. The voyage will take about two weeks and it won't end well for the ship. The long-retired SS United States will become the world's largest artificial reef off the Florida coast after its cleaned and renovated in Mobile, Alabama.
› Saudis plan South Florida investment office
Out of all of the foreign investment sources that have pumped cash into South Florida real estate, financial institutions, and new businesses over the years, Saudi Arabia is a nation that at best has a nominal presence in the region. But this past week, amid a major public relations lift from President Donald Trump at a Miami Beach investment conference sponsored by the country’s Public Investment Fund, the oil-rich nation announced plans to locate an investment office in Miami, its second in the U.S. after Washington, D.C.
› With next-generation data center, St. Pete's Lonestar Data Holdings aims for the moon — again
Lonestar Data Holdings founder and CEO Chris Stott said the St. Petersburg startup learned a lot after its tech reached the moon's surface onboard Intuitive Machines' lunar lander last February. Stott said the complications (an imperfect landing and an early end to the mission) have now prepared the company to meet a Feb. 26 launch date from Cape Canaveral for Freedom, its next lunar data center mission and second trip to the moon with Texas-based Intuitive Machines.
› Miami-Dade’s Zoom era may be ending. Mayor orders county workers back to their desks
Miami-Dade County’s government employees will see an end to remote work this spring, according to a memo released Friday by Mayor Daniella Levine Cava. Levine Cava set an April 15 deadline for ending the five years of remote work that started when most office buildings shut down at the start of the COVID-19 pandemic in 2020.
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› $8 billion Foot Locker begins 'lace up' pilgrimage to St. Petersburg
At the St. Petersburg Area Economic Development Corp.'s annual meeting, held Feb. 19 at the St. Pete Museum of History, there was a new face in the crowd: Foot Locker Executive Vice President and Chief Commercial Officer Frank Bracken was welcomed as a representative of the latest Fortune 100 company to move to the area, joining Jabil, TD Synnex and Raymond James.
› Orlando Health's decision to close Rockledge Hospital doesn't sit well with community
Orlando Health's decision to close its Rockledge hospital just months after buying it has sent shockwaves throughout the Central Brevard County area long served by the hospital. "We're very disappointed," said Rockledge Mayor Tom Price, who was fielding many calls from city residents and hospital employees about the Orlando Health announcement that the hospital is closing and will be torn down.
› Duke moves forward on solar projects
Duke Energy Florida said Friday it is moving forward with plans for solar-energy sites in Madison County, Sumter County, Hernando County and Jefferson County. The plans were included in a base-rate settlement that the Florida Public Service Commission approved in August. Duke said it made a filing Friday at the Public Service Commission outlining the projects.
› Florida’s Disney World tourism oversight board gets new chair, board members
Gov. Ron DeSantis is reshaping a state board that will play a big role in Central Florida’s theme park future, installing a new chairwoman and two new board members on the panel overseeing government services for Walt Disney World. The state’s Central Florida Tourism Oversight District is working with Disney on a development plan expected to bring a $17 billion investment to the region in the next 10 to 20 years.