Florida TaxWatch: State’s economy is strong, but some bumps in the road ahead
Florida’s economy is on solid footing and projected growth over the next five years seems promising, but net migration to Florida will begin to slow, according to the latest economic forecast from Florida TaxWatch. The government spending and advocacy watchdog group has been publishing regular forecasts for the state’s economy for years. The 2024 to 2030 outlook projects some promising figures, but there are also cautionary signs in the detailed analysis. [Source: Florida Politics]
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» Does Florida have the best US economy? Here's where this list ranks it among best, worst
After volatility, Florida insurance market posts 1st profit in 8 years
A new hurricane season has landed amid dramatic improvements to the state’s insurance market, even if Florida policyholders still face a disproportionately harder hit than most other U.S. residents when financially fortifying homes against disaster. Unlike previous years, one of the country’s most esteemed ratings agencies is “cautiously optimistic” that Florida's insurance companies are well-positioned to handle whatever damage Mother Nature dishes out. [Source: Palm Beach Post]
Amid cuts, proposed NASA budget would lay waste to new Artemis launch tower
Work for now continues daily at Kennedy Space Center on a new mobile launch tower that has already cost more than $1 billion. But the Artemis moon mission it is intended to serve may never happen. The mobile launcher 2 has been rising steadily at a construction site just north of the massive Vehicle Assembly Building, where it stands now at 320 feet tall on its way to a target of 390 feet. It’s designed to support a larger version of the Space Launch System rocket called the SLS Block 1B beginning with the Artemis IV mission. [Source: Orlando Sentinel]
Investor condo purchases fall in Florida
Investor purchases of U.S. condos dropped 3% year over year in the first quarter of 2025, reaching their lowest level since early in the pandemic, according to data from technology-powered real estate company Redfin. Florida played a major role in the decline. Investors bought 19% fewer homes in Miami, 13% fewer in Orlando and 12% fewer in Fort Lauderdale compared to the same period last year. [Source: Gulfshore Business]
Judge blocks Florida’s social media ban for kids while lawsuit continues
A federal judge has barred state officials from enforcing a Florida law that would ban social media accounts for young children while a legal challenge against the law plays out. U.S. District Judge Mark Walker issued the order Tuesday, blocking portions of the law from taking effect. The measure was one of the most restrictive bans in the U.S. on social media use by children when Gov. Ron DeSantis signed it into law in 2024. The law would ban social media accounts for children under 14 and require parental permission for their use by 14- and 15-year-olds. [Source: AP]
ALSO AROUND FLORIDA:
› Private equity giant buys ex-Miami Herald headquarters at discount for $26 million
The former headquarters office of the Miami Herald in Doral was sold for $25.9 million and is likely to be demolished. The property last traded for $29.9 million in August 2024, so it sold at a discount. It was developed in 1997 to serve as the headquarters of U.S. Southern Command. The Miami Herald moved into the building in 2013. However, the newspaper left the facility during the Covid-19 pandemic.
› Fake QR codes on Orlando parking meters are scamming drivers, OPD says
Drivers have been complaining about parking meters for generations. But now they’re really scamming you. Unknown suspects have been placing fake QR codes over real codes on parking meters across downtown, with about 200 fake codes having already been recovered by police, according to a Monday news release from the Orlando Police Department. The fake codes redirect users to a website where their personal information can be stolen.
› Three finalists in running for next Jacksonville Downtown Investment Authority CEO
Jacksonville City Council members dropped an attempt to give themselves the power to fire the next CEO of the Downtown Investment Authority after hearing concerns it would hurt the ongoing search to fill that position. Three finalists will be in Jacksonville for a series of interviews next week as the DIA board selects a successor for CEO Lori Boyer who is retiring after six years.
› Southwest Florida economy cools in Q1, but tourism, housing show stability
Southwest Florida’s economy showed signs of slowing in the first quarter of the year, Florida Gulf Coast University’s Regional Economic Research Institute found in its June 2025 report. Seasonally adjusted real taxable sales of $5.9 billion in the first two months of the year were off by 5%. The unemployment rate of 4.2% in March represented a 0.3% increase since December.
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› Why Disney is building affordable housing
Just 10 miles north of Disney World outside Orlando, Florida, the company is building affordable housing. A development is set to unfold on 80 acres in Horizon West, a massive master-planned community whose website boasts residents "can view nightly fireworks from [the] Magic Kingdom." The addition will include nearly 1,400 apartments, with 1,000 designated for households with incomes ranging between 50 to 100 percent of the area median income of $90,400.
› To lead the company’s next chapter, Kaseya has a new CEO
Kaseya, one of South Florida largest tech employers, has a new CEO, and she is Rania Succar. Most recently Succar was GM of Intuit Mailchimp, where she fueled revenue growth for small businesses by introducing advanced AI and SMS capabilities, expanding international reach and leading the platform’s integration into Intuit’s ecosystem.
› Jacksonville Surf Park investors buy eTown land for $21 million
Global developer Aventuur and its Northeast Florida group of investors announced June 2 they closed on the purchase of 45 acres in eTown for its first U.S. surf park intended to open in early 2028. A deed recorded June 3 with the Duval County Clerk of Court shows Aventuur Jax Propco LLC paid almost $21.1 million for the property June 2.
› Deepwatch in Tampa continues hiring spree with new C-level officers
Tampa-based managed security platform Deepwatch added two industry veterans to its leadership team at the end of May, naming Alex Page as chief revenue officer and Warren Dewar as chief financial officer. The executive hires are the latest in a string of leadership additions for the company, including Sammie Walker as chief marketing officer and Anand Ramanathan as chief product officer in January.