Florida Trend Exclusive
Snapped up
A number of Florida banks are being acquired by large, powerful credit unions out of Michigan. Florida for decades has been a banking colony, with its local banks acquired by out-of-state institutions. What’s new is that now the acquirers are credit unions eyeing Florida’s population growth, seeing opportunities to move into commercial banking and wanting to follow their vacationing and retiring members. The Michigan twist owes to financial and regulatory history. The Michigan credit unions, many born at large industrial employers, have heft. [Source: Florida Trend]
Peak hurricane season approaches. How warm is the Gulf of Mexico?
Recent hurricane seasons have been defined by storms supercharging over the Gulf of Mexico’s warmer-than-normal waters as they barrel toward Florida’s west coast. Experts are hopeful that trend could wane this summer, though they still expect the season to be more active than typical. Researchers at Colorado State University have marginally decreased their season outlook, citing a return to normal water temperatures and high vertical wind shear that works to tear down hurricane strength. [Source: Tampa Bay Times]
Everglades project signed over to Florida by Army Corps of Engineers
Florida officials announced a deal on Friday that would allow the state to take over a U.S. Army Corps of Engineers project designed to enhance water quality and help restore the Everglades. The state will take over management of the Everglades Agricultural Area reservoir project, which is a 10,000 acre reservoir with an additional 6,500 acre stormwater treatment area capable of holding 78 billion gallons of water. [Source: The Center Square]
Florida’s disaster pipeline funnels millions to politically connected contractors
Florida law allows the governor to declare a 60-day emergency, and he has done that after hurricanes, tornadoes and floods and then awarded contracts to companies on a pre-approved vendor list — to repair roads and bridges, clean up debris, and provide food, medical care and temporary shelter to victims. DeSantis also has the power to renew those orders every 60 days as long as he deems an emergency exists. [Source: Orlando Sentinel]
Florida insurance litigation falls 25% in 2025
Personal insurance litigation in Florida fell by nearly 25% in the first half of 2025, compared with the same period last year, according to data from the Florida Office of Insurance Regulation (OIR), which pointed to recent legal reforms as a key factor behind the continued decline. The drop is part of a broader trend, with litigation rates decreasing 23% between 2023 and 2024. Since 2021, legal filings have declined by as much as 36%, with the smallest annual drop still reaching 15%, OIR said. [Source: Insurance Business Magazine]
ALSO AROUND FLORIDA:
› Lakeland-Winter Haven metro area makes list of top 10 'boomtowns' in US
Not as many people are flocking to Florida compared to the population surges the state saw during the pandemic. But the Sunshine State continues to grow. A new study of America's Biggest Boomtowns by loan marketplace LendingTree found eight of the 10 fastest-growing metro areas in the United States were in the South, and five of them are in Florida ― three along the I-4 corridor.
› Some Broward cities consider starting charter schools. Here’s why.
As the Broward school district looks to downsize and find new uses for low-enrolled campuses, some local city leaders are pondering whether to get into the business of running schools. The city of Parkland is conducting a feasibility study on the possibility of opening charter schools or converting existing district-run schools into charter schools. A city commissioner in nearby Margate is voicing similar interest in his city. If cities followed through, they would join Pembroke Pines and Coral Springs as operators of charter schools.
› Potential new Rays owner reportedly prefers a Tampa stadium. Where could it go?
Lost in reports this week that Jacksonville developer Patrick Zalupski has agreed to pay $1.7 billion for the Tampa Bay Rays is an extraordinary premise. Zalupski is paying more than eight times what the previous owner paid for the club despite not knowing where the Rays will play home games. The only specific detail leaked on a stadium’s location is the county. Zalupski’s team of investors reportedly prefers Hillsborough.
› Northeast Florida unemployment jumps to post-pandemic high
Jacksonville’s unemployment rate jumped in June to its highest level since the coronavirus pandemic with continued slow job growth, the Florida Department of Commerce reported July 18. The jobless rate in the Jacksonville metropolitan area of Baker, Clay, Duval, Nassau and St. Johns counties rose from 3.6% in May to 4.2% in June.
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› As Brevard mosquitoes take flight, this little fish helps fight back
Brevard County is under a mosquito-borne illness advisory after state health officials recently confirmed a human case of locally-acquired dengue fever. Coming to our aid is a common fish that's become one of nature's largest lines of defense against mosquito-borne illnesses, an environmentally-safer and cheaper alternative to chemical spraying. So Brevard County — once colloquially called Mosquito Coast — hatched its own plan back in 2019 to raise its own mosquitofish.
› Meat processing company seeks incentives for $28 million packing plant in Jacksonville
An international meat processing company is seeking city incentives to establish a plant in Northwest Jacksonville. The code-named Project Pan plans to invest $28 million to build-out a meat processing facility in a vacant refrigerated warehouse block building, the Office of Economic Development stated in a memo on the proposed incentive.
› Flowing water inspired new design of Orlando’s Camping World Stadium
While the practical goal of Orlando’s $400 million Camping World Stadium renovation is to increase the seating to 65,000, the expansion gives the city a chance to make an artistic statement in its downtown. DLR Group lead architect Ryan Freeland said he was inspired by moving water and palm fronds when he created metallic skin that would encircle the stadium. He told members of the city’s Appearance Review Board Thursday that the skin modernizes the stadium and will create a “lampshade” effect at night when illuminated by color-changing LED lights.
› 'In cheese we trust': Canada-based Meltwich coming to Gainesville near UF
"In cheese we trust!" That's the motto listed on the website for Toronto-based Meltwich, a Canadian restaurant chain that first opened in 2015. The restaurant is "coming soon" to Gainesville. It's one of 20 locations the chain hopes to open in the U.S. by the end of 2025. The restaurant specializes in grilled cheese and a variety of comfort foods. Its burgers are made with Certified Angus beef that is raised without antibiotics and is also Halal certified.