Florida state investments reached record highs in fiscal 2025
Florida officials say the state’s investments, which support its pension funds and local governments, hit a record high on its asset values in the recently-concluded fiscal year. This comes as lawmakers required the State Board of Administration to protect its investments from environmental, social, and corporate governance considerations and focus exclusively on its fiduciary duty to maximize returns for the state’s investments. More from the Center Square.
With CSX in merger spotlight, CEO says company focused on operations
With merger speculation swirling around the company, CSX Corp. Chief Executive Joe Hinrichs said he is focused on continued improved performance of the Jacksonville-based railroad company. CSX reported lower second-quarter revenue and earnings July 23, as weak freight trends continue to plague transportation companies. “The economy overall is a mixed bag,” Hinrichs said in a telephone interview after the earnings report. More from the Jacksonville Daily Record.
Miami-Dade cost of living rise exceeds US average
If you feel like the cost of living in South Florida is rising faster than in the rest of the nation, you’re right – even though the percentage of cost increases has fallen annually for three years. The cost of living in Miami, Broward and Palm Beach counties in June was up 3.1% from a year earlier, while for the nation as a whole the increase was just 2.7%, according to data that the US Bureau of Labor Statistics released last week. More from Miami Today.
Housing at-risk youth or saving shuffleboard? City of Leesburg may decide
The Leesburg City Commission has three plots of land and four interested groups. Now it faces one hard decision. The area of contention is the city-owned space called the Palmetto Street Complex, home to shuffleboard and tennis courts — both in need of repairs — and a vacant lot. The Leesburg Shuffleboard Club has maintained the Palmetto courts since 1985. Members came to the commission’s budget meeting July 10 to ask the city to resurface the aging facility — and learned their courts might get torn down instead of repaired. More from the Orlando Sentinel.
Boca Raton spent $70,000 on Times Square advertisement to lure New York businesses
Boca Raton is making an appeal to New York City-based businesses and residents: Declare independence from congestion, high taxes and cold winters by relocating to one of South Florida’s wealthiest cities. The marketing effort includes Mayor Scott Singer appearing on several local and national news outlets within the last two months, a new “NYtoBoca” webpage and city officials paying $70,000 for a Boca Raton advertisement to flash in Times Square for 82 days. More from the South Florida Sun-Sentinel.
Out of the Box
Prehistoric find: Utilities crew unearths giant ground sloth fossil in Manatee County
A Manatee County utilities crew was digging a trench recently when it unearthed something unexpected: a fossilized giant ground sloth claw that had been buried in more than 11,000 years ago. According to the county, the fossil dates back to a time when giant sloths were a part of a mass migration that took place after the ice age along a landmass that merged the North and South American continents around the Panama Canal.
» More from the Sarasota Herald-Tribune.
Business Profile
$376M Longboat resort reflects on first year of success, storms
In reality, it’s a hard-and-fast fact when the largest resort on Longboat Key opened to the public. Aug. 16, 2024. Right there on the calendar. The lazy river, the lagoon, the hotel suites and restaurants, the beachfront Monkey Bar. All unveiled. But the way Winfred van Workum, the general manager of the St. Regis Longboat Key Resort and Residences says he sees it, that soon-to-conclude first year can at times seem far shorter, or much longer. And nothing like he expected.
» Read more from the Business Observer.