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Florida's 350 largest publicly traded and privately held companies generated $1.12 trillion in revenue globally and employed, worldwide, nearly 2.7 million people. Check out Florida's biggest 125 public and 225 private companies, ranked by revenue. [Source: Florida Trend]
Business Beat - Week of August 1st
Get top news-to-know with Florida Trend's headline-focused video newsbrief, hosted by digital content specialist Aimée Alexander.
Florida minimum wage is going up another dollar
Florida’s minimum wage is going up another dollar in September. The state will increase the minimum wage to $14 an hour, per the constitutional amendment that voters passed in 2020. According to the law, the minimum wage will be raised by $1 each year until it reaches $15 — which is expected in 2026. [Source: WLRN]
Teacher vacancies down 17%, Department of Education says
Teacher vacancies in Florida’s public schools are down 17.7% headed into the 2025-2026 school year, according to the Department of Education. The department did not provide additional data or information in its news release announcing the stat, nor did it respond to a request for additional information. Combining this year’s calculation with last year’s, vacancies are down nearly 30% over the last two years, according to the department. Two years ago, the department reported 4,776 vacancies statewide. [Source: Florida Phoenix]
Report reveals Florida as 2nd most financially distressed state in the country
A new report from WalletHub reveals Florida is facing a serious issue with credit card debt. That report shows the Sunshine State now ranks as the second most financially distressed state in the country. Chris Lupo with Wallethub said several factors go into that ranking, one of which is credit card debt. “People are relying more on their credit cards for everyday expenses, not realizing the average interest rate on a credit card is 22 to 23 percent,” Lupo said. [Source: WFTS]
ALSO AROUND FLORIDA:
› Florida court orders insurers to recalculate workers' comp benefits
A Florida court just drew a clear line for insurers: when it comes to workers’ comp for occupational diseases, it’s the last job exposure - not the date of diagnosis - that counts. On July 30, 2025, the First District Court of Appeal in Florida issued a decision that’s set to impact how insurance professionals handle workers’ compensation claims for public employees under the state’s “heart-lung statute.”
› CSX, FSCJ launching Hazardous Materials Training Institute
Railroad company CSX and Florida State College at Jacksonville are partnering to create the CSX Hazardous Materials Training Institute near the college’s South Jacksonville campus. Online research finds that the institute will focus on training first responders to handle rail-related hazardous materials emergencies.
› How Tampa price growth measures up with national inflation
In the Tampa-St.Petersburg-Clearwater metro area, inflation is only slightly cooler than the national rate. Prices grew 2.6% over 12 months ending in May, according to the latest data available for the metro area. Year over year, residents saw the most price growth in food, housing and medical costs. Prices dipped for energy and transportation expenses, according to the data. In June, unemployment for the metro area was at 3.8%, below the national rate.
› Pensacola Housing Director resigns from city, fifth resignation in the last year
Pensacola Interim Housing Director Meredith Reeves has resigned from the city to take a job with another local government out of state. Reeves's departure is the fifth senior-level city official to resign from the city in the last year. Reeves, who is Pensacola Mayor D.C. Reeves' cousin, was hired at the city under Pensacola Mayor Grover Robinson in 2021 as an assistant housing director.
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› Sarasota proposes first property tax rate hike since 2017 after storms reduced reserves
Sarasota is facing its first property tax rate hike in eight years as city leaders look for ways to replenish reserves. During budget workshops this week, interim city manager Dave Bullock recommended the small increase to boost Sarasota's savings, which, since last summer have been cut about in half.
› New all-halal food hall planned near Disney Springs
A local entrepreneur and restaurant owner is looking to open a unique restaurant concept — an all-halal food hall — a short drive north of Disney Springs. Halal food, which uses ingredients that are permitted for consumption according to Islamic law, incorporates a variety of meats such as beef, lamb, chicken, goat meat, and most seafood. Most notably, pork and alcohol are not considered halal.
› Miami election date change was unconstitutional, appellate court rules
The city of Miami’s decision to postpone the scheduled November 2025 election to 2026 without voter approval was unconstitutional, Florida’s Third District Court of Appeal has ruled, siding with a lower court. On Thursday, the appellate court handed down its ruling in the lawsuit filed by mayoral candidate Emilio González, who sued last month after the Miami City Commission voted 3-2 to postpone the election to 2026 via ordinance, rather than through a ballot referendum.
› Group considering Hard Rock Hotel for downtown Jacksonville
Global hotelier Hard Rock Hotels might come to downtown Jacksonville on a riverfront site that's stood vacant since demolition tore down the half-built Berkman II apartment tower. The Hard Rock Hotel would be just up the St. Johns River from the Four Seasons Hotel and Residences Jacksonville that Jaguars owner Shad Khan is building and a short walk from the Hyatt Regency Jacksonville Riverfront hotel.