Florida's venture boom may be more 'perception' than reality
For years, the story around Florida's startup ecosystem has been one of momentum — more founders, more relocations, more headlines about capital migration. But at Embarc Collective's recent venture capital and growth equity summit, Orlando-based DeepWork Capital partner Ken Hall said the numbers tell a different story. "There's a perception that there is incredible momentum in the state from a capital perspective," he said, "and that is not true." [Source: Tampa Bay Business Journal]
E-Verify expansion clears first legislative hurdle
A bill forcing all Florida employers to use a federal verification tool to determine whether new hires are legally in the country passed its first hurdle Wednesday. HB 197, sponsored by Seminole Republican Rep. Berny Jacques, expands a 2023 law championed by Gov. Ron DeSantis to require all employers — not just public businesses and larger private ones — to use the online database, called E-Verify. This is Jacques’ second attempt to pass the expansion, and comes amid a national push by Republicans to increasingly crack down on illegal immigration. [Source: Florida Phoenix]
A congressional bill would ban offshore oil drilling off Florida for another seven years
A bill has been filed in Congress that would continue a ban on oil and gas drilling off the coasts of Florida, Georgia and South Carolina. The American Shores Protection Act would continue a measure signed by President Joe Biden in January that would ban new oil and gas drilling in federal waters off the coast of Florida. It was subsequently revoked during President Trump's first day in office. The move comes as reports are surfacing that the Trump administration plans to open whole areas of the Atlantic and Gulf Coasts to offshore drilling. But pressure from Florida politicians has reportedly exempted some areas from the state's Gulf coastline. [Source: WUSF]
FloridaCommerce: More than 2 dozen rural communities to get grants for business support
FloridaCommerce is distributing $1.5 million to 26 communities across the state to help develop technical assistance and increase competition among businesses, particularly in smaller towns. The money is coming from the Community Planning Technical Assistance (CPTA) and Competitive Florida Partnership programs. FloridaCommerce is the business development bureau for the state. [Source: Florida Politics]
Taxwatch: Florida Goodwill adds over 4,600 jobs, $1.5 billion in economic impact
Beyond its familiar retail presence, Goodwill functions as a major workforce development and barrier-removal partner. In 2024, Florida territories served 161,379 individuals, directly employed more than 11,000 people, and placed 4,694 individuals into jobs through community job placement programs—approximately one in every 27 new hires in Florida. These placements generated an estimated $146.37 million in additional annual personal income, while Goodwill’s recycling and salvage activities diverted 384.5 million pounds of materials from landfills. More from Florida TaxWatch and the Floridian.
ALSO AROUND FLORIDA:
› City of Jacksonville creates coalition to lessen impact of SNAP benefit losses
The city of Jacksonville is working with local hunger assistance organizations to care for residents who have seen their Supplemental Nutrition Assistance Program benefits cut during the federal government shutdown. The Duval Care Coalition, which the city introduced during a Nov. 5 media event, comprises dozens of local faith-based organizations, nonprofits and food banks that are experiencing increased demand for their services with SNAP benefits slashed for an estimated 160,000 Jacksonville residents.
› Frito-Lay eliminates 500 jobs as it closes Orlando plants
Food giant Frito-Lay — maker of the popular snacks Cheetos, Doritos and Lay’s potato chips — announced Tuesday it will shutter two of its manufacturing and warehouse facilities in Orlando, eliminating 500 jobs. In a letter to the state’s Department of Commerce, the company said it planned to terminate 454 positions this week at its facility off Silver Star Road.
› Defense contractor moving HQ to Tampa and investing $20M in region
Colorado-based defense contractor Orion Edge is moving its corporate headquarters to Tampa, bringing 20 high-wage jobs and $20 million in new investment to Hillsborough County. The company develops tactical electronic warfare systems that help U.S. forces disrupt enemy communications and drone navigation networks across air, land and sea.
› ‘We blew this’: Broward School Board terminates $2.6 million office rental lease
Broward School Board members decided Tuesday to terminate a $2.6 million office rental lease that turned into an expensive public relations blunder. School Board members said Tuesday they made a bad decision — and got bad information from district staff — when they approved a five-year lease agreement on June 17 with Handy, or Helping Advance and Nurture the Development of Youth. The rental property was intended to serve facilities staff who had been working in an old district office complex that was sold.
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› Crisis Center of Tampa Bay sees increase in need amid government shutdown
Roughly 155,000 federal workers in Florida are feeling the impact of either being furloughed or working without pay. The stress and strain could compound for many with the holidays also fast approaching. The ripple effects extend far beyond paychecks. Economists estimate Florida’s economy is losing nearly $1 billion a week as key programs from small business loans to WIC and social security payments face delays.
› CEO Linzee Ott leaves Build Up Downtown
Build Up Downtown, the nonprofit that advocates for development in Jacksonville’s urban core, announced Nov. 4 that CEO Linzee Ott left the organization and that it will take “a strategic breath” to assess its future. Build Up Downtown said Ott left the organization Oct. 31, about 16 months after she was appointed to the job in June 2024. The nonprofit said its board will oversee the organization’s ongoing operations while assessing its future staffing and programming needs.
› Jabil to pay $750M for energy management company
Jabil Inc., the St. Petersburg technology titan, has agreed to buy a Northern Virginia energy company that services data centers. In a note to investors Tuesday, Jabil says it agreed to pay $750 million for Hanley Energy Group in an all-cash transaction. The deal also includes a “contingent consideration up to $58 million, subject to achieving future revenue thresholds.”
› Biotech company purchases land in Boca Raton for future headquarters
BioStem Technologies is moving its headquarters to Boca Raton after the city agreed to award $300,000 in economic incentives to the biotechnology company. BioStem purchased a 4-acre parcel of land within the Research Park at Florida Atlantic University for its administrative offices, manufacturing and distribution facilities.