Lawmakers to leave state out of federal tax breaks
On Wednesday, Florida lawmakers moved forward with a tax cut bill that doesn’t apply the new federal changes to the state’s corporate income tax. The GOP-led Legislature often links the state’s corporate tax code with changes in the federal tax code each year in what is colloquially known as the “piggyback” bill. Instead, lawmakers will “decouple” from the federal tax law. State economists projected the “piggyback” bill could cost the state up to $3.5 billion in revenue next year, and with the state estimated to run shortfalls of up to $7 billion in future years, legislative leaders are looking to limit spending, not add billions of dollars in tax cuts. [Source: News Service of Florida]
Florida Trend Exclusive
Innovating to greatness
A pediatric cardiologist brings groundbreaking heart treatment to Nicklaus Children’s Hospital’s premature babies. Dr. Shyam Sathanandam had offers from other children’s hospitals. But he chose Nicklaus because the idea of building a top-tier program was more attractive than maintaining something already there. [Source: Florida Trend]
As electric rates soar in Florida, here's how they compare nationally
Floridians currently pay the ninth-highest electric bills in the nation, according to a new national ranking. That's because even though Florida has the nation's 28th highest electric rates, residents currently rank fourth for electricity consumption, with households using an average of 1,166 kilowatt hours per month, compared to the national average of 875. More from the Tallahassee Democrat and the Daytona Beach News Journal.
As data centers expand across Florida, are there better alternatives?
Data centers consume massive amounts of energy and water, and experts say they generate a low, constant hum. Tech giants like Microsoft and others are experimenting with unconventional alternatives, trying everything from subsea centers to mountaintop facilities in search of a more efficient solution. But those alternatives come with their own environmental concerns. [Source: WFLX]
Florida drought is the worst in 25 years
Florida is suffering its worst drought in at least 25 years, and with only little short-term relief expected, the state could experience a spring of wildfires, stressed crops and water shortages through the rest of the dry season. The latest Drought Monitor analysis from NOAA and the National Drought Mitigation Center below shows virtually the entire state of Florida in at least some degree of drought. But about two-thirds of the state is classified as in "extreme" drought. [Source: The Weather Channel]
ALSO AROUND FLORIDA:
› The $1.7 billion question: What does FSU Health hospital deal mean for patients?
A reengineered FSU Health that aims to replicate the success of UF Health is a step closer to reality. Ever since City of Tallahassee leaders first raised the specter of selling the community hospital early last year, there's been complexity and controversy. But for many capital city patients the issue revolves around a single issue: Will I have to travel hundreds of miles to see a specialist?
› ‘People would go bananas’: Fort Lauderdale not a fan of latest Live Local bills
Florida lawmakers, in their zeal to boost affordable housing to accommodate the state’s surging population, have come up with a one-size-fits-all approach that will have dire consequences for crowded urban areas like Fort Lauderdale, critics say. The fallout from the Live Local Act could get even worse if two new bills currently under consideration become law, Fort Lauderdale observers claim.
› Jacksonville company ranks among top 10 richest companies in Florida
Florida is home to more than 20 Fortune 500 companies, including one based in Jacksonville that ranks among the richest in the state. CSX — with its headquarters on the north bank of the St. Johns River in downtown Jacksonville — stands as Florida’s fourth-richest company, with a market value of $78 billion on Feb. 20, according to recent data. A major freight railroad company, CSX operates about 20,000 route miles across much of the eastern United States.
› MarineMax, Donerail Group responds to public outcry over leadership concerns
Weeks after a California hedge fund made an unsolicited offer to buy the company for $1.1 billion cash, MarineMax has been thrust into a public sparring match with both its potential buyer and shareholders urging the company to accept the deal. Donerail is one of the largest shareholders in the Clearwater-born superyacht service, owning just over 4% of the company.
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› Is this Florida’s hardest-working city? New report says yes
A new report by WalletHub on Tuesday details the hardest-working cities in America. And one city in particular took the top spot for Florida. The study examines over 100 of America’s largest cities. While the Sunshine State didn’t crack the top 10, the ranking did reveal that Florida’s hardest-working city is Tampa, all the way up at No. 28.
› FRLA culinary competition among high schoolers draws about 330 students to Orlando event
Future chefs and hospitality professionals from about 40 Florida high schools took part in a culinary competition that ended with more than $2.1 million in scholarships being awarded. More than 330 students took part in the Florida Restaurant and Lodging Association (FRLA) Educational Foundation ProStart Culinary Team Competition in Orlando last weekend.
› Jaguars to play two London games in 2026 as stadium renovations begin
The Jacksonville Jaguars will pull double duty in London in 2026. Amid a major stadium renovation project dubbed the "Stadium of the Future," the Jacksonville Jaguars will host two home games in London during the 2026 season, the NFL announced on Wednesday morning, coinciding with various news surrounding the league’s international games in the coming season.
› Vote may shorten term of Miami mayor by a year
As Miami voters head to the polls this summer, they could shorten Mayor Eileen Higgins’ current term as part of a push to align city elections with statewide and countywide ballots, boosting turnout and cutting election costs. On Feb. 26, the Miami City Commission is set to vote on a resolution directing the city attorney to draft a charter amendment for the Aug. 18 special election.