Jobless claims down in Florida
First-time jobless claims in Florida dipped for a second consecutive week, according to estimates from the U.S. Department of Labor. The department projected 5,375 initial unemployment applications were filed in Florida last week, down from a revised count of 5,659 for the week ending April 18 and 6,387 the week ending April 11. The pace remains on par with the average since the start of the year, which is now 5,754 first-time claims a week. Meanwhile, Florida’s jobless rate has slowly increased to 4.6 percent from 3.7 percent last July. [Source: News Service of Florida]
Business Beat - Week of May 1st
Get top news-to-know with Florida Trend's headline-focused video newsbrief, hosted by digital content specialist Aimée Alexander.
Column: Foreclosures, debt and bankruptcies. Florida’s economic warning signs
Florida’s economy is in an uncertain place. Several key indicators are flashing warning signs, and the trend lines are moving in the wrong direction. The numbers aren’t historically bad, not even close. But they aren’t great, either. Florida isn’t in crisis, but it’s clearly getting sicker. It might just shake it off and start feeling better, or it might end up bedridden. What’s increasingly clear is that the risks are rising, not falling. [Source: Tampa Bay Times]
Florida workers have pay raises on the line in upcoming budget Special Session
Florida’s Special Session beginning May 12 to reconcile the state budget will draw particular attention from state employees. The 18-day Session aims to hammer out a spending plan for the Fiscal Year 2026-2027, which begins July 1. While the House and Senate were unable to reconcile their spending plans during the Regular Session, pay raises for state workers are on the line in the upcoming Special Session. [Source: Florida Politics]
Why four Florida hyperscale data centers are running into opposition
Florida is considering plans for several large-scale data centers, adding to the more than 100 smaller ones already in the state. Proposals for new hyperscale data centers are facing significant opposition from residents and some state officials over concerns about energy and water consumption. Gov. Ron DeSantis has proposed legislation to regulate AI data centers, including restrictions on their location and utility costs. [Source: Panama City News Herald]
ALSO AROUND FLORIDA:
› New Florida law brings Israeli stem-cell innovator to state
A new state law allows companies making certain stem-cell treatments to offer their products in Florida under tight rules, before those therapies get approval from the US Food and Drug Administration (FDA). The aim: to speed relief to suffering patients. An Israeli biotech company is among the first to avail of the new law, partnering with an FDA-registered manufacturer in New Jersey and FDA-registered lab-distributor in South Florida to offer its innovative treatment.
› Charities may be on hook for donations from Orlando crypto firm accused in Ponzi scheme
Christopher Delgado, the Orlando businessman accused of running a massive Ponzi scheme, has generated headlines for allegedly using his investors’ money to buy a mansion, luxury cars and fancy watches. But another avenue of his spending has now come under scrutiny in court — his many donations to Central Florida charities.
› Bradenton Area EDC names CEO, president
Following a nationwide search, the Bradenton Area Economic Development Corp. has appointed Shirar O’Connor its next CEO and president. She will assume the role June 1. O’Connor has more than 30 years of experience in economic development, business attraction and foreign direct investment, according to a statement. She comes to the EDC from the Financial Times, where she served as director of professional development.
› Jacksonville keeps dishing out incentives — but will that change?
The Jacksonville City Council approved taxpayer-backed incentive packages for three real estate development projects Tuesday night totaling $3.53 million in cash and $12 million in tax breaks. The string of incentives packages Tuesday came as the council has been working to fund unbudgeted cash completion grant commitments that had built up to $74 million in 2023. That’s down to about $50 million today, according to council member Will Lahnen.
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› Employers turn to transit perks as South Florida commutes stretch across counties
Tri-Rail's employer discount program covers more than 450 companies with over 3,000 participating employees. South Florida developers increasingly incorporate transit access into projects near major stations. Academic research shows longer commute times correlate with lower job satisfaction among workers.
› Orlando plans $61M event venue near Camping World Stadium
The city of Orlando has set its sights on an event venue to complement Camping World Stadium. Orlando has put out a bid process for a design/build firm to create and construct a 140,000-square-foot facility on land adjacent to the city-owned stadium. The venue is part of the ongoing $400 million stadium upgrade expected to be completed in 2027.
› Naples sees rise in multigenerational home trends
The tides are shifting once again in relocations and multigenerational living in Naples, two topics that often influence one another. Pandemic-era migration models have reversed, with the hottest housing markets sitting above the Mason-Dixon line in the Midwest and Northeast. “I do find that we’re seeing a migration back north. I’m moving people back to Canada and Minnesota,” said Monique Carlone of EXP Realty.
› UF golf course proposal advances with unanimous county commission vote
The University of Florida’s proposed 36-hole championship golf course moved one step closer to becoming reality after the Alachua County Commission voted to allow state and regional agencies to review the land use for the 580-acre project. Concerns were raised by some residents regarding environmental impact and the necessity of a new course.