Insurance premiums emerge as frontline driver of Florida foreclosures
Property insurance costs in Florida have moved from a household-budget concern to a frontline cause of homeowners losing their homes, with the state now leading the country in foreclosure filings as premiums, mortgage payments and post-pandemic relief withdrawals collide. The wind-down of COVID-19 mortgage relief programs, persistent inflation, slower job growth and a market tilted toward sellers are also weighing on borrowers. [Source: Insurance Business Magazine]
Offers made: A look at some of the Legislature’s Day One budget talks
State budget negotiations began in earnest Tuesday, with the House making spending offers to the Senate on tourism and economic development, health care, and education in hopes of passing a compromise by the end of the month. The Florida House in its first budget offer during the budget special session is standing by its earlier refusal to fund the Florida State Guard, a former centerpiece of the Gov. Ron DeSantis administration. The Senate, meanwhile, is asking for more than $28 million to fund that ostensibly civilian force. [Source: Florida Phoenix]
How Florida-based Spirit Airline’s collapse changed the economy — and lives
The death of Spirit happened more than a week ago, but the effects are just starting to take shape for workers and travelers. Customers lost tickets and frequent flier miles while thousands of Spirit employees lost their jobs and benefits. That means less consumer spending in the neighborhoods and cities where the former employees live, according to legal, economics and bankruptcy experts. [Source: Tampa Bay Times]
Florida expands red snapper seasons on both coasts. Dates, catch limits
Florida will take over management of the recreational Atlantic red snapper fishery, expanding the season. Florida's approved Exempted Fishing Permit (EFP) allows the state to kick off a 39-day Atlantic red snapper season this year, compared to the two-day federal limit in 2025. The Gulf season will also be expanded to a record-breaking 140 days. Conservation groups have criticized the change, warning it may lead to overfishing. [Source: Florida Times-Union]
Will the World Cup bring its promised big payoff for South Florida?
South Florida is no stranger to big multinational sporting events. Hard Rock Stadium hosts F1 and the Miami Open tennis tournament. Miami is tied for hosting the most Super Bowls with 11. Hundreds of millions of dollars have been spent attracting and keeping these big sporting events here. But kicking off in just a month is the biggest sporting event South Florida has ever hosted: the 2026 FIFA World Cup. It comes with a price tag to match — for fans and local governments. [Source: WLRN]
ALSO AROUND FLORIDA:
› Tampa, Hillsborough County break monthly tourism records
Tourism revenue in Tampa and Hillsborough County set an all-time record in March, according to tourism agency Visit Tampa Bay. In a press release, the agency reports that both taxable hotel revenue and bed tax collections set new records for the month as hotel stays in Hillsborough County produced $134.48 million in taxable revenue while generating $8.06 million in Tourism Development Taxes.
› Big tech is coming to Palm Coast — not everyone is on board
Early next year, Google will link a small city in Northeast Florida to Europe. If all goes to plan, the tech giant will submerge a massive fiber-optic cable under the waves off Flagler Beach. From there, it will snake roughly 5,000 miles across the Atlantic Ocean to Santander, Spain. The project is part of Google’s multibillion-dollar effort to meet growing demand for its cloud and artificial intelligence services.
› Indian River Lagoon seagrass is growing back
Seagrass, the foundation of the Indian River Lagoon food web, has more than doubled in acreage in just four years. That inspired congratulatory gestures Tuesday from regional water managers. Algae blooms have all but wiped out the lagoon's seagrass over the past 20 years. During that time, there have been periods when the seagrass seemed to be rebounding, only to die off again. This time will be different, some lagoon scientists assert.
› Survey shows First Coast manufacturing industry expanded in April
The Northeast Florida manufacturing industry showed modest signs of expansion in April. The University of North Florida Jacksonville Economic Monitoring Survey (JEMS) measures 12 areas of manufacturing. Seven of those showed signs of expansion in April, despite rising economic tensions related to the war with Iran. Albert Loh, who oversees the JEMS report, said the overall Purchase Managers Index (PMI) held its own for North Florida firms last month, though there is room for improvement.
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› AdventHealth to build first hospital in The Villages as part of massive mixed-use project
AdventHealth will build its first hospital in The Villages as part of a major mixed-use development planned along Florida’s Turnpike. The Altamonte Springs-based health system will develop an 80-bed hospital on 25 acres within the 700-acre Legacy Place project, a joint development by The Villages and Bradenton-based Benderson Development that will serve as a southern gateway to the community. The broader project is expected to include more than 3 million square feet of retail, residential and commercial space near County Road 470 and Central Parkway.
› From the Sahara to South Beach, Booksy’s founder turned endurance into a billion-booking business
There are easier ways to start a company than signing up for one of the hardest foot races on Earth. But easy has never seemed to be Stefan Batory’s thing. Long before he built Booksy into the largest booking platform in beauty, wellness, and health, powering hundreds of millions of appointments each year with a team of more than 1,000 people, Batory was simply trying to lose weight.
› Home prices dip in Northeast Florida, while building permits rise
Pending home sales in Northeast Florida decreased by nearly one-third in April compared with March, while prices also dipped, according to data collected by the Northeast Florida Association of Realtors. NEFAR listed 1,356 pending sales in April in the six-county region of Baker, Clay, Duval, Nassau, Putnam and St. Johns, down 31.7% from 1,985 in March.
› Sarasota waterfront business open for decades forced to move
A longtime Sarasota business says it has found a way to survive after being forced from its waterfront home by a planned county park project. The owners of Siesta Key Watersports have worked out a plan to keep most of their business going, once it moves from Boatyard Village in the 1500 block of Stickney Point Road to its new home at 5253 S. Tamiami Trail — located just north of Phillippi Creek Oyster Bar on Phillippi Creek.