Floridians are saving less money, indicating possible economic slowdown

Savings rates by Florida residents may be returning to pre-pandemic levels, state economists say, just as the Federal Reserve plans to start shifting its focus from boosting the economy to dealing with inflation. The savings rate stood at a “below-normal” 7.5% in September, according to a report by the Legislature’s Office of Economic & Demographic Research released Wednesday. The rate was 7.9% during the 2018-2019 fiscal year. [Source: Orlando Sentinel]

Business Beat - Week of Novermber 5th

Get top news-to-know with Florida Trend's headline-focused video newsbrief, hosted by digital content specialist Aimée Alexander.

New vaccination requirements likely to fuel Florida debate

The Biden administration Thursday moved forward with COVID-19 vaccination requirements for employees of large businesses and health-care workers, adding fuel to a debate that will be on display in Florida during a special legislative session this month. The U.S. Department of Labor’s Occupational Safety and Health Administration and the federal Centers for Medicare & Medicaid Services issued rules that will fully take effect on Jan. 4. [Source: News Service of Florida]

Demand spikes for industrial space in South Florida

The growth of e-commerce and demands from a growing population is increasing rental rates for storage space throughout South Florida, according to real estate analysts affiliated with Colliers International. Steven Wasserman, executive VP at Colliers International, said the industrial space market is "booming" thanks to a convergence of market conditions that includes larger companies buying up smaller companies and bored people isolated by the Covid-19 pandemic redecorating their homes. [Source: South Florida Business Journal]

Publix groceries can now be delivered in 30 minutes through Instacart

Craving a Pub Sub but don’t want to wait in line? Instacart will deliver one in as fast as 30 minutes, the company announced Thursday. Publix Quick Picks is a new service from Instacart — the grocery delivery app — which serves as a virtual express lane. It allows shoppers to order Publix groceries, including pre-made foods, online or through the app with “Priority Delivery.” [Source: Tampa Bay Times]

ALSO AROUND FLORIDA:

› Stakeholders hope Tampa Bay will become a fintech ‘Silicon Valley’ [WTVT]
Make Florida the leader in blockchain and financial technology -- that's the aim of a two-day event that kicked off Thursday at Amalie Arena. It’s called the "Florida Bitcoin and Blockchain Summit," touted by organizers as the only fintech event with a focus on Florida. More than 500 people are expected to attend.

› Gainesville Regional Utilities eyes University of Florida power contract [Gainesville Sun]
Gainesville Regional Utilities wants to build a plant to supply most of the University of Florida's electricity, with the revenue helping to stabilize customers’ bills in the coming years. The university expects to save more than $16 million a year in energy costs from the new plant, a statement on the university’s website says. UF will be soliciting proposals from other energy provides as well as GRU.

› 'Log off. Sleep in.' Sarasota man pitches invention on popular show 'Shark Tank' [Sarasota Herald-Tribune]
Nobody loves early morning meetings, especially those where attendance is mandatory but active participation isn't. A college student fed up with the constant 7 a.m. virtual sessions came up with an interesting solution to sleep in yet still be present. Peter Solimine, a native of York, Maine who grew up in Sarasota, created the Beulr app. Beulr is a “bot” and online “auto-attender” that can sit in on virtual meetings, so you can catch up on sleep.

› Cecil Field lands $6 million from job growth fund [News Service of Florida]
Gov. Ron DeSantis on Thursday announced $6 million will go to completing nearly two miles of road, along with accompanying utilities, at Jacksonville’s Cecil Field Airport and Spaceport. DeSantis said the money from the state’s Job Growth Grant Fund will “help enable new companies to locate to the area.”

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› Tampa Convention Center expansion reroutes portion of Riverwalk [Tampa Bay Times]
Riverwalk strollers have probably noticed that the stretch of the popular recreational trail under construction and closed to pedestrian traffic behind the Tampa Convention Center. To get around it, you have to leave the waterside and wind around the east side of the Convention Center, disrupting the 2.6 mile outdoor pathway.

› Packaging giant begins building $96M facility in Naples   [Business Observer]
Construction is underway for a new $96 million distribution center for packaging giant Uline in Naples. Naples-based DeAngelis Diamond and Minneapolis-based Mortenson are the leading builders on the project, according to a statement. The new Uline Naples facility — near the Paradise Coast Sports Complex, just north of Interstate 75 — is planned as a 937,000-square-foot structural steel framework warehouse.

› Florida-Georgia game boosts Jacksonville hotels [Jacksonville Daily Record]
The annual Florida-Georgia college football game at TIAA Bank Field ended a historic week for Jacksonville hoteliers. Data from the STR hotel analytics firm provided by Visit Jacksonville shows record occupancy and revenue in Duval County from Oct. 29-30, the day before and of the game. Countywide occupancy was 73.7% for the week and 90% for Friday and Saturday.

› Day of the Dead restaurant is rising this winter at Florida Mall [Orlando Sentinel]
A Mexican restaurant with decor that celebrates the holiday of Día de los Muertos, or Day of the Dead, is coming to Orlando’s Florida Mall. Cantina Catrina is expected to open this winter in the mall at 8001 S. Orange Blossom Trail. It is expected to have 220 seats with a covered patio outside.