Florida jobless claims continue to decrease

Slightly more than 5,000 Floridians filed unemployment claims last week, as claims numbers continue to slow, according to a U.S. Department of Labor report released Thursday. The department estimated that 5,096 initial claims were filed in Florida during the week that ended Feb. 18, down from a revised count of 5,887 during the week that ended Feb. 11. A rolling four-week average declined to 5,821. It was 5,936 a week ago. [Source: News Service of Florida]

Business Beat - Week of February 24th

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China provinces and Florida rank among the world’s most climate-vulnerable areas

After China, the U.S. has the most regions at risk of climate change, with Florida ranking tenth on the list, California nineteenth and Texas twentieth. Nearly half of all U.S. states are in the top 5% of those most at risk in the world. China, India and the U.S. collectively comprise more than half the states and provinces in the top global 100 regions, according to XDI. Other highly-developed and major economic hubs in the top 100 include Buenos Aires, Argentina; São Paulo, Brazil; Beijing, China; and Mumbai, India. [Source: CNBC]

Tort reform in Florida turns to auto insurance and loopholes

Bipartisan legislation filed ahead of the upcoming legislative session in Tallahassee will, if passed, change current state law that tort reform advocates say allows lawyers and repair shops to cash in on window replacements. Sen. Linda Stewart, D-Orlando, and Rep. Griff Griffitts, R-Panama City Beach, have filed bills in each chamber that closes so-called loopholes in the current law and will keep vendors from taking assignments of insurance policy benefits for auto glass claims. The senate bill would also prohibit glass companies from giving perks to customers to get them to file an insurance claim. [Source: Business Observer]

Emergency rule: Florida Citrus Commission lowers required sugar levels in fruit until May

The minimum sugar level standard for citrus fruits used in Florida orange juice was lowered for the rest of this year’s harvest during an emergency meeting this week at the Florida Department of Citrus. The temporary minimum rule is expected to relieve growers who suffered extensive crop damage during the 2022-23 season because of freezes, hurricanes and the ongoing battle with citrus greening as well as accommodating the many less-mature newly planted groves of citrus trees across Florida. [Source: Lakeland Ledger]

ALSO AROUND FLORIDA:

› Blockchain company and Ticketmaster competitor moves to St. Petersburg [Tampa Bay Times]
In a conference room at the Vinoy Renaissance St. Petersburg Resort Wednesday, guests stood as the speakers blast Taylor Swift’s “Shake It Off.” Then St. Petersburg Economic Development Corporation president J. P. DuBuque introduced the newest company to move to St. Petersburg: Relic Tickets, an event platform on the blockchain from Lakeland. Their goal? To solve the pain points that both customers and venues feel when using other ticketing platforms like Ticketmaster.

› New stores are opening in the Miami area — but is anyone shopping? [Miami Herald]
New stores are opening at major malls in South Florida. But are shoppers shopping? Seven new shops are coming to Dadeland Mall this year. And six new stores, with more on the way, are at Sawgrass Mills. That must mean the retail industry sees customers.  

› Central Florida Black business owners, farmers creating changes in food culture [WESH]
Soul food has been a staple of traditional African-American culture dating back to the 17th century. The tasty, hearty meals often lead to several health problems in the Black community. There are several people in Central Florida hoping to change the food culture, while preserving its soul, by preparing our favorite meals in a healthier way.

› Orioles' economic impact in the state of Florida tops $600 million since 2015 [MLB]
Sarasota County Government’s annual economic report has found that the Orioles have generated $600.5 million in economic impact for the state of Florida since 2015, the first year that comprehensive data became available. The county’s analysis measures the total impact created by the Orioles’ year-round operations in Sarasota, highlighted by the team’s Spring Training efforts, a state-of-the-art minor league training facility, and numerous corporate events at Ed Smith Stadium and the Buck O'Neil Baseball Complex.

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› This Florida company was accused of scamming homeowners. New legislation could help. [Tampa Bay Times]
New statewide legislation could help crack down on a Florida real estate company accused of using deceptive business practices to swindle thousands of homeowners. Florida state Sen. Jennifer Bradley, R-Fleming Island, and Florida state Rep. Will Robinson, R-Bradenton, introduced two identical bills on Wednesday aimed at protecting Floridians against predatory real estate listing agreements.

› Miami Beach approves a partial 2 a.m. alcohol ban. It puts a major nightclub at risk [Miami Herald]
Miami Beach officials approved a change to the city’s liquor sale hours in the South of Fifth neighborhood Wednesday, a move aimed at ending the party earlier at one of the premier nightclubs in South Beach. Last call for alcohol would shift from 5 a.m. to 2 a.m. in the southernmost part of the city, including at Story, a 27,000-square-foot, neon-lit club on Collins Avenue opened a decade ago by entrepreneur Dave Grutman. 

› Relativity Space targets March launch of 3D-printed Terran 1 rocket from Space Coast [Orlando Sentinel]
Relativity Space is targeting March 8 for its first launch attempt from Cape Canaveral Space Force Station. The company plans to live stream the liftoff on YouTube. Company co-founder and CEO Tim Ellis commented on his own account how seven years ago his mentor “told us we were absolutely crazy for trying to simultaneously invent a brand new manufacturing technology and an orbital rocket, which is already super hard. Now we are on the launch pad almost ready to go with the world’s first 3D-printed rocket.”

› Founder of Orlando engineering firm hoping to help bring diversity to construction industry [WESH]
Ardmore Roderick is one of the up-and-coming construction companies in the U.S. They've worked on projects like highways, water systems, office buildings, and ball fields. The president and founder is Rashod Johnson. His goal since the beginning has been to create a space for men and women who look like him, in the field of engineering.