Data shows booming Florida economy despite inflationary headwinds

Data shows that despite lingering inflation, Florida’s economy is excelling. The latest data from the Florida Office of Economic and Demographic Research shows tax revenues are up and federal data reveals the Sunshine State had the nation’s 10th lowest unemployment rate. According to the FOED, Florida tax revenues in March showed a gain of $167.7 million (4.8 %) over the forecast made by the state’s General Revenue Estimating Conference. Sales tax revenues were up 1.7% ($49 million) over the estimate. [Source: The Center Square]

Business Beat - Week of May 12th

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

Opinion: Florida’s population is booming in some surprising ways

Florida’s population is booming — but not always in the ways and in the places where you might expect. Those surprises give us new ways to think about how to shape the Sunshine State’s growth. Through recessions and housing crises, pandemics and destructive hurricane seasons, the state’s appeal hasn’t let up. People keep coming. [Source: Tampa Bay Times]

New Florida laws ban COVID mandates, allow health care to be denied

With opposition to COVID-19 mandates a key part of his political brand, Gov. Ron DeSantis on Thursday signed a bill that includes issues such as barring businesses and government agencies from requiring people to take COVID-19 tests or wear masks to enter their facilities. DeSantis held a bill-signing event in Destin on the same day that a federal public-health emergency for COVID-19 was set to end. But DeSantis pointed to a need to address the potential of future government mandates. [Source: Tampa Bay Times]

Florida adds ‘classical’ test for students seeking Bright Futures

Florida high school students will have another college admissions test they can take to qualify for the state’s Bright Futures scholarship program, with the new Classic Learning Test now an option in addition to the ACT or SAT, whose scores have long been needed to secure the financial awards. Allowing the CLT to be used for Bright Futures, the state’s popular, 25-year-old scholarship program, dovetails with the DeSantis administration’s interest in “classical education,” often described as a traditional education based on “truth, beauty and goodness.” [Source: Orlando Sentinel]

ALSO AROUND FLORIDA:

› No more commission districts? Miami weighs options as it awaits gerrymandering ruling [Miami Herald]
Miami’s city government could consider eliminating commission district boundaries and radically changing the way voters elect their representatives in City Hall. Any changes could impact the November election, where voters will elect three commissioners to represent neighborhoods including Allapattah, Flagami, Coconut Grove, Brickell and downtown.

› Pensacola seeing economic impact while hosting NAIA Men’s Lacrosse Invitational [WKRG]
The NAIA Men’s Lacrosse Invitational is underway at the Ashton Brosnaham Athletic Park in Pensacola with games being held Wednesday through Saturday. The Pensacola Sports organization hosted the NAIA Men’s Lacrosse Invitational for the first time in 2022, which brought in about $1.2 million to the local economy.

› Flood insurance will double in Hillsborough, Pinellas [Tampa Bay Times]
In a state already being crushed by high insurance premiums, here’s more bad news: Floridians are going to be paying a lot more for flood insurance. Under new federal estimates released this week, Floridians will see their federal flood insurance premiums double, on average, in the coming years.

› Jacksonville is one of few major Florida cities without a first female mayor. Why? [Florida Times-Union]
Of all U.S. cities with over 30,000 people, only 26% had female mayors as of February. Nationwide, a record high number of women – 12 – are serving as governor at one time. Prior to this election cycle, no female candidate had even advanced to the mayoral election runoff or to a runoff in a regular election for any constitutional office in Jacksonville.

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› Transportation Tampa Bay regional transportation study faces year-end deadline [Tampa Bay Business Journal]
Hillsborough County elected officials and transportation leaders on Wednesday consented to a memorandum of understanding that seeks to create a regional metropolitan planning organization. The governmental body is tasked by federal and state law to prioritize projects through a Transportation Improvement Program. Hillsborough, Pinellas and Pasco counties currently have separate MPOs.

› Renovations could force Jaguars out of TIAA Bank Field for 2 years [Jacksonville Daily Record]
Mayor Lenny Curry said Wednesday in a radio interview that a potential stadium renovation could force the Jacksonville Jaguars out of TIAA Bank Field for up to two seasons while those changes are made. In an interview with 1010XL, Curry said that talks were already happening and legwork was being done on options as a stadium renovation looms.

› After 50 years, this beloved Cuban bakery in Miami just closed its doors [Miami Herald]
For the past five decades, anyone who passed the busy corner of Flagler Street and LeJeune Road in the morning has enjoyed the aroma of pastelitos de guava, croquetas and Cuban bread floating in the air. That’s where La Rosa Bakery was until it closed two weeks ago, after sending out an invitation to its customers to enjoy their favorite delicacies for the last time.

› Naples entrepreneur inks high-growth deals [Business Observer]
After acquiring a Naples-based Minuteman Press franchise in 2021 and then a related business soon after, David Ogden has seen a 300% year-over-year increase in revenue. Management of quality and customer expectations — rapid growth can be too much of a good thing, Ogden says.