Florida Trend | Florida's Business Authority

Thursday's Afternoon Update

Florida is holding nearly $3 billion of your property. Here’s how to claim your share

Florida has about $2.9 billion in outstanding unclaimed property —and it could be yours. And, no, this is not a tease for a lottery game. State treasury offices collect millions of dollars in unclaimed property. For whatever reason, people may not have cashed or collected payroll checks, received money from their tax returns, collected insurance proceeds or gathered the contents of safe deposit boxes and bank accounts before closing them. More from the Miami Herald.

Central Florida to feel 'turbulent' housing market recession, say economic forecasters

Bank of America economists issued a report Thursday cautioning against “potential turbulence ahead” for the 2024 national housing market, dismissing theories of another crash. Local real estate experts shared similar predictions for the future of the Central Florida market. The Orlando Regional Realtor Association, one of the largest local trade associations in Florida, published the data in its two most recent State of the Market Reports. More from WMFE.

Sarasota nonprofit desperately looks for warehouse space to house 20,000 Christmas toys

Marine Toys for Tots Sarasota is desperately looking for a safe warehouse to store more than 20,000 Christmas gifts that’ll be given to local families in need. The organization was told to vacate a 14,000-square-foot warehouse in the Sarasota Square Mall that’s set to be demolished. If the nonprofit does not find a place by Oct. 20, the group will be forced to transfer presents to other counties. More from the Sarasota Herald-Tribune.

Miami is set to get electric seaglider service to the Caribbean

Electric seagliders are coming to South Florida sooner than you might think, thanks to a just-announced deal with REGENT, the Boeing of seagliders, and regional electric aviation company Surf Air Mobility. The two companies are coming together to connect cities across Florida and beyond via seagliders: electric-powered vehicles that fly right above the water. While the exact routes are still being developed, those under consideration include flights between Miami, Fort Lauderdale and Palm Beach and the west coast of Florida – as well as those that connect South Florida with the Keys and the Bahamas. More from Refresh Miami and Simple Flying.

St. Petersburg Economic Development Corp. hires new CEO from Iowa

The St. Petersburg Economic Development Corp. has found its new leader. Mike Swesey, an executive vice president with the Greater Des Moines Partnership in Des Moines, Iowa, will sign on as president and CEO of the city’s public-private economic development group on Nov. 6. He replaces former CEO and founding president J.P. DuBuque, who left in April to become chief operating officer of a Tampa accounting firm. More from the Tampa Bay Times.

Best Companies to Work For in Florida
Farm Credit of Central Florida | No. 27 Best Medium Company
Farm Credit of Central Florida President and CEO Reggie Holt says the implementation of a hybrid work schedule has positively impacted the company's hiring and recruiting efforts. Find out if your company has what it takes to be the BEST in 2024!

» Register today at BestCompaniesFLA.com through Feb. 16, 2024!

Public Safety
Tornado guide for Floridians: What to do when you see a watch or warning

Florida has many tornadoes each year, data shows. This is a short guide for what to do whenever a tornado watch or warning is issued in your area. Here are some other tips to keep you safe before and after a tornado warning is issued.

» More from the Tampa Bay Times.


Development Trends
Out with the old

Developer Edgardo Defortuna is among those who attempt complex bulk buyouts of old condos to score prime sites for future towers, such as this site where he will build the future The St. Regis Residences. Of course, not all owners want to move. Many residents of aging condos are older adults who don’t want to be uprooted, and that may present a challenge to a developer seeking a 100% buy-in by the unit owners.

» Read more from Florida Trend.