$5 billion first-year hit: Florida economists detail local revenue losses under proposed tax cuts

If Florida voters decide to slash their property tax bills in November, local governments will lose $12 billion annually in revenue by early next decade, according to an analysis by nonpartisan economists. Florida’s Revenue Estimating Conference, a panel of economists that studies the fiscal impacts of legislation, released its findings Friday, the first to come from analysts who stand apart from the political fray. More from the News Service of Florida and the Orlando Sentinel.

Florida Trend Exclusive
Historic transfer

After more than a year of negotiations, the Florida State University board of trustees has approved the purchase of all Tallahassee Memorial HealthCare assets. The $110-million deal transfers TMH, founded in 1946, to FSU Health — a major academic initiative designed to improve health services, research, education and clinical care in North Florida. FSU President Richard McCullough is the driving force behind the merger. [Source: Florida Trend]

After the freeze: what to expect from Florida’s mango season

For South Florida’s backyard gardeners and commercial fruit growers, summer is traditionally defined by one thing: mango season. But as trees across the region begin to drop their early fruit, residents are left wondering how heavily a historic winter freeze will impact this year's local harvest. Agricultural experts warn that a brutal cold snap earlier this year severely impacted local tropical groves, wiping out sensitive early blossoms on some of the most popular mango cultivars. [Source: Palm Beach Post]

Florida lawsuit accuses TikTok of ‘openly defying’ state law regarding minors

Florida’s Attorney General on Monday said the state is suing TikTok, accusing the social media company of violating state law, misleading parents and exposing children to harmful and addictive content. The civil complaint, filed Monday in St. Lucie County, seeks penalties, damages and court-ordered changes to TikTok’s platform. The lawsuit alleges the company has allowed underage users to create accounts and failed to meet requirements under Florida’s 2024 social media law. More from the South Florida Sun Sentinel and Click Orlando.

Florida’s preschool teacher shortage forces some to turn children away

Florida, like much of the country, has a shortage of preschool teachers. Preschools often operate on thin margins and cannot pay teachers much, making it hard to draw people into the profession. As a result, schools are turning families away, which interrupts children’s early learning, leaves parents without childcare and hurts schools’ bottom line, making it even harder to pay teachers more. [Source: Orlando Sentinel]

ALSO AROUND FLORIDA:

› CIA campus could reshape Jacksonville dining, top chefs say [Florida Times-Union]
As Jacksonville leaders weigh a proposal to bring one of the world’s premier culinary schools downtown, many local diners are already tasting the impact of its graduates. Classically trained chefs from the Culinary Institute of America — often called the “Harvard of the culinary world” — are leading kitchens across Northeast Florida, shaping menus that range from refined fine dining to inventive neighborhood fare.

› FPL parent company agrees to $150M to end lawsuit over past controversies [Orlando Sentinel]
Florida Power & Light’s parent company, NextEra, agreed to a $150 million proposed settlement that would close the book on a class-action lawsuit that accused the company’s leaders of making misleading statements several years ago while they navigated a series of high-profile controversies throughout Florida. It would be the largest settlement for a securities fraud lawsuit in decades in the Southern District of Florida, an attorney representing the lead plaintiffs told U.S. District Judge Aileen M. Cannon in court filings posted late Monday.

› Why global brands are choosing South Florida condos [South Florida Business Journal]
South Florida stands apart from nearly every other region in the United States for the sheer number of international brands entering its condo market. From foreign automakers to global fashion designers and hospitality groups, an expanding roster of brands now lend their names to condominium projects from Miami to West Palm Beach. For some of these high-end brands, it’s the first foray into the U.S. condo space.

› Initiative to spur business parks underway in Sarasota County [Business Observer]
Some small businesses in Sarasota County are finding it difficult to expand due to the lack of available, appropriately zoned space. The Economic Development Corp. of Sarasota County is working to spearhead an initiative to amend the county's business park zone district code to include more properties.

More stories ...

› How St. Petersburg kept recovery dollars local [Tampa Bay Business & Wealth]
St. Petersburg directed about $1.6 million in hurricane recovery spending to local truck owners through a debris-hauling program launched after Hurricanes Helene and Milton, creating work for more than 100 operators as the city worked to clear storm damage. The program, known as Hometown Haulers, paid local operators about $300 per load and completed 5,382 debris hauls, according to figures presented to the City Council last Thursday.

› Johnson & Johnson announces $1 billion investment in Jacksonville [Jacksonville Today]
Johnson & Johnson announced Monday that it will invest more than $1 billion in Jacksonville to strengthen its Vision operations. The New Jersey-based healthcare company said in a news release that it will scale its U.S.-based manufacturing, packaging and distribution capabilities as it builds a Jacksonville distribution center and invests in advanced manufacturing and packaging technologies to add capacity and meet demand for its ACUVUE-brand contact lenses.

› A Miami mall and two others in Florida have made a Top 10 list [Miami Herald]
Aventura Mall has been named the Best Mall in the United States in the 2026 USA Today Readers’ Choice Awards. The sprawling Northeast Miami-Dade shopping complex, the largest in Florida and fifth largest in the country, also won the inaugural Best Mall category in the 2025 readers’ choice survey. How big is Aventura Mall? Big enough that Brightline added a dedicated stop across the street, the rankings noted.

› New Cape Canaveral townhomes to offer rocket launch views [Florida Today]
A Miami-based homebuilder announced plans to build a 94-unit townhome community in Cape Canaveral due to Brevard County's booming aerospace and technology economy. EverHome Living announced plans for a three-story townhouse development off Astronaut Boulevard on the Banana River in Cape Canaveral.

AI could be driving healthcare costs higher