Revenue estimates up amid ‘uncertainty’
Florida economists Friday warned that “uncertainty exists” as they increased general-revenue projections that lawmakers will use in negotiating a new state budget. A panel of economists known as the Revenue Estimating Conference updated general-revenue projections, which were last issued in August, by about $1.3 billion for the current fiscal year and next year. But in an executive summary of its report, the panel pointed to “weaker” state and national economic variables and said the “forecasting environment is considerably less stable over the short run than it was in the summer. [Source: News Service of Florida]
Hurricane forecasts 2025: Here’s how the ‘cone of uncertainty’ maps will change this year
The “cone of uncertainty” map that the National Hurricane Center uses to communicate risk as storms form is getting some updates this year. The cone, which shows the probable path of the storm’s center in the coming five days, will be 3% to 5% narrower this year than last, and significantly narrower than it was 20 years ago. The narrowing of the cone does not mean storms have a smaller circumference, it means forecasts are becoming more accurate — there’s less path uncertainty, and thus less cone. [Source: Orlando Sentinel]
Federal court refuses to halt Florida’s 2024 social media law
A federal judge has rejected a request to block a 2024 Florida law aimed at keeping children off some social-media platforms, ruling that industry groups did not show they had legal standing to challenge the measure. Chief U.S. District Judge Mark Walker on Thursday issued a 13-page decision denying a motion for a preliminary injunction filed by the Computer & Communications Industry Association and NetChoice, whose members include tech giants such as Google and Meta Platforms. [Source: News Srvice of Florida]
Florida lawmakers scrutinize insurers over hidden profits, rising rates
Florida lawmakers are questioning whether property-insurance companies have funneled money to affiliates and shareholders while claiming financial struggles. A 2022 report examined 53 insurers and found that, while insurers reported a net loss of $432 million from 2017 to 2019, affiliated firms saw net income of $1.8 billion. Lawmakers were not given the report when passing insurance reforms in 2022. More from WOFL and WPLG.
Florida panthers face increasing peril from development
As the human population of Southwest Florida continues to grow, so do the perils that face the endangered Florida panther. To date in 2025, four panthers have been killed by vehicles, which are the leading cause of death for the animals, according to the Florida Fish and Wildlife Conservation Commission. Experts estimate the current Florida panther population at 120 to 230 total. [Source: Gulfshore Business]
ALSO AROUND FLORIDA:
› Winn-Dixie parent company ‘embarking on a transformational journey’
A month after a group led by Southeastern Grocers Inc. CEO Anthony Hucker bought the company and its supermarket brands Winn-Dixie and Harveys back from Aldi U.S., Hucker is giving few details about plans for the company. However, Hucker said the company is developing ways to improve its 170 stores and expand the business founded a century ago.
› Boca Raton’s 100th birthday: The city’s past, present and hopes for its future
Boca Raton is turning 100 this year, and city officials have put together ways to celebrate with the residents while reflecting on the city’s history. The city was officially incorporated in May 1925 when the population was about 5,000 and farming was a key highlight. The rustic community grew as a destination through the decades. In recent years, it has featured one of the region’s fastest-growing downtowns, sprouting more developments. The city’s population nowadays has reached about 100,000, according to the U.S. Census Bureau.
› Why big-league private equity struggles in ‘tight-knit’ Tampa Bay
New York private equity firm Bregal Sagemount has its sights set on around a dozen Tampa Bay companies as potential investment targets and between 50 and 60 companies in total throughout Florida. Up until five years ago, this region wasn’t on the firm’s radar. So far, it has invested in three local companies, but Co-founder and Managing Partner Gene Yoon said Tampa Bay has been a tough market to crack as a newcomer.
› A developer wants to remove wetlands in Orange County. Will it make Osceola flood?
Three years ago, as Hurricane Ian dropped nearly 18 inches of water on Central Florida, flooding from Shingle Creek left hundreds of Osceola County residents stranded. Now Orange County is considering a development that threatens to increase the flood risk. The Tuscana project would bring over 1,600 hotel rooms and 5,200 multi-family dwelling units to an area of agricultural-zoned land near Central Florida’s theme parks and close to parts of 20-mile long Shingle Creek, extending into sensitive wetlands that serve as the headwaters to the Everglades and run through Osceola County.
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› $3 million for a sinking ship? Bay County TDC wants SS United States sunk closer to its coast
The Bay County Tourist Development Council has come to the bargaining table on the fate of a historic cruise liner. The council unanimously agreed to offer $3 million to Okaloosa County to sink the SS United States closer to Panama City. Sinking the ship will create the world's largest artificial reef, and the TDC wants a slice of the visitors that will come to see it.
› FAA issues environmental take on SpaceX request for more launches, new landing pad
If SpaceX gets its way, the Space Coast will get a lot more rocket rumbles and sonic booms as the company increases Falcon 9 launches and builds out new landing pads at Cape Canaveral Space Force Station and Kennedy Space Center. The Federal Aviation Administration released Friday a 116-page draft environment assessment for the first of those targeting Canaveral’s Space Launch Complex 40, where SpaceX wants to increase launches from 50 to 120 per year.
› NovoPayment announces a new CEO and a returning CTO
NovoPayment, the Miami-based fintech that builds financial infrastructure across Latin America, has just announced that Rodrigo Rodas will step into the role of CEO. Rodas brings years of experience in fintech and private equity. He is a co-founder of Rewardsweb, a loyalty rewards platform; and a managing partner at investment firm IDC Ventures, which is a NovoPayment investor. He replaces Anabel Perez, NovoPayment co-founder and founding CEO.
› New $2.3 million plane observation area opens at SRQ Airport
Sarasota and Manatee residents now have an official front-row seat to the runway. The Sarasota Bradenton International Airport cut the ribbon on its new outdoor observation area where spectators can watch planes take off last Wednesday morning. The $2.3 million project was a joint venture between the Sarasota Manatee Airport Authority and Manatee County.