Major Florida bill pushes for big tax changes statewide
A Florida bill aimed at expanding tax breaks for Florida residents got its first legs on Tuesday after being approved by a Senate committee. The bill (SPB 7034) includes a variety of different kinds of tax breaks, including sales taxes, property taxes, and even a credit for car registrations. While many Florida lawmakers and Gov. Ron DeSantis have pushed for major reductions to property taxes across the state, actual property tax cuts would require a Constitutional amendment. [Source: Click Orlando]
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Green banking
In 2021, Ken LaRoe founded Climate First Bank in Eustis as the world’s first FDIC-insured community bank made to combat the climate crisis. It boasts the fastest growth of any U.S. bank since 2009, establishing $900 million in assets in three years with an emphasis on non-governmental organizations and businesses dedicated to sustainability, and loan options for energy infrastructure, in addition to standard community banking services. [Source: Florida Trend]
25 years of Everglades restoration has improved drinking water for millions in Florida, but a new risk is rising
In South Florida, drinking water comes from the Everglades, a vast landscape of wetlands that has long filtered the water relied on by millions of people. But as the Everglades has shrunk over the past century, the region’s water supply and water quality have become increasingly threatened, including by harmful algal blooms fueled by agriculture runoff. Now, the water supply faces another rising challenge: saltwater intrusion. [Source: The Conversation]
Florida Trucking Association trying to hook more professionals into industry for work outside of driving
Trucking isn’t all about driving and the Florida Trucking Association (FTA) is launching a new campaign to get more people into the industry. The “Jobs Beyond the Wheel” campaign is gearing up as the FTA wants to expand access to a comprehensive workforce in the trucking world in Florida that involves many positions that aren’t all driving big rigs. The FTA acknowledges there is a “critical shortage of skilled workers” and is seeking to draw more professionals into trucking jobs. More from the Miami Times and Florida Politics.
Affiliate oversight 'failures' highlight need for structural reform in Florida
Florida’s insurance market remains in turmoil as investigations have exposed widespread self-dealing by insurers. One legal expert told Insurance Business that the state’s failure to properly audit and address affiliate transactions by insurance companies has led to Florida homeowners bearing the brunt of skyrocketing premiums. [Source: Insurance Business Magazine]
ALSO AROUND FLORIDA:
› This Florida city ranked 2nd best small U.S. city to start a business
Thinking of starting a new business soon? For those in Florida, especially those in the Southwest region of the state, you're in the best location to do so. Personal finance website WalletHub released its report of the best small cities for entrepreneurs to start a business, with dozens of Florida cities ranking high on the list.
› Universal’s new Epic Universe park set to generate $2 billion for Florida in year one
Epic things are coming to Orlando. In a little more than a month, Universal will officially open the doors of its newest theme park, the first major theme park in the Florida area in 25 years, spurring a major shift in Orlando’s tourism industry. Epic Universe is the largest of all Universal properties at 750 acres and features five themed worlds.
› Miami area startups raised $900M in Q1, Pitchbook report says
Startups in the Miami metro area got off to a strong start for venture capital in Q1, according to the Q1 Pitchbook-NVCA Venture Monitor report. Nationally, the Miami-Fort Lauderdale metro retained its position as a top 10 US VC hub. Let’s take a deeper look at local, state, and national trends.
› SRQ reports record-breaking March, sees most monthly passengers in airport history
March set a new record for passenger traffic at the Sarasota Bradenton International Airport. The most monthly passengers in SRQ history — 553,521 — traveled through the airport last month, according to a press release. The figure punctuates years of rapid growth for the airport, with an increase in flights and the opening of a new concourse bolstering its expansion.
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› Dolphins starve when seagrass dies off in Florida, study finds
Manatees are not the only marine mammals that suffer when seagrass dies off in Florida. A new study found that dolphins in the Indian River Lagoon starved when seagrass meadows declined as well. Researchers from the University of South Florida and the University of Central Florida analyzed tooth and tissue samples from stranded dolphins in the Lagoon over decades, from 1993 to 2013, and found that their diet shifted following algae blooms that killed off seagrass.
› Vee, a startup using AI for good, chooses Miami for its HQ
Israel’s ties with Miami run deep, and when it comes to startup expansion plans, the Magic City is increasingly a top contender. The latest startup to call Miami their new home is Vee, a venture-funded AI-powered platform for nonprofit organizations. Vee’s new headquarters in Wynwood’s Gateway building now holds 15 employees including the VP of sales, who relocated to Miami in September.
› St. Pete's Lonestar inks $120M deal with Sidus Space for lunar data storage satellites
A partnership between St. Petersburg-based space startup Lonestar Data Holdings and satellite manufacturer Sidus Space aims to bring secure data storage to the moon with a $120 million deal. A preliminary agreement that has moved forward includes designing, building and providing on-orbit support for six lunar spacecraft, a release said.
› Another 259 homes are proposed for the Agricultural Reserve. Some neighbors say that’s too many.
Some Palm Beach County residents are balking at yet another residential project proposed for the county’s Agricultural Reserve, not wanting a plan for 259 homes in West Boynton to move forward. The project, dubbed West Boynton Ranches, is being proposed for a plot of land directly south of Boynton Beach Boulevard and to the east of Lyons Road. Sixty-five of the homes would be considered workforce housing.