State could face tighter budget after pandemic aid
Economist Amy Baker, coordinator of the Legislature’s Office of Economic & Demographic Research, outlined the long-term financial outlook during a meeting of the Joint Legislative Budget Commission, which is made up of House and Senate members. While there are numerous caveats, the picture could go from a $2.09 billion surplus during the upcoming 2025-2026 fiscal year to a potential deficit of $2.826 billion in the 2026-2027 fiscal year and a potential deficit of $6.941 billion in the 2027-2028 fiscal year. [Source: News Service of Florida]
Florida's water supply is at high risk of experiencing shortages for next year
The water resources of Florida are strained by the state's rapid growth and development, which could lead to potential shortages in the near future, as early as next year, according to Florida Taxwatch. The Florida Office of Economic and Demographic Research, EDR, estimated that Florida will need to allocate at least $1.7 billion for critical infrastructure projects through 2040 to avoid a significant water supply shortage. [Source: Latin Times]
Florida industries where women make more than men have some surprises
While the gender wage gap is a commonly acknowledged and discussed issue, a new report from Osum, an AI-driven market research company, holds some surprising data about industries where women business owners take the lead over men in earnings. In general, the most popular businesses for women in Florida are real estate, home services (such as cleaning) and beauty salons, the report found. [Source: Business Observer]
Florida airports prepare to impose landing fees
Airports located in one of the nation’s busiest flight training corridors are preparing to impose more fees that will, if implemented, have serious consequences on flight training, flight schools, and local pilots, according to officials with the Aircraft Owners and Pilots Association (AOPA). [Source: General Aviation News]
This small town in Florida ranks No. 1 in the nation for retirement. Why it’s special
A Florida beach town is “simply charming” — and has been named an ideal place to retire, a new report finds. Stuart ranks No. 1 on a list of the nation’s best small towns for retirees. “Stuart is a place you stumble upon,” Travel + Leisure magazine wrote in its Sept. 5 report. “It’s not always up there in the most searched for spots in Florida, but really, that’s part of its magic.” [Source: Miami Herald]
ALSO AROUND FLORIDA:
› Publix pays $223 million for seven Florida shopping centers
The Lakeland grocery giant paid a combined $223.85 million for the properties. According to JLL Capital Markets, which announced the sale and represented seller PGIM Real Estate, the portfolio totals 608,314 square feet and is 97% occupied. The properties are spread out across the state.
› South Florida office owners lure companies with luxury amenities
Ask real estate insiders what the most challenged sector is now, and most would say office due to the advent of remote and hybrid work schedules. But that hasn’t kept some investors from going all in and funding pricey upgrades for office buildings to lure tenants willing to pay top-dollar rents. The strategy has already proven successful in some South Florida buildings.
› Sarasota's Mote Lab deploys sensor in Florida Keys to learn more about ocean acidification
A special sensor deployed by Mote Marine Laboratory & Aquarium will help coral scientists better evaluate ocean acidification and develop strategies to protect Florida’s coral reefs. The SeapHOx sensor, which monitors pH and dissolved oxygen – parameters measured to evaluate ocean acidification – was placed in the Looe Key Sanctuary Preservation Area in the Florida Keys in June.
› Uneven wage growth across industries plagues Central Florida workers
Several Central Florida leaders agree that wage growth should be a topic of discussion among the business community — but they also agree the issue isn’t that simple. Wage growth — or a lack thereof — was one of the top three issues hundreds of Orlando Business Journal readers said is an area of concern related to the region’s growth potential. The other two topics were transportation and housing.
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› Hard Rock Bet named official sportsbook of Jacksonville Jaguars
Jacksonville Jaguars fans looking wager on the team’s performance can now legally take their chances this season and get perks at EverBank Stadium. The NFL team and Hard Rock Digital announced Sept. 6 that Hard Rock Bet is the official sportsbook of the Jaguars.
› Visitors down, lodging spending up in Sarasota County in July
Tourism data for Sarasota County shows some slight dips in July compared with the previous year, while one indicator — average room rate — was up nearly 3%. There were 149,800 visitors to Sarasota County in July compared with 153,370 a year ago, according to Visit Sarasota County President and CEO Erin Duggan. That means visitation was down about 2.3%.
› The Villages has everything. And now it's getting its own specialty license plate.
The Villages has everything. And now it's getting its own specialty license plate. Portrait of C. A. BridgesC. A. Bridges Leesburg Daily Commercial It seems like The Villages has everything. And now, it even has its own license plate. Florida offers a wide selection of specialty plates you can buy to provide some personal expression to your ride and make some money for charities. There are currently 113 specialty license plates available in Florida with 30 more — including The Villages — in presales.
› Palm Beach Gardens company secures large grant to turn plants into jet fuel
A Palm Beach Gardens company developing sustainable jet fuel just received a boost from the U.S Department of Energy. Blue Biofuels was awarded a $1.15 million Phase 2 Small Business Innovation Research grant from the agency to fund the venture. The startup is behind a patented process that converts cellulose, a component found in plants, into sugars that are fermented into a bioethanol used for sustainable fuels.