Tuesday’s Daily Pulse – Florida Trend
Hurricane Idalia forms, sets sights on Florida’s Gulf coast
Hurricane Idalia formed overnight and is likely to become a dangerous major hurricane before making landfall along Florida’s gulf coast, according to the National Hurricane Center. Much of Florida’s west coast is under a hurricane warning and a storm surge warning, the hurricane center said Tuesday in its 5 a.m. update. Idalia is expected to make landfall somewhere along the west coast or in the Big Bend region, but storm effects can reach far outside the forecast cone. More from the Tampa Bay Timesand the Tallahassee Democrat.
Construction, hospitality hiring remain strong in Florida
More than 20% of construction companies in Florida project an increase in their number of employees over the next six months, according to the most recent Business Trends and Outlook Survey from the U.S. Census Bureau. This is significantly higher than the national figure, where 14.2% of companies expect to add employees in the near future. [Source: South Florida Business Journal]
As Idalia nears, Florida officals warn of ‘potentially widespread’ gas contamination: What to know
Florida officials are warning drivers of potential fuel contamination at dozens of gas stations on the Gulf Coast as residents brace for the landfall later this week of Tropical Storm Idalia. The Florida Department of Agriculture and Consumer Services said late Sunday that gasoline purchased after 10 a.m. Saturday at some Citgo-supplied stations had a strong likelihood of being contaminated with diesel fuel. [Source: AP]
Trends contributing to a lending slowdown in Florida’s commercial real estate market
While there is a continued need for commercial real estate lending in Florida, many institutional lenders have “hit the brakes” and are focused on increasing deposits. The increase in deposits (with the corresponding decrease in lending) makes perfect sense. Institutional lenders will be flush with capital when the interest rates come down and the lending market returns to normal. [Source: Daily Business Review]
Parole-program trial leaves Florida families uncertain about reuniting with loves ones
In January of this year, the U.S. Department of Homeland Security expanded the humanitarian parole to also include Cuba, Haiti and Nicaragua. Florida is home to almost 974,000 Cubans, nearly 342,000 Haitians, almost 105,000 Nicaraguans, and about 264,000 Venezuelans who were all born in their home countries, according to 2021 data from the US Census Bureau. [Source: Miami Herald]
ALSO AROUND FLORIDA:
› Economic powerhouse Port Canaveral says its strength will continue in coming year
As Port Canaveral comes into the homestretch of a record-setting budget year, officials at the Space Coast economic powerhouse anticipate that its strong performance will continue in 2024 and beyond. Port Canaveral Chief Financial Officer Michael Poole expects the port to have operating revenue of $187.15 million in the 2023-24 budget year that begins Oct. 1, with profits of $59.73 million.
› Rosen Hotels offering storm rates for Florida residents
Rosen Hotels and Resorts in Orlando is lowering room costs ahead of Tropical Storm Idalia, which is expected to strengthen to a hurricane. The hotel chain announced Monday it activated “distress rates” for Florida residents who want to evacuate inland. Rooms start at $69 per night and each hotel is waiving pet fees.
› Catching up with Miami Angels: New leader, new board member & more
Juha Mikkola has experienced all sides of the Miami Angels. He joined the Angels as an investor after the Mikkolas’ exit from Wyncode in 2021. As a founder, Mikkola has pitched both his startups to the angel group over the years and received funding last year for Usko Privacy. Now he is the newest Miami Angels board member.
› Tampa seeks downtown concierge workers
The Tampa Downtown Partnership is looking for workers to help people find their way around — and to keep Tampa beautiful — all while outdoors. If you “don’t mind the toasty temperatures that can come with it, the Tampa Downtown Partnership may have just the job you’re looking for,” the organization states.
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