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As boomers retire, Florida faces an economic reckoning
Three-quarters of the baby-boom generation has reached retirement age, and the enormous generation that spent decades expanding the American workforce is increasingly moving in the other direction. The shift is changing the arithmetic of an economy that can grow by adding workers, producing more with each worker or doing some combination of the two. Florida is further into the demographic shift, with residents 65 and older projected to reach nearly one-quarter of the population by 2030 while the share between 25 and 54 falls to 36.2%. More from Tampa Bay Business & Wealth.
Gas prices still dropping in Florida, with some regions below $4 again
You’ll continue to pay less for a gallon of gas in Florida this week, but not by much. The average price for a gallon of unleaded gas in Florida on Monday was $4.07, according to AAA. That’s a penny more than a week earlier, 8 cents more than a month ago, and $1.16 more than a year ago. The national average remains above that, at $4.36, while the price of diesel was at $6.35. More from the South Florida Sun Sentinel.
Florida Council of 100 kicks off startup accelerator with 46 companies
With its business-friendly regulations and policies, it’s no surprise Florida is an attractive place to build a business and in fact leads the nation in new business formations, according to US Census Bureau Data. Now business leaders around the state are rallying around a new initiative, Ambition Accelerated, that is meant to build up the industries offering the greatest opportunities for growth and impact. More from Refresh Miami, Florida's Voice, and the South Florida Business Journal.
Data centers are not allowed in St. Petersburg, city confirms
St. Petersburg’s existing zoning rules prohibit standalone data centers, according to an Oct. 9 memo from Planning Director Derek Kilborn to Mayor Ken Welch explaining how a new Florida law relates to the city’s regulation of the facilities. The city’s land development code does not list data centers as a permitted use or special exception, and uses that are not listed are presumed prohibited unless they are similar enough to an approved use to qualify. Kilborn found no basis for treating data centers as an existing permitted use, including under the classifications for utility plants and substations. More from Tampa Bay Business & Wealth.
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