News from the South - Florida News Feed
Report: Florida state technology fund has generated $1.1B in investment income | Florida
SUMMARY: The Florida Growth Fund Program has allocated $1.1 billion to the Florida Retirement System Pension Fund since 2008, yielding $133.5 million for the pension. The fund has consistently met return benchmarks and contributed to the creation of 2,300 jobs, with $391 million in capital investments. It invested in 91 companies and 62 private equity funds, with $59.1 million committed in fiscal 2023-24. Managed by Hamilton Lane and J.P. Morgan, the fund’s top sectors for investment include lumber and woodworking wholesalers, professional employer organizations, and roofing contractors. Most investments are concentrated in seven counties, representing 81.8% of the total.
The post Report: Florida state technology fund has generated $1.1B in investment income | Florida appeared first on www.thecentersquare.com
News from the South - Florida News Feed
Florida Democrats launch lawsuit against Gov. DeSantis over ‘Alligator Alcatraz’ access
SUMMARY: Several Democratic Florida state lawmakers filed a lawsuit against Governor Ron DeSantis and FDEM Director Kevin Guthrie after being denied entry to the “Alligator Alcatraz” immigration detention facility. The legislators argue the site qualifies as a state detention facility, granting them legal visitation rights. FDEM countered, stating their authority applies only to legislative committees, not individual lawmakers, and the facility isn’t a state correctional institution under Florida law. The suit seeks a court order forcing immediate access. The governor’s office called the lawsuit frivolous, noting an invitation had been extended for a weekend tour.
The post Florida Democrats launch lawsuit against Gov. DeSantis over ‘Alligator Alcatraz’ access appeared first on www.clickorlando.com
News from the South - Florida News Feed
A man used fraudulent money to buy a membership at luxury club in Ponte Vedra. He just pleaded guilty in COVID-19 scheme
SUMMARY: James Elliott Davis, 36, of Ponte Vedra Beach, pleaded guilty to bank fraud, wire fraud, money laundering, and theft of mail related to a COVID-19 PPE fraud scheme. From 2018 to 2022, he operated Medisale Inc., falsely claiming the company made significant profits selling PPE and held hospital contracts. Davis presented fake bank statements to investors and manipulated accounts to appear wealthy. He used investor funds to cover debts, fabricate profits, and pay personal expenses, including a luxury club membership and $27,000 on custom clothing. He faces up to 65 years in prison and must pay restitution.
The post A man used fraudulent money to buy a membership at luxury club in Ponte Vedra. He just pleaded guilty in COVID-19 scheme appeared first on www.news4jax.com
News from the South - Florida News Feed
‘It’s not easy:’ Here’s what could be coming for Florida’s economy
SUMMARY: Despite rising economic anxiety, UCF economist Sean Snaith forecasts no recession, predicting continued but slower growth amid trade policy uncertainties. Florida’s economy faces potential threats from geopolitics, domestic policies, and hurricanes, yet core sectors like tourism remain strong. By 2028, Florida’s nominal GDP is expected to surpass \$2 trillion, nearly 20% higher than last year. Economic growth rate will slow as the state nears full employment, resulting in modest labor and job growth. Key job sectors with steady growth include education and health services (1.9%), leisure and hospitality (1.5%), construction (1.4%), financial services (1.2%), and government (0.8%). Real personal income growth will average 2.9%, slightly above national rates. Per capita incomes are forecasted to rise across Florida’s metro areas by 6.1% to 10.1% through 2028.
The post ‘It’s not easy:’ Here’s what could be coming for Florida’s economy appeared first on www.clickorlando.com
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