Florida News That Impacts You – January 26th, 2023
Bottom Line: Your daily recap of the biggest news from around the state that impacts you in South Florida. Gas prices continued lower through the weekend.
- The 18-year project to raise and repair Lake Okeechobee’s Herbert Hoover Dike has officially been completed. The project which should aid significantly in minimizing east-west discharges out of the lake was completed three years ahead of schedule and $300 million under budget. In a ribbon-cutting ceremony yesterday, Colonel James Booth said the Herbert Hoover Dike has never been in better shape than it is right now. The project, which commenced in 2005, encompassed the entire 143-mile perimeter of the lake.
- A new FAU study of the 10 most overvalued housing markets nationally included six Florida metros. North Port-Bradenton at 10, Lakeland at 7, Tampa at 6, Palm Bay-Melbourne at 4, Deltona at 2 and Cape Coral-Fort Myers checking in with the most overvalued housing market according to the study with prices that are 62% higher than traditional fundamentals would suggest they would be. Notably, no Florida markets were in the top ten two years ago.
- Florida’s gas prices rose higher again yesterday, adding another two cents per gallon. The statewide average is now $3.58 per gallon for regular unleaded. Prices are now 60 cents per gallon higher than a month ago. In the Palm Beaches prices rose by another two cents per gallon to $3.74 per gallon, the highest price in the state.
- Florida’s Department of Economic Opportunity has announced $142 million is being made available for small businesses. As part of the state’s Small Business Credit initiative in partnership with Enterprise Florida, small businesses with fewer than 750 employees, including start-ups may be eligible for funds for: Start-up costs, business procurement, franchise fees, equipment, inventory, and the purchase, construction, renovation, or tenant improvements of an eligible place of business.