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Legislative & Economic Briefing: What South Florida Businesses Should Know

As your voice for business in Tallahassee and beyond, we’re keeping a close watch on the economic landscape shaping our region. Here’s what South Florida businesses need to know:

🔹 Florida Still #1 for New Business Starts
Entrepreneurs continue to flock to the Sunshine State. Over 52,000 new business applications were filed in Florida last month alone—outpacing every other state.

🔹 Job Growth Steady, But Inflation Still a Factor
Florida added more than 148,000 jobs year-over-year, helping power national employment gains. The state’s unemployment rate holds steady at 3.7%, though inflation concerns remain in the spotlight as the Federal Reserve holds interest rates unchanged—for now.

🔹 South Florida’s Housing Market Sees a Shift
The median price of a single-family home in Florida has dropped 4% compared to last year, marking the sharpest decline in over a decade. Homes are sitting longer on the market—good news for buyers, but something to watch for developers and real estate professionals.

🔹 Childcare Business Investment Expands
A recent initiative funded by Wells Fargo has supported over 1,500 childcare businesses statewide, helping working families and strengthening Florida’s early learning workforce pipeline—a legislative priority we continue to champion.

🔹 Looking Ahead: Business Tax Reform & Workforce Bills in Play
Several key proposals are expected to return during the next legislative session, including updates to the Florida business rent tax and expanded workforce development incentives. We’ll keep you informed and ready to act when the time comes.