© 2024 WLRN
MIAMI | SOUTH FLORIDA
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Florida's legislative session, the Wall Street of the South

A real estate attorney representing The Related Companies, showed commissioners renderings of two proposed buildings.
Related Companies
A real estate attorney representing The Related Companies, showed commissioners renderings of two proposed buildings.

On this Monday, March 7, edition of Sundial:

Florida's Legislative Session 

This week marks the last of the 2022 legislative session.

Lawmakers have debated controversial bills concerning abortion, critical race theory, the so-called "Don't Say Gay" bill – and even whether Strawberry Shortcake or Key Lime Pie better represents our Sunshine state.

You turn to WLRN for reporting you can trust and stories that move our South Florida community forward. Your support makes it possible. Please donate now. Thank you.

“It's about the sweetest thing that's happened in this session. Maybe the only sweet thing,” said Mary Ellen Klas, Capitol Bureau Chief for the Miami Herald.

She joined Sundial from the Capitol to discuss what lawmakers have done so far, and what issues still need to be resolved this week. Lawmakers have also been drawing new maps for the once-a-decade redistricting process.

“The governor came out and did something very unusual. He proposed his own map. So the House thought they were going to try and reach middle ground with him. So they proposed a map that they thought would meet some of the governor's criteria, which is that he wanted to dismantle a Black district that stretched across the top of the state. They did put together an alternative that condenses that district, but continues to make it a Black access district. The governor says that's not good enough. He's still unhappy about it, and he's going to veto it,” Klas said. “So in anticipation that they might be running up against some legal challenges, the House and the Senate passed these two maps, one that leaves this historically Black, or this historic district, in place. And the other that dismantles it but still creates a Black access seat.”

But lawmakers have not agreed on a budget yet, their only mandated duty. They're supposed to finish this Friday night but there are already some signs that lawmakers might have to come back.

“I'll tell you the discussions have not been in the open over the weekend. We normally have numerous budget negotiations and conference committees. This weekend, they did not have any. There was one late on Sunday night,” Klas said. “The differences continue to be pretty significant.”

You can find a roundup of Mary Ellen Klas’s latest reporting on the week ahead, here.

Florida's Legislative Session

The Wall Street of the South

Nearly 100 financial firms have opened offices in South Florida over the last five years. About half of those companies arrived during the pandemic.

Maybe it’s Florida’s tax-friendly status, lax COVID restrictions or the warm weather — something about our region has these companies flocking south. So much so that it’s being dubbed the “Wall Street of the South.”

“In some cases, they are moving their base and in other cases, it is an expansion. But what we have seen is that expansions into the Palm Beach County market three years ago are now turning into a longer-term corporate headquarter moves, or at least discussions in that direction. But we have many signs that this is not a dip in the toe in the sand,” said Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County.

This development and growth bring jobs and money to the region, but it also comes with its own costs and consequences.

“I am a small business owner located in Palm Beach County. I hear on a daily basis from employees, friends and family that the unaffordable housing and availability is a major problem. Cost of living, limited housing, rising inflation, increased gas prices, etc. has an impact on small businesses,” said Sundial listener Kristi Johnston Vick via Facebook. “Affordable housing is crucial on multiple levels. Not to mention locals see increased traffic and congestion and higher stress levels with all these people moving here.”

The question is whether the positives outweigh the negatives in this case. And if the state is even in a position to sustain this trend. n order for that to happen, the infrastructure has to be equipped to handle newcomers meaning roads, transportation, schools, etc.

“I think the schools issue is a huge one. We've never been known in Florida for spending enough money on our public schools, certainly compared to some of the northeastern places,” said Richard Florida, a University of Toronto professor — who has written extensively about Florida’s economy.

“Don't be surprised if we see a bunch of these new folks say, ‘we've tried it. We love it. We'd prefer to live there [in South Florida] if we could find our dream house and our dream school. But if it's not here, we're going back north.”

He said the next great migration for remote workers will be dictated by parents looking for the best schools for their children.

The Wall Street of the South
A Wall St sign hangs at the New York Stock Exchange (NYSE) at Wall Street on March 23, 2021 in New York City.

Leslie Ovalle Atkinson is the former lead producer behind Sundial. As a multimedia producer, she also worked on visual and digital storytelling.
Caitie Muñoz, formerly Switalski, leads the WLRN Newsroom as Director of Daily News & Original Live Programming. Previously she reported on news and stories concerning quality of life in Broward County and its municipalities for WLRN News.