The Current State of Florida’s Financial System

If Florida’s City Council doesn’t vote in favor of the proposed mileage rate increase the state is in danger of facing more budget problems.

The Florida Chamber of Commerce created a six-driver structure to focus six major areas that include, innovation, talent, business climate, infrastructure, governance and quality of life. They will also invest in the new economy by creating more high skilled and higher paying jobs for residents of Florida. The commerce is in support of international trade and would like to see better paying jobs created in that area also.

Employers will focus on restructuring and increasing job opportunities for the work force and focusing on career education that is geared towards the job. The commerce also supports having an energy policy that will be affordable and reliable.

Some of the other concerns that the state will support and focus on are in the areas of property insurance, health insurance, property tax relief, workers compensation, private property rights, Lawsuit abuse reform, constitutional amendment reform, and attainable housing.

The government affairs advocate for the North Florida Region of the Chamber of Commerce, Brock Mikosky is optimistic that the economic situation will get better if free enterprise and capitalism comes into play. He also said that he believes that taxing and changing policies can’t solve the present economic situation. The President of Compass Bank, Nelson Bradshaw blames the economic crisis on the residential mortgage business. He said that it is spiraling down so fast that it has caused havoc for the contractors and sub contractors.

The state of Florida was second in the nation for mortgage fraud in 2008 but in 2006 and 2007 they were number one in the nation for mortgage fraud. Florida Attorney General Bill McCollum has called for several agencies to create a ‘cooperative approach’ to the fraudulent housing crisis after receiving thousands of calls from homeowners who were duped by phony foreclosure rescue agencies.

It has been reported that the housing market is getting better but the consumer must be aware of agencies pretending to help them with their mortgage. Most of the business owners in the state of Florida are republican but they do have faith in the new administration. Some lobbyist believe that it is vital for the Chamber of Commerce and the state lawmakers to band together if they expect to see a full recovery of the economy in Florida.

Florida was once a beautiful and affordable state to live in. It is still very beautiful but now sits at number fourteen on the list of the most expensive states to live in.