State of Florida

"Our budget proposal not only builds on the successes of the past four years, but ensures that Florida will continue to thrive," said Gov. Ron DeSantis.

The Miami area unemployment rate fell to 1.4% in December and saw the second-highest number of private-sector job gains in the state on a year-over-year basis.

The state's benchmark debt ratio for debt service to revenue is at 3.78% — well below a 6% target and 7% limit.

"I think it's undemocratic of major asset managers to use their power to influence societal outcomes," said Florida CFO Jimmy Patronis.

Watkins has served in a variety of leadership roles on muni associations and is described by colleagues as a tireless advocate for the municipal bond issuing community.

Ben Watkins, Director of the State of Florida's Bond Division, talks with Chip Barnett about the latest news coming out of the Sunshine State and takes a look at what's happening in Reedy Creek. He discusses Florida's bonding and debt, infrastructure plans and dives into the state's ESG priorities. (30 minutes)

“In the Great Recession it took us like seven or eight years to get back to where we were pre-recession,” Florida's Ben Watkins said. “This time it was less than 24 months.”

While the outlook revision reflects the view there is a one-in-three chance RCID's credit profile could be positively or negatively impacted, future events remain unclear, said S&P's Christian Richards.

Florida's economy is stabilizing from the COVID-19 pandemic, but nature and man may bring other threats to its recovery.

Over the next 10 years, the Division of Bond Finance forecasts about $1.8 billion of net tax-supported debt will be issued, mostly for transportation projects.