State of Florida

"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.

South Florida commuters stuck in traffic may see some relief ahead as Miami-Dade County steps up investment in its transportation infrastructure.

The state's record-high budget includes relief from the federal American Rescue Plan Act.

Revenue from the new law would replenish the state's unemployment fund and then cut taxes on commercial real estate rents.

With federal aid rolling out, the municipal credit picture is improving and issuers are coming to market at a faster clip. An infrastructure package could push issuance levels even higher.

The pact may generate up to $2.5 billion in revenue for the state in the next five years and $6 billion through 2030.

The state’s unemployment rate has remained below the national rate for eight months in a row and has fallen by 0.2% over the year.

The state says the Centers for Disease Control's anti-COVID-19 safety protocols for the cruise ship industry are illegally burdensome and exceed its authority.

Over half of the $4.3 billion rise in the $96.6 billion budget proposal is related to costs associated with the COVID-19 pandemic.

The city has leveraged $10 million in Miami Forever bond proceeds by 20 times to provide $200 million to build affordable housing units.

While Florida has gained jobs for eight straight months, Fitch warns it could take up to four years for the travel, leisure and hospitality sectors to recover, areas that play an important role in the Sunshine State's economy.

Miami Mayor Francis Suarez talks with Chip Barnett of The Bond Buyer about what makes the Magic City so appealing to companies and investors alike right now. He discusses the attractiveness of its business climate, the city’s financial strengths, efforts to fight climate change and the diversity and resilience of its residents. (7 minutes)

Florida's triple-A ratings face an ongoing vulnerability because of the fiscal and economic impacts of COVID-19, its annual debt report warns.

The municipal market can best be described as a "Goldilocks market" due to accommodative federal monetary policy, strong demand and limited supply, bond director Ben Watkins told the Cabinet.