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My Florida C F O
Weekly eNewsletter from Florida's Chief Financial Officer

Dear Fellow Floridian:

This week, I again called on Congress to take immediate action to spare Floridians from the devastating rate hikes forthcoming as result of reforms to the National Flood Insurance Program (NFIP). These changes, set to begin October 1, will dramatically increase the costs of flood insurance, and in a number of instances actually expand and redefine flood zones and risks.

The NFIP was created to help families who live in flood prone areas, and I understand the importance of improving its financial stability. Unfortunately, there is no guarantee the scheduled changes will improve the program because of the possibility that they create further instability in what is already a delicate real estate market. Our state’s real estate market will be hard-pressed to withstand the shock of unexpected flood insurance cost increases, which will make it more difficult to own or sell a home.

I have made it clear to every member of Florida's congressional delegation, Republican and Democrat alike, that the scheduled changes will bring significant financial hardship to unsuspecting Florida families already facing economic challenges. I hope that you too will contact your U.S. Senators and Representatives, and let them know that they need to quickly act to correct a harmful policy.

Jeff Atwater
Jeff Atwater
Chief Financial Officer
State of Florida

News of Interest

Bloomberg News: Tourist spending boosting U.S. economy

Tampa Bay Times: As Florida jobless rate nudges lower, a closer look behind the numbers

Miami Herald: Strong August for South Florida hotels

Sun-Sentinel: Business is buzzing for South Florida beekeepers

CFO Atwater Offers ‘Paying for College: Controlling Your Degree of Debt’ Webinar

The Department of Financial Services is teaming up for a second year with the Florida Association of Student Financial Aid Administrators (FASFAA) to offer a free webinar entitled “Paying for College: Controlling Your Degree of Debt.” As financial aid application deadlines are fast approaching, this webinar will provide valuable information on the variety of financial aid programs that can minimize college debt.

The next webinars are scheduled for 5:30 p.m. on Sept. 30th and 8:30 a.m. on October 2nd. The webinars will provide information about the variety of financial aid programs available, how financial need is determined, how to calculate the true cost of education and how to complete all the steps in the financial aid application process.Laptop with diploma image

For more information or to register for a “Paying for College: Controlling Your Degree of Debt” webinar, visit www.MyFloridaCFO.com/YMM or call the Division of Consumer Services helpline at 1-877-MY-FL-CFO (693-5236).

This webinar is offered as part of CFO Atwater’s Your Money Matters initiative to help Floridians secure a firm financial foundation. This program provides important financial information and resources to inspire all Floridians to take charge of their financial future.

Innovation Drives Florida's Economy

Florida has worked hard to create an environment for long-term growth and investment that allows businesses to better serve their communities and employ more of their neighbors. This culture of economic innovation has helped Florida Florida's Bottom Line be recognized as the “Most Innovative State in the Nation” by Fast Company magazine this year.

Beginning with its edition on biotechnology, Florida’s Bottom Line is presenting a three-part series on Innovative Florida, highlighting the people and industries that are driving our future as a diversified economy. We are now recognized as one of the most attractive areas worldwide for the biotechnology industry, with more than 200 biotechnology companies calling Florida home.

The quarterly edition of Florida's Bottom Line is complemented by its often-updated website, www.MyFloridaCFO.com/FloridasBottomLine. When new economic data is released, it can be found here. Florida's consumer confidence, retail index, employment statistics and various other resources will keep you up-to-date.