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Florida’s Seaports: A Dynamic Economic System Florida Ports Council www.flaports.org. Florida’s Lifestyle Flows through Florida’s 14 Seaports. Almost everything Floridians wear, eat or use in their daily lives flows through our seaports. Goods shipped through our sea ports include:.
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Almost everything Floridians wear, eat or use in their daily lives flows through our seaports.
Waterborne international trade moving through Florida seaports was valued at $82.5 billion in 2008,accounting for nearly two-thirds of our state’s total $130.5 billion in international trade.
Some control all port operations in their area; others are surrounded by private terminals.
Some are single purpose cargo ports; others have diversified to include multiple operations.
Some are special districts; others are county or city departments.They Differ in Operations and Governance
The collective mission of Florida’s seaports is to “enhance the economic vitality and quality of life throughout the state by fostering the growth of domestic and foreign waterborne commerce….”
FSTED Program ($218 million from FY 90/91 through FY 09/10 – average of $10.9 million per year over 20 years).
“Finance port transportation or port facilities projects that will improve the movement and intermodal transportation of cargo or passengers in commerce and trade and that will support the interests, purposes, and requirements of ports located in this state.”
(s. 311.07(1), Florida Statutes)
Governor’s Office of Tourism, Trade, and Economic Development
A 50-50 state/seaport partnership --through the FSTED Program-- has invested more than
of state and seaport funds for
seaport facility improvements consistent with Port Master Plans
According to a FDOT Study, this investment by the state has resulted in a return of no less than $6.90 for each state $1.00 invested.
1. Port of Miami $135.2M
2. JAXPORT $134.2M
3. Port Everglades $106.0M
4. Port of Tampa $104.2M
$479.6M or 68.6% of funds
5. Port Canaveral $67.5M
6. Port of Palm Beach $52.1M
7. Port Manatee $44.5M
8. Port Panama City $23.2M
$187.3M or 26.7% of funds
9. Port of Pensacola $9.6M
10. Port of Ft. Pierce $4.1M
11. Port of St. Petersburg $4.0M
12. Port of Fernandina $3.9M
13. Port of Port St. Joe $3.8M
14. Port of Key West $3.6M
$32.5M or 4.7% of funds
Note: Numbers rounded.
Funds included: Chapter 311, F.S.; 1996 and 1999 Bond Programs, [320.20(3) and (4), F.S.]; and $50M Legislative Stimulus Program (GR). “Other” includes statutorily authorized expenditures. Ports provided the required match.
Source: Florida Ports Council 2-15-10
The Impact of the Florida Legislature’s $50 Million Investment in Seaport Infrastructure on Florida’s Economy
In the short term, the state’s $50 million investment in nine seaport projects has created or is creating nearly 1,200 construction jobs.
When completed, these seaport projects will create more than 17,700 permanent jobs and will generate annually:
● $1 billion in personal income and consumption
● $1.3 billion in business services revenue
● $285 million in in-state purchases
● $130.4 million in state and local taxes*
The long-term benefit to Florida’s economy of this $50 million investment can be measured in the thousands of new jobs and the billions of dollars that will flow through every region of the state on an annual, sustainable basis.
*Martin Associates Economic Impact Models for the Florida Port System commissioned by the Florida Ports Council, March 2008.
U.S. Bureau of Economic Analysis Regional Input Output Model developed for the State of Florida.