Florida s Seaports: Economic Engines for Florida.

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1 Florida s Seaports: Economic Engines for Florida

2 Florida Seaports

3 Florida Ports Council Who We Are: The professional association for Florida s 15 public seaports What We Do: Advocacy State and Federal Planning Administer the statutory Florida Seaport and Transportation Economic Development Program (FSTED) a funding program of the Florida Legislature.

4 Impact of Seaports Almost everything Florida and U.S. consumers wear, eat or use in their daily lives flows through Florida seaports.

5 Goods shipped through Florida Seaports include: Aggregates, Asphalt, Automobiles, Computers and Electronics, Automotive Parts, Aviation Fuel Building Materials, Clothing, Coffee, Cement, Copper, Dairy Products, Feeds, Fertilizers, Fruits, Furniture Gasoline, Grain, Household Appliances, Leather Goods, Lumber, Newsprint Orange Juice, Paper Products, Steel, Power Plant Fuel, Refrigerated Products, Salt, Sugar

6 Economic Impact of Seaports Responsible for more than 550,000 direct and indirect jobs and $66 billion in total economic value. These activities contribute $1.7 billion in state and local tax revenues. According to FDOT, every $1.00 invested in the seaports yields $6.90 ROI to the state s economy and up to $7.47 in state and local taxes for every $1.00 of state investment at build-out for specific high-value strategic seaport projects. The average annual wage of seaport-related jobs is $54,400, double the average annual wage for all other non-advanced degree occupations ($26,933) and $15,000 more than the average annual wage for all occupations ($38,470).

7 Trade coming through Florida Seaports Florida ranked fourth among the nation s top exporting states in Waterborne international trade moving through these seaports was valued at $82.7 billion in 2011, increasing by 18.7 percent from $69.7 billion in This $82.7 billion represented 55.4 percent of Florida s $149.4 billion total international trade.

8 Key Global Markets 65% of Florida origin exports go to Western Hemisphere nations Key markets: Brazil, Canada, Colombia and Venezuela 17% of exports go to Europe 16% to Asia and the Middle East Africa is an emerging market for Florida products Leading import markets: China, Japan, Colombia, Mexico and Costa Rica

9 Import Snapshot In 2011, Florida had $62.4 billion in imports and $86.8 billion in exports a $24.4 billion trade surplus. Nationwide the U.S. had 59.8 percent imports to 40.2 percent exports. Asia and the Middle East retained their position as top import trading partners, with 5.2 percent growth, however, South America is closing in on the top position, with 32 percent growth. There was a notable increase in imports from the Caribbean, posting a 46.7 percent change in Overall, Florida s import trade increased by close to $10 billion for the second year in a row, as compared with the $14.4 billion decline in 2009.

10 Export Snapshot Florida has the highest trade surplus among the states 55,000 Florida companies export; 19% of U.S. total Florida has the second largest export sector in the nation The number of Florida exporters has grown by 76% since 2003 Highest rank among states (U.S. average is 31%) Florida exports are up 17.6% through November 2011

11 Cruise Industry in Florida Florida-based cruise operations account for 59.7 percent of all U.S. cruise embarkations. In FY 2011, 13.3 million passengers embarked and disembarked from Florida seaports. At least 45 percent of direct cruise line employment -14,000 jobs- occurs in Florida, and is responsible for more than 123,000 Florida jobs. PortMiami, Port Everglades, and Port Canaveral are the top three multi-day cruise ports in the world. Cruises embark from the Port of Tampa and at the Port of Jacksonville -- as well as conduct port-of-call visits at the Port of Key West.

12 Florida Leadership on Ports Florida Governor Scott: Florida is the best place for companies to import and export their products. That is exactly why we must make sure our ports are able to compete with other ports in the Southeast and along the entire Eastern seaboard. FDOT Secretary Ananth Prasad: In order to unleash the power of the free market and private capital, we must make investments in our state s ports and reduce the barriers for shippers and logistics firms to move freight and cargo through our state. By increasing imports and exports, the state s economy will grow and Florida will be the economic engine for the entire country.

13 Florida Ports Council 502 E. Jefferson Street Tallahassee, Florida Find us on Facebook and Twitter!

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