Florida’s 16 seaports represent a sizable chunk of the state’s $1.6 trillion gross domestic product (GDP).
New economic data from the Florida Department of Transportation (DOT) shows shipping in and out of the state’s ports now accounts for 12.2% of the Florida GDP, according to a new study published by the Florida Ports Council.
“As Florida’s population continues growing, robust investments in seaport infrastructure is essential for maintaining a strong supply chain. Modern ports, combined with our efficient operations, enables smooth cargo movement, while also minimizing delays and disruptions in the delivery of goods supporting Florida’s economic stability,” Florida Ports Council President and CEO Mike Rubin said.
Petroleum products and aviation fuel, which now is the largest import category in the state, account for $32.6 billion in imports.
The import and export of food, such as vegetables and perishables, now accounts for $9.9 billion of the GDP, while medical equipment and pharmaceuticals bring in $1.5 billion and furnishings for businesses and homes amount to $1.1 billion. Another $600 million is attributed to cement and similar materials coming in and out of the ports.
In total, the 16 ports contribute $196 billion to the state economy while accounting for 1.2 million jobs and $7.4 billion in state and local taxes.
With some of the massive natural disasters Florida has had to contend with in the past several years, port supporters say now is the time to acknowledge the indispensable nature of the facilities.
“As Chair of the Florida Chamber of Commerce, I can attest that back-to-back hurricanes have made it as important as ever to help Floridians get back on their feet. As Floridians continue their recovery process, furnishing their homes will be an important step in getting things back to normal. Florida imports more than $1 billion in furnishings annually, and we appreciate the important work of the Florida Ports Council, and we trust Florida’s reliable seaports to deliver those furnishings into the Sunshine State,” said Keith Koenig, CEO of CITY Furniture.
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