Did You Know 95 Percent of the World’s Consumers Live Outside the United States?
By: Tracey Lowe
As the gateway to the Americas, Florida is in a prime position to capitalize on trade opportunities with international consumers. Florida companies that have global trade as part of their strategy earn 30 percent more and pay their employees one-third more than the average wage.
It’s not just shippers and manufacturers taking part in this opportunity. Every Florida industry can benefit from trade with international markets. Since May is World Trade Month in Florida, it’s the perfect time to focus on how to expand the state’s reach into global markets and help create the more than 550,000 new jobs tied to trade projected over the next 5 years.
The state’s $850 million investment in ports will go a long way to increasing merchandise trade through Florida’s 15 deep water seaports. A recent Florida Ports Council analysis found that Florida ports created $96 billion in economic value, accounting for more than 1 in 10 of every dollar of Florida GDP.
“Ports are key to Florida’s global trade strategy,” said Bill Hanson, Vice President of Government Relations and Business Development, Great Lakes Dredge & Dock Corporation (GLDD). “The deepening and dredging projects underway at the state’s ports will not only expand shipping channels, allowing Florida to accommodate the larger vessels headed our way once the Panama Canal expansion is complete, it will expand every Floridian’s access to international markets.”
Share Your Story:
What is your company doing to take advantage of international trade opportunities? Email the Florida Chamber Foundation’s Chief Economist Dr. Jerry D. Parrish at firstname.lastname@example.org and share your story.
The Florida Chamber’s International Business Council works to promote Florida’s global competitiveness through expansion of international trade opportunities and investments in ports. If you are interested in adding your voice to the conversation, please contact Alice Ancona at 305-965-7038 or at email@example.com.
About the Florida Scorecard:
The Florida Scorecard, located at www.TheFloridaScorecard.com, presents metrics across Florida’s economy. Each month, the Florida Chamber Foundation produces a Scorecard Stat that takes an in-depth look at one aspect of Florida’s economy. If you would like additional information on the Weekly Scorecard Stat or on the Florida Scorecard, please contact Dr. Jerry Parrish with the Florida Chamber Foundation at 850.521.1283.