Solidifying Florida’s Role in Trade and Logistics
By: Tracey Lowe
As Florida becomes the third most populous state in the nation and with an estimated six million new residents settling in our state by 2030, our state has to find new solutions that help, not only the way we view resources, but the way we run international business.
The global economy is expected to double in size throughout the next 20 years. One billion new consumers will enter the middle class by 2020, with two thirds living in emerging markets. By 2030, the world’s population will increase to 8.4 billion, 80 percent of the world’s purchasing power, 90 percent of economic growth, and 95 percent of consumers will live outside of U.S. borders.
Continuing to focus on diversifying our economy and markets of opportunity is an important strategy for success and continued growth. Free trade agreements adopted and under consideration create new business opportunities and have opened Florida to new markets. Florida is well positioned to not only benefit from international trade but play a pivotal role in new and emerging trade lanes.
Economic development in areas such as international trade, sea port, manufacturing, aerospace, aviation and other targeted clusters is tied directly to innovation, diversification and how well Florida can adapt to growing and changing trends.
According to the Florida Chamber Foundation’s Trade and Logistics 2.0 Report, Florida can create more than 150,000 high-wage jobs by growing manufacturing, exports and trade and logistics. In order to take advantage of changing trade routes, a historic expansion of the Panama Canal, and targeted infrastructure investments, we must continue to leverage and grow opportunities.
Strengthening Florida’s rapidly growing manufacturing industry will be the key to ensuring a robust global future. The Florida Chamber will support increasing Enterprise Florida’s budget for international trade and marketing activities and will continue to support initiatives that encourage growth in the manufacturing, trade and logistics industries.
The Florida Chamber will also continue to support strategic investments in our trade infrastructure, work to build a “talent supply chain” for trade, logistics and manufacturing workers and ensure an ongoing strategic presence in Washington, D.C. – advocating and positioning Florida for a leadership role at the federal level.
In order to become the number one state in the nation for innovation and economic development, we must continue to attract and retain high-skilled talent, target growing industries and continue to work toward the recommendations set forth in the Florida Chamber Foundation’s Trade and Logistics 2.0 report.