Florida Chamber Series on Free Enterprise: Bob Grammig on Florida’s Global Economy
Florida is a global economy. In fact, if Florida was a country, it would be the 19th largest economy in the world. According to research from the Florida Chamber Foundation’s Trade and Logistics Study 2.0, the global economy is expected to double in size over the next 20 years, with more than one billion new consumers by 2020.
For Florida to move in the right direction, we need to focus on the Florida Chamber Foundation’s initiatives to MOVE, MAKE and MULTIPLY.
“We need to emphasize (on) moving more trade through our seaports and air gateways,” said Bob Grammig, Partner at Holland & Knight. “We need to have an emphasis on moving more imports directly into Florida and better balancing the inbound and outbound trade flows. Second thing we need to do is make, grow and refine more products for exports from Florida by expanding exports of Florida-originated manufactured goods, agricultural products and other natural resources. And the third thing we need to do is to multiply the impacts of global trade in Florida by providing value added services to trading businesses and our trading partners around the world, by expanding our role as the global hub for visitors, investment and talent.”
Building a global economy means opportunities for Florida’s small businesses as well. In fact, 95 percent of our state’s 60,000 exporters are small-to-medium-sized businesses that produce two-thirds of Florida’s total export value.
“One of the top things we can do is to continue to identify and elimate legislative and regulatory impediments to international business,” said Grammig. “Big businesses can, in many cases, take care of themselves on this. But for smaller businesses, it’s very helpful to have an organization like the Florida Chamber to help drive necessary changes. The other thing… we want to do is continue to support the Governor’s strategic emphasis on trade and logistics -expansion of our seaports, improvements of our airports- which will facilitate smaller exporters to have access to those international markets. And the last thing is generally, to provide continuing support through trade missions and export promotion activities to various trade partners around the world.”
Economic trade missions like the upcoming one to Peru, hosted by Enterprise Florida, and events like the upcoming International Days will benefit businesses of all sizes.
“Business leaders will hear some top international trade experts and thought leaders when they are there. many people in our state underestimate the scope of our international business,” said Grammig. “There’s more than $60 billion in exports that we do. Small businesses I think will find especially usual to learn about the programs that the Florida Chamber as well as the state federal government have to assist their international efforts.”