Thursday, September 19, 2024
Michael Rubin President & CEO | Florida Ports Council

Florida's seaports face funding challenges amid rising capital improvement needs

When it comes to ensuring that Floridians have access to critical commodities like food, fuel, and healthcare supplies, Florida’s seaports are the essential supply chain leader.

The path to becoming America’s supply chain solution has included multiple years of significant investments that enhanced port infrastructure, increased capacity, improved cargo container handling, and strengthened overall connectivity to rail and roads. The return on investment from these enhancements has bolstered Florida’s economy, supported almost one million jobs, and boosted wages.

However, just as vehicles require routine maintenance such as oil changes and engine repairs, Florida's seaports also need regular upkeep to ensure the continued flow of critical commodities. Stagnant and diminished funding are impacting Florida’s 16 public seaports. These ports face over $5 billion in Capital Improvement Plan investment needs for 2024 through 2028. This translates to an annual funding requirement of one billion dollars for significant planned investments including berth repairs and channel deepening for navigational safety.

Over the past decade, funding for Florida's seaports has decreased from $278 billion in 2014 to $109 billion in 2024. While appreciative of past investments, maintaining Florida’s supply chain leadership role—especially regarding essential commodities like food, fuel, and medical supplies—remains a formidable challenge.

In recent years, Florida’s seaports have achieved notable milestones with new container shipping lines from Asia, Europe, and Africa calling on the ports. However, sustaining the strength and competitiveness of these seaports largely depends on their ability to perform necessary maintenance and upgrades.

Later this month, seaport directors and leadership will convene in Pensacola for their annual board meeting where this issue will be a primary topic of discussion. Representative Kim Berfield will be among the attendees.

As storm frequency increases this hurricane season, confidence remains high that Florida's seaports are prepared to handle tropical conditions. They have conducted hurricane preparation scenarios and possess extensive experience dealing with such weather events. Ensuring the maritime community and public remain informed about port condition alerts is a top priority.

Thank you for your support.

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