Port miami expansion
The expansion of the Panama Canal can be expected to stimulate a coast-inward recovery for Florida’s economy. We expect to see an increase in demand for skilled workers and industrial complexes to accommodate the increased volume of container traffic flowing through the Port of Miami. This increased trade will also lead to massive growth of ancillary businesses not directly tied to the Port. Businesses such as customs brokers, freight forwarders and logistics firms. All of these companies will need additional services and resources—attorneys, banking, accounting, accommodations, entertainment and more—creating business development opportunities for all kinds of businesses. This presentation is an overview of what is to come.
Published on: Mar 4, 2016
Transcripts - Port miami expansion
A $33 BILLIONECONOMICIMPACT IS ABOUTTO HIT MIAMI. IS YOUR SMALL BUSINESS READY TO RIDE THE WAVE? Excerpts from a Whitepaper by Miami Growth Advisors www.miamigrowthadvisors.com
This paper is intended to be a guide for the small businessowner on what he or she must do to be ready for Miami’swave of opportunity. Read it and place yourself at theforeground of a thunderous wave that promises to transformSouth Florida’s local economy, businesses and wealth.
Let’s start with a multi-billion dollargame-changing event called thePanama Canal expansion Today, the Panama Canal’s maximum ship size is 4,400 TEUs (1,000 ft)lengths by 100 ft widths) referred to as ‘Panamax’ ships. Upon completion of the new third lock system the larger ‘Post-Panamax’ ships, 12,600 TEU’s (1,400 ft lengths by 160 ft widths) can transverse the canal. These larger ships allow for the delivery of containers at reduced prices due to the sheer scale of delivery capacity—imports and exports will grow exponentially. Completion is scheduled for early 2015. Until now South Florida has been primarily a consumer market. In fact, for every four container loads that come, only one goes back up North with goods. Three containers return empty! This gap is expected to be used up by new imports making their way North. Multiple government incentives are being designed to stimulate manufacturing in South Florida and trade with Latin America. This influx of commerce, imports, exports and new businesses are just a few of the factors eminent in Miami’s horizon. The perfect convergence of events with a tidal wave of economic opportunity. How can your prepare your business to claim your share? That’s what these Whitepapers is about.
Growth for all industries Expect to see an increase in demand for skilled workers and industrial complexes to accommodate the increased volume of container traffic flowing through the Port of Miami. This increased trade will also lead to massive growth of ancillary businesses not directly tied to the Port. Businesses such as customs brokers, freight forwarders and logistics firms. All of these companies will need additional services and resources—attorneys, banking, accounting, accommodations, entertainment and more—creating business development opportunities for all kinds of businesses. In the words of Florida’s Governor Scott, “Our port’s infrastructure improvements and expansion plans will dramatically drive Miami’s (and all of Florida’s) economy forward for decades to come with an estimated additional $30 billion dollar economic impact over the next 10 years. We also expect to create over 33,000 new local Miami Dade County jobs with an average annual salary of over $55,000 a year.” These are impressive numbers indeed.
The Expansion in detail With the completion of the Panama Canal The 2 Billion dollar port expansion expansion, in early 2015, Florida is making includes the tunnel going from Dodge major infrastructure improvements to Island, 120 feet under Government Cut, to ports and rail systems in hopes of Watson Island connecting the Port to attracting shippers looking to reach Interstate 395. The project started in May southeastern states quickly. (Note: 70% of of 2010, and on July 31st of this year, the US population lives east of the “Harriet” the large bore drill designed for Mississippi River.) this project, broke through to Dodge Island and completed the eastbound In order for the Port of Miami to tunnel. The project is slated to complete accommodate these super ships, the in May of 2014. The Port of Miami will be depth of the port must be at least 50 feet adding four more super post-Panamax and would require dredging. The next port gantry cranes used to load and unload up the east coast with a 50 foot depth is in containers to the two already at the Norfolk, Virginia, 797 nautical miles to the facility, vastly improving turnaround times north. The final permitting to dredge in loading and unloading. There seems to Government Cut was granted in May of be a recurring date emerging with a this year. The dredging is scheduled to convergence of timelines, isn’t that start in early 2014 and expected to be interesting? complete in early 2015.
The Expansion in detail Now let’s expand our vision and include Additionally, the Florida East Coast what’s happening with Flagler’s railroad. Railway has invested $50 Million in The port is upgrading its rail links and upgrades to the 351 miles of train track creating an intermodal rail yard to be between Miami and Jacksonville. The first complete in the spring of 2014, along with new railway tracks since the 1900s will be renovations to the bridge that carries rail laid for the Florida East Coast Railway’s cars from the port’s island home to Florida new passenger train to Orlando also East Coast Railway yard. Florida East starting in 2014. Coast Railway FEC is developing land that it owns along its rail line adjacent to All of these infrastructure changes are Miami International Airport (MIA) to build designed to increase the flow of goods a transload logistics center where full heading north. container loads can be brought from the ports and broken down into less-than- container loads. This center will be able to perform value-added services as well as receive air shipments from the nearby airport.
The Expansion in detail Let’s shift our attention from the railroad Just prior to the opening of the MIA’s new and the port to the MIA Expansion Project. arrivals facility, the Metrorail opened its The North Terminal opened August of Orange line, improving airport accessibility 2012 as the “International Arrivals to all of the areas covered by Metrorail. Facility” with 72 lanes for federal Other DOT infrastructure improvements inspections servicing up to 2000 people being made include the Toll Road 836 per hour. They’ve now got 6 lanes from the toll plaza to both I-95 and I -395 dedicated solely to expediting global entry to handle the anticipated increase in truck processing. Last year MIA led all U.S. traffic, currently at 28% of all traffic in airports with an increased passenger Miami today. growth of 7% coupled with a 5% increase in cargo growth during their 2011–2012 fiscal year.
How does this relate to theaverage small business owner? There is a huge wave of economic opportunity headed our way here in South Florida and the groundswell has already started. At this moment, it may not be apparent to you, but it’s a fact that billions of dollars will be flowing through Miami in the next decade. Will your business be ready to claim its share? What have you seen as a possibility for your business while reading this whitepaper? What value can your business bring to this game? How can you get involved?
Will your business beready to ride the wave? If you want a copy of the original whitepaper, and our 7 Step Readiness Guide, visit: www.MiamiGrowthAdvisors.com Follow us on: