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Why Focus On International Trade?

Why Focus On International Trade?. presented to The League of Cities presented by Frank M. Ryll, Jr. Florida Chamber of Commerce August 11, 2011. Transition & Opportunity. Florida Trade Statistics. Nearly 1.3 million jobs in Florida depend on international business

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Why Focus On International Trade?

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  1. Why Focus On International Trade? presented to The League of Cities presented byFrank M. Ryll, Jr.Florida Chamber of Commerce August 11, 2011

  2. Transition & Opportunity

  3. Florida Trade Statistics • Nearly 1.3 million jobs in Florida depend on international business • Over 55,000 companies in Florida export products or services • 95% of Florida’s exporters are small and medium size companies • Last year Florida had 8 million overseas and 3.1 million Canadian visitors • Florida ranked 7th in exporting agricultural commodities with a value of more than $1 billion dollars • In 2010 Florida’s Origin Exports reaches $55.2 billion dollars, a 17.8% increase over 2009 • Florida ranked 6th in the nation in terms of foreign direct investment employment • Foreign companies employ 245,800 Floridians Sources: AWI, Mortgage Bankers Association, FDCF, FDOE, FOEDR

  4. Florida Trade & Logistics Study

  5. Why Focus on Trade?U.S. Foreign Trade Value Expected to Quadruple by 2035 $25 $20 Real Gross Domestic Product Real Value of Imports and Exports $15 $10 $5 Trillion U. S. 2000 Dollars 1995 2000 2005 2010 2015 2020 2025 2030 2035 Source: Global Insight, Inc. April 2009.

  6. Why Focus on Trade? Changing Global Trading Patterns Favor Florida Source: European Communities, 2008

  7. Why Focus on Trade?Florida Located in Fastest Growing US Consumer Market Source: America 2050

  8. Where We Stand Trade and Logistics Industry Percent of Total Employment 8.9% • 531,000 direct jobs in trade and logistics in 2009 • Typical wage 29% higher than state average 8.2% 7.2% 7.1% 7.0% 6.6 % 6.5% 6.3% 5.9% South Carolina United States North Carolina Georgia Texas Louisiana Florida Alabama Mississippi 1999 2009 Source: U.S. Bureau of Economic Analysis, 2010

  9. Florida’s Competitiveness Strengths • Large consumer market (residents and visitors) • Strategic location for N/S and E/W trade lanes • Dominant position in Latin American and Caribbean trade • Multimodal transportation infrastructure • Extensive global ties Weaknesses • Imbalance of current trade flows • Poor location for domestic distribution • Limited penetration of Asian, European trade lanes • Transportation system capacity • Limited funding

  10. Future Trade Opportunities Capture larger share of Asian imports to Florida through Florida seaports Expand Florida origin exports Expand Florida’s role as a global trade hub serving other states and nations

  11. Florida Origin Exports Florida Share of US Trade Export Value Value of FloridaOrigin Exports 4.3% $55.2 $54.9 3.3% $41.7 $33.6 $33.5 $32.7 $28.8 $29.7 1996 1998 2000 2002 2004 2006 2008 2010 (billions of 2010 dollars) Source: U.S. Census Bureau/WISER Trade, 2010.

  12. How Do We Get There?Example Recommendations Source: Florida Chamber Foundation, Florida Trade and Logistics Study, December 15, 2010

  13. Florida Trade and Logistics Study Potential Impacts • Global Leadership • Jobs • Transportation and logistics impacts: up to 32,000 jobs • Advanced manufacturing and supply chain impacts: up to 111,000 jobs • $21.5 billion in business sales • $7.9 billion in personal income • $723 million in state and local tax revenues Source: Florida Trade and Logistics Study, 2010

  14. Florida’s Future • The US economy has moved from recovery to expansion • Florida lags, though forecasts call for sustained economic growth • US GDP growth projections between 2.5% and 3.0% • FL GSP growth projections 2.6% and 4.0% in 2011 and 2012 • In Florida, strong ties to the global economy is important to recovery • Small and medium businesses are key to exports • 38,210 companies export from Florida locations • 96% of these firms have less than 500 employees

  15. Additional Information • Florida Trade and Logistics, Phase II • Reports online at www.flfoundation.org • Visit www.TheFloridaScorecard.com for quarterly trade data updates • Contact: Carrie Blanchard, Ph.D. cblanchard@flfoundation.org 850-521-1283

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