There’s plenty of buzz about the Panama Canal expansion in South Florida these days. But unless Miami comes up with some money to dredge the harbor, the “Gateway to Latin America” status alone won’t help the Magic City tap into new international trade revenues.
Of course, deep ports aren’t an issue on the West Coast. And Norfolk, Va. has the east coast advantage as the only port that can currently handle post-Panamax vessels. New York and New Jersey may be able to cash in on some of the megaship traffic by 2015—a year after the Panama Canal expansion project is completed.
But what about Florida ports?
Miami and Jacksonville are battling for which city will get bragging rights as the first with the true ability to accommodate post-Panamax cargo ships to their harbors. Jacksonville has strategic military reasons why it might win the dollars, yet Miami has more political clout.
The bottom line: Florida needs to see both harbors dredged if the state is going to compete in the new international trade game.
Indeed, Florida’s ability to compete on an international trade stage—including all the Asian connections commercial real estate brokers keep talking about—depends on our ports having the capacity to accommodate these ships. Right now, we’re stuck in the water—literally. The ships just can’t make it through.
If Miami could find $75 million to deepen its port, we’d immediately see on shore development of warehouses and cranes. It would create 33,000 jobs, according to port officials. That’s nothing to sneeze at in today’s economy.
But the broader implications are much deeper (pun intended). In an era where budget cuts are rightfully on the minds of legislators from coast to coast, Miami could be rendered uncompetitive on the international trade front if we don’t find some deep pockets (pun intended again) to dredge the harbor.
Yes, Miami could ultimately forfeit an important economic engine if our state senators can’t find a way to get the money for the all-important dredging done. There’s a place for budget cuts, but I submit to you that Miami’s harbor isn’t the place.
What say you?
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