Industry Spotlight: Global Logistics and Trade 

Industry Spotlight is designed to highlight the exciting industry news available in the diverse industries that affect the Broward County economy. Here you will find a collection of Global Logistics and Trade industry information, resources and economic activities. The Global Logistics and Trade Industry broadly incorporate all aspects of work involved in warehousing, distribution, and logistical support for both exported and imported goods. Some have defined logistics as the coordination & distribution of materials, goods and supplies having them at the right place and at the right time. In addition, new technologies, new business complexity, and greater integration across companies and geographies have heightened the need for more comprehensive supply chain knowledge and for training in relevant and cutting edge logistics and distribution.

Economic Impact

A July 2009 Florida Chamber of Commerce study on the Trade and Logistics industry indicates a potential of 143,000 jobs, $21.5 billion in business sales, $7.9 billion in personal income and $723 million in tax revenues over the next 10 years in Florida. The study points out that this outcome would transform Florida’s economy, adding world class strengths in trade, logistics and advanced manufacturing to the state’s traditional focus in agriculture, tourism, and construction. The complete report can be downloaded from www.flfoundation.com/research.asp.

Market Briefs

• On August 23, 20011, a $72.8 million project was approved by the Broward County commission to facilitate the transfer of cargo from ships to trains at Port Everglades.
• Florida Governor Rick Scott and his economic development team are marketing Florida as a trade and logistics hub to attract new business investment.
• The state of Florida will fund $77 million to dredge the Port of Miami as reported in The Miami Herald on March 4, 2011. It is estimated that 30,000 jobs will be produced as a result of this dredging.
• A $610 million tunnel project is underway for shipping containers to the Port of Miami.
• Recently, some $23 million of stimulus funds have been allocated to rebuild rail line from a Florida East Coast Railway yard to the Port of Miami.

Current Trends & Opportunities

• South and Latin American trade with the United States has demonstrated tremendous growth and opportunity for more via the South Florida gateway.
• The Florida DOT has undertaken advance planning for an integrated statewide network of trade gateways, logistics centers, and transportation corridors through Florida’s Strategic Intermodal System.
• Broward College began a Certificate Program in Logistics and Supply Chain in September, 2010. The program has expanded to an AA Degree Program in January, 2011 and will further expand to a 4 year Degree program by the end of 2011.
• Recently, Global Trade and Logistics has become a State of Florida targeted industry with the focus of all state agencies.  A Banner Center has been established at Florida Gateway College in Jacksonville to develop education and training programs to support this fast growing industry.

Industry Links:

• Global Logistics and Transportation Industry Outlook 2009
• Global Trade and Logistics Banner Center: www.logisticsbannercenter.com