SHARE:
Southeast Florida Business Briefs - Nov. 2004
In the News
PALM BEACH COUNTY -- U.S. Sugar Corp. signed a lease with Fort Pierce-based Stewart Mining Industries to allow the company to mine lime rock on its property in western Palm Beach County. The deal must be approved by county and state environmental officials .
PORT EVERGLADES -- An $854,000 grant from the Department of Homeland Security will be used to complete construction of access control gates at the port, Director Ken Krauter says.
SOUTHEAST FLORIDA -- Damage reports are continuing to roll in: Early estimates submitted by Broward County and city governments seek approximately $43 million in reimbursement for hurricane-associated costs. ... As of early October, the Federal Emergency Management Agency had approved more than $35 million in assistance to Palm Beach County residents. More than 61,000 people applied for such assistance following Hurricane Frances. ... The Breakers resort in Palm Beach was expected to reopen for the second time in early October after Hurricane Jeanne left 200 rooms rain soaked. The resort had reopened just three days before the second storm hit, following 20 days of repairs after Hurricane Frances. ... St. Lucie County was still reeling from an estimated $2.5 billion in damage from Hurricane Frances when Jeanne hit. The price tag for Jeanne is expected to be 40% to 50% higher. On Hutchinson Island, the severely damaged 179-room Holiday Inn Oceanside is not expected to reopen for months. ... Hurricane Frances damage left Martin County with an estimated $40 million in residential damages. Figures for Hurricane Jeanne are expected to be substantially higher.
WEST PALM BEACH -- New Jersey-based environmental consulting firm BEM Systems has opened an office in West Palm Beach.
Around the State: MIAMI-DADE
Destination: Recovery
Miami-Dade's ports will play a huge role in rebuilding Florida and the Caribbean.
by David Villano
Miami-Dade escaped the brunt of Hurricanes Charley, Frances, Ivan and Jeanne. Few residents lost power, and storm-related damage was minor. Evacuations and other preparations disrupted business for days, but those short-term losses will likely be offset by the flurry of rebuilding across Florida and the Caribbean. The county's big winners will be shippers and others in the international trade sector.
"Miami-Dade is in a good position to benefit over the next two to three years from increased economic activity, particularly in the trade-related industries," says Jorge Salazar-Carrillo, director of the Center for Economic Research at Florida International University. He estimates the county's hurricane-generated losses at about $500 million -- a fraction of what he says could be an overall statewide impact of $40 billion or more.
Unlike many of its in-state competitors, the Port of Miami never closed, welcoming ships bound for Port Everglades, Port Canaveral and other ports that shuttered as the hurricanes approached. Cargo traffic increased. "Economically, we didn't hurt at all," says Port of Miami spokesperson Andrea Muniz. "On the contrary, I think we benefited."
Officials believe that benefit will be long-lasting, as building materials and other supplies make their way through Florida's largest trade center. The Port of Miami and Miami International Airport, which experienced only minor disruptions in traffic, are expecting a jump in cargo volume in coming months.
"There's going to be a lot of opportunity for a lot of companies," says Roger Madan, chairman of Miami-based Florida Custom Brokers and Forwarders Association and president of Air Marine Forwarding, an international transportation and logistics company. "Miami is the gateway to the Caribbean, and many of the islands down there will be rebuilding for years to come."
