Industrial Manufacturing Riding Wave of Future Port and Rail Projects in Florida

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Researched by Industrial Info Resources (Sugar Land, Texas). The state of Florida has never been a Mecca of spending for the Industrial Manufacturing Industry. Since the beginning of the new millennium, less then 100 projects, worth just over $2.8 billion, have begun construction within the state. However, a recent boost in port and rail-related projects have Florida looking at planned future spending in excess of $3 billion within Industrial Manufacturing alone, which is a significant boost over the state’s recent spending history.

Five counties are reaping the benefits of this recent spending boom. Top among them where projects are being sited is Dade County, which currently is playing host to over $2.1 billion in planned future spending. Coming in a distant second place is Orange County with $393 million in planned future spending followed by Duval, Palm Beach and Broward counties with planned future spending of over $205 million, $114 million and $56 million, respectively.

Click on the image at right to view a breakdown of spending by county

Several key projects are driving this planned future spending in Florida. Chief among these projects is the $1.9 billion grassroot MIC (Miami Intermodal Center) intermodal center station and rail system project proposed by the Florida Department of Transportation. This project is part of a larger $3 billion project intended to help alleviate congestion in Miami.

In addition to the MIC intermodal project, the Florida Department of Transportation is also proposing a $393 million high-speed rail system from Orlando to Miami, while Miami-Dade County is planning a $250 million extension of their rail system that would connect with the proposed MIC intermodal project.

On the port side of the equation, there are significant future projects being planned at several ports around the state. The Jacksonville Port Authority is proposing a $200 million Dames Point container terminal addition in Jacksonville, the Port of Palm Beach District is planning a pair of projects: a proposed $100 million shipping port upgrade and a proposed $14 million demolition/construction of a warehouse along with site improvements in Riviera Beach, Florida. The Port Everglades Department of Broward County is planning a pair of projects consisting of a $40 million, 40-acre ICTF Southport expansion and an $11.8 million phase VIII Southport terminal expansion, both in Fort Lauderdale, Florida.

The aforementioned projects, combined with the numerous other projects within the Industrial Manufacturing Industry that are planned for the years to come in Florida, give the state hope of a turnaround in recent spending habits. These types of infrastructure projects can only help the state to attract new business in the future, which could lead to additional investment in the state down the road. We will have to see if this spending trend continues in Florida, but all indications are that the future is looking good for the state.

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Industrial Info Resources (IIR) is a Marketing Information Service company that has been doing business for over 23 years. IIR is respected as the leader in providing comprehensive market intelligence pertaining to the industrial processing, heavy manufacturing, and energy-related industries throughout the world.