MIAMI ( September 07, 2018 ) — The Florida Seaport Transportation and Economic Development Council (FSTED) announced a commitment of $3.9 million in grant funding for cruise terminal improvements and $108,075 for security at PortMiami.
The FSTED Program, crafted to finance port transportation projects on a 50-50 matching basis, creates a partnership between the state and its seaports. It was established in recognition of the economic benefits of Florida’s international trade and the need for investments in infrastructure for continued growth.
PortMiami, recognized as one of the fastest growing container ports in the U.S., is a vital economic engine in Miami-Dade County and the state. It contributes $43 billion annually to the local economy and supports more than 334,500 jobs. The FSTED $3.9 million grant funding will be used for cruise terminal improvements and upgrades to existing facilities and berths, and to help finance three new cruise terminal over the next few years.
Additionally, PortMiami will get $108,075 from FSTED’s new Port Security Grant program. This special program provides $1 million divided among Florida’s 15 deep water ports. PortMiami will allocate this funding for 43 night vision cameras used for waterside surveillance.
“Our goal is to continue to increase regional and global competitiveness at PortMiami,” said Miami-Dade County Mayor Carlos A. Gimenez. “We thank our state partners for their continued support. This grant funding is another way we continue to grow the economic significance of PortMiami. Sustained investments in infrastructure are critical in order for the Port to maintain its status as a global gateway.”
“I am very proud of our state leadership and want to thank the Florida Seaport Transportation and Economic Development Council for their continued partnership and support in grant funding allocations for PortMiami,” said the Chairwoman of the Trade and Tourism Committee Rebeca Sosa. “Our seaport is a vital economic engine for not only Miami-Dade County, but all of Florida. Its continued growth not only represents thousands of jobs, but increased opportunities for our community.”
PortMiami is among America’s busiest ports and recognized across the globe as the Cruise Capital of the World and Global Gateway. PortMiami contributes more than $43 billion annually to Miami-Dade County and generates 334,500 direct, indirect, and induced jobs. For more information please visit www.portmiami.biz.