Florida Legislature Approves FDOT Transportation Package
- Business & Finance
The Florida Ports Council has released the following statement on the final passage of the FDOT Transportation Package by the Florida Legislature, which included an increase in the minimum statutory amount for seaport funding, from $15 million to $25 million, for the FSTED program.
The Florida Seaport Transportation and Economic Development (FSTED) program is administered by the Florida Ports Council.
“As chairman of the Florida Ports Council, and president and CEO of Port Tampa Bay, I see firsthand the direct connection between investment in port infrastructure and the success of the economy in our state and our community,” said Paul Anderson.
“It is extremely encouraging that the Florida Legislature continues to recognize and support the state’s seaports by bolstering long-term funding for port transportation infrastructure, and thusly, Florida’s role as a gateway for global trade.”
“Investment in critical freight infrastructure signals to global businesses that Florida is committed to helping them serve their customers,” stated Doug Wheeler, president and CEO of the Florida Ports Council.
“Guaranteeing long-term investment in seaports helps attract trade and grow our economy, while creating jobs for Florida families. We thank the Florida House of Representatives and the Florida Senate for their hard work and support.”
The FSTED Program is a state and local financing program of priority port transportation projects. Individual seaports partner with the state to identify priority infrastructure projects that “will improve the movement and intermodal transportation of cargo or passengers in commerce and trade and support the interests, purposes, and requirements of all ports.”
The bill is now in position to be signed by Florida Governor Rick Scott.