BROWARD COUNTY PORT EVERGLADES NATACHA J. YACINTHE, PH.D, AICP PRESENTATION TO ULI SOUTHEAST FLORIDA/CARIBBEAN INFRASTRUCTURE COMMITTEE NOVEMBER 4, 2011 Page 1
Port Everglades Overview World s 2nd busiest multi-day cruise port 45 cruise ships from 12 lines Top seaport in Florida for international export trade No. 12 in the United States for international container cargo trade Distribution site for South Florida region s gasoline, jet fuel and other petroleum products Enterprise Fund of Broward County No local taxpayer dollars Supported by user fees $124.7 million operating revenue in FY 2010 Page 3
Planning for Tomorrow Master/Vision Plan approved by Broward County Commission March 2011 Page 4
2020-Year Market Forecast Drives the Master/Vision Plan Containers Dry/Neo(TEUs) Bulk (tons) FY2010 2029 Projected Petroleum Cruise (tons) (passengers) 793,227 581,427 15,483,856 3,674,226 2,401,230 7,625,627 16,699,008 5,161,118 Page 5
Bigger Ships Need Longer Berths and Deeper Water Calling PEV Today Calling PEV Today Lightly Loaded Possible After Deepening Page 6
Priority Projects for Port Everglades Turning Notch Expansion with Southport Mangrove Creation-Enhancement Project Deepening and Widening the Port s Entrance Channel and Intracoastal Waterway Intermodal Container Transfer Facility Page 7
Southport Mangrove Creation-Enhancement Project Tied to Southport Turning Notch Expansion 16.5 acres 8.68 acres September 2010 Broward County and FDEP signed agreement for Southport Mangrove creationenhancement project Agreement with FDEP speaks to expedited permitting, which is the critical component to maintaining the established schedule 8.68 acres is replaced with approximately 16.5 acres Will result in fee-simple transfer of 60 acres to state Worked with local environmental organizations to develop this enhancement project Page 8
TODAY 900 May 4th, 2010 Page 9
TURNING NOTCH EXPANSION Page 10
ACOE Deepening and Widening Page 11
Intermodal Container Transfer Facility FEC Rail Yard Eller Drive Overpass Proposed 42.5acre facility including rail and marshalling yard Page 12
Timeline for Priority Projects Page 13
Costs & Funding for Priority Projects Turning Notch and Upland Mitigation Enhancements Total Project Cost Cost to Port $121.9 M $30.5 M Widening & Deepening to 50 feet Benefit/Cost Ratio 1.56/1 Total Project Cost State funding $320.8M (uncertain) Total eligible for Statefunding based on current 75% criteria $91.4 M Currently programmed State funds ($25.4 M) Remainingamount eligible for additional state funding $63.9 M Federal share needed Cost to Port (needed in FY14) Potential Add lcost to Port Intermodal Container Transfer Facility* $189.2 M $131.6 M $23 M Total Project Cost $72M Port land value ($19 M) Currentlyappropriated/programmed State grants ($6 M) $12 M FEC equity ($5 M) FECState Infrastructure Bank (SIB) Loan (application pending) $30 M FDOT Eller Drive Overpass Separate project that is the first step towards ICTF. Brokeground July 2011. ($42 M) State funded and contract awarded Page 14
Economic Impact for Priority Projects Turning Notch Deepen/Widen ICTF Projected Construction Impact Total Jobs 2,227 Personal Income Stateand Local Taxes $90.6 M $ 6.7 M Total Jobs 4,659 Personal Income Stateand Local Taxes $189.6 M $14.0 M Total Jobs 767 Personal Income Stateand Local Taxes $31.2 M $2.3 M Projected 2029 Annual Business Impact Total Local/Regional Jobs Personal Income State &Local Taxes 5,529 $393.1 M $29.1 M Statewide Jobs 106,657 Total Local/Regional Jobs Personal Income State &Local Taxes 1,491 $107M $7.9M Statewide Jobs 29,273 Total Local/Regional Jobs Personal Income State &Local Taxes 2,188 $154.6 M $11.4 M Statewide Jobs 41,637 Personal Income $3.4B Personal Income $934.9 M Personal Income $1.33 B State &Local Taxes $252.2 M State &Local Taxes $69.2 M State &Local Taxes $98.4 M * Includes mangrove creation-enhancement and mitigation in West Lake Park Total jobs for the ICTF is a subset of the total jobs created by the additional cargo throughput that is generated by the Page 15 Turning Notch Expansion and ACOE Deepening and Widening projects.
Revenue by Business Sector Fiscal Year 2010 Navy, Lay-In 1% Dry Bulk & Break Bulk 1% Public Safety, Finance 1% Real Estate & FTZ 8% Parking 7% Petroleum 20% Cruise 37% Containerized Cargo 24% Page 16
FY2010 Results Cruise 3.67M Passengers up 17% Container Cargo 793K TEUs Steady Petroleum 109.4M barrels Steady Page 17
Port Everglades Containerized Cargo Trade Lanes Page 18
Port Everglades is No. 1 in Florida for U.S. Jobs Supported by Exports Every $200,000 in exports supports one U.S. job, according to the U.S. Department of Commerce Exports from Port Everglades = $11.1 B (CY2010) Exports from Port Everglades support 55,500 U.S. jobs South Florida is the 11 th largest U.S. Customs District with over $95 billion in total trade 26 nations exceeded $1 billion each in total trade with South Florida 20.6% increase in South Florida trade in 2010 $22.2 billion South Florida trade surplus, $2.8 billion at Port Everglades Page 19
Economic Impact of Port Everglades Cargo and Cruise Activities Annually Total Jobs 143,249 Direct Local Jobs 10,112 Personal Income $5.4 billion State& Local Taxes $398 million Total Value of Economic Activities $13.9 billion FY2010 data Page 20
HOW CAN YOU HELP? Port s Ambassadors Word of Mouth Meet with your Representatives Write Letters of Support Port Everglades in Conversations ULI Meetings Get the word out Page 21
Port Everglades = JOB$ Page 22