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Will Manufacturing and Trade Work for Florida's Recovery?
Adie Tomer challenges local and state leaders in Florida to leverage its strengths in trade and logistics for a more production-oriented economy—to the benefit of the long-term economic prosperity of the state.
"Florida took a beating during the Great Recession. Like many of its Sun Belt peers, the prominent roles of real estate, tourism, and financial services led to over 650,000 jobs lost between 2007 and 2010. Many of the state’s largest metro areas remain thousands of jobs below their peak levels," according to analysis by Tomer.
Tomer lists the state's advantages in trade and logistics—such as Miami International Airport, 15 deep water ports, and cutting-edge freight policies—yet, "for all its logistics advantages, Florida simply doesn’t make enough of its own stuff." That last point is evident in a $180 billion domestic and international trade deficit in 2010, according to Brookings data.
Tomer also points out more of the state's potential in creating a manufacturing base, and recommends a few strategies, including cultural change, to achieve the recommended goals.
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Published on Wednesday, June 11, 2014 in
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