Current:Home > StocksHow important is the Port of Tampa Bay? What to know as Hurricane Milton recovery beings -Dynamic Wealth Solutions
How important is the Port of Tampa Bay? What to know as Hurricane Milton recovery beings
View
Date:2025-04-11 16:37:31
Although Tampa Bay was spared a direct hit by Hurricane Milton's eye, the area still sustained significant damage and will likely take time to recover.
For the Port of Tampa Bay, that could mean a prolonged period of closure, depending on the exact state of the port.
The Port of Tampa Bay was not immediately able to provide an assessment of damage to USA TODAY.
Still, as the 24th largest port in the country, and one of the largest importers and exporters of certain industrial products, a closure could hit some industries especially hard.
“A prolonged closure would certainly be challenging to the local economy, especially for Floridians who are short on gasoline right now," Jason Miller, a professor of supply chain management at Eli Broad College of Business at Michigan State University, told USA TODAY. "Even if there is no damage (to the port's facilities), there probably will be some challenges getting that gasoline to inland stations” because there is widespread damage and debris on the roads.
Here's what to know about the Port of Tampa.
How big is the Port of Tampa Bay?
The Port of Tampa is the 24th largest port in the U.S. According to the port operator, it serves an area with a population of 8 million and more than 20 million visitors annually. Overall, Florida ports are responsible for handling many exports to Latin America and imports from Asia.
What are the Port of Tampa Bay's main exports?
The Port of Tampa Bay is a major exporter of fertilizer and related products, as well as certain food products. According to Census Bureau trade data, about 99% of fertilizer produced in the U.S for export moves through the Port of Tampa. If those facilities are damaged, Miller said, it could be especially difficult for the fertilizer industry.
“You can usually assume if a port is accounting for 90% of a total of something, it’s not going to be the easiest to reroute, especially on the export side," he said.
What are the Port of Tampa Bay's main imports?
Industrial products also account for a majority of the port's imports, with 96% of imported sulfur in the U.S. moving through Tampa.
Food products, including orange juice, is also a major import through Tampa Bay.
How important is the Port of Tampa Bay to the US economy?
According to Miller and the Federal Reserve Production Index, fertilizer production represents 0.42% of the manufacturing economy in the U.S., so while a prolonged closure would likely not have a huge impact nationally it would still affect the local economy significantly, as well as the agricultural sector. The port also hosts five cruise lines that run itineraries ranging from four to 14 days.
“In terms of importance for the overall economy, not that, that, that large, but that doesn’t mean it doesn’t have an impact on farmers who need fertilizer," Miller said. "The big thing is we’re just waiting to see for this specific case what the damage assessment is with the port. Hopefully, that is minimal, and operations can resume as fast as possible."
Zach Wichter is a travel reporter for USA TODAY based in New York. You can reach him at [email protected].
veryGood! (68863)
Related
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- American Climate Video: As Hurricane Michael Blew Ashore, One Young Mother Had Nowhere to Go
- Shop the Best New May 2023 Beauty Launches From L'Occitane, ColourPop, Supergoop! & More
- Supreme Court takes up dispute over educational benefits for veterans
- 'Most Whopper
- Trump and Biden Diverged Widely and Wildly During the Debate’s Donnybrook on Climate Change
- 8 Black Lung Indictments Allege Coal Mine Managers Lied About Health Safety
- Analysts See Democrats Likely to Win the Senate, Opening the Door to Climate Legislation
- The company planning a successor to Concorde makes its first supersonic test
- A Judge’s Ruling Ousted Federal Lands Chief. Now Some Want His Decisions Tossed, Too
Ranking
- Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
- Ohio House Passes Bill to Roll Back Renewable Energy Standards, Again
- Bullish on Renewable Energy: Investors Argue Trump Can’t Stop the Revolution
- Here's who controls the $50 billion opioid settlement funds in each state
- Senate begins final push to expand Social Security benefits for millions of people
- Former First Lady Rosalynn Carter Diagnosed With Dementia
- Mayan Lopez Shares the Items She Can't Live Without, From Dreamy Body Creams to Reusable Grocery Bags
- Big Brother Winner Xavier Prather Engaged to Kenzie Hansen
Recommendation
Where will Elmo go? HBO moves away from 'Sesame Street'
Coal’s Decline Not Hurting Power Grid Reliability, Study Says
Khloe Kardashian Captures Adorable Sibling Moment Between True and Tatum Thompson
South Portland’s Tar Sands Ban Upheld in a ‘David vs. Goliath’ Pipeline Battle
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
The doctor who warned the world of the mpox outbreak of 2022 is still worried
DeSantis unveils border plan focused on curbing illegal immigration
Man charged with murder in stabbings of 3 elderly people in Boston-area home